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  • #3,881
  • Oct 12, 2014 5:41pm Oct 12, 2014 5:41pm
Hello everybody.
I have just joined FF, but been trading fx for slightly over 2 years now. IMHO, Oanda is not bad. They pay you your money back without any question, which is not always the case elsewhere. Their customer service has significantly improved compared to how it was, say, over a year ago. Cost of trading is on pair with other brokers, although their spreads and swaps used to be better. They used to pay interest on the acccount's balance, too, unfortunately this is no longer the case. I have heard and read stories of gigantic price spikes, with spread widening dramatically during news releases (which is normal), and when there was no events (which is not), but it has never affected me much, as I trade long term. Overall, they are certainly not the worst kid on the block.
  • #3,882
  • Oct 16, 2014 5:45pm Oct 16, 2014 5:45pm
Quoting JibalaPasan
{quote} Well stated, nothing to add. Jibala
Well, shit, I was thinking of moving over to Oanda from FXCM. FXCM has recently had some issues which have created problems accessing the platform and/or with execution, once during the Scottish election (no fucking excuse for that; boost your server capacity during those events that are going to be heavy load and/or make sure your connectivity is good and redundant if necessary) and then another time a few days ago when USD was tanking ... . I basically don't give a rat's ass what the problem is; just fix it is my position.

I was frankly fine with FXCM's spread/fee structure, which was just straight spread + swap. Now it's a narrower spread, but a commission they collect when you enter the trade + swap. In most cases, I think it is an improvement, especially if you're a small pipper, but if I have to take screen shots of everything or pour over mounds of reports to see if shit didn't execute when it was supposed to and things of that nature and then file dispute resolution reports and all that kind of thing, well, let me say that I'm not going to be happy. I have a day job and limited time to be monkeying around with crap that shouldn't be occurring as a general matter. So, my confidence in FXCM is diminished somewhat; I was fairly happy up to this point ... .

But if Oanda's having the exact same kind of issues, there's no point in moving from one cluster fuck to another. I thought I'd researched all these brokers back some time ago; if anyone's got any suggestions, that would be helpful -- ETradeFx? CitiFx? I dunno ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #3,883
  • Nov 21, 2014 6:53am Nov 21, 2014 6:53am
This week I'm giving oanda the middle finger!!

I'm so glad this day finally came!! Since 2007 I trade with this bucket shop, but now I finished my transition to more decent brokers.

Oanda is late on everything....I can't count how many times their "agents" disguised as regular posters mocked me on their forum for asking for changes on their platform.

The same changes they praise themselves today.

Oanda is late again not embracing the changes. Due to their laziness (and greed) they are still in the old model of screwing up their customers, while smarter brokers are embracing the philosophy of working together with their clients, so they can grow together.


I still have a few bucks left on my account just so I can call their technical support and make they spend some money on me !!

I strongly believe I will see the day oanda goes broke.

So....bye bye oanda!! Thanks for nothing !!
So, you think you have rights? LOL
  • #3,884
  • Nov 21, 2014 7:24am Nov 21, 2014 7:24am
Quoting ForexOracle
This week I'm giving oanda the middle finger!! I'm so glad this day finally came!! Since 2007 I trade with this bucket shop, but now I finished my transition to more decent brokers. Oanda is late on everything....I can't count how many times their "agents" disguised as regular posters mocked me on their forum for asking for changes on their platform. The same changes they praise themselves today. Oanda is late again not embracing the changes. Due to their laziness (and greed) they are still in the old model of screwing up their customers, while...
Hi, could you explain more specific about your problems with Oanda, English is not my native language. I have read it several times but still don't understand. You mean you told Oanda to change their fxtrade platform but they didn't? And what "late" do you mean?
  • #3,885
  • Nov 21, 2014 8:36am Nov 21, 2014 8:36am
Quoting Abcxyz77
{quote} Hi, could you explain more specific about your problems with Oanda, English is not my native language. I have read it several times but still don't understand. You mean you told Oanda to change their fxtrade platform but they didn't? And what "late" do you mean?
Among other problems oanda is probably the laziest (or sloppiest ) broker out there.

