|I have an account with Oanda Australia for about 10 mos. now.|
I also used to have an account with Oanda Singapore for almost two years. Their service have deteriorated for the worst.
-easy to open an account especially if you submitted all required
-you can trade minilots and with only a small amount of capital
-easy withdrawals and deposits
-If you email them regarding any issues they will answer promptly
Connectivity- Issues with connectivity is a headache and a nightmare. You simply cannot trade during news events and even during non news event. If there is large price fluctuation expect to be disconnected from their platform. You can be disconnected numerous times in a day and sometimes for more than 4 hours at a time. Yes this happened for more than a week now. It used to be that they will disconnect you only during news events that will last only for several minutes to an hour. Not anymore! If you are a scalper, forget it. You will not be able to access the fxtrade desktop and web platform. Even then, if you are lucky to be connected to the platform, the charts will not be displaying. Troubleshooting and updating your java, browser, rebooting, etc., will not solve the issue. Even contacting your internet provider will not help because it is in their end. You just have to wait until it came back which is several hours later with your account already close if you are unlucky.
Quotes- Beware, there is a large variation between oanda’s quote and current market. Always compare oanda’s quotes with other broker or charting websites. This is especially true with energy instruments and one index that I follow. Quote variation can be 60-100 pips sometimes or more. This is very apparent for NGAS, oanda is showing a max price of 2.25 for daily while in one broker and other charting website it is around 3.5-3.7 for the Oct 27-29 quotes. They have almost similar price with others for the previous days except from Oct 26- to current date, so this cannot be due to news event. As of now ngas price in oanda is trading at 2.12 while in others are 2.25. Hmmm? Why? I asked them for clarification and they give me an explanation about interest and finance charges and other computations that did not really answered my questions. They cannot explain how they have substantial downward price swing while others are showing substantial upward price swing. When WTI rebounded Ngas usually follows. I’m still waiting again for their reply. For currency pairs there is not much difference in quotes from what I have noticed. Always have screenshots for proof.
Customer Service- A pop-up message in Live help will display nonavailability because it is not business hours when in fact you are contacting them during business hours. It will entail several tries before that change from not available to an available agent.
Do not trade with this broker. Definitely not for scalpers. If you are always disconnected, how can you trade? And even if you are connected, how can you trade if you can't see any charts?
|SCAM||Oanda lacks integrity and will easily not be fair with its customers. I had a STOP placed and they canceled it. Instead of earning at least $7000, the position moved until I was at a loss by the time I got up in the morning. I complained through their FORUM and they blocked me from the FORUM. |
They refused to make any part of a refund.
Oanda is a SCAM
|I'm here to confirm that Oanda is scam|
I think it's the duty of every trader who was scammed to report his experience, so at least other people don't suffer and ultimately the authorities will have these thieves pay for their crimes and disappear from the face of earth.
|I have been with them for several months now using both demo and live accounts. After much training/reading and testing strategies, I am turning a profit and have had no problems with OANDA at all.|
If you are watching your take profit or stop loss lines during a quick trade, be sure to switch your chart from whatever it was (candle or otherwise) to the bid or ask prices (pending if short or long) as that will show you more accurately when the market candle will hit your line and either tap you out or take a profit (which is think is the problem for some of the other users here).
The only issue I found is MT4 platform is sluggish, so I dont use it.
I find OANDA to be completely transparent on their operations, platform maintenance updates are clear to see when you login and they offer great tools (Guppy alerts & Autochartist).
I recommend them for beginners and experienced users anytime and they have great tutorials on their website (free).
|I TRY TWICE WITH THIS IDIOT BROKER 1ST TIME WITH THEM U.S BRANCH .. LATER ON TRY A NEW BRANCH THEY HAVE OPEN IN SINGAPORE ALSO THE SAME ! |
THEY WILL HUNT YOUR SL BY RAISING SLIPAGE !
VERY DISAPPOINTED WITH THEM!
AT LAST I MANAGE TO WITHDRAW ALL MY FUNDS !
