last night i chatted with a representative from fxcm when i mentioned oanda, he kept on mentioning that oanda is a very small company and not reputable. haha i understand that he's always going to back fxcm. however, to all oanda live customers out there, have you faced any notable problems like difficulties in withdrawing fund etc... appreciate if anyone can share their opinions here
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FXCM is misleading you about Oanda. They are not a very small company. They are one of the biggest forex dealers operating in the USA with almost as many customers as FXCM in that country. Further, their customers are regularly more profitable than FXCM customers, sometimes much more so:
{quote} FXCM is misleading you about Oanda. They are not a very small company. They are one of the biggest forex dealers operating in the USA with almost as many customers as FXCM in that country. Further, their customers are regularly more profitable than FXCM customers, sometimes much more so: Q3 2014 performance comparison Q1...
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That post that you quoted is from 2004. Maybe Oanda was a small broker then.
You forgot to mention that Oanda is also a Market Maker better to be with a ECN broker.
{quote} That post that you quoted is from 2004. Maybe Oanda was a small broker then. You forgot to mention that Oanda is also a Market Maker better to be with a ECN broker.
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What do you mean 2004? It's 2014 sir! It no surprise for me that Interective brokers and Citi fx have highest percentage of profit account. They have highest required capital => a lot of customers money http://www.cftc.gov/MarketReports/Fi...FCMs/index.htm
I don't think all market makers are bad, Citi fx, Oanda are market makers but the percentage of profitable accounts is high.
As of January 31, 2015, due to regulatory requirements determined by the National Futures Association (NFA), OANDA will no longer be permitting credit card or PayPal deposits to fund your FxTrade account.
As of January 31, 2015, due to regulatory requirements determined by the National Futures Association (NFA), OANDA will no longer be permitting credit card or PayPal deposits to fund your FxTrade account.
Oanda suspeded quotes on EUR/CHF and USD/CHF pairs for more than 1 hour !!!
I have been very hardly affected by this !
Are other people affected here ?
They did this in the past, they did it again.They claimed it was some "technical issues" in the past, and now they blame their liquidity providers to have stopped to provide any quote, totally. This is 100% BS.
Hi, I was in a small long USD/CHF position with no SL. Funny thing is I managed to close the trade at a loss of about -400pp, but will Oanda honour it since prices fell further afterwards? If anyone has any ideas please do share, thank you!
Oh, meaning you were able to close when the price stayed artificially high ???
Damn, that would mean you "took" the money from the people that were closed at the bottom of the gap.
I don't know what will happen, but that is a big mess for Oanda.
I trade a very small live account on Oanda and had absolutely no problems this morning. I was in a long USD/CHF position in a slight plus. I had a SL around BE. That got hit in the early seconds of the drop. Small plus was credited. I also had a short EUR/USD that I closed manually with 150 pips profit once I woke up. You are right that trading was suspended for the first pair for a while. After that I was able to scalp for a little bit against all my rules and stopped before I could destroy my good fortunes. Sorry for all that lost today. It could have been me....
You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.
So they will chase you until you give them all your belongings??
This statement is from MB Trading
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Quit posting that crap on every thread you see. You have no idea what you are talking about, and you're fear mongering people when they're at their lowest.
Oanda is one of the only brokers that specifically states you cant lose more than what you deposit.
From Oanda's customer agreement (Europe division): 16. Maximum Losses. OANDA warrants and represents that the fxTrade System has been designed so that: (a) Your total aggregate Realised Loss can never exceed the sum of the total aggregate deposits made to your Account and your total aggregate Realised Profit; and (b) Your Account can never have a negative balance
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Quote
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In addition, trading on a margin basis means that any market movement will have a proportionate effect on your deposited funds. This can work for you as well as against you. The possibility exists that you could sustain a total loss of initial margin funds. OANDA's trading system is designed to automatically liquidate all open positions if your margin deposit is in jeopardy so that you cannot lose more than the funds you have on deposit in your account. It is encouraged that you employ such risk-reducing strategies as 'stop-loss' or...
Pharm0r: I don't know where you got that quote from, but not from me (despite what's written)
Edit: found it, this quote is from a guy named "Marzullo" in the IC Market margin call thread.
And the quote from Shrike is from another thread from 2011 !? Wtf ?
It would be a good idea to only quote people from the same thread (and not attribute the quote to someone else). I don't even know how you did !?