For example back in 2007 I was in their forum asking them to put alerts on their platform. Their employees disguised as regular posters mocked me saying that traders don't need alerts etc.

Pure bull crap they used to justify their laziness. I asked for more time frames, mobile platform, for them to get rid of stupid disconnections etc.

I'm just glad I'm not trading with them anymore.

I'm just waiting to see the day they will file for bankruptcy !!
So, you think you have rights? LOL
  • #3,886
  • Nov 21, 2014 8:45am Nov 21, 2014 8:45am
Quoting ForexOracle
{quote} Among other problems oanda is probably the laziest (or sloppiest ) broker out there. For example back in 2007 I was in their forum asking them to put alerts on their platform. Their employees disguised as regular posters mocked me saying that traders don't need alerts etc. Pure bull crap they used to justify their laziness. I asked for more time frames, mobile platform, for them to get rid of stupid disconnections etc. I'm just glad I'm not trading with them anymore. I'm just waiting to see the day they will file for bankruptcy !!
There are a lot of fraud brokers, so which brokers do you trade with? Could you recommend some names for me, i think bank-related brokers are good?
  • #3,887
  • Nov 21, 2014 8:56am Nov 21, 2014 8:56am
Quoting Abcxyz77
{quote} There are a lot of fraud brokers, so which brokers do you trade with? Could you recommend some names for me, i think bank-related brokers are good?
I don't think it is fair to recommend a broker, because based in your trading stile one broker can be better than other .

So far, on my trading journey I got to the conclusion that brokers charging commission seem to be better.

At the end of the day they are all scumbags, but the ones charging pip only seem to be the worsts.
So, you think you have rights? LOL
  • #3,888
  • Nov 21, 2014 9:16am Nov 21, 2014 9:16am
Ive been with Oanda for years, but I don't need all the fancy widgets other outfits offer and they are pretty slow implementing any changes to their platform but again Im happy with it and don't like change. Ive tried other platforms but as said I don't need the widgets and gizmos,,, take me months to figure out how to use them anyways.

I am totally comfortable with them holding my coin and any issues I have had have been resolved in what I think were very fair and done professionally (not one sided, slanted to them). Yes they are just like every other MM when it comes to slippage, the spreads go nuts at times, and they get feed errors from time to time but overall Im happy. Its personal choice go/stay where your happy and you get treated reasonably.
  • #3,889
  • Nov 21, 2014 9:40am Nov 21, 2014 9:40am
Sounds like "user error" to me, man. Hee hee. Just teasing. There is nothing wrong with Oanda IMHO. Simple solid platform that even works on my Macs. Never had a problem with deposits and withdrawals, and the customer service was quite expedient and thorough in returning emails and addressing concerns. The one time I had a stop taken out by a weird price quote several years ago, I showed the screen shot to Oanda tech and they refunded my money that day. Having traded stocks, futures, options, and forex with a variety of brokers, one of which was a 'for real" bucket shop that was shut down by the CFTC, I think Oanda is easily one of the best but not perfect. If you want byzantine bells and whistles, then go to TD Ameritrade. I appreciate their platform's multitude of permutations when it comes to strategies, but all I need is simplicity. Good luck.
There's always money in the banana stand.
  • #3,890
  • Nov 21, 2014 10:12am Nov 21, 2014 10:12am
There we go, typical oanda damage control in in progress!!

Anyways...if you like it, you can have it ...its yours.