NO MORE TRADING WITH THEM IN FUTURE !!!
|SCAM||The prices movements are very unfair, during idle time, AUD and US are slowing down, SPREAD in a sudden opened 35 pips wide and swallowed Stop Loss on both sides. I used 2 account sometimes traded opposite for safety. Other account stayed level but OANDA became very active and broke my relatively big Stop Loss.|
Stay away, they will cheat you 100% for sure.
|i am using oanda from 3.5 years and iam very comfortable with it. very good broker, their trading plat form is very light and much better execution time. some times the spread increase during market news and i stay away from it when the news release.|
but i wish they had chat channels to share opinions with other traders.
|I have traded with Oanda for over 5 years, I have never experienced any of these problems. The very few times that a server error did occurred resulting in a loss, they were prompt to correct the situation and refund the loss that resulted. I always get great fills, one of the few brokers I can say that about. Spreads are pretty decent. Platform has always been weak if you compare it to metatrader, but some aspects of its simplicity I do like. My favorite is being able to make trade adjustments right from the chart. I think there interest payment system is the best around. Deposits and withdraw has never been an issue, and never once have I ever felt that they were not on the up and up. About all these ridiculous scam ratings on here, I think that has already been well addressed by other people that do have a clue about forex. So I will just say in response to all the scam ratings, "Stupid is as stupid does".||Craig||10.12.17|
|SCAM||stay away from this basterd ! they can scam you in many way they want ! slippage , low signal in their platform , s/l not working (sometimes) , NFP (shut down) platform !!||andson||07.12.17|
|OK an correct long time||wladav||28.11.17|
|SCAM||The greatest scam project ever seen now a days. She is everywhere marketing, ranking pages, Internet complicit in illicit scam-followup delinquents. The The Godmother Hacker, r and now in forex; very funny!!!||Fernando||09.11.17|
|SCAM||"Hello, I have experienced frequent service interruptions trading with Oanda for the past year. Also, I have experienced several price spikes and tripped stop losses. After numerous incidents I decided to look on the BBB web site to see if any complaints have been filed. A couple complaints have been filed and here is the following conversation I had with a Customer Service Supervisor:|
￼Please wait for an agent to respond.
￼You are now chatting with 'OANDA'
OANDA: Thank you for choosing OANDA. How may I help you?
Evan: Hello, why isn't Oanda BBB accredited?
OANDA: Sorry, can you please clarify what BBB is?
Evan: Better Business Bureau
OANDA: Thank you. ------------- Frequent disconnections, price spikes, spread increases, dishonest and unhelpful customer service representatives. NOT accredited by the Better Business Bureau. Do yourself a favor and avoid like the plague."
|I have a demo of Oanda and they are not a scam. But they are a market making dealing desk. So trading with them you are subject to only buy at the ask and sell at their bid. If the market is liquid and moving then their bid/ask should be near the market. The problem comes when liquidity dries up (eg. weekends) and spreads become much higher. The other note is that one can never put in a ask lower than Oanda's and expect it to fill unless that ask equals their bid.|
If one wants to trade where they want to market make then they need to find an Forex ECN broker. This format charges a commission but allows one to market make.
The pros of Oanda is that one can trade any size in and out while the con is that you are locked into their bid/ask for buying and selling. If the market is moving with liquidity during the peak times one can still make money by getting the direction right (but it is possible that Oanda can hunt stops slightly above the actual market). And it is possible for them to bucket (trade against you without a hedge) your trade.
The main problem is getting a tested profitable trading plan and being able to administer it with the proper psychology. Because if the market moves 100 pips in your direction you will make money as long as they pay out.
Talking to a ECN broker they did say that Oanda is a clean regulated operation. But the real question is do you want to trade ECN brokers or dealing desk broker?
|SCAM||"i traded with these thugs for 3 years, they stole over half million chf from me, then i complained, they sut my account down to shut me up. i have made legal case against these crooks for manipulation and market abuse, they will pay eventually. --------------------- To all those oanda employees who keep making false declarations here, you need to know that it is illegal to make false reviews and especially if you work for oanda. You need to be a customer to comment dummies!!! Olsen is based in Zurich, what nerd, he is very keen to say he has nothing to do with the business and Stumm, Olsens childhood friend concocted this software to rob people. These crooks managed, with their bankster friends to move USD & GBP by over 120%, destroying Swiss business and causing economic chaos, it's High frequency and black box trading developed by Oanda and blatantly obvious. Now it's being publicised and sent to the media."||todd||21.08.17|
|SCAM||SCAM. Total SCAM. The worst stop-hunters out there, even when their charts never touched the price...time and time again SCAM ALERT||Fred||29.07.17|
|Chat InformationPlease wait for an agent to respond.|
Chat InformationYou are now chatting with 'Eileen'
Eileen: Thank you for choosing OANDA. How may I help you?
ace lu: ticket #921628339
ace lu: stoploss of 1.30955 should not be hit
Eileen: For your security, before I can continue I will have to ask you your security question.
