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  • #4,441
  • Aug 17, 2015 3:46am Aug 17, 2015 3:46am
Quoting cuchuflito
So the million dollar question: If your system starts working, say a daytrading srtategy, (no scalping nor longtime position)...and you start making real $. Will OANDA start "fighting" against you.. Read in countless forums, that "bucketshops" will torpedo any winning daytrader, with all the tricks in "their book". Included were comments from pros. who worked for decades, on the other side of the dealing desk. Anyone can answer? (please no "super smart traders" answering: "retailers excuse for nor being successfull bla..bla.".)..
If your broker A gives you a different feed, such that, say, the price is 10 pip higher than at broker B, you can sell with broker A and buy at broker B for some free money as the prices will eventually converge...

k
  • #4,442
  • Aug 17, 2015 8:05am Aug 17, 2015 8:05am
Cuchoflito: I don't think so. Oanda is NOT a bucketshop, which is a company that internalize everything. Oanda may internalize some of the trades, but in my understanding they hedge the majority of them, so it doesn't really impact them if you win or not. They may decide to hedge 100% of your trades, that's it, which have no impact on you.
  • #4,443
  • Aug 17, 2015 12:49pm Aug 17, 2015 12:49pm
Quoting Mevo
Cuchoflito: I don't think so. Oanda is NOT a bucketshop, which is a company that internalize everything. Oanda may internalize some of the trades, but in my understanding they hedge the majority of them, so it doesn't really impact them if you win or not. They may decide to hedge 100% of your trades, that's it, which have no impact on you.

Thanks for that....I will keep you guys updated, on any irregularities....or otherwise...
  • #4,444
  • Aug 19, 2015 10:27am Aug 19, 2015 10:27am
Hey, I have read in some review that in Oanda's MT4 platform there is no support for EA's. So that all the EA's wouldn't work in Oanda's Metatrader platform....
Is that true, or is the review I read outdated?
  • #4,445
  • Aug 20, 2015 12:42am Aug 20, 2015 12:42am
Quoting AcerPhoon
Hey, I have read in some review that in Oanda's MT4 platform there is no support for EA's. So that all the EA's wouldn't work in Oanda's Metatrader platform.... Is that true, or is the review I read outdated?
No, its just the usual rubbish of people bashing OandA. Just check the pecularities. But it is good practice to use MT4 for signals and execute those on their own platform.
  • #4,446
  • Aug 20, 2015 1:04am Aug 20, 2015 1:04am
Quoting cuchuflito
So the million dollar question: If your system starts working, say a daytrading srtategy, (no scalping nor longtime position)...and you start making real $. Will OANDA start "fighting" against you.. Read in countless forums, that "bucketshops" will torpedo any winning daytrader, with all the tricks in "their book". Included were comments from pros. who worked for decades, on the other side of the dealing desk. Anyone can answer? (please no "super smart traders" answering: "retailers excuse for nor being successfull bla..bla.".)..
You should be a noob right? Everybody knows that if you start to make decent money consistently oanda will play all their dirty tricks on you.

I trade with multiple brokers now, but I started with oanda in 2007 and traded for 5 long years with them.

The 2 last years i had them as my main broker were a nightmare until I could no longer stand it.

Platform freezes and disconnections are their main trick. To a point where I could not trade anymore.

While I was losing money disconnections were occasional.

The Swiss National Bank event in the beginning of the year showed clearly who was who as a broker and oanda proved to be a MM bucketshop.

I still have a small account with them where I trade long term just because It feels good sucking money out of them. Long term they can freeze their freaking platform as much as they want.

But if you want to daytrade choose another broker.

Again the SNB showed which broker gains when you lose. When you lose your money goes directly to oanda's pocket.
So, you think you have rights? LOL
  • #4,447
  • Aug 20, 2015 2:24am Aug 20, 2015 2:24am
Quoting ForexOracle
{quote} The Swiss National Bank event in the beginning of the year showed clearly who was who as a broker and oanda proved to be a MM bucketshop.
Well, they were among the very few who did not go after the traders who lost. Some brokers just went belly up, some tried to bully the traders who lost, with Oanda you were safe.
Actually after January 15th I decided to go with them.
k
  • #4,448
  • Aug 20, 2015 4:13am Aug 20, 2015 4:13am
Quoting kprsa
{quote} Well, they were among the very few who did not go after the traders who lost. Some brokers just went belly up, some tried to bully the traders who lost, with Oanda you were safe. Actually after January 15th I decided to go with them. k
You are another noob , right?