Flipped the bird to oanda they can go bankrupt now!! My money is elsewhere.
So, you think you have rights? LOL
  • #3,891
  • Nov 21, 2014 12:59pm Nov 21, 2014 12:59pm
Quoting xy76
Hello everybody. I have just joined FF, but been trading fx for slightly over 2 years now. IMHO, Oanda is not bad. They pay you your money back without any question, which is not always the case elsewhere. Their customer service has significantly improved compared to how it was, say, over a year ago. Cost of trading is on pair with other brokers, although their spreads and swaps used to be better. They used to pay interest on the acccount's balance, too, unfortunately this is no longer the case. I have heard and read stories of gigantic price spikes,...
Jesus, you have been with O 1 month, must be an employee!!
  • #3,892
  • Nov 21, 2014 2:55pm Nov 21, 2014 2:55pm
A few months back I was pretty pissed off with Oanda and opened demo accts with 3 other brokers. End result ? They all were about the same. Very little choices for those of us in the US.
  • #3,893
  • Nov 21, 2014 3:26pm Nov 21, 2014 3:26pm
Quoting ForexOracle
There we go, typical oanda damage control in in progress!! Anyways...if you like it, you can have it ...its yours. Flipped the bird to oanda they can go bankrupt now!! My money is elsewhere.
I'm sure another broker would be quite happy to have you hang your tinfoil hat in their establishment.
There's always money in the banana stand.
  • #3,894
  • Nov 21, 2014 3:39pm Nov 21, 2014 3:39pm
Quoting LizardGizzard
{quote} I'm sure another broker would be quite happy to have you hang your tinfoil hat in their establishment.
You can have it pal...it is all yours!!
So, you think you have rights? LOL
  • #3,895
  • Nov 22, 2014 5:41pm Nov 22, 2014 5:41pm
Quoting LizardGizzard
Sounds like "user error" to me, man. Hee hee. Just teasing. There is nothing wrong with Oanda IMHO. Simple solid platform that even works on my Macs. Never had a problem with deposits and withdrawals, and the customer service was quite expedient and thorough in returning emails and addressing concerns. The one time I had a stop taken out by a weird price quote several years ago, I showed the screen shot to Oanda tech and they refunded my money that day. Having traded stocks, futures, options, and forex with a variety of brokers, one of which...
My only problem with Oanda is they don't have NY close candles. Have you found this to be a problem?
  • #3,896
  • Nov 22, 2014 8:09pm Nov 22, 2014 8:09pm
Can that not be user set?

Quoting benaiah
{quote} My only problem with Oanda is they don't have NY close candles. Have you found this to be a problem?
There's always money in the banana stand.
  • #3,897
  • Nov 22, 2014 8:18pm Nov 22, 2014 8:18pm
Quoting LizardGizzard
Can that not be user set? {quote}
Then I assume you haven't had an issue trading on their different candle times?

My question was just out of curiosity since I use another broker to keep an eye on NY close candles.

For time frames H1 and under there's not much difference. But for H4 and above they can show quite a different picture...
  • #3,898
  • Nov 22, 2014 8:27pm Nov 22, 2014 8:27pm
Gotcha. Nope. Hasn't been a problem yet. But I suppose I see how it could be for some systems.
There's always money in the banana stand.
  • #3,899
  • Nov 23, 2014 11:30am Nov 23, 2014 11:30am
Quoting benaiah
{quote} My only problem with Oanda is they don't have NY close candles. Have you found this to be a problem?
Just for the record, they DO HAVE the option of making your candles closing at NY 5 PM.

Which does not change in anyway the fact they are the sleaziest and laziest broker in the world!!

Note how sleazy and lazy sounds like lizard !!
So, you think you have rights? LOL
  • #3,900
  • Nov 23, 2014 12:48pm Nov 23, 2014 12:48pm
Quoting ForexOracle
{quote} Just for the record, they DO HAVE the option of making your candles closing at NY 5 PM. Which does not change in anyway the fact they are the sleaziest and laziest broker in the world!! Note how sleazy and lazy sounds like lizard !!
Give it a break. He does not sound like an "agent" defending his company. Just stating his opinion like you did. If you traded with such a horrible broker for 7 years, your complaints don't have much credibility.
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