Eileen: What is your mother's maiden name?
ace lu: the highest price was 1.3084 after last friday's closing
ace lu: yizhen
Eileen: Thank you.
ace lu: i've been monitoring fxcm and esignal and they both confirm my claim
Eileen: One moment please whille I retrieve your account information.
ace lu: even with oanda's wide spread during weekend it still should not have hit 1.30955
ace lu: with ticket 921127646 i changed stoploss from 1.30905 to 1.30955
ace lu: oanda's own hourly chart shown 1.30842 was the highest price
ace lu: i firmly believe esignal's price is the collection of all prices from the world and it shows 1.3084 was the highest
ace lu: [after noon of last friday pacific time]
Eileen: Thank you for waiting.
Eileen: I have taken a look at your stop loss.
ace lu: thanks
Eileen: I can see that your weekend data is hiden.
ace lu: my data feed is esignal. i use ensign windows for analysis
Eileen: Can you please allow your trading platform to show weekend data? You should be able to see that the High Ask price during the time that your stop loss was triggered was at 1.30969.
Eileen: OANDA is a market maker. We may not offer the same prices as the other brokers.
ace lu: i don't see any weekend price on esignal close to 1.30969. you mean oanda can hunt stops at will during weekend regardless esignal's (world prices collection) 'official' prices? then i would be speechless...
ace lu: i will definitly publish my story on every fx review sites as i can.
ace lu: thanks
Eileen: We do not hunt stops.
|SCAM||I've been trading for over 6 years, their MT4 implementation is utter garbage! 1-3min delays on order execution, completely unable to change TP/SL. Anemic java platform, $600/month for an API?!? Don't believe the sock puppets, this broker is cr*p.||mark0419||30.01.17|
|I was asked to try out their MT4 platform by my little brothers friend so I could tell him what I thought. I am a professional trader so I don't use any retail brokers, and boy, am I glad. In one week I experienced countless long delays in opening/closing/setting TP and SL. Sometimes it would take 30-60 seconds to open or close a position, other times it did not get the order through at all and I had to restart the MT4 client. The worst MT4 solution I've ever seen. Note : This is only concerning their MT4 platform, I didn't try their FXtrade(?) platform. On a positive note, their spreads seem rather tight for a retail broker. If you plan to use MT4, do yourself a favor and go somewhere else. Literally, anywhere else will probably be better.||Kipsy||13.01.17|
|SCAM||I trade Oanda till 2007, and I think they are scams.|
Spreads would increase to 20 or 30 pips upon news.
They would hunt your stop and make you lose, because they are taking the other side of the trade.
|Oanda is has a very platform but as soon as you make some consistent money they'll delayed the executions; I lost 50 almost 50 pips on just one trade because of the delay.||scalpter1||10.11.16|
|SCAM||I have close account with them know cost me to LOOSE $28000.00 in on week becous of bad platform shut down many time when my trade is going in my fever so every time i call what they say we can close your open trade no proft or lose with a loosing trade no platform shut down problim so i be dealing with CFTC LET SEE WHAT HAPEN.||KRISHNA R||02.11.16|
|I've been with Oanda for 2 years now. So far, no major problems. The spreads are widen sometimes during the news and the low liquidity periods. I wasn't surprised because this was pretty much standard for all brokers. I like the variable lot size they offer. It really fit my strategy well. The only reason I didn't give them 5 star was because they don't insure customer's deposit in the event if they go bankrupt or insolvent. Therefore I only trade small account (10K+) to practice my trading skills.||Patrick||18.10.16|
|SCAM||Deposited 2200 EUR and this money has never been credited on my account.|
I followed all instructions correctly and they have received my money.
