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  • #4,961
  • Apr 21, 2017 3:25pm Apr 21, 2017 3:25pm
Quoting nbfx
{quote} You're confusing managing their risk exposure with the mechanics of making their market and extracting their edge.
They absolutely do take the opposite side. They actually must disclose it on their website. Do some digging. Why do you think they were profitable on the SNB event when other brokers went bankrupt?
  • #4,962
  • Apr 21, 2017 3:33pm Apr 21, 2017 3:33pm
Quoting pipmaster77
{quote} They absolutely do take the opposite side. They actually must disclose it on their website. Do some digging. Why do you think they were profitable on the SNB event when other brokers went bankrupt?
Swiss shocker, it's called firewalls and risk management. Oanda = boss.
"Diversification is an excuse for a lack of talent" ~FXC
  • #4,963
  • Apr 21, 2017 7:40pm Apr 21, 2017 7:40pm
Quoting FXCapitalist
{quote} Swiss shocker, it's called firewalls and risk management. Oanda = boss.
From Oanda website:

The off-exchange foreign currency trading you are entering into is not conducted on an interbank market, nor is it conducted on a futures exchange subject to regulation as a designated contract market by the Commodity Futures Trading Commission. The foreign currency trades you transact are trades with the futures commission merchant or retail foreign exchange dealer as your counterparty. WHEN YOU SELL, THE DEALER IS THE BUYER. WHEN YOU BUY, THE DEALER IS THE SELLER. As a result, when you lose money trading, your dealer may be making money on such trades, in addition to any fees, commissions, or spreads the dealer may charge. (2) AN ELECTRONIC TRADING PLATFORM FOR RETAIL FOREIGN CURRENCY TRANSACTIONS IS NOT
  • #4,964
  • Apr 23, 2017 4:54am Apr 23, 2017 4:54am
Hopefully my post will get approved!
I have been trading demo account with LMFX. Does anyone know about this broker? I read several replies on here in several different threads about only a couple brokers available for US residents, but none mention this one. I am new to this and trying to learn so please mods let this post go thru so I can get some insight, it's just a question I have been trying to ask.
  • #4,965
  • Apr 23, 2017 9:00am Apr 23, 2017 9:00am
Anyone have experience with Oanda MT4 quitting on windows (Windows 10 Home, Version 1607, OS Build 14393.1066)?
It's just a practice account (but my son uses Oanda for actual trading), but it no longer opens in windows. Thought I would re-install, but Oanda has my user ID all locked up and I cannot seem to re-download MT4 from them - and there seems to be no support option I can access today.
Actions: Click to start Oanda Metatrader. Nothing happens. Open task manager and I can see a MetaTader(32 bit) process (using ~16.3% of my CPU). Killing that process and trying again doesn't help.
  • #4,966
  • Apr 23, 2017 9:08am Apr 23, 2017 9:08am
Maybe windows searc, h from the start up tab, oanda. Right click it and either open file location or Uninstall and then install again from oanda website.
  • #4,967
  • Apr 24, 2017 1:26am Apr 24, 2017 1:26am
Help! Hi guys.This morning i got a call from Oanda because my account has been locked for security reasons.They asked me all details to confirm that they talking with account owner. Oanda agent said your security check was successful your account is unlocked now.And you can use it again. Ant then started, in 1 hour i got about 20 emails with withdraval requests, my trade closed, new trades opened, money transfered to other oanda account.... about 40 unauthorised trancactions in 45 minutes.I contacted oanda explained what happened.They said its my fault i did all theese transactions.For security reasons they locked my account for further investigation. 25% of my deposit just gone. I think Oanda servers been hacked. Any ideas guys?
  • #4,968
  • Apr 24, 2017 6:50am Apr 24, 2017 6:50am
Quoting Uogienius
Help! Hi guys.This morning i got a call from Oanda because my account has been locked for security reasons.They asked me all details to confirm that they talking with account owner. Oanda agent said your security check was successful your account is unlocked now.And you can use it again. Ant then started, in 1 hour i got about 20 emails with withdraval requests, my trade closed, new trades opened, money transfered to other oanda account.... about 40 unauthorised trancactions in 45 minutes.I contacted oanda explained what happened.They said its my...
you should use two factor authenticator they offer
  • #4,969
  • Apr 25, 2017 12:25am Apr 25, 2017 12:25am
Quoting pipmaster77
{quote} They absolutely do take the opposite side. They actually must disclose it on their website. Do some digging. Why do you think they were profitable on the SNB event when other brokers went bankrupt?
That's what I was saying in an earlier post explaining their edge and how spread expansion is part of that edge.
  • #4,970
  • Apr 25, 2017 12:44am Apr 25, 2017 12:44am
Quoting nbfx
{quote} It would seem they are still up to their old tricks. Make no mistake here. The widening of spreads by market makers is perfectly legal depending on how/when it is done. They get away with it because they can claim that markets are volatile and illiquid at certain times. BUT OANDA make their own book (and maybe only offset those traders that constantly win against them into the underlying market). The use of wider spreads particularly at news time does two things. 1) It takes out stops that will either a) cause a loss for the trader b) cut...
Here's what I was saying...
  • #4,971
  • Apr 25, 2017 4:40pm Apr 25, 2017 4:40pm
Is it possible to change a non-MT4 subaccount to an MT4 subaccount? Debating whether or not to just apply for a new account after not having used Oanda for years because I have several non-MT4 subaccounts which is a little annoying since they cannot be deleted.
  • #4,972
  • Apr 25, 2017 9:32pm Apr 25, 2017 9:32pm
Dear,

