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OANDA Down?

  • #181
  • Mar 4, 2014 7:06am Mar 4, 2014 7:06am
Quoting LizardGizzard
Thanks, Mevo, for proving what we inevitably KNEW was going to happen. And of course, no one NEEDS to have a trade explorer or myfxbook page….though if one is going to rant like an immature moron, then it certainly helps to be able to back it up. The only reason I have one is to keep myself honest and POSSIBLY to add credence to my posts (though it definitely doesn't guarantee it ). Right now, my trading is going well, but I'm also quite willing to suffer the humiliation of losing publicly because either way, it might be helpful for others to...
So, you think you have rights? LOL
  • #182
  • Mar 4, 2014 7:47am Mar 4, 2014 7:47am
Quoting LizardGizzard
Thanks, Mevo, for proving what we inevitably KNEW was going to happen. And of course, no one NEEDS to have a trade explorer or myfxbook page….though if one is going to rant like an immature moron, then it certainly helps to be able to back it up.
You're welcome
The funny thing is that usually someone able to "back it up" doesn't have this kind of behavior. In fact, most successful traders are usually the most humble (and often discreet)

About sharing and the humiliation of loosing publicly (and knowing that you're not only loosing your funds in this case), were you approached by Currensee to become a "Trade leader" (signal provider) ? Your type of account and results is for sure the kind they are searching for. They sent me several emails, and called me on the phone a few days back. I didn't answer yet. I have to admit I was pretty flattered to be chased for my account results But not really sure I want to have that psychological burden of knowing I am engaging some other people's funds and have others "judge" my trading, especially before a trade is over. Or maybe are you already providing signals on Currensee ?

I feel your trading style would perfectly fit such a service. You trade a lot of pairs with very reasonnable amounts. I am more a 1 pair (2 or 3 max) with bigger amounts trader.

I'm using Oanda's MT4 and have no major problem either, except of course the other day (what this threat was about in the first place)
(I have PM'ed you a private link to my also "laughable" amount Oanda account, check your mailbox)
  • #183
  • Mar 4, 2014 8:01am Mar 4, 2014 8:01am
Tks, Mevo, for your PM. Wow, your results are very impressive and your account size does make mine look paltry at present. It is always heartening to see someone like yourself having achieved consistent and respectable results for several years, especially in light of some of the pervasive negativity around here.

For me, the way I'm trading right now is a method I toiled over last year and have just started implementing on January 1 of this year…so I certainly need many more months of consistency to feel completely comfortable with it and to let the account size grow at a more moderate pace than it has. Currently, it is behaving exactly as I expected in a "boring" but repeatable manner, so I am happy. Looking at your results, I can see why you would be approached by Currensee. But I, too, would likely have no desire in participating in something like that, I think. Thanks again for the link and Happy Trading!
There's always money in the banana stand.
  • #184
  • Mar 4, 2014 10:28am Mar 4, 2014 10:28am
The explanation of the ISP going down means that they have poor IT management considering the size of the organization and the industry in which they operate. Having redundant Internet connections for financial systems is normal as is co-located redundant hosting, which can still operate when one location completely shuts down. Financial systems and websites of major brands can easily be protected for a relatively small fee. I also don't understand how Oanda's servers were able to trigger stop loss/take profit orders etc without a connection to a price feed? Maybe it is just my skeptical side but the story doesn't add up to me.

If Oanda wants to build back their trust I think they need to put together an action plan. They first need to fix the weakness in their system so that complete site or network shutdown in one of their locations doesn't turn them off.
  • #185
  • Mar 4, 2014 10:33am Mar 4, 2014 10:33am
Quoting tradingboy
The explanation of the ISP going down means that they have poor IT management considering the size of the organization and the industry in which they operate. Having redundant Internet connections for financial systems is normal as is co-located redundant hosting, which can still operate when one location completely shuts down. Financial systems and websites of major brands can easily be protected for a relatively small fee. I also don't understand how Oanda's servers were able to trigger stop loss/take profit orders etc without a connection to...

Agree 100%.

I am an OANDA customer, and to be evenhanded, I should say that in recent years, connectivity with OANDA has been outstanding. (There was a period a few years ago, when connectivity failed fairly frequently on any high-volatility move in a major pair. That has not been my experience recently -- except with the incident on February 27).

