Disliked{quote} Oanda changed their FIFO rules for US residents. Basically you can't have multiple orders that are the same lots size with TP or stop losses on them. If you want multiple orders with the same lot size then you have to remove the TP and the SL on all orders, or if you want to keep your TPs and SLs intact then any additional orders must be a different lot size.Ignored
It's crazy... OANDA is still good for some (increasingly) narowing segment of trade (sizes)... Since it does still (I think) have some rather good reputation..
Might be good for some AUM, conservative profit earning account... But not good for many (high stakes) strategies anymore... I will still keep it though, at least for now... But I must say that... I was very reluctant to switch broker.. but now that I have tried some other ones also... I feel like I started breathing again I might park some money/profits at Oanda, but will be watching it closely...
BTW do you know what I somewhat resent... I was notified by some other (big) broker about upcoming regulations, before they happened... Asked Oanda if they knew anything about it.. They knew nothing... or at least fake "calmed me" and then the regulations came as a shock... That Is why I am keeping some very big/famous broker.. keeping Oanda for their charts, reliability and hah... funny.. regulations (because for bigger size money, it is better to have regulated broker but will be playing/testing... for some/many strategies.. at other brokers that don't bother with anything at all... Oanda would be great if they would also have some ALTERNATIVE divison.. in Asia or somewhere exotic... which much less regulation.. But I guess they are not allowed that or not want to?
Can you afford to take that chance?