My bank confirmed tat they received the payment after 3 days
In a few words SCAM
|SCAM||It nice to \"advertise\" tight spreads, but its important to note that the same tight ssreads can become very loose: from 2 - 20 or 30 pips for main pairs and from 40 - 250 for \"gold\". It is advisable not to trade Gold on this platform. The recent disclosure (How they make money) sent out 06/16/2008 is insightful and intuitively obvious for some time:|
Dear Customer Name,
We are required by the regulators to provide you with the two documents attached:
... (In Caps)
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. OANDA IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, OANDA\'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS OANDA ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES OANDA OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE
IF OANDA ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT OANDA MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE OANDA ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM OANDA OR ANY OF ITS SOLICITORS.
So one can deduce that Oanda like possible all others is a part-time casino (who sees your hand)...By the way how does one get to the point of \"OTHER WRITTEN DOCUMENTS OANDA ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU\"? it would seem likely that trading against the customer would possible be a better business decision.
Bucket shop is a brokerage firm that 'books\" (i.e., takes the opposite side of) retail customer orders without actually having them executed on an exchange. These brokerages are also often called boiler rooms.
Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop.  Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes \'in the bucket\' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market. Operating a bucket shop would also likely involve violations of several provisions of US federal securities or commodity futures laws.
|SCAM||OANDA is a scam. plain and simple. they are fine until you become profitable. once that happens, you become the enemy.|
If you seriously want to trade forex, you should not use OANDA.
Again... OANDA IS A SCAM !
|SCAM||above/below 2~3 pips from the stop-loss point I made, the graph went opposite.|
it was 80% of stop loss for 5months. COINCIDENCE?
|I have never had problem Oanda at all.I like this Broker.If you are into all the bells and whistles of indies well you wont find them here.This is an excellent place for beginner traders.You car trade down to 1 unit if you want.10,000 units is $1.00 US. Trailing stops now.I have made up to $750.00 in a trading session starting with just $50.00 and never had a problem.You just may have to beware of the fractional pips they use.That's why you are probably getting stopped out by that 1 pip.Ex price may be 1.4000 but on Oanda you might see 1.40009 with the fractional numbers.You can display this in settings.Very Simple platform.I know others who are using this and never had any problems and make tons of money on the platform..Bucket Shop?I personally don't think so at all.I thing to look for though is that if you are using Metatrader for a chart and trading on Oanda the price will vary by about 2 pips so keep this in consideration also.Well back to Oanda to make another 1-2k tonight.Happy pippin all!||Jack the Pipper Ripper||20.08.16|
|Before you read comments from people saying that any broker is a scam, please make sure you understand what thise peoples tradin geducation level is.|
I\'ve seen several traders who put Scam lavbel on Oanda saying that during the news time Oanda widens spreads to 20-30 pips. Wake up people! That\'s normal! It happens with all tradin gplatforms, that\'s what news time is all about, go and educate yourself bfore rating brokers in to scammers!
i give Oanda 4 stars only because their tradin gplatform is a bit too much simpple. It lacks a lot of good indicators traders could use. although simplicity is good, in this case if you have a system with exotic indicators, chances are Oanda is not for you... or. you\'d need to register with another broker to use their platform and execute trades with Oanda, but that\'s not too convenient...
|SCAM||I just found this video ***, looks like Oanda is a scam broker! I have traded with them on a live FXTrade account and nearly every market order has slippage. They make connection problems around times like NFP, and they hunt stops with some crazy price spikes. Bad broker to trade with.||ScamBuster||09.07.16|
|SCAM||If Oanda can eat all its customers money, why it waste so much time to earn the tiny spreads. |
The important thing is Oanda can make the market price, so that it can easily eat money without any penalty.
I question can anyone find any industry earn easy money like that.
|SCAM||Worsest scam I have ever seen. They will trigger your stop everywhere. You cannot earn with a market maker. If you are short/long and want to close the position you will have a rate above 10 pips above/below the real market rate. They will keep it as along until your positions are in minus. 0,9 pips in EUR/USD, sure ;-):-). Add another 10. The difference between oanda demo and oanda real are huge. Worsest scam I have ever seen in the retail world.||deleter||24.06.16|
|To all loosers here:|
Apply some logic:
1. Oanda makes money on spreads weather you loose or win. Why would they care what direction you trade?
2. The more you have, the more you trade, the more they make. Why would they want you to loose it all? Nobody is that dumb. You are their cow to milk. Killing you means no milk for them.
