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OANDA Discussion

  • #6,681
  • Jan 24, 2022 2:16pm Jan 24, 2022 2:16pm
Quoting snikoz-cad
@acetrader I never quite understood the bad rap that ppl here give Oanda. Yes the spreads are not great compared to offshore/European/Asian brokers. But if you give them enough volume they're going to give you rebates that effectively bring the commissions in line with the other brokers. Basically the ppl on here who are complaining have small accounts and can't avail themselves of the rebates that are offered. I recommend NAV of $15000 USD or higher in the acct to have a pleasant experience with Oanda. Also, if you develop a great algo you can...
Snikoz-cad,
Thank you for that response. You raise some good points. We as USA traders are limited in our FX broker options.

Best of trades to you my friend.
  • #6,682
  • Jan 26, 2022 2:04pm Jan 26, 2022 2:04pm
Oanda fxtrade is with delayed data... at least in the last 20 minutes.
  • #6,683
  • Feb 5, 2022 1:30am Feb 5, 2022 1:30am
Quoting snikoz-cad
@acetrader I never quite understood the bad rap that ppl here give Oanda. Yes the spreads are not great compared to offshore/European/Asian brokers. But if you give them enough volume they're going to give you rebates that effectively bring the commissions in line with the other brokers. Basically the ppl on here who are complaining have small accounts and can't avail themselves of the rebates that are offered. I recommend NAV of $15000 USD or higher in the acct to have a pleasant experience with Oanda. Also, if you develop a great algo you can...
oanda is not exactly a scam market maker but this company lied a lot. at one time, they forced me to close my position saying it's regulatory change but later said there is no regulatory change. after stopping me from logging in to my account, they start charging inactivity fees. i tried to complain but until today, i'd not get my money back. this had been 2 years. think twice before you open oanda. since it was sold, they do funny business.
  • #6,684
  • Feb 15, 2022 8:07pm Feb 15, 2022 8:07pm
Every USA broker I do research on seems like a scam in some way

Been using TW and grandfathered in but only take withdraws as bitcoin. Pain in the nuts vs bank deposit.
maybe I'll just stay for the easy rules and big leverage. UGH
  • #6,685
  • Feb 16, 2022 12:37am Feb 16, 2022 12:37am
Quoting tommbstone
Every USA broker I do research on seems like a scam in some way Been using TW and grandfathered in but only take withdraws as bitcoin. Pain in the nuts vs bank deposit. maybe I'll just stay for the easy rules and big leverage. UGH
Hi tommbstone,

They are all MM's. Had been thinking of returning to Forex, but no way as there is no good among them. Going to stay with Futures Market. In the USA it appears we are limited to only 3 or 4 & they are seemed to be the same. What is TW you mentioned?

Best of trades to you.
  • #6,686
  • Feb 16, 2022 6:17am Feb 16, 2022 6:17am
TM is traders way
I started out with commodities but it requires a lot more than 5k to start.

TM is only paying out with bitcoin now. I looked at Oanda and IC and they have a million complaints. I guess its just a risk to take.

good trading to you sir
  • #6,687
  • Feb 16, 2022 8:37am Feb 16, 2022 8:37am
I am running V20 in Python and it has been working for quite sometime until this morning. Anyone else having problems running V20 today Feb 16th?
  • #6,688
  • Edited 12:54am Feb 17, 2022 12:17am | Edited 12:54am
Zero problems throughout Feb 16 Europe.
  • #6,689
  • Feb 19, 2022 1:05pm Feb 19, 2022 1:05pm
Quoting tommbstone
TM is traders way I started out with commodities but it requires a lot more than 5k to start. TM is only paying out with bitcoin now. I looked at Oanda and IC and they have a million complaints. I guess its just a risk to take. good trading to you sir
Typically people complain after losing much or all of their money.

They're not perfect but overall they are a better broker in all the categories.

The rest depends on the customer.
  • #6,690
  • Feb 19, 2022 5:42pm Feb 19, 2022 5:42pm
Quoting Fml
{quote} Typically people complain after losing much or all of their money. They're not perfect but overall they are a better broker in all the categories. The rest depends on the customer.
Hi Fml,
Wanted to add a bit to what you stated. I have taken a hard look at the complaints against Oanda & it does appear a large amount of the complaints stem
from traders losing their funds simply because they lack trading skills. Then we have to look deeper & realize Oanda is a Market Marker no matter that the website will say there is NO Dealing Desk. I'm not really so sure of that. From what I've seen on their demo Oanda has the best looking & easiest to navigate trading platform I've ever used since the days of FXCM. I am considering trying a small live account with Oanda, but no sure just yet. Now trading currency futures & the Dow at this time, but I do miss Forex as that's where I started after leaving stocks.

All in all, you are correct, most complaints are from traders that are victims of their own lack of trading skills. That is not the broker's fault.

Best of trades to you.
  • #6,691
  • Feb 20, 2022 4:22pm Feb 20, 2022 4:22pm
Yeah people crying the broker is a cheat when they have no skill's is hardly fair.

As long as TW pays out the bitcoin I will deal with it.

