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  • #521
  • Nov 30, 2008 3:00am Nov 30, 2008 3:00am
Quoting Xaron
Not true. A wrong spike was reverted. Would you complain if this trade had been reverted if you had stopped out there?
But there aren't any spike. Do you see any spike at 17:02? Becasue Oanda saw I'am not.

Also this was my covered position. One was in a "-" and one on a "+".
Oanda cancel one of then - with the profit of course (but it doesn't meather becasue I don't want co cancel any trade - if there are spike they can change price but they don't want. Espesialy as trade are open and close after 1 hour. And they calcel it after that (because entry point had pike - they sey)).
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  • #522
  • Nov 30, 2008 10:22am Nov 30, 2008 10:22am
I have live accounts with 4 brokers, each for a different purpose. None are the answer to everything.

Oanda's platform started getting pretty sketchy over the past few months, to the point of being downright annoying and almost unpractical to use.

I took Lou's suggestion and use the direct feed now and things have improved considerably. It only takes a few seconds to download the Desktop button. It won't resolve all complaints, but at least it made the platform useable again.
  • #523
  • Dec 1, 2008 2:40am Dec 1, 2008 2:40am
Quoting macfan
The old "I have a friend" ploy. Oanda rep?
Oanda rep, go read all my posts, you really think I'm a oanda rep, I have account with oanda as well, I get a few problems, nothing to bad tho, I suppose xaron is a oanda rep as well, if you don't like oanda don't use them, there is plenty of people who use and like them, I know a few reputable traders from the j16 group who use and like them, I suppose they are oanda reps as well. Oanda is one of the best bucket shops out there, that's the bottom line.
  • #524
  • Dec 1, 2008 11:36pm Dec 1, 2008 11:36pm
Onada is Far from perfect, though truly NOT a Bucket Shop....If you think them to be fraudulent, in any way, why use them???



From Wikipedia, the free encyclopedia

Bucket shop refers to a particular type of fraudulent business:

  1. Bucket shop (heraldry)
  2. Bucket shop (stock market)

The term is used as a pejorative colloquialism to refer to different kinds of businesses, indicating that the speaker believes it is a fraud or scam. In this sense it might be used as a name for stock market, unregulated credit default swaps, airline ticket consolidators, or for heraldry scams.

Proper Prior Planning Prevents Piss Poor Performance
  • #525
  • Dec 2, 2008 12:29am Dec 2, 2008 12:29am
Quoting macfan
If anyone wishes to trade on a serious schedule then they must have at the bare minimum, two platforms.
I agree. I have been happily using Oanda for more than 2 years and will continue to do so. Oanda has its strengths and its weaknesses can be overcame through the use of a suitable second and/or more broker(s).
  • #526
  • Dec 2, 2008 12:54am Dec 2, 2008 12:54am
Oanda reply:

1.

Dear [xxxxxxxxxxx xxxxxxxxxxxx],

I assure you that we do not alter our client's accounts unless it is absolutely necessary. That is, when invalid trades occur on non-market rates (spikes). To give you a little background, we get our currency rates from a number of partner banks. However,occasionally, the banks may send us a rate that is not dealable. Of course they don't mark it as invalid, it comes across just like all the other rate data. It is up to us to detect and remove invalid rates. Since time is of the essence in trading, as soon as we receive rates from the banks, we try to get it to our customers on our platform. This low latency is something I am sure you appreciate. As such, when we are filtering all the bank rates trying to detect and remove invalid rates (spikes), we cannot be 100% certain that all the invalid rates have been removed since we do not have a lot of time to examine each rate t ick. This is why from time to time, spikes do occur. When a spike occurs, we do our best to correct the erroneous trades as soon as possible. However since the forex market is never truly closed, there sometimes is a delay between when a spike is detected and when an engineer can examine it and fix all the trades affected by that spike. These trade corrections are done regardless of whether the spike caused you to gain or lose money. Since the rates from those transactions are invalid, the only fair way is to remove those trades entirely. Thank you for your patience and understanding.


2.
Unfortunately the price you traded on was an invalid price. The action taken by our system in these cases is to reverse the trade and notify the user as soon as possible so that a new trade may be initiated if desired. From a technical perspective the system is working as designed. If you still feel that the issue requires attention, please let us know and we'll route your request to a Customer Service Agent.
  • #527
  • Dec 2, 2008 4:13am Dec 2, 2008 4:13am
Quoting orange
I agree. I have been happily using Oanda for more than 2 years and will continue to do so. Oanda has its strengths and its weaknesses can be overcame through the use of a suitable second and/or more broker(s).
35 canned posts......defending Oanda here

Tipical "Oanandian" it could very well be mister spin Dr Stumm himself !!

Since this is not Oanda's forum and they can't use their "Cuban" tactics and erase our posts, they show up talking BS !!!!
For he that would be deceived, let him.
  • #528
  • Dec 2, 2008 2:40pm Dec 2, 2008 2:40pm
I haven't really had any problems with Oanda yet. Sometimes their platform crashes, but that's usually due to a program conflict on my system.

I think a lot of people have problems because they are trading very small time frames...many of the screen shots are of 5 min or so.

I trade 4 hour charts on mt4 and place my trades through oanda and have not had a problem.

Also, if a problem does occur, their internet chat support helps out...although a bit more short and curtly than I would like but they are there.
  • #529
  • Dec 3, 2008 2:15am Dec 3, 2008 2:15am
Quoting pinchapip
Since this is not Oanda's forum and they can't use their "Cuban" tactics and erase our posts, they show up talking BS !!!!
They don't delete any postings at the Oanda's forums only spam. You will find some complaining threads in the Oanda's forums as well - even I complain from time to time there.
  • #530
  • Dec 3, 2008 3:03pm Dec 3, 2008 3:03pm
Quoting Xaron
They don't delete any postings at the Oanda's forums only spam. You will find some complaining threads in the Oanda's forums as well - even I complain from time to time there.
They DO delete posts which are not spam.