But I think OANDA would be well advised to explain in detail why the issue occurred on February 27, and what steps they have taken to ensure it will NEVER happen again.
Student of the Markets
  • #186
  • Mar 4, 2014 11:29am Mar 4, 2014 11:29am
Quoting dchristi
{quote} It is exactly the issue of trust -- trusting in the future that a similar situation won't happen again. Without knowing what happened, or what has been done or will be done about it, how can OANDA customers possibly have confidence that a similar situation won't arise in some future high volatility situation. You say either trust them, or not. I say let them earn their customers' trust. Give customers the facts about what happened, and why it won't happen again in the future.
We globally agree, but what I meant is that their statement: "OANDA's primary Internet Service Provider (ISP) experienced an outage and as a result our platform lost internet connectivity" is enough explanation. You know what happened. More details won't be of any use.

And about trust, I didn't speak of trusting them on a global scale. Trust, which I agree, have to be earned on the long run, but trust them (or not, and then leave immediately) to do what is needed so that it doesn't happen again. They say they will, so trust them on that (again, or not and leave right now). Either it won't happen again, and then maybe they will earn your trust with time. Or despite their statements, it happens once more, and you will know it's time to close your account.

More explanations, more details, more bla bla bla will only make everybody loose unnecessary time.

About the fact they didn't have what they should to handle such a possibility, maybe, probably. Now it happened, it's unfortunate, but it's the past. I guess they will correct their infrastructure "thanks" to this incident.
  • #187
  • Mar 4, 2014 11:45am Mar 4, 2014 11:45am
OANDA been giving it to you guys for years, ENJOY http://www.easyfreesmileys.com/smile...mileys-939.gif
  • #188
  • Mar 4, 2014 11:48am Mar 4, 2014 11:48am
Quoting tradingboy
I also don't understand how Oanda's servers were able to trigger stop loss/take profit orders etc without a connection to a price feed? Maybe it is just my skeptical side but the story doesn't add up to me.
It may be strange, yes. Most probable explanation is that internet connection failed where their servers are hosted, but they have a direct link to (at least one of) their liquidity provider(s) which continued to work (as their servers). Would make sense for price feed and execution speed.

Or they were totally disconnected but did the maths afterwards and saw they were positive by matching all pending orders, so everything was fine. Or they were negative, but something acceptable, so they honored them, as in my opinion they have to do it, they have no other real choice (unless they would be financially unable to do so, which would have been the start of the real problems, Knight capital style)

Now, all pending orders have been honored, everything is back on track, so does it really make any difference ?
  • #189
  • Mar 4, 2014 12:05pm Mar 4, 2014 12:05pm
Quoting Mevo
{quote} We globally agree, but what I meant is that their statement: "OANDA's primary Internet Service Provider (ISP) experienced an outage and as a result our platform lost internet connectivity" is enough explanation. You know what happened. More details won't be of any use. And about trust, I didn't speak of trusting them on a global scale. Trust, which I agree, have to be earned on the long run, but trust them (or not, and then leave immediately) to do what is needed so that it doesn't happen again. They say they will, so trust them on that...

All I can say is that, if you an OANDA customer (and I assume you are), you just take a different attitude toward this matter.

You are correct that customers will have to make a decision about whether to stay with OANDA. For me, I will make my decision hinge in part on whether OANDA provides an adequate explanation (adequate to me) of what happened, and how they will avert these malfunctions in the future. I don't think OANDA has done this yet, but I am certainly willing to give them the opportunity to do so. Your advice to "stay, or leave right now" is, in my opinion, rushing things a little bit too much for my tastes.

You may decide to make your decisions on different criteria. And that's fine with me.

But please don't try to convince me how I should make my own decisions.
Student of the Markets
  • #190
  • Mar 4, 2014 12:24pm Mar 4, 2014 12:24pm
Quoting dchristi
{quote} All I can say is that, if you an OANDA customer (and I assume you are), you just take a different attitude toward this matter. You are correct that customers will have to make a decision about whether to stay with OANDA. For me, I will make my decision hinge in part on whether OANDA provides an adequate explanation (adequate to me) of what happened, and how they will avert these malfunctions in the future. I don't think OANDA has done this yet, but I am certainly willing to give them the opportunity to do so. Your advice to "stay, or leave...
I am a Oanda customer, of course.
"stay, or leave right now" Exactly: Stay and see, or leave right now. It seems (TO ME!) to be the only 2 things to do. You choose a third one (?): Ask for more explanations and more details. Why not, it's your choice. I don't see the point, as I wrote in the opinion (which is only mine) I was expressing. I don't think I "tried to convince you", nor was it my intention.