I have an live account from Oanda.com, because I am a USA citizen. I have been trading there about 3 weeks. But I am so frustrated.
1. they do not allow about hedge trade. (NO buy and sell for same currency pair).
2. their SL does not work if there is a big slippage (see picture file).[attach]
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 96 KB
  • #4,973
  • Apr 26, 2017 10:07am Apr 26, 2017 10:07am
Quoting dwsong72
Dear, I have an live account from Oanda.com, because I am a USA citizen. I have been trading there about 3 weeks. But I am so frustrated. 1. they do not allow about hedge trade. (NO buy and sell for same currency pair). 2. their SL does not work if there is a big slippage (see picture file).[attach] {image}
So if you are a US Based trader with an NFA regulated broker (like Oanda) you are not allowed to hedge. Just do a google search and you can find the details. If you want to hedge you will need to go with an offshore broker. As far as your SL not getting triggered it looks like you may have had this trade over the weekend and there was a massive gap up on EUR/USD due to the French elections. Slippage is very common during high impact news especially over the weekend with gap opens. I was in a EUR/JPY buy and received positive slippage way above my TP. So slippage works both ways
  • #4,974
  • Apr 29, 2017 10:02am Apr 29, 2017 10:02am
Quoting dwsong72
Dear, I have an live account from Oanda.com, because I am a USA citizen. I have been trading there about 3 weeks. But I am so frustrated. 1. they do not allow about hedge trade. (NO buy and sell for same currency pair). 2. their SL does not work if there is a big slippage (see picture file).[attach] {image}
Thank your congressman - here in the land of the free, we are basically regulated to the point the spot forex market is unavailable.
  • #4,975
  • Apr 29, 2017 10:21am Apr 29, 2017 10:21am
That isn't "slippage". Slippage is when the broker tries to fill your order at the price but they have to fill it at a worse price because liquidity doesn't provide anything better. What happened to you was you left your position open on the weekend and were gambling that you will get no change or good change. What you're actually doing is opening yourself to infinite risk. The broker is not open on the weekend. They do not handle your trades on the weekend. The market is still open, however, even if it's very low liquidity, and price is almost guaranteed to have changed in the two days your broker was closed. In the future, close your trades before the weekend is here and you will eliminate that risk. Not Oanda's fault at all, all brokers that I know of do this.

As for FX being "unavailable"....because you can't hedge? Hedging is just paying spread twice. The few conveniences it offers (like keeping a hedged position open on weekends) isn't really that great, since you can just reopen your position again on Monday for the same cost it would have to have hedged in the first place.
  • #4,976
  • Apr 29, 2017 3:20pm Apr 29, 2017 3:20pm
Quoting Kanzler
As for FX being "unavailable"....because you can't hedge? Hedging is just paying spread twice. The few conveniences it offers (like keeping a hedged position open on weekends) isn't really that great, since you can just reopen your position again on Monday for the same cost it would have to have hedged in the first place.
There are only a very few remaining FX brokers in the US. Those few offer:
1) No hedging - if you like it or not, its available elsewhere.
2) Low Leverage - requires you to give a larger balance to the Broker, versus keeping your money in your own account.
3) Fewer trade-able instruments
- there's another thread where more of the 'protections' that US "Free" traders enjoy are listed.
And, there are very few overseas brokers that will accept US traders, after all, we are not free to do business in the same way's as the rest of the world. We are protected.
  • #4,977
  • Apr 29, 2017 3:41pm Apr 29, 2017 3:41pm
Quoting lukeb
{quote} There are only a very few remaining FX brokers in the US. Those few offer: 1) No hedging - if you like it or not, its available elsewhere. 2) Low Leverage - requires you to give a larger balance to the Broker, versus keeping your money in your own account. 3) Fewer trade-able instruments - there's another thread where more of the 'protections' that US "Free" traders enjoy are listed. And, there are very few overseas brokers that will accept US traders, after all, we are not free to do business in the same way's as the rest of the world....
This I can definitely agree with. Really sucks that we are not allowed to sign up for other brokerages without setting up residency in another country. Eventually I may do that if my account size merits it and sign up with dukascopy but it's a pain in the ass with US tax paperwork and offshore account disclosure if you want to stay on the right side of the IRS.
  • #4,978
  • May 1, 2017 3:37am May 1, 2017 3:37am
wow, sick, sorry to hear that. It is really weird, US is not russia or north korea, or china, and it should be free country.

I have a question. Is it worth to wait for some bonuses before opening an account here?

I am also thinking about opening demo account. If I will open demo account and lets say in future theres is some bonus for new accounts, will I be able to get it if not opened real one?

Or Oanda is so reputable broker that it does not give bonuses and have enough clients, so not worth to wait?
  • #4,979
  • May 1, 2017 1:06pm May 1, 2017 1:06pm
Quoting Kanzler
{quote} This I can definitely agree with. Really sucks that we are not allowed to sign up for other brokerages without setting up residency in another country. Eventually I may do that if my account size merits it and sign up with dukascopy but it's a pain in the ass with US tax paperwork and offshore account disclosure if you want to stay on the right side of the IRS.
Yeah I hear you. Thought about doing this with my corporate trading account but CPA said it's a tax nightmare and doesn't recommend. I opened a very very small offshore account with LMFX a few months ago and have been trading Gold, oil, indices, etc.....I believe they are still accepting US based clients.
  • #4,980
  • May 4, 2017 4:31am May 4, 2017 4:31am
How I can set bar close time on my chart in fxtrade ?
Even though I walk through the darkest valley, I will fear no evil
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