The complaining threads you found are not the critical one.
  • #531
  • Dec 3, 2008 3:07pm Dec 3, 2008 3:07pm
Hi Folks:
Just wanted to report on Oanda. Been trading live for a few months, everything was ok, then I found out they don't use candlesticks to activate trades, they use the Min/Max candle. You can find this out only if you look at the fine print about their candles. It's my fault for not checking this out, but who in their right minds runs a brokerage where the candlesticks are not the actual highs and lows. I got out with my profit intact, I would have even stayed if I had gotten some kind of decent reply form cust. service but they were terrible.

Plenty of other brokers out there, I've learned my lesson, it's an ECN only for me.

Jim
  • #532
  • Dec 3, 2008 3:10pm Dec 3, 2008 3:10pm
Quoting Xaron
They don't delete any postings at the Oanda's forums only spam. You will find some complaining threads in the Oanda's forums as well - even I complain from time to time there.
Unreal how some people can state things, without having a clue of what they are talking about

I see your posts over there Xaron...and other vanilla complaints also. Well no reason for them to delete things like that.

But just for your education Xaron, Mr Andres, the former moderator of the pro forum used to move and delete my posts all the time, till the point where it was not worth to post anymore.

Do you like to know why ?

Because somebody that used to work for them told me how they operate. And sure enough as soon as I started to post about things that they knew was true Mr Stumm in flesh and bone started to show up on my threads traing to prove me wrong.

Do some research before any "statement" Mr Xaron.

If you like them fine..... that's your right, but to come here and say that they do or don't do something without knowing what you are talking about I believe is just wrong.
For he that would be deceived, let him.
  • #533
  • Dec 3, 2008 3:54pm Dec 3, 2008 3:54pm
Quoting bigjim1958
Hi Folks:...
Even an ECN requires an user to RTFM before he starts to push the buttons..

Besides, Oanda doesn't use any charts to activate orders, they only use bid/ask quotes, just like any ecn broker does too.

"who in their right minds runs a brokerage where the candlesticks are not the actual highs and lows"

All of them, if they use bid-price based charts like most brokers, your sell orders are all inside the candle, buy orders can be outside.
  • #534
  • Dec 3, 2008 8:24pm Dec 3, 2008 8:24pm
Quoting pinchapip
Unreal how some people can state things, without having a clue of what they are talking about

I see your posts over there Xaron...and other vanilla complaints also. Well no reason for them to delete things like that.

But just for your education Xaron, Mr Andres, the former moderator of the pro forum used to move and delete my posts all the time, till the point where it was not worth to post anymore.

Do you like to know why ?

Because somebody that used to work for them told me how they operate. And sure enough as soon as I started to...
Could you please tell us how they really operate?
"Even the word impossible says that I M possible"
  • #535
  • Dec 4, 2008 2:34am Dec 4, 2008 2:34am
Quoting bigjim1958
then I found out they don't use candlesticks to activate trades, they use the Min/Max candle.
Yes of course they do. If you display candle charts you have only the following choices:
1. Use the bid
2. Use the ask
3. Use the middle

All MT4 shops use the bid, Oanda uses the middle...

@pinchapip: I'd be interested "how they operate" as well. So where could I "research"? So could you enlighten me with your "insider knowledge" please?

My current version how they operate is the following:

They collect all incoming orders from clients in a pool and only hedge the net outcome in the interbank market. The nice thing about this for Oanda: They can collect multiple spreads from clients without even pay spreads in the interbank market because clients positions might hedge out each other.
  • #536
  • Dec 4, 2008 2:41am Dec 4, 2008 2:41am
Quoting Xaron

They collect all incoming orders from clients in a pool and only hedge the net outcome in the interbank market. The nice thing about this for Oanda: They can collect multiple spreads from clients without even pay spreads in the interbank market because clients positions might hedge out each other.
exactly... I would like to be a broker also..... heh...
  • #537
  • Dec 4, 2008 4:56am Dec 4, 2008 4:56am
Quoting Xaron

@pinchapip: I'd be interested "how they operate" as well. So where could I "research"? So could you enlighten me with your "insider knowledge" please?

My current version how they operate is the following:

They collect all incoming orders from clients in a pool and only hedge the net outcome in the interbank market. The nice thing about this for Oanda: They can collect multiple spreads from clients without even pay spreads in the interbank market because clients positions might hedge out each other.
I'm working on a article about how brokers operate Xaron, as soon as I finish writing it, I will post. I think is my responsability to advise newbies about brokers tatics but the more experienced traders will benefit from it also.
For he that would be deceived, let him.
  • #538
  • Dec 4, 2008 5:54am Dec 4, 2008 5:54am
Thanks pinchapip! Looking forward to it.
  • #539
  • Dec 4, 2008 8:32pm Dec 4, 2008 8:32pm
Quoting Tig3r
Oanda reply:

I assure you that we do not alter our client's accounts unless it is absolutely necessary.
The only first sentence in that would’ve gotten my ass out of that broker immediately. Is it just me or everybody here thinks they should not modify the accounts at all? I insist, get another broker.
  • #540
  • Dec 4, 2008 8:42pm Dec 4, 2008 8:42pm
That's how you come to see how some brokers manipulate an account, I've heard about some of them manipulating the feed when you get it on the same platform. But I guess you should check regulation, and verify execution on your accounts.
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