Comments on: Oanda Review

By: BANEYA

BANEYA — Wed, 16 Dec 2009 07:07:57 +0000

I have been with Oanda for about a year. Oanda is a market maker so they actively trade against there customers. They actively hunt stop losses. Oanda’s trading platform freezes often. I have lost my connection to my trading account while trading and they told me that I was having internet connectivity problems even though I could get to other web sites and log in to my email without a problem. They also did not know that I used to be a network administrator before telling me that I was having internet connectivity problems. Oanda is a highly manipulated environment. The correct term for this type of broker is a “Bucket Shop”

ECN brokers are the most free market breed of broker. They do not have a dealing desk that can be manipulated. ECN brokers want you to be successful because they make money when you make money. Oanda makes money when you loose. As time moves forward traders will opt for ECN brokers and market makers will go bust.

By: Debty

Debty — Sun, 26 Jul 2009 21:51:07 +0000

Ahaan… I will follow.

By: jim

jim — Mon, 19 Jan 2009 02:30:34 +0000

oanda is a market maker, and at news time the speards are crazy and thats me being nice,. funny things happen at oanda when you start making money, couldnt login to the platform, on 2 different connections,.. could of been my pc? i dont know, but any way moved on to a ECN miles apart from market makers,

if you want to gamble go to a market maker, if you want trade proper REAL in the fx market go to a ECN,. simple as that

By: Gina

Gina — Sat, 05 Jul 2008 23:32:42 +0000

Oanda Forex has just launched a new forum for there members and clients to talk about different trading methods and tricks to making faster money on there deal books this is the link to the new forum: http://www.oandaforexforum.com/

By: Rohan

Rohan — Tue, 01 Jul 2008 21:44:03 +0000

oh PS: is anyone knows a good platform for trading the news please let me know my email address is swabie_7@hotmail.com

By: Rohan

Rohan — Tue, 01 Jul 2008 21:39:33 +0000

I would recommend to anybody as long as they are not trading the news. Its is especailly good for new traders as u get an unlimited demo plus a platform that is very user friendly (u dont need to watcha video to learn how to use it).
However, in the area of slippage, i can tell u its there. I have experiend its many times. But this is not unique to Oanda. As i said before, if ur not trading the news oanda is definitely one of the best out there.

By: mike

mike — Mon, 24 Mar 2008 17:17:33 +0000

Widening spreads allows oanda to make their money – when tens of thousands of people rush in during the news is can become difficult for the MM to effectively manage their positions – if the positions are against their positions. just don’t trade the news. sooner or later you’ll get wiped out trading the news anyway. don’t forget, MM lend you money to trade with – it makes perfect sense why the spreads widen.

By: fadia almomani

fadia almomani — Sat, 23 Feb 2008 06:58:31 +0000

everything looks too good for oanda,but their huge spread during the news is bad enough to hit you stoploss whereever it is.all my money disappeared at oanda because of that.

By: alinoeee

alinoeee — Mon, 14 Jan 2008 14:53:47 +0000

worst demo so far. it disconnected me3 times in an hour for bout 2 minutes though net connection is ok.

By: fxindo

fxindo — Sun, 30 Sep 2007 03:29:07 +0000

oanda is bad for trade in news time.

http://www.fx-indo.com

By: Derek

Derek — Thu, 26 Jul 2007 02:44:30 +0000

It is strange that no one ever mentions that Oanda provides continuously compounded interest because they charge a huge interest rate spread. You are being dragged through that spread in continuous time. The bid-offer is not the only cost for a professional FX trader. From my perspective Oanda is a loan business with FX trading as a distraction. Has anyone ever looked at the roll costs versus those implied by the forward market?!? The only reason these retail platforms exist is to take your money by providing you leverage and charging a huge spread. I can’t image any professionals using this platform.

By: Mark

Mark — Fri, 12 Jan 2007 17:03:21 +0000

Oanda is a big SCAM, they are increasing the spread 20 to 30 pips during news anouncements , this is stop hunting practice, they are the worst broker, be very carefull.

By: Rich

Rich — Sun, 24 Dec 2006 10:44:09 +0000

I use Oanda, three years now, I am also using Marketiva, which has 100:1 as an only option, and Marketiva has poor quality charts, once you get used to them , you will like seeing that they go back to 1993 sometimes!
I follow both at the same time, and I noticed marketiva seems to have a 4 or 5 second advanced signal in their favour! when compared to the true signal I watch on Oanda…alsoI find M. collects a spread on entry AND on exit, so yes, …I really liike Oandas features! Also Marketiva reduces your available balance “As you place entry orders” which are not even triggered!! …now, if you have some trades already in progress, it can lead into a margin call, …for no reason! Oanda only reduces your account “As trades are actually begun” …so, in essence, you could have 20 limit orders on board, and wait, …until a couple trigger, then cancell the others, no danger to your margin call. Ok enough, I like Oanda, but watch more than one platform at once.

By: someguy

someguy — Tue, 14 Nov 2006 22:51:48 +0000

I’ve never encountered a rude rep. Well, maybe once, but they were returning the attitude I was giving them. Your situation must have been similar… maybe outsourcing to India is not a good idea.

By: Harinder

Harinder — Sun, 12 Nov 2006 15:58:10 +0000

Big Plus: 24 Hour LIVE Customer Service. Downer: Rude and condescending reps. Dear Oanda, might want to consider outsourcing to India, at least we’ll be courteous.

By: Don Lapre Watcher

Don Lapre Watcher — Fri, 03 Nov 2006 20:18:21 +0000

I found Oanda about 4 mo ago and have been doing well with it. I do understand the concern with capatability but I have nothing bad to say about it and actually prefer it these days.

Ken
http://www.j-ams.org
ken@j-ams.org

By: Currency Secrets » Blog Archive » “Broker Demo Accounts Are A Shill…”

Tue, 05 Sep 2006 02:59:56 +0000

[...] Several brokers around the place are beginning to offer micro mini positions and minimum account opening balances of around US$200-300. Forex brokers such as Oanda offer $1 lot position sizes. [...]

By: Steve

Steve — Thu, 10 Aug 2006 06:08:54 +0000

Oanda could be the best broker out there if they would add trailing stops, OCO orders, be able to straddle the account (long/short) and increase the leverage to 100 to 1. I agree Orabi that people tend to use too much leverage, but I would like to see 100 to 1 so that I can leverage myself in very particular circumstances when scalping the market. The additional leverage could come in handy if I am already holding positions. Anyone holding positions and utilizing more than 10 to 1 is asking for trouble (even at that level it’s probably too much unless you have a reasonable stop).

By: Alexey

Alexey — Thu, 11 May 2006 05:14:37 +0000

Oanda publishes informatuin about Open Orders of their clients.

I wrote a software to determine exectly where Stop Losses and Take Profits of Oanda’s clients are.

You can download it fo free from my site http://www.oanda-indicator.co.nr/

By: showkat akbar

showkat akbar — Sun, 09 Apr 2006 11:11:54 +0000

I got several accounts with oanda, trading with them from 2001. since then a lots of improvement has gone with the interface. But still I need to add the following into my wish list,
1. 2h, 4h, weekly and Monthly chart.
2. Daily chart with more then a year data
3. 100:1 levarage.
4. Trailing stop.
Oanda is #1 choice for me