OANDA Discussion | Page 310 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Oanda GM Discussion 0 replies

Oanda users - Oanda widening spreads 62 replies

Oanda order filling discussion 6 replies

OANDA Canada vs OANDA Corp. 4 replies

Euro/Dollar discussion 9 replies

Attachments: OANDA Discussion
Exit Attachments

OANDA Discussion

  • #6,181
  • May 31, 2020 4:55pm May 31, 2020 4:55pm
I've had trouble accessing the web interface as of late. It was so bad that I had to sign in with another browser. Maybe deleting your history & cache might help. About the desktop application, when something like that happens, I just reboot my computer and the problem goes away. Also, make sure it's not your internet connection.
  • #6,182
  • May 31, 2020 5:01pm May 31, 2020 5:01pm
Quoting etrader65
I've had trouble accessing the web interface as of late. It was so bad that I had to sign in with another browser. Maybe deleting your history & cache might help. About the desktop application, when something like that happens, I just reboot my computer and the problem goes away. Also, make sure it's not your internet connection.
Thanks for your reply.

So are you able to connect to OANDA currently?

Never mind...OANDA is working for me now.

No restart required...OANDA just had to resolve their technical issues I guess.
Student of the Markets
  • #6,183
  • May 31, 2020 5:43pm May 31, 2020 5:43pm
Quoting loopd
{quote} Just to be clear, when you say it's a delicate topic are you refering what broker ppl use? why is that a sensitive topic? I did see some other comment about ppl private about there financials, to me how much in ur account is private but what broker you use, why is that private or are ppl just paranoid? About Oanda, I think for north america there is no much option for retail FX brokers, Oanda is much better than forex.com already. they rip u off with no bottomline
Delicate, because when it comes to advice on money and where to invest it, I would not want to be responsible for advising a bad choice to anyone. People with the best intentions can make mistakes and it's my way of telling the readers that I'm fully aware of this.

As for forex.com, I have not had an account with this broker, so I cannot give an opinion, and generally stating that one broker is much better than another is not very helpful, unfortunately. How do they "rip off" people? Some specifics would be most welcome. Thanks.

I'm looking for a decent ECN broker that is available for Canadian traders ...and if you think US traders don't have many options, try trading from Canada.
  • #6,184
  • May 31, 2020 10:03pm May 31, 2020 10:03pm
OANDA simply bypassed my buy stop order today. Unbelievable. Now the bid is 50 pips above my supposed entry.

I have seen this before at other market makers. the trigger price marked with shallow yellow and order is left not open. bad sign.
  • #6,185
  • Jun 1, 2020 1:44am Jun 1, 2020 1:44am
Quoting etrader65
{quote} Delicate, because when it comes to advice on money and where to invest it, I would not want to be responsible for advising a bad choice to anyone. People with the best intentions can make mistakes and it's my way of telling the readers that I'm fully aware of this. As for forex.com, I have not had an account with this broker, so I cannot give an opinion, and generally stating that one broker is much better than another is not very helpful, unfortunately. How do they "rip off" people? Some specifics would be most welcome. Thanks. I'm looking...