I am doing a demo with Onada now but that 50-1 is awful LOL
  • #6,692
  • Feb 21, 2022 7:38am Feb 21, 2022 7:38am
Quoting tommbstone
Yeah people crying the broker is a cheat when they have no skill's is hardly fair. As long as TW pays out the bitcoin I will deal with it. I am doing a demo with Onada now but that 50-1 is awful LOL
Interested in your feedback on the demo & on a live account should you chose to do so. They have the best user-friendly platform from what I see.
As you know all the goodness is subject to fade when in live mode. Notice I did subject to change.

Best of trades to you.
  • #6,693
  • Feb 22, 2022 2:19pm Feb 22, 2022 2:19pm
Currently on demo

wish they had US30
  • #6,694
  • Feb 23, 2022 12:41am Feb 23, 2022 12:41am
Quoting tommbstone
Currently on demo wish they had US30
Oanda has US Wall St 30 but maybe due to your region you dont access to it like i dont have BTC/USD
  • #6,695
  • Feb 23, 2022 3:02am Feb 23, 2022 3:02am
Anybody knows why Oanda shows (again) a 4-days swap on FX pairs, while on Feb 28 is no any holidays ?
https://www.oanda.com/us-en/trading/financing-fees/
I am who I am
  • #6,696
  • Feb 24, 2022 8:46pm Feb 24, 2022 8:46pm
Quoting imwim
Anybody knows why Oanda shows (again) a 4-days swap on FX pairs, while on Feb 28 is no any holidays ? https://www.oanda.com/us-en/trading/financing-fees/
It was a 4-days swap, followed by a no day swap...possible a system bug...
I am who I am
  • #6,697
  • Mar 1, 2022 5:36pm Mar 1, 2022 5:36pm
Quoting xy100
{quote} Oanda has US Wall St 30 but maybe due to your region you dont access to it like i dont have BTC/USD
Im in USA yeah I don't see bitcoin either
  • #6,698
  • Mar 1, 2022 6:31pm Mar 1, 2022 6:31pm
Quoting acetrader
{quote} Snikoz-cad, Thank you for that response. You raise some good points. We as USA traders are limited in our FX broker options. Best of trades to you my friend.
Yeah because in the USA it's illegal for a broker to offer cfds. And the only way you can trade them is with a prop firm because prop firms aren't brokers

but use those at your own risk.... I just might....
  • #6,699
  • Mar 19, 2022 3:37am Mar 19, 2022 3:37am
Quoting acetrader
{quote} Hi Fml, Wanted to add a bit to what you stated. I have taken a hard look at the complaints against Oanda & it does appear a large amount of the complaints stem from traders losing their funds simply because they lack trading skills. Then we have to look deeper & realize Oanda is a Market Marker no matter that the website will say there is NO Dealing Desk. I'm not really so sure of that. From what I've seen on their demo Oanda has the best looking & easiest to navigate trading platform I've ever used since the days of FXCM. I am considering...

yes, traderīs skills.
I had an OANDA account for 15 years (really), the only advantage they offer is the 1unit trade, no lots.
Otherwise, they are extremely expensive: spreads almost double Ic Markets. And swaps, overnight and weekend are outrageous. Iīve seen EURGBP weekend spread jump to 15 pips, meaning, tons of traders trading M240, M60, etc. will most likely be wiped out at the Sunday night opening. Oanda is simply bad business...like renting a shop for more than the revenue you will make. I quit OANDA a year ago..never coming back.
  • #6,700
  • Mar 19, 2022 5:37pm Mar 19, 2022 5:37pm
Quoting cuchuflito
{quote} yes, traderīs skills. I had an OANDA account for 15 years (really), the only advantage they offer is the 1unit trade, no lots. Otherwise, they are extremely expensive: spreads almost double Ic Markets. And swaps, overnight and weekend are outrageous. Iīve seen EURGBP weekend spread jump to 15 pips, meaning, tons of traders trading M240, M60, etc. will most likely be wiped out at the Sunday night opening. Oanda is simply bad business...like renting a shop for more than the revenue you will make. I quit OANDA a year ago..never coming back....
Hi Cuchufito,
I feel your pain my friend. I was with FXCM from the incubation stage when the founders were answering the phone. The Good Ole days of FXCM.
I came from the SOS NASDAQ trading days to Forex. SOS Bandits trading was a brutal trading environment, but a money maker if you knew what to do. A three min peep break cost me $7500.00 one time. I lasted a year. That market was heavily regulated though. That loss was my fault. Forex is a wild west show unless you are a big player. Even if you know how to trade the deck is stacked against you as the broker can run a game on you behind the scenes. I have resolved that issue by switching to the Futures Market. Now trading DOW, Nasdaq, Euro FX & the Russell. Its a total different animal, but heavy regulated. Is it perfect? NO. But I sleep much better at night. I think I have shared enough. Check out the Futures my friend. You where with the Oanda for a long time & you left. That tells me all I need to know. Thank you for sharing MY Trading Brother. Let me know how you do in the future. Best of trades to you. A Tip Of The Traders Hat To You.
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