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  • #1,381
  • Dec 22, 2010 6:18am Dec 22, 2010 6:18am
Quoting Razor_trader
There are other avenues to get out of trades other than logging into the platform and closing. Usually a quick call to the broker, answer some ID questions and asking them kindly to close at market is sufficient and I am sure that would not take you 2 hours to complete.
I thought Oanda does not provide tel. service.
I read that many times on different thread?!!

True, platform is unstable. Worst platform I have seen so far (and I saw a lot).
I only hope that my daily/weekly trading is OK with such poor quality tech.
Of course trading intraday with it I think is close to Gamble... imho
  • #1,382
  • Dec 22, 2010 7:25am Dec 22, 2010 7:25am
Quoting Razor_trader
There are other avenues to get out of trades other than logging into the platform and closing. Usually a quick call to the broker, answer some ID questions and asking them kindly to close at market is sufficient and I am sure that would not take you 2 hours to complete.

I did resort to using the Chat function after my futile attempts to get the platform to load via the Desktop as well as thru the FXtrade website. The customer service agent told me s/he could not close my trade for me; my only option was to log on to my account.

I just grew tired, I guess, from having to deal more and more frequently, it seems to me, with Oanda's platform problems (disconnections, lagging quotes, among other issues).

But then, maybe it's just me?
Amor Fati--F. Nietzsche
  • #1,383
  • Dec 22, 2010 7:37am Dec 22, 2010 7:37am
Quoting Adilius07
I thought Oanda does not provide tel. service.
I read that many times on different thread?!!

True, platform is unstable. Worst platform I have seen so far (and I saw a lot).
I only hope that my daily/weekly trading is OK with such poor quality tech.
Of course trading intraday with it I think is close to Gamble... imho
In the event of a platform crush, they´ll have to.

Os.
Trade Smart
  • #1,384
  • Dec 22, 2010 8:25am Dec 22, 2010 8:25am
Quoting Osman
In the event of a platform crush, they´ll have to.

Os.
Actually - NO they don't close your trades via phone or chat request - regardless of circumstance. Ran into this a few years ago and the policy hasn't changed. Long term is not an issue, as eventually the platform stabilizes and lets u back in. High leverage short term trades - those are the ones you may experience frustrations with. This is 'Disaster stop' territory.
In trading, there is no bullshit. You either make money or you don't.
  • #1,385
  • Dec 22, 2010 9:01am Dec 22, 2010 9:01am
Quoting doji
I did resort to using the Chat function after my futile attempts to get the platform to load via the Desktop as well as thru the FXtrade website. The customer service agent told me s/he could not close my trade for me; my only option was to log on to my account.

I just grew tired, I guess, from having to deal more and more frequently, it seems to me, with Oanda's platform problems (disconnections, lagging quotes, among other issues).

But then, maybe it's just me?
WOW from the responses this was no something I was aware of. Every broker should have a mandatory service line that allows for these kinds of things. For hell, what if you where on vacation with a laptop but wanted to check quotes and manage positions. This is like a major bank not having the means to transfer funds over the phone. Oanda still in the stone age on this one then.

Sorry, I didnt mean to infer anything to those who knew. I have traded with Oanda for over 18 months and never had a problem with disconnect etc however now that I am aware that they dont offer a phone service I too will be on the lookout.

Seriously I thought it was mandatory for brokers and providers to have a phone access option.Wow again

RT
  • #1,386
  • Dec 23, 2010 9:10pm Dec 23, 2010 9:10pm
Quoting doji
I did resort to using the Chat function after my futile attempts to get the platform to load via the Desktop as well as thru the FXtrade website. The customer service agent told me s/he could not close my trade for me; my only option was to log on to my account.

I just grew tired, I guess, from having to deal more and more frequently, it seems to me, with Oanda's platform problems (disconnections, lagging quotes, among other issues).