too much pain with forex.com I may complain some other time >.< but for ECN I really do not know any ECN broker under NFA. all brokers I am aware of that operate under NFA is forex.com and oanda which give them too much power to screw us all.
you can see that forex.com charge crazy spread even taken out commsion, Oanda is comparatively lower but still much higher than non-NFA brokers. I am just puzzled that it seems the regulation intentionally keep US ppl enter this market by manually worsen the market condition for whatever reason.
Attached Image (click to enlarge)
Click to Enlarge Name: forexcom.PNG Size: 356 KB
Attached Images
  • #6,186
  • Jun 1, 2020 6:13am Jun 1, 2020 6:13am
Quoting demark1
OANDA simply bypassed my buy stop order today. Unbelievable. Now the bid is 50 pips above my supposed entry. I have seen this before at other market makers. the trigger price marked with shallow yellow and order is left not open. bad sign.
Check Activity log for "boundary violation". This can happen if you set bounds on the entry order and its actually a feature.
  • #6,187
  • Jun 1, 2020 9:58am Jun 1, 2020 9:58am
Soon we will get new lower spreads from OANDA.
Attached Image
  • #6,188
  • Jun 1, 2020 2:52pm Jun 1, 2020 2:52pm
Quoting shrike
{quote} Check Activity log for "boundary violation". This can happen if you set bounds on the entry order and its actually a feature.
Found nothing in the log file. I think Oanda hold on the order for a seconds or 2 but the price moved up quickly so my order is left in the dust. Its interesting OAnda will lower the spread. If so I may keep this account.
  • #6,189
  • Jun 1, 2020 6:46pm Jun 1, 2020 6:46pm
I have been with oanda for at least 2-3 years. This week something weird happened with my mt4: tHe oldest transactions shown have a start date end of Feb 2020 despite having selected "show all history". I contacted them and I was told to refresh the mt4 (relogin) - it didn't work. I remember prior to this I changed a setting in mt4 in order to try and fix a performance issue (I cut in half the # of bars to be displayed on chart). I did revert this setting and also tried a 2nd mt4 - no luck. Any suggestions? Thanks.
  • #6,190
  • Jun 1, 2020 8:27pm Jun 1, 2020 8:27pm
Quoting Hutch
Soon we will get new lower spreads from OANDA. {image}
i have not seen this. where did you get this from?
  • #6,191
  • Jun 2, 2020 3:02pm Jun 2, 2020 3:02pm
Quoting emadmax001
I have been with oanda for at least 2-3 years. This week something weird happened with my mt4: tHe oldest transactions shown have a start date end of Feb 2020 despite having selected "show all history". I contacted them and I was told to refresh the mt4 (relogin) - it didn't work. I remember prior to this I changed a setting in mt4 in order to try and fix a performance issue (I cut in half the # of bars to be displayed on chart). I did revert this setting and also tried a 2nd mt4 - no luck. Any suggestions? Thanks.

Read my previous answers and my signature and run!!
Oanda on purpose delete data from demo feed to make testing difficult. They randomly delete data. See below:

Attached Image (click to enlarge)
Click to Enlarge Name: OANDA motherfuckers.png Size: 30 KB


This happen again and again, you cannot trust data and OANDA. OANDA support said to me to talk to Metatrader company as the problem is with MT4 but on their site they said that they support it. They are liars and dung shit company.
I wander why the authorities do not close them and how they are still in business.
Check your live accounts and see if that is also in live! Start with my picture.
You will find OANDA sellers here talk about live, but NONE remember to talk about inactivity fees. They WANT YOUR MONEY give them the finger
Stop using OANDA!You will lose money,they stop PRACTICE accnts, kept SPIKES
  • #6,192
  • Jun 2, 2020 4:21pm Jun 2, 2020 4:21pm
Quoting rtopa43
{quote} Read my previous answers and my signature and run!! Oanda on purpose delete data from demo feed to make testing difficult. They randomly delete data. See below: {image} This happen again and again, you cannot trust data and OANDA. OANDA support said to me to talk to Metatrader company as the problem is with MT4 but on their site they said that they support it. They are liars and dung shit company. I wander why the authorities do not close them and how they are still in business. Check your live accounts and see if that is also in live! Start...
If you had opened your charts every day from 13 to 27 May you wouldn't have had this problem. By the way I have been trading with OANDA since 2005 and never had any inactivity fee. Oops, I guess this is because I'm active
  • #6,193
  • Jun 2, 2020 8:29pm Jun 2, 2020 8:29pm
It seems that having my account in CAD is causing me financing fees up the hew-hah (over $150 since May 17th, 2020 on 1 to 2 positions of 15 to 20 units). These are charged daily for as long as you are in the trades. I'm a hobby trader. I had a great position in WTI and looking for new entries, but decided to cash it out today. They've got me shaking in my shoes to see what they're going to come up with next to make me feel like I'm working for a pimp.