MM made e killing with the SNB event because when you lose the amount you lost goes directly to the MM.

With massive margin calls they made massive amounts of money.

Than on top of that they capitalized on the event by " forgiving " negative balances. What a joke.

Their propaganda was evil but well played, i bet a lot of noobs felt for it. you know....a sucker born each minute.
So, you think you have rights? LOL
  • #4,449
  • Aug 20, 2015 5:07am Aug 20, 2015 5:07am
Quoting ForexOracle
{quote} You are another noob , right? MM made e killing with the SNB event because when you lose the amount you lost goes directly to the MM. With massive margin calls they made massive amounts of money. Than on top of that they capitalized on the event by " forgiving " negative balances. What a joke. Their propaganda was evil but well played, i bet a lot of noobs felt for it. you know....a sucker born each minute.
Look, I agree with you that no broker is a charity, and that they are in the business for their own profit.
However, Oanda has dealt with this big event absolutely correctly. Unlike most others.

And the situation could have gone the other way around, the SNB could have launched the price 5000 pips up (and they did it once before) as well. And then 90% of the EURCHF traders would have won and the "bad" brokers, including Oanda, would have lost.

So, I really don't see your point: you are arguing their position in hindsight when they had to be prepared for both options: massive win (as you argue) and a massive loss. In a massive win they chose to forgive some of the losers. I personally think it is a great thing to do, no matter what you think about it.

k
  • #4,450
  • Aug 20, 2015 6:03am Aug 20, 2015 6:03am
Quoting kprsa
{quote} Look, I agree with you that no broker is a charity, and that they are in the business for their own profit. However, Oanda has dealt with this big event absolutely correctly. Unlike most others. And the situation could have gone the other way around, the SNB could have launched the price 5000 pips up (and they did it once before) as well. And then 90% of the EURCHF traders would have won and the "bad" brokers, including Oanda, would have lost. So, I really don't see your point: you are arguing their position in hindsight when they had to...
You are entitled to your opinion, if you like oanda just keep trading with them. it does not bother me at all
So, you think you have rights? LOL
  • #4,451
  • Aug 21, 2015 2:20am Aug 21, 2015 2:20am
I finally got a message from Oanda that they mailed a check. Exactly a month later from the initial and redundant requests. They also locked an closed my account without notice. Amazing how childish some of these or should I say most of these OTC brokers are. I never had a problem with real exchange trade brokers in the past 11 years.

I've said it before but now I mean it! No More Trading With OTC (Over The Counter). TD Ameritrade has 6.5 Million customers I never have a delay or Stunt with withdrawals.
Let's assume that's because the money I earn is from the exchange (CME) not there back pocket like the list of buckets out there. I started trading with spot fx then migrated to futures several years ago. The cheesy easy small spreads are what always tease me to trade spot, but the situation is simply getting too dangerous with interbank becoming fed up with all the probing caused by over regulation due to retail traders alleged protection protocols. They want rid of retail and get back to the big glove screw and chew back and forth they had before. For those of you that have a primary interest in currency. You can rid yourself of this OTC ongoing drama saga and move to CME and trade Emicro euro,aussi,pound - dollar futures contracts for about equal margin as would be required for spot at give take $1.25 a tick volume has been steady growing as spot has dwindled. Euro and Yen - dollar mini's as well as the full contracts. Everybody sees the exact same price.
"Look Left Think Right"
  • #4,452
  • Aug 21, 2015 5:46am Aug 21, 2015 5:46am
Noob question. With newspaper headlines warning of a possible global market crash, people cashing out, less liquidity, etc., is there any danger that if it comes to pass, Oanda won't have enough cash to release my funds to me?
  • #4,453
  • Aug 21, 2015 1:38pm Aug 21, 2015 1:38pm
Quoting MadLu
Noob question. With newspaper headlines warning of a possible global market crash, people cashing out, less liquidity, etc., is there any danger that if it comes to pass, Oanda won't have enough cash to release my funds to me?
I would not be worried about specific financial integrity with any particular mainstream broker. They don't usually fold over night rather they show signs of trouble semi visible somewhat in advance.

As for a hyper market crash yes that is potentially probable. Why? We are a global market more than was ever really intended. Each country likes to think they all solid on their own, yet the way they have whored themselves and cross dress inside each other's piggy banks and selling each other the very same resources they could easily keep in house it's nothing more than a 3 legged race from here on out.

