OANDA Discussion

Is there a problem with the Oanda feed? I ask this because since yesterday afternoon (cet) i have many gaps in my 1 minute feed (see screenshot below). I never had these gaps before (years) and they don't appear in any other 1 minute feed (from other brokers). Just wondering what is going on.

[edit] just to illustrate i've also uploaded a m1 from fxpro broker with no gaps.

Anyone receive the notary public form? How should this be signed and who to fill it out?

Frustrations over Lack of Transparency in trading of Oanda's CFDs

Hi guys, I'm new to this forum and have been trading for 5 years, with Oanda being one of my first brokers. Generally they have been good with execution and spreads apart from the typical widening of spreads during news events that might trigger stops. However when I recently started trading their CFDs in commods and indices, lots of questions emerged and the lack of transparency given by Oanda's replies to my queries below had been frustrating me so much so that I am seriously considering jumping ship to other DMA brokers instead of a market maker like Oanda:

1. Identities of underlyings for CFDs

When I asked for what are the specific underlyings of the various CFDs that Oanda offers, I was informed that Oanda is unable to disclose them. So when I am trading say 1 unit of Soybeans on Oanda, I have no way to know which underlying contract I am exposed (further elaboration on point 3 below) when I trade in their CFDs.

1. Interest rates determination

Oanda pays/charges interests on their CFDs and can be easily calculated with tools available on Oanda, however how they determine the interest rates remains a blackbox and a concern for traders (especially those doing carry trades) with the wide fluctuations for some of the interest rates.
When probed on how Oanda determines the interest, Oanda's reply that demonstrates a total lack of transparency and a failure to answer the crux of my query is as follows: "the interest is based on a discounted futures price. In order for the CFD price to converge at the future contracts expiration date. The interest will increase/decrease depend on the future price. E.G Current Soybean price 11.61 but futures price is 10.9, thus the higher interest is given to slowly converge at the same price later. Frequency of interest rate change would depend on when we roll-over our future contracts. The interest will normally change every 1-3 months. However we do not provide our roll-over dates and prices." I was also told in live chat that Oanda "applies such an interest to smooth the transition between" and that Oanda is a private company and hence there is no need to disclose such information.

1. Pricing of CFDs

​With no clue on the exact underlying of the CFDs being traded on Oanda's platform, there was no way one can determine on how spot prices would be printing on Oanda's platform.
Case in point: Soybean CFD price was around 11.30-11.40+ on Oanda's platform on 13 August, but front month CBOT Soybean August contract (ZSQ14) was trading at around 12.45-12.90+ during the same period, while CBOT Soybean September contract (ZSU14) trades around 10.80 with soybeans currently in backwardation. When queried on the significant discrepancy between Oanda's spot price and the Aug and Sep contracts, I was informed that Oanda's "Soybean spot price is referencing the September Price, which is at approx 11.00." When asked why is Oanda's spot price referencing the far month Sep contract when the front end Aug contract only expires on 14 Aug, was told by Oanda that they "deem it reasonable to roll over a CFD derivative near the end of the current month contract to the next month" and were unable to disclose how they price their CFDs nor how and when they do the so-called rollovers. If the purpose of such rollovers is to "smooth the transition between" the underlying contracts, isn't such a purpose served by the interest rates mentioned above?


Apologies for the wall of text above, anyone with similar frustrations dealing with Oanda? Please feel free to share your experience and comments! Would also greatly appreciate if anyone can share their recommendations for a good DMA broker, I'm sick of dealing with a MM like Oanda.

This seem to be still the case (see the attached chart), it does mess up my charting. Did something change at the oanda feed?

Oanda have problems, from 21 july 2014. (they say is du to java update, and i think that affect also mt4, by the bridge)

This morning on fxtrade:

http://nimga.fr/m/eOAJU.jpg

on 11 august on MT4:

http://nimga.fr/m/GqTRs.jpg

http://nimga.fr/m/LqRkc.jpg

http://nimga.fr/m/09QRA.jpg


The answer from oanda:

http://nimga.fr/m/J0sYn.jpg

look what say on #post 2

http://www.forexfactory.com/showthre...51#post7458451

The business model of oanda is the interest by second, and the swap, the negativ interest is every time 2 or 3 times more than the positiv.
On the CFD, they change when they want.

I try many others brokers, and i don't trust any one !

Is it true that recently Oanda has new rule:

older order of the same pair must closed first before the newer ones get closed?

they claim its due to new regulation, then what about other brokers has same rules imposed?

This is old, (about 2 years) FIFO rule.

If you are not a US citizen, move your account oanda US to oanda europe. (i already make, but i don't remember where to click to make).

Oanda frequents disconnections, du to JAVA update:

https://fxtrade.oanda.com/community/...008885/?page=1


As you can see, the disconnection is for trading live, no disconnection with Demo.

Anyone else having trouble with slow loading charts and disconnects today ? I have done several Speed tests and its not my ISP at issue.

Here we go again...OANDA disconnects on high volatility.

They had improved on this considerably in the recent past, but now we're back to the old tricks...

can anyone confirm that oanda doesn't enforce FIFO policy on different-sized orders in live trading?

in the demo, for example, i can open 2 separate positions sized 25,000 and 25,001, and close them individually.

same thing happens to me and i agree that it is a trick

slower than shit ,i have a really fast internet connection everything else works perfect ,F U OANDA

I don't know about the different size thing. But FIFO means First In / First Out, so it does not prevent you from closing the positions "individually", but the order in which you can close them.
About FIFO rules, it's a US thing, it depends on where your account is opened. Oanda has branches in US, UK and SG if I'm not wrong. FIFO rules only apply with accounts at Oanda US. If you're not from the US, ask to have your account moved in the UK.

But in the US, does the size of the orders (different) change anything ? It shouldn't...

It's possible place a limit order inside the spread on Oanda / API ? it's allowed ?

You can place your order where you want, there is no limitations on limit orders with Oanda.
But, Oanda is a market maker, so your order won't reduce the spread and you will only get filled when your order will be "marketable" according to Oanda's prices. Meaning if you try to buy, you will only buy when Oanda's ask price hit your limit order. If another customer from Oanda sells at market when your limit order is above the bid price, you won't get filled by this. Everything goes through Oanda.

About FIFO... Unless something has changed in the past couple of months, the way it worked for me is First In/First Out for the same sized position. For example, if you have 2 orders at 1000 units each, then the oldest one would have to be closed 1st. However, if you had one order at 1000 units, and a second at 1001 units, you could close either at any time.

Again, this is just how it has worked for me, and I haven't even used this method of trading for a couple of months, so if anything changed since then, I am unaware of it. My suggestion to anyone who wants to try it out. Take out an order of 1 unit, and later an order of 2 units. Then try to close the 2nd order 1st. You won't lose much of anything for cash, and it will answer your question.

Thanks Mevo !