What's worse, they've raised the margin on WTI today again and have announced they are going to raise it even further on the 5th. These guys are desperate, OMG! There's a saying: "If you can't stand the heat, get out of the kitchen". I say there's no need to be flogging a dead horse, there are cooler kitchens out there.

For USD traders, I suppose you can still make money, so I wish you the best. As for me, I'm officially done with OANDA. Just placed my withdrawal orders. I'm starting up with a new ECN/DMA broker this week.
  • #6,194
  • Jun 3, 2020 6:56am Jun 3, 2020 6:56am
Hi guys can someone explain fifo laws?
I didn’t understand it here..
Attached Image (click to enlarge)
Click to Enlarge Name: 21502D8F-56D0-495B-80B6-6591046DF78E.png Size: 256 KB
Power is not will, it is the phenomenon of making things happen
  • #6,195
  • Jun 3, 2020 8:14am Jun 3, 2020 8:14am
Quoting etrader65
It seems that having my account in CAD is causing me financing fees up the hew-hah (over $150 since May 17th, 2020 on 1 to 2 positions of 15 to 20 units). These are charged daily for as long as you are in the trades. I'm a hobby trader. I had a great position in WTI and looking for new entries, but decided to cash it out today. They've got me shaking in my shoes to see what they're going to come up with next to make me feel like I'm working for a pimp. What's worse, they've raised the margin on WTI today again and have announced they are going to...
I hear you on this one, why the hell is WTI still 265% funding when the fwd contract are now much more aligned - Brent is 43% that massive WTI financing hike pushed me out of my position for a big loss that would now be profitable - advance warning of oooh 24hrs, if I was not scaling in as it went down I would have been out my entire account!
No Palladium or Platinum for months now either.
Not sure where to go though inn UK, IC is a possibility, but try to find reviews and half of them are talking about IG !
  • #6,196
  • Jun 3, 2020 9:37am Jun 3, 2020 9:37am
Quoting etrader65
What's worse, they've raised the margin on WTI today again and have announced they are going to raise it even further on the 5th. These guys are desperate, OMG! There's a saying: "If you can't stand the heat, get out of the kitchen". I say there's no need to be flogging a dead horse, there are cooler kitchens out there. For USD traders, I suppose you can still make money, so I wish you the best. As for me, I'm officially done with OANDA. Just placed my withdrawal orders. I'm starting up with a new ECN/DMA broker this week.
It all depend on your status as a retail client you need a higher margin (lower leverage) and all brokerage firms are free to change it as long as it stays within the limit allowed for retail traders in the country concerned. As a pro trader I get a margin of 1:100 for everything but at the price of having no protection if the firm goes bust. OANDA Canada offers balance protection if the firm goes bankrupt. Please make sure that your new broker offers the same.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD-H1.png Size: 35 KB
  • #6,197
  • Jun 4, 2020 3:24am Jun 4, 2020 3:24am
Quoting Hutch
Soon we will get new lower spreads from OANDA. {image}
Interesting Hutch
I didnīt get that message, is that only for pro accounts?
  • #6,198
  • Jun 4, 2020 6:44am Jun 4, 2020 6:44am
Hello guys, first time poster.

I've been reading the recent posts of this thread trying to see the sentiments towards recent Oanda changes in their fees structure. So far I haven't seen any real debate about the true costs of trading with Oanda, especially after what they did in late December of 2019.

Let me tell you, your main concern should be the admin fee hike. Historically, from the data I have, I can see it was 1%. Suddenly it is 2.5%. That's a massive x2.5 increase. While the number doesn't look impressive by itself, let me provide a deeper look at what it actually means and why you should be very concerned.

Let's analyse an example: suppose you want to trade S&P 500. Great, you can get exposure to it with e-mini S&P 500 futures (ES), but if you're low on capital, you may look at CFDs like Oanda's that allow you to size the position at tiny fractions of a real future contract.