Now, maybe you should go to talk directly with Oanda, especially as it is what they told at the end of their statement. But it is, for sure, up to you to make your own decisions.
  • #191
  • Mar 4, 2014 12:47pm Mar 4, 2014 12:47pm
Quoting Mevo
{quote} I am a Oanda customer, of course. "stay, or leave right now" Exactly: Stay and see, or leave right now. It seems (TO ME!) to be the only 2 things to do. You choose a third one (?): Ask for more explanations and more details. Why not, it's your choice. I don't see the point, as I wrote in the opinion (which is only mine) I was expressing. I don't think I "tried to convince you", nor was it my intention. Now, maybe you should go to talk directly with Oanda, especially as it is what they told at the end of their statement. But it is, for sure,...

Actually, that is not what you said.

What you said (repeatedly) was either "trust them" or "leave right now". You did not say "stay and see", as you now seem to be saying.

But there is another option.

I choose to suspend my trust, for now, until I have an acceptable explanation. Based on what OANDA finally chooses to pass on to its customers, I will make up my mind.

OANDA said after the incident (and at the top of this thread) "To our clients, if you have specific concerns about your account(s), please contact our Client Experience team at [email protected] or toll-free 1-877-OANDA-FX."

I do not have specific concerns about my account. I have specific concerns about how OANDA will ensure this does not happen again, as do others who have posted here and elsewhere. I would welcome any further information they could offer in that regard.
Student of the Markets
  • #192
  • Edited 2:04pm Mar 4, 2014 1:54pm | Edited 2:04pm
Quoting dchristi
{quote} Actually, that is not what you said. What you said (repeatedly) was either "trust them" or "leave right now". You did not say "stay and see", as you now seem to be saying. But there is another option. I choose to suspend my trust, for now, until I have an acceptable explanation. Based on what OANDA finally chooses to pass on to its customers, I will make up my mind. OANDA said after the incident (and at the top of this thread) "To our clients, if you have specific concerns about your account(s), please contact our Client Experience team...
Dchristi, it is exactly what I said. Maybe not very clearly in my first post, reason why I tried to clarify after your answer. I invite you to read again, posts are just one page from here. Anyway, you can definitely put your account "on hold" until you are convinced such thing is not happening again, that's an option too, you're right. You may withdraw and leave the account open to be able to maybe re-deposit later. That's "wait and see". On my side, I am continuing to trade while "I'm seeing", because I am trusting (aka expecting) Oanda to do what they said in their statement = do what they have to do so this situation does NOT repeat.

Ok about your last sentence, I get it. You can still contact them to ask them this. But (only my opinion) they can tell you whatever they want, whatever you want, whatever you may want to hear by the way, I am still thinking this isn't going to help you any way. They already told you they will act. Because they tell it to you again in more details, or tell you "we did this and that", you will be more convinced ?

Ok, you know my point of view, I know yours. Continuing this discussion isn't going anywhere either

(Edit after reading again your post: Hey, as your account is with Oanda, you DO HAVE specific concerns about your account, so I still believe you have been invited by Oanda to contact them in this case, but we may disagree on that too. Not very important )
  • #193
  • Mar 4, 2014 2:03pm Mar 4, 2014 2:03pm
Quoting Mevo
{quote} Dchristi, it is exactly what I said. Maybe not very clearly in my first post, reason why I tried to clarify after your answer. I invite you to read again, posts are just one page from here. Anyway, you can definitely put your account "on hold" until you are convinced such thing is not happening again, that's an option too, you're right. You may withdraw and leave the account open to be able to maybe re-deposit later. That's "wait and see". On my side, I am continuing to trade while "I'm seeing", because I am trusting (aka expecting) Oanda...

I'm glad we agree that our trust in OANDA depends on their performance in the future -- whether it be the performance of their platform, or their explanation of what they plan to do.

It does make a difference to me whether OANDA states publicly that (and how) they have remedied the issue. To you, maybe not so much. To each his own.

So, back to the original topic of this thread, I hope that OANDA will provide complete information to its customers concerning what happened, and what steps have been taken to redress the issue. We rely on the platform, and it is reasonable that we be provided with assurances that this kind of thing will not happen again.