1. People who rant about 50 pips spreads - have no idea what NEWS and speculation means, nor have they any notion of high vs low liquidity.
2. People who rant about slippage - have no idea, what liquidity means in general.
3. People who rant about spikes - have no idea how easy it is to hunt down and domino daytrader\'s SL positions.
4. People who loose money - will always blame the broker.
5. People who win - will always praise themselves.
And further more:
1. We are all sheep.
2. We all run where they tell us.
3. Fear and greed is installed in all of us.
5. We all act emotionally.
6. We do not have the means to change any of the above.
With this knowledge, big players (and a handful of smart, quiet sheep) shave you daily.
Now. Armed with this information. Can you outrun 51% of all sheep?
Statistically you cannot in the long run.
According to Lorenz (Butterfly effect) you can outrun 54% with resonable knowledge, but not significantly more even with infinite knowledge.
Leave Oanda alone. They have nothing to do with your incapability to think.
|Spent 1.5 years with Oanda. Pro: Excellent customer service; I've contacted them at all hours and someone will be there. Very flexible on selecting leverage and no minimums on deposits. Quite a few pairs, and supplemental information there to use: such as the currency heat map.|
Cons: Their techs tweak the system about every 4 months; unless you constantly check the "forums" you will never know what is happening. The charts are a pain, although if you spend considerable time learning it, the results are passable, but don't depend upon them too strongly. BIG DETRIMENT 1: Since they only offer web or java trading platforms, you must be scrupulous in clearing your cache, and patient to jump thru their "tech analysis" hoops everytime you have a problem. BIG DETRIMENT 2: Unless you are a seasoned customer support user, FINDING the link to customer support/chat on Oanda is close to impossible. Conclusion: After spending the past two weeks dealing with a connectivity issue one more time with Oanda (I replaced all my DSL equipment, wires, filters; took my desktop in for a complete overhaul and checkup; and examination of my land lines by by telephone company) Oanda still insisted that the problem was entirely "my connection" and not their fault....so I said enough nonsense and put my money in FXDD.
|SCAM||Their software always shuts down during NFPs, not only for a couple of minutes but for hours sometimes...and they have no phone service where you can call in trades....wonder why that is??? Probably so they can trade against you and you can do nothing about it. Total Scam.... close my account with them a whil ago and only trade with FXCM now||K.M.||19.05.16|
|I think these people who have low rated OANDA are either representing other substandard brokers or they do not know what the trading is. Beleive me, in my two years with OANDA, i have not come across even a single folly on part of this broker, therefore, i don't need another one. I don't know which ONADA these SCAM LABELERS are talking about. They need to be careful in commenting on a REAL MARKET MAKER. THey are confusing such a person who is in search of a good broker.||FAZAL||16.05.16|
|SCAM||stop loss no executed.The price was 30 pips below my stop loss and the position was still open.They executed the way back when touch again that price.I closed my account with them.||gigi||08.05.16|
|Yes. It IS possible to make money with them. But, they don't PAT interest as they claim. They COLLECT interest. My account activity shows about 40 interest 'payments'. Only one of them in a possitive amount. Two of them are for $0.0000. The rest of them are for negative amounts. In short, they take more than they give in interest payments. If you ask them why, they simply refer you to their document on interest payments which doesn't have anything in it to clear up this question. They are simply skimming off the top.||Anonymouse||08.05.16|
|I posted this same message on all three boards for FXCM, Oanda, and Forex.com as it relates to all three.|
I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their *ss with st*pid trades and can't accept that.
I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com
I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K.
It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts.
So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter.
I use the different sites for diversity and each does have something unique. My friends like Forex.com becasue it has the web platform and hand held platform. I like Oanda because it has unique trades such as trading Gold versus USD at 50:1 and also you can vary leverage for each trade. I really like FXCM becasue of the simple interface and the daily news and trade forum they have. FXCM.com has also now added a web platform. Its nice for trading on your vacation when you promised the wife to not trade and do it anyway on the hotel computer. I don't have another job, but I could see it being useful for trading at work.
I am definitely proof that they are not scams with my withdrawels. I remember reading this forum after I had made my first 200K using FXCM.com. The next day I took out 100K because I was paranoid. No problem, was in my account in three days. After I become a gold member with 10 Million in trades per month, the next wire xfer was one day. Gold members get preferred treatment.