But then, maybe it's just me?
Quoting mrgreen
Actually - NO they don't close your trades via phone or chat request - regardless of circumstance. Ran into this a few years ago and the policy hasn't changed. Long term is not an issue, as eventually the platform stabilizes and lets u back in. High leverage short term trades - those are the ones you may experience frustrations with. This is 'Disaster stop' territory.
I can confirm from a friend that uses oanda that he had to get 2 supervisors on the line to close positions one time and it took maybe 20-30 minutes or longer. As a general rule, you are stuck when it comes to servicing your trades outside the platform. Maybe they will change this if someone goes after them via the CFTC for a loss that could have been prevented had they acted on information timely. Now that forex is regulated in the USA, this is unexcusable. What bothers me the most about this "policy" of no manual intervention is that they have the capacity to do it, and just choose not to. Is there a logical explanation for this? There should be at least one NON-platform channel in which clients can close trades in an emergency.

If you have the awareness that a broker is not what you want them to be, we have a choice. We can choose another broker that is a better fit. From my point of view, I don't know why anyone would volunteeringly choose a broker that does NOT have alternate contact channels if their platform goes down for servicing (at least closing) existing open positions in the market.
Measure trends automatically with zero lag
  • #1,387
  • Edited 10:05pm Dec 23, 2010 9:52pm | Edited 10:05pm
They'll most likely provide it if you guys ask. They probably don't think it's that important since almost no one has been expressing a need for it until now.

If your disconnection issues are so bad that you feel you may need a second channel for managing open positions other than the platform, then simply email them or start a thread in their forum. Tell them you'll consider switching to another bröker if they don't provide it.

Alternatively (and if this isn't already the case?), they should consider setting things up in such a way that the pending orders of their traders would be automatically held in their servers instead of merely at the platform level. That way, if you experience a disconnection while having an open trade, you can rest assured that your TP and SL orders are still applicable and would be executed if hit (whilst if you're trading without such orders, you'd be doing so at your own risk).
  • #1,388
  • Dec 27, 2010 12:01pm Dec 27, 2010 12:01pm
I hear Oanda are currently working on a metatrader 5 implementation, not sure if this is true.
  • #1,389
  • Dec 27, 2010 2:07pm Dec 27, 2010 2:07pm
Reading these notes above... about exiting orders in times of "crisis"...
I guess all that I can offer is use Stop-Losses. Every and any broker I have used has system problems at some time or another. I've traded stocks, futures, and forex.

As for quick deposits and withdrawals, I wanted to compliment them.
The last time I withdrew money, it was in my bank account the next day.
(I use bank wires) I consider that quite fast, compared to some ACH bank account set-ups on my futures broker that can take 3 days or so.

I wired a deposit to them this morning, I was at the bank at approx. 11:30am. I found an e-mail a few moments ago, that my account has been credited at Oanda and is ready to trade the new balance.

Only two and a half to three hours, on a Monday, post Holiday week-end... I say great job Oanda!

As for execution... I doubt anyone on MetaTrader with other retail brokers can be in/out within 6 seconds with closed profit. Oanda is that fast.
I have many sub 10 second trades ... +80% profitable.

Darkstar's old posts in 2007 where he compared Oanda's quotes to Currenex quotes showed that they were virtually identical. That is very convincing... and that was 3 years ago.
  • #1,390
  • Dec 27, 2010 2:53pm Dec 27, 2010 2:53pm
Wow, I had a hard time believing the comments regarding not being able to place phone orders (not too big of deal for me), but it is true and even in Oanda's FAQ:


Quote
Can I make a trade over the phone?