(Mevo, this is a request for OANDA. Please do not feel compelled to answer on their behalf. Thanks.)
Student of the Markets
  • #194
  • Mar 4, 2014 4:49pm Mar 4, 2014 4:49pm
Quoting PoundTrader
OANDA been giving it to you guys for years, ENJOY {image}
Have sent you a PM
Come with me if you want to live....
  • #195
  • Mar 4, 2014 10:25pm Mar 4, 2014 10:25pm
Oanda down again today? This is the second time experiencing this and the first one cause me to missed closing my position and as a result losing in the end of the trade when the system back to normal. And today a lot of significant economic data going in the market and oanda is down again ...wow...is it going to happen on every occasion like this
Overbought + Oversold + Correction + Indicators = Are Not Equal
  • #196
  • Mar 5, 2014 1:09am Mar 5, 2014 1:09am
Quoting Forex_Math
Oanda down again today? This is the second time experiencing this and the first one cause me to missed closing my position and as a result losing in the end of the trade when the system back to normal. And today a lot of significant economic data going in the market and oanda is down again ...wow...is it going to happen on every occasion like this
Shhht!! Don't say it here!! THe noobs and Oandas employees lurking around don't like this kind of posts!!
So, you think you have rights? LOL
  • #197
  • Mar 5, 2014 2:56am Mar 5, 2014 2:56am
Quoting Forex_Math
Oanda down again today? This is the second time experiencing this and the first one cause me to missed closing my position and as a result losing in the end of the trade when the system back to normal. And today a lot of significant economic data going in the market and oanda is down again ...wow...is it going to happen on every occasion like this
I do not experienced disconection today in fxtrade desktop or mobile. I do not know about MT4.
  • #198
  • Mar 5, 2014 6:18am Mar 5, 2014 6:18am
Got this email from Oanda today. Needless to say the more likely reason why they were down was that they got hacked and pulled the plug on their systems until they figured out how badly. It would have been better for them not to lie and accuse their ISP or whoever they accused of being the problem and said nothing, and then came back and said we were hacked and to prevent further damage we pulled the plug on our systems. Anyhow, here is the email:

Valued Client,
We are writing to inform you of an unauthorized breach affecting some of our clients, which occurred on the morning of Monday March 3, 2014. Please note that this incident did not impact the fxTrade services, client trades or funds. However;
A historical log of some payments we received via PayPal (prior to 2007) was accessed. No passwords or personally identifiable information, outside of your name and email address, was exposed.
Usernames and passwords for our “fxPense” expense reporting tool may have been accessed (these accounts are not related to fxTrade). If you had registered for this service and use the same username and password on any other external websites, we strongly recommend changing those passwords.
Immediately upon detecting the breach, the means of access was disabled and OANDA has alerted the Federal Bureau of Investigation (FBI), our regulators and the relevant privacy offices to report the attack.
We have completed a careful review of our system services and logs, and are currently undertaking an additional study of security across all of our systems, above our regular security audits. This breach was limited to one server involved with historical data and was not connected to our fxTrade system.
OANDA takes the protection of customer information very seriously, and we regret that this incident occurred. OANDA is committed to working with you to help minimize any inconvenience you may experience as a result.
We will provide further details as we confirm and learn any additional information. For additional questions and concerns about your account(s) at this time, please contact our Client Experience team by telephone (click here for a list of local numbers) or via [email protected]
Sincerely,
The OANDA Team
  • #199
  • Mar 5, 2014 8:05am Mar 5, 2014 8:05am
Quoting TradeSmarter
Got this email from Oanda today. Needless to say the more likely reason why they were down was that they got hacked and pulled the plug on their systems until they figured out how badly. It would have been better for them not to lie and accuse their ISP or whoever they accused of being the problem and said nothing, and then came back and said we were hacked and to prevent further damage we pulled the plug on our systems. Anyhow, here is the email: Valued Client, We are writing to inform you of an unauthorized breach affecting some of our clients,...
It came to my mind and I'm actually more OK with this one than an ISP failure, of course they need more security but even bigger names were hacked. As per their disclosure I think just a "We are hacked tweet" would have created panic, even if it could have been a backup server hack as in the adobe case.
  • #200
  • Mar 5, 2014 8:26am Mar 5, 2014 8:26am
I just chatted with support. I didn't receive the email (read it here) and they say they only sent it to people concerned, so those who haven't used paypal and FxPense won't receive it., and are suposed to be unaffacted. They claim that the 2 events are unrelated (shutdown from last week and this security breach). It's quite hard to believe (the timing is really against them on this one), but that's their position (I asked several times).
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