Notice how the slightest nonsense moves price on one asset then a cascade effect occurs in others absolutely non related or correlated. This whole trading arena is contagious to yawns and sneezes. If your a new kid on the block take a real look to see if you really can stand this new age market drama.
"Look Left Think Right"
  • #4,454
  • Aug 21, 2015 1:47pm Aug 21, 2015 1:47pm
Quoting MadLu
Noob question. With newspaper headlines warning of a possible global market crash, people cashing out, less liquidity, etc., is there any danger that if it comes to pass, Oanda won't have enough cash to release my funds to me?
Also in the EU your funds are protected up to a certain amount, 50-100k euro, don't know the exact amount (you can ask the Oanda customer service). When Alpari went underwater in January, it took a while, but the last I read, the people were refunded... Check the Alpari discussions from January for details.
k
  • #4,455
  • Aug 21, 2015 4:36pm Aug 21, 2015 4:36pm
Thanks guys. I'm very new to all this, and I was just about to throw in the towel after a few months of unsuccessful AUD/USD trades, but then I was lucky enough to short NAS100 yesterday morning... I have no idea how much further it will go down, if it doesn't bounce back on Monday, but I'd like to feel confident that I'll be able to keep my winnings if I decide to leave the table. My account is in Australia, and I have a feeling we don't guarantee money held with forex brokers. Plus, it's not money I deposited, it's money I will (hopefully) have won.
  • #4,456
  • Aug 23, 2015 10:43pm Aug 23, 2015 10:43pm
Spreads at OANDA terrible right now. Almost 5 for GBP/USD, AUD/USD >4, USD/JPY and EUR/USD around 2.5. I know liquidity is not the best, but other major brokers have pretty much normal spreads.
  • #4,457
  • Aug 30, 2015 1:25pm Aug 30, 2015 1:25pm
Quoting kprsa
{quote}However, Oanda has dealt with this big event absolutely correctly. Unlike most others
*ABSOLUTELY* NOT !!!
Oanda halted everything, forbid anyone with a loosing position in a CHF pair to exit, or anyone with a limit order to cancel/modify it, and this for more than 1 hour. When CHF started to go up again, they enabled trading again. The big difference is that Oanda has only a max leverage of 1:50, and had far more conservative customers with bigger accounts. So they cleaned all the accounts of people with CHF pairs trades, but had not as many negative accounts as the brokers with 1:500 leverage where there mainly were overleveraged people.


With all the big accounts with low leverage that they made go to ZERO (or little negative), it was far enough to cover the other negative accounts.
Again, remember that Oanda was only allowing 10 times LESS leverage.

I 100% agree with ForexOracle, their PROPAGANDA after with disgusting. They claimed that they didn't REQUOTE any trade too for example. As no trade couldn't take place AT ALL, and they executed everything at the price of after the halt (the bottom), there wasn't any "requote" ! Everything was in the wording. The end result was the same as with other brokers, there were just FAR better to present it a nice way, and some people fall for it ;(
  • #4,458
  • Aug 30, 2015 1:35pm Aug 30, 2015 1:35pm
Quoting Mevo
{quote} *ABSOLUTELY* NOT !!!
The point of my statement was that they did not go after traders with negative balance, while many other brokers did.
In that respect they have dealt with the event correctly.
As far as I remember also Deutsche bank halted trading during the SNB event... While Oanda may perhaps be called a bucketshop, DB sure isn't.
k
  • #4,459
  • Aug 30, 2015 9:14pm Aug 30, 2015 9:14pm
im with oanda and i have a trade/investment in on the peso and once i made my trade to get interest then they changed the interest rates. i thought they had to keep there interest rate pegged at what ever the country's interest rate is. i felt cheated and robbed.
  • #4,460
  • Aug 31, 2015 4:02am Aug 31, 2015 4:02am
Unfortunately BlackBar, manipulating swaps according to demand on currency pairs is VERY common with forex brokers ;-( They can do whatever they want, whenever they want, and they use it ! I know how that feels.

Some good higher level brokers use benchmarks of the real interest rates, like Interactive brokers for example, so this doesn't happen.
Or you have to go to the futures market, you are 100% sure of what you will get until the contract expiration (typically 3 months), EVEN if interest rates change in that case.
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