Answer

As a 100% automated platform, FXTrade does not offer a phone trading option. The trading platform does, however, allow users to place stop-loss, take-profit and upper and lower bound limits to facilitate trades. These orders will automatically be honored/executed regardless of system failures or the customer's inability to gain access to the system
.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,391
  • Dec 27, 2010 5:13pm Dec 27, 2010 5:13pm
Quote
The trading platform does, however, allow users to place stop-loss, take-profit and upper and lower bound limits to facilitate trades. These orders will automatically be honored/executed regardless of system failures or the customer's inability to gain access to the system

Well there is nothing to bitch about then, just use TP/SL orders.
  • #1,392
  • Dec 28, 2010 4:01am Dec 28, 2010 4:01am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
I have been having a lot of issues with Dealbook web as of late, charts keep freezing up.

When I go to check on the browser, the price sometimes is completely different from the chart.

I use web because I am on a Mac, and I have no plans of running Windows to use MT4.

I'm a US citizen, I plan to use Dukascopy in the future for the higher leverage, but for now I am seeking a solid US based broker, is Oanda recommended?
  • #1,393
  • Dec 28, 2010 7:54pm Dec 28, 2010 7:54pm
Quoting apt
I have been having a lot of issues with Dealbook web as of late, charts keep freezing up.

When I go to check on the browser, the price sometimes is completely different from the chart.

I use web because I am on a Mac, and I have no plans of running Windows to use MT4.

I'm a US citizen, I plan to use Dukascopy in the future for the higher leverage, but for now I am seeking a solid US based broker, is Oanda recommended?
Apart from the "not being able to do things over the phone" they are pretty damn good. Spreads are some of the better spreads you will find, very small minimum deposits and sound leverage of 50:1. Deposits and withdrawals are easy and you have the benefit of trading each unit (as opposed to fix lot sizes of 1k, 10k or 100k),

Charting is a bit dull compared to others but hell if all your looking for are fancy charting packages then.....
  • #1,394
  • Dec 29, 2010 12:39am Dec 29, 2010 12:39am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting Razor_trader
Apart from the "not being able to do things over the phone" they are pretty damn good. Spreads are some of the better spreads you will find, very small minimum deposits and sound leverage of 50:1. Deposits and withdrawals are easy and you have the benefit of trading each unit (as opposed to fix lot sizes of 1k, 10k or 100k),

Charting is a bit dull compared to others but hell if all your looking for are fancy charting packages then.....
I'm not actually, I use simple Price Action and Fibs.

I've been demoing with them for a day or two, really excited with their platform in comparison with Dealbook Web.

I like it even better than JForex ( Dukascopy ).
  • #1,395
  • Dec 29, 2010 12:47am Dec 29, 2010 12:47am
Quoting apt
I'm not actually, I use simple Price Action and Fibs.

I've been demoing with them for a day or two, really excited with their platform in comparison with Dealbook Web.

I like it even better than JForex ( Dukascopy ).
Yep, as a long oanda user, and hearing a lot of people complain about oandas plattform, I started checking other brokers plattforms out, and have to say that most are even crappier, and some are just different, but none is really convincing.

Shows me once more what a "wild west" forex really is.
this pig cannot be slaughtered for ever... or can it?
  • #1,396
  • Dec 29, 2010 1:50am Dec 29, 2010 1:50am
Quoting georgem
I started checking other brokers plattforms out, and have to say that most are even crappier
Agreed. I'd take a simple and solid Java platform over any ea/indicator-oriented platform with millions of distracting TA features.
  • #1,397
  • Dec 29, 2010 1:59am Dec 29, 2010 1:59am
Quoting Marv
Agreed. I'd take a simple and solid Java platform over any ea/indicator-oriented platform with millions of distracting TA features.
Which one is "solid" ?
  • #1,398
  • Dec 29, 2010 4:14am Dec 29, 2010 4:14am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting Adilius07
Which one is "solid" ?
Oanda's.
  • #1,399
  • Dec 29, 2010 4:15am Dec 29, 2010 4:15am
Quoting apt
Oanda's.
haha man that's the good one
  • #1,400
  • Dec 29, 2010 5:03am Dec 29, 2010 5:03am
Quoting Adilius07
haha man that's the good one
Why?

(connectivity and the platform are two different things btw)
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