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OANDA Discussion

  • #4,981
  • May 5, 2017 9:25am May 5, 2017 9:25am
From Oanda today:

The Swap or Interest/Financing charges (or credit) are charged differently by OANDA in terms of them being charged by the minute rather than applying the full 24 hour at 5pm ET.

Instead, the charge or credit is applied when the trade closes and is dependent on how long the trade has been held.
If the trade is kept open, at 4pm ET the charge or credit is applied based on how long the trade has been open.

For example, if a trade is opened at 10am ET and is still open at 4pm ET, the charge or credit would be 1/4 of the full 24 hour charge because the trade has only been open for 6 hours.
If a trade is kept open for from 4pm one day to 4pm the following day, than the full swap/financing/interest charge or credit will apply at 4pm.
if a trade is opened at 10am and closed at 11am than the charge or credit will be 1/24th of the full 24 hour charge or credit.
  • #4,982
  • May 5, 2017 9:33am May 5, 2017 9:33am
It has always been like that at Oanda. In the past they even charched/credited the swap right after you close the trade.
  • #4,983
  • May 5, 2017 9:48am May 5, 2017 9:48am
That's interesting because, as I understand it, it doesn't cost them anything unless 1) they send your trade to the market instead of keeping it and 2) your trade is held through daily rollover. Please correct me if I'm wrong, but this looks like a way for Oanda to create another income stream.
  • #4,984
  • May 5, 2017 10:22am May 5, 2017 10:22am
Yes it probably is an earner for them. I guess thats why they kept it, even after Olsen's depature. It was one of the professor's pets. Realtime financing as well as continous weekend and holiday trading (they stopped that after getting burned a few times).
  • #4,985
  • May 5, 2017 12:25pm May 5, 2017 12:25pm
Email I wrote to Oanda today: I understood that Oanda is charged/paid SWAP only at rollover for those trades that Oanda decides to not hold and sell to the market. Why does Oanda charge clients rollover when there is no rollover cost to Oanda, when trades are not rolled over?

Their reply:
The model that OANDA has adopted regarding the rollover/financing charges or credit is that we charge or pay for intraday trading.
For example, we will pay you interest on a AUD/JPY Buy intraday trade.
If you enter the Buy trade on a standard lot (100,000 units) at 9am and close it at midday, you will be paid $0.23 USD.
  • #4,986
  • May 9, 2017 5:56pm May 9, 2017 5:56pm
Good day traders, I am looking for a new broker as I was with XM since Jan 2016 but for whatever reason (managerial decision), XM decided to not carry Canadian clients anymore.

I am curious about OANDA for Canadians. Any Canadian traders with OANDA can give me some feedback on their experiences, benefits and drawbacks to this broker? I would appreciate objective feedback. Thanks.

Another broker I am looking at is ICMarkets. Anyone have experience with either/or both of these brokers? Thanks in advance.
  • #4,987
  • May 25, 2017 2:47am May 25, 2017 2:47am
Austalians(Aussies) using Oanda.....I have asked before but no reply..Does this mean no aussie is using Oanda ???..Most interested in the experience of any Aussie using this company in Australia....Have been offered a bonus to set up a live account...Reminds when back in the dark ages Bucket Shops offered bonuses
Cheers,
Ronald
Ronnie Renko
  • #4,988
  • May 25, 2017 6:24am May 25, 2017 6:24am
Quoting Ced74
Austalians(Aussies) using Oanda.....I have asked before but no reply..Does this mean no aussie is using Oanda ???..Most interested in the experience of any Aussie using this company in Australia....Have been offered a bonus to set up a live account...Reminds when back in the dark ages Bucket Shops offered bonuses Cheers, Ronald
Why would an Aussie use this broker? You have every top of the line regulated DMA/ECN broker in the world at your disposal. Why would you choose a shady, market maker who holds the other side of your trades? Wish I had your options!!!
  • #4,989
  • May 26, 2017 9:37am May 26, 2017 9:37am
Hello Guys,

Just recently I read this Oanda review where the author states:

Quote
...to please more active traders the company introduced core pricing. This means raw spreads + 5 USD per 100.000 amount.

Does anyone obtain already such "core pricing" account?
  • #4,990
  • May 29, 2017 8:22pm May 29, 2017 8:22pm
Quoting Denden2012
Good day traders, I am looking for a new broker as I was with XM since Jan 2016 but for whatever reason (managerial decision), XM decided to not carry Canadian clients anymore. I am curious about OANDA for Canadians. Any Canadian traders with OANDA can give me some feedback on their experiences, benefits and drawbacks to this broker? I would appreciate objective feedback. Thanks. Another broker I am looking at is ICMarkets. Anyone have experience with either/or both of these brokers? Thanks in advance.