So if you want to trade forex, any of the three are great. I realize that not every site is legit. But I think you can trust the biggest outfits as they are making more money on the spread and don't need to scam you. Maybe all of Wall St. is a scam, but these brokers are no different than Schwab or Merrill Lynch. You can lose your *ss if you don't be careful.
I also like the interest rollover of Oanda and FXCM (I don't know the Forex.com rules) versus some other brokers. FXCM charges or pays a simple interest per day the trade is open. Some brokers use a different system and it seems to penalize carry traders. But I am used to the Oanda and FXCM way, maybe the others are fine once you understand the way they do the rollover interest.
Oanda says "1 pip spread", but they turn tis into 7-9 pips by price leaning.
When I compare Oanda prices to outside charts from e-signal, if the price is rising Oanda will be 3-4 pips higher. If the price is starting to fall on e-signal, Oanda will be 3-4 pips lower. Thus they pick up an extra 6-8 pips on a trade. They should just tell us they have a 7-9 pip spread.
And if the market is busy, their platform fails--no access to trading.
|oanda will tell you they have no problem with intraday trading or scalping for that matter. but they will have a spread of .9 pips and execute your trade for 2.9 pips off of quote and then on the back end get ya for another 2. they seem to have no problem executing a trade at the quoted price when in the red. now in their traders bill of rights they claim ev1 should be like them and be fully "100% automated (instant execution and settlement)" and you the trader should not have to put up with anything less. |
they say they have transparent trading and they "work to eliminate the hidden processes in pricing and execution that exists elsewhere in the forex market" lol RIIIIGHT... .9 = 6
they say "access to the forex market is overwhelmingly controlled by a handful of market makers whose intervention does not act in the best inerest of traders"- they should know, they are one of the biggest ones. .9 = 6
they say " execution and price are a function of the MM's greed" - yes it is and they do it well (.9pips = 6pips)
they also say that "retail traders accepting these "bad practices" only perpetuates the problem". and i do believe that one. why do we have to accept this poo? if their were no retail traders they would have to feed on each other.
I could go on and on about stuff they say the OTHERS do, and yet they do it the best. but i still have an account with them. why, because i can still make a profit and i don't have enough evidence to cause them pain yet. give me another week.
hey, btw did you all know that $148 really is $99 LOL when it's profit anyway.
|I've been with Oanda for over two years and haven't had major problems. Currently have around $100,000 with them. They certainly aren't perfect, but they do plenty of things that are great.|
Open a game/demo account and test for yourself. Note though that their game accounts are on different servers than the live ones, and that they use the game accounts for testing new features, so you may experience some technical problems every now and then. Also they are open on the weekends, but the spreads are much wider during that time - other brokers close access to their platform at this time.
|SCAM||My friend and I trade the forex together. He had an Oanda account. At first, all was ok. But as soon as he started trading consistently successfully, the BS started. They would widen the spreads to 25 Pips(!!!) on the littlest of news announcements. He wasn't a news trader but he couldn't trade with them for fear of not being able to get a trade filled when he needed to because of ridicuolous spreads.|
Bottom line, Oanda caters to losing traders. If you're successful, they will force you to go away.
Conclusion: They trade against you and if your good you lose them money.
Don't trade with them.
|Fair treatment of spike errors, fractional lots, no minimum balance, open forum, interest paid by the second, weekend platform access, low competitive spreads, instant fills, and low slippage are some of the reasons I trade with oanda... oh yeah, and high frequency trading is allowed...||technamental||29.02.16|
|They don't have most of important tools such as trailing stops, OCO's etc. Not to mention the famous slippage. but they are honest and very good spread,||samer||13.02.16|
|Oanda is fine, but they would be much better if they would add trailing stops, OCO orders, be able to straddle the account (long/short) and increase the leverage to 100 to 1.||Richie||08.02.16|
|I have to say I don't like OANDA. They don't have most of important tools such as trailing stops, OCO's etc. Not to mention the famous slippage.||FX-trader||16.01.16|
|No problems with this broker. It is agreeably that spread is low and that there is no minimum amount of money that is needed to begin a real live account.||mojo||07.01.16|