Let's say you are a very slow trader and do 1 trade per year, holding the instrument for a year. How much would that cost you?

1) In case of e-mini futures your trading cost consists of two parts:
a) One round-turn to open and close the position: spread + commission
b) 4 contract roll-overs (as there are 4 active contracts in ES/SP: HMUZ months)

So in total, you'd have crossed the spread and paid commission 5 times in a year.
e-mini ES is a super liquid instrument and the spread is the absolute minimum of one tick, that is 0.25 points
The commission on Interactive Brokers is just $0.85
The contract multiplier for ES is 50 (1 point = $50), so your total cost of trading would be: (0.25 x 50 + 0.85) x 5 = $66.75 per year per contract, assuming no slippage (your size is probably too low to get any significant slippage).

2) Now let's turn to Oanda CFDs. To get the same exposure, you'd need to buy 50 units of US SPX 500. At the time of writing the spread appears to be 0.4 and price at about 3106. The trading cost consists of two parts:

a) One round-turn to open and close the position: just the spread (0.4 x 50 = $20)
b) The financing (holding) costs:
Today the financing rates for US SPX 500 is set at -2.83% for long position and -2.17% for short.

This consists of -2.5% admin fee and 0.33% price adjustment (which equals to 3 months USD LIBOR). We can ignore the latter rate because it is just a symmetric price adjustment (-0.33% for long, +0.33% for short) to keep CFD in line with the next nearest futures contract.

What does 2.5% fee mean for us?
At the current price of 3106, assuming it won't change significantly over the year, and 50 units of exposure (same as 1 e-mini contract) you would pay 3106 x 0.025 x 50 = $3882.50

Add the $20 cost for crossing the spread (which becomes insignificant in the light of "admin fee") and you get a whopping $3902.50 trading cost per year!
(think about it for a moment, what would it be like with 1% "admin fee" that was present until 2020 - cost of $1553.00 vs. new and "improved" $3882.50)

Let's compare.
S&P500 x50 exposure, holding for a year, one entry and exit:
e-mini ES futures: $66.75
Oanda CFDs: $3902.50 (almost 60 times more expensive)

Additional note:
From a risk management perspective, assuming the long term annual volatility of S&P500 being around 20%, 50 units of exposure equals to about $31000 annual volatility. In the case of CFD you would lose $3902 / $31000 = 0.13 Sharpe ratio. While it is still doable, think how much you are getting ripped off compared to futures trading and how much better it was before the recent admin fee hike from 1% to 2.5%.

If there is interest, I can work out an example for shorter term trading in the next post.
  • #6,199
  • Jun 4, 2020 7:12am Jun 4, 2020 7:12am
Quoting cuchuflito
{quote} Interesting Hutch I didnīt get that message, is that only for pro accounts?
I hope not since all traders need lower costs. I already have the 0.2 spread discount but the biggest spread decrease is in CFDs since when the markets went crazy last March OANDA increased their spreads on CFDs even doubling the spread for the UK 100 from 0.8 to 1.6. What I liked is that OANDA didn't prohibit traders from shorting oil; most brokers did.
  • #6,200
  • Jun 5, 2020 1:51am Jun 5, 2020 1:51am
Quoting TheSecrets
Hello guys, first time poster. I've been reading the recent posts of this thread trying to see the sentiments towards recent Oanda changes in their fees structure. So far I haven't seen any real debate about the true costs of trading with Oanda, especially after what they did in late December of 2019. Let me tell you, your main concern should be the admin fee hike. Historically, from the data I have, I can see it was 1%. Suddenly it is 2.5%. That's a massive x2.5 increase. While the number doesn't look impressive by itself, let me provide a deeper...

Hi The Secrets
How did you calculate that number?
I used this tool provided by OANDA:

https://www.oanda.com/embed/show/interest_calc/1/?

Trading daily forex pairs, and keeping my winners for about 2 months, it eats a bit less than 10% of the profits, which is ugly. Add taxes...not easy to make any $, with those costs.
11 traders viewing now