OANDA Discussion

From Investopedia

Cons: Market makers can present a clear conflict of interest in order execution, because they may trade against you.
They may display worse bid/ask prices than what you could get from another market maker or ECN.
It is possible for market makers to manipulate currency prices to run their customers' stops or not let customers' trades reach profit objectives. Market makers may also move their currency quotes 10 to 15 pips away from other market rates.
A huge amount of slippage can occur when news is released. Market makers' quote display and order placing systems may also "freeze" during times of high market volatility.
Many market makers frown on scalping practices and have a tendency to put scalpers on "manual execution," which means their orders may not get filled at the prices they want.

The keyword being 'may' ...

True but enough info for me to abandon ship. At least what I see from my Broker I like and now it's up to me to do the rest. I want all the odds in my favor. This game is difficult enough without fighting a Broker also.

you like blondes, I prefer dark brunettes ;-)

+1 for the first page of Official fxTrade Feature Suggestion Thread - 2013** thread on already semi-dead O's forum.. (just visited there after very long time and I haven't been able to sign in since destruction of old one.)

But Im afraid its already too late for 180° degrees turn or return to what it once used to be. Many people were warning against such negative changes in Oanda (for clients) since the moment they started revealing their new plans ... deaf and blind, I hope they are satisfied now with their work. Turning one of the top brokers in the industry into cr@p..

oanda down? crashed both my mt4 and fxtrade platform

working fine
(fxTrade, Europe division)

ok thanks

I guess it website was down for a moment or so...but FXtrade and MT4 were still connected.

Well I tried talking to Oanda again about their new 'dynamic spreads' on thursday ...
The conversation went as follows ...

Oanda: Hello. How may I assist you?
me: Hello, I have waited a real long time, but I now would like to file a complaint about oanda's 'new dynamic spreads'
me: this was supposed to be an improvement
me: of which I had my doubts about it in the beginning
me: after months of actually trading them
me: it turns out I was right
me: these are pretty horrible compared to what Oanda used to be
me: Oanda is destroying itself and doesn't seem to know this ...
me: I know several traders that are looking into alternatives to move
Oanda: By offering dynamic spreads to our clients we are aiming to be competitive and to keep our spreads as low as possible following a market trend in the whole business.
me: ok, then I will move ... cause the competition is obviously better at this game ...

I should be trading any day now with Dukascopy Europe ... I discarded the Alpari UK platform, since it's not really suitable for scalping, since I can't send a stoploss attached to my market order the way I want to automatically. This MT5 platform really sucks ...

Same reasons I left O. Just wondering why not use an EA for S/L?

I must have spend about 8 hours trying to find something that would do the job for MT5 for ECN's. Never found anything.

Also if you put Dukas next to Alpari, the spread is better on Dukas ...

Mac trader looking to open a $2k account due to the variable position sizing available. Is Oanda still a good choice? There always seems to be negative reviews regarding forex brokers.

Mainly will be swing trading on 1H and 4H

Thanks

anyone know if you can adjust the moving averages in Oanda's platform? Looking to set up multiple MA's based on High, Low and Close but doesn't look possible..??

I remember the times when Oanda was leading trends in the industry. Now they obviously settled down to just following the rest of bucketshops around

That is telling critique.

and that's why I left ....

The dynamic spreads are absurd. I can set up a market order and by the time I enter the trade e.g. EUR/JPY, the spread can widen 1 pip or more in less than 1 sec. The spread always widens in their favor, not mine!

What the heck?

Getting back into trading after a hiatus...

Oanda used to be like 1.2 on EUR/USD and 0.9 on USD/JPY... now its fluctuating , averaging about 1.6... this blows!