I have used many different brokers in the past from Oanda,Duka,fxcm,mfglobal,Darwinex, and I have been trading for ten years full time and the best broker I have used has been ICmarkets.. They weren't very good a few years back but now you wont find a better broker for A and B Booking unless you go Prime broker.. They have Mt4 and Ctrader and they are fair and I scalp and it the only broker I have used in the past who hasn't slipped my entries or stops.. Very good! I have been with them for the past 2 years and nothing but good things to say about them and swap rates are the best.. I would also recommend Darwinex these are two very good brokers..
  • #4,991
  • May 30, 2017 11:33am May 30, 2017 11:33am
Today Oanda's "Advanced" Charts failed to load properly and/or would freeze in a variety of time frames, and pairs. A stagnant chart cost me a 20 pip loser before I realized the chart was frozen. After sending am email with screen shots, a description of the problem and a phone call (long hold times, as always!) Oanda credited me for the full amount of the trade within a couple hours. They claim the problem will be fixed by the end of the week.
  • #4,992
  • May 31, 2017 1:20am May 31, 2017 1:20am
Quoting Tradingwithw
I deposit and withdraw just fine with Oanda Also, my trade explorer is based on their OANDA-v20 Live
Why your OANDA-fxTrade-v20 Live TE shows "Trade Explorer functionality is limited because there are no closed trades in this brokerage account." ?

I have created also an OANDA-fxTrade-v20 Live TE, but I have the same error. I think fxTrade-v20 account is not implemented yet by FF website...

Anyone here who have an OANDA-fxTrade-v20 Live TE whithout above error ?
I am who I am
  • #4,993
  • May 31, 2017 12:54pm May 31, 2017 12:54pm
Hello traders!

Commission Pricing tiers are now available for US traders. Many traders have asked for this, and this is now an option (spread or commissions) for US traders. Global availability coming soon.

Standard Account

Spreads
or
Commission at $5 per side per 100K

Premium Account

Reduced Spreads
or
Reduced Commission at $4 per side per 100K

Attached commissions and reduced commissions price sheet for reference.

Please contact OANDA directly if you have questions around commissions, premium accounts, or anything else. 1 877 626 3239 (or contact your RM directly).

Happy trading!
Attached File(s)
File Type: pdf PriceSheet-OC-Reduced-20170501.pdf   197 KB | 944 downloads
File Type: pdf PriceSheet-OC-Standard-20170501.pdf   203 KB | 643 downloads
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #4,994
  • May 31, 2017 1:04pm May 31, 2017 1:04pm
Quoting dwe213
Today Oanda's "Advanced" Charts failed to load properly and/or would freeze in a variety of time frames, and pairs. A stagnant chart cost me a 20 pip loser before I realized the chart was frozen. After sending am email with screen shots, a description of the problem and a phone call (long hold times, as always!) Oanda credited me for the full amount of the trade within a couple hours. They claim the problem will be fixed by the end of the week.
Hi dwe213,

This issue has been fixed.

In regards to your issues with the long wait time, as you qualify for a Premium account, you have a direct contact and priority service through your RM (Terry) who is more than happy to assist you with anything that you need. Please feel free to reach out to him directly as the regular customer service line does usually receive high call volumes, and wait times can vary.

We're happy to have resolved the issue for you, please let Terry know if you run into any further issues.

Happy trading!
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #4,995
  • May 31, 2017 2:10pm May 31, 2017 2:10pm
Quoting OANDARep
Hello traders! Commission Pricing tiers are now available for US traders. Many traders have asked for this, and this is now an option (spread or commissions) for US traders. Global availability coming soon. Standard Account Spreads or Commission at $5 per side per 100K Premium Account Reduced Spreads or Reduced Commission at $4 per side per 100K Attached commissions and reduced commissions price sheet for reference. Please contact OANDA directly if you have questions around commissions, premium accounts, or anything else. 1 877 626 3239 (or contact...
So...the cost is either $8 or $10 per 1 LOT USD traded (100,000 units) from open to close, plus the spread.
  • #4,996
  • May 31, 2017 3:44pm May 31, 2017 3:44pm
Quoting dwe213
{quote} So...the cost is either $8 or $10 per 1 LOT USD traded (100,000 units) from open to close, plus the spread.
I know and they make it sound like a good deal. lol
  • #4,997
  • May 31, 2017 3:50pm May 31, 2017 3:50pm
Quoting dwe213
{quote} So...the cost is either $8 or $10 per 1 LOT USD traded (100,000 units) from open to close, plus the spread.
You got it.
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #4,998
  • May 31, 2017 3:58pm May 31, 2017 3:58pm
Quoting pipmaster77
{quote} I know and they make it sound like a good deal. lol
Hi Pipmaster77,

Quite a few traders have switched to commission based trading, as algo traders, or scalpers tend to like tight spreads to deal on. The mechanics of your trade are affected differently with a commission model vs the spread model - but they are simply options to choose from. So price alone is not the only factor to consider when deciding what pricing model to use.

The rates offered with a commission model are easily adjusted, as we simply reduce the commission charged. So if the volume is there, we are more than happy to work with you. Are you a high volume trader?
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #4,999
  • May 31, 2017 4:22pm May 31, 2017 4:22pm
Quoting OANDARep
{quote} Hi Pipmaster77, Quite a few traders have switched to commission based trading, as algo traders, or scalpers tend to like tight spreads to deal on. The mechanics of your trade are affected differently with a commission model vs the spread model - but they are simply options to choose from. So price alone is not the only factor to consider when deciding what pricing model to use. The rates offered with a commission model are easily adjusted, as we simply reduce the commission charged. So if the volume is there, we are more than happy to work...
i agree $8 vs $10 is bullshit man..and you know this.., it's too far from industry commission norm

can you make it $6 vs $10..then we have a deal

yes, i'm a premium account holder
  • #5,000
  • May 31, 2017 4:33pm May 31, 2017 4:33pm
OandaRep: InteractiveBrokers is doing the same for $2 per 100K. Not sure whats the point with this pricing.
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