Discuss Oanda.com

[Jeffrey Thomas]

Where to open an account.

To many mixed reviews, but i believe there is a connectivity problem

 

[thebalance116]

Onada Blatantly Stop-loss Me Above The Price 4 Pips

Please see the attached file. They blatantly close my positions at 1.39050 while the price NEVER GOT HIGHER THAN 1.39014. They are thief and cheater.:shocked:

 

[[Sniper]]

I used Oanda about 3 years ago. At that time I was a new trader and Oanda was my first experience. The screens would regularly freeze up.
I thought that is just how the market was and because of large volume all over the world I figured that was par for the course. I got discouraged though.

This year I thought maybe I imagined all my problems at Oanda. I thought I would try them again. Worse. Especially when I was trading a busy market.

Not ONLY do their screens freeze up---much worse than that....many times I would be trading one currency pair and I would view the screen and notice that chart patterns had changed....YES---I WAS NOW LOOKING AT A DIFFERENT PAIR THAN I WAS TRADING!

IT GETS WORSE. At times I would be trading and I would go from screen to screen looking at different timeframes. Many times I would find I was looking at the 15 minute when the 5 sec showed on the screen. Often the 5 sec or 10 or 30 sec would completely freeze and I had to go to the 1 minute or 15 minute or 30 second screens.

I told OANDA about this and they always told me the same thing: clear your JAVA cache. It got so I would be clearing my JAVA cache constantly every day. I could not notice any difference as this did not seem to help.

Then OANDA told me "nobody else is complaining except you. You must have a bad internet connection. "

I told them I have used several different connections to test this out and they were all top carriers including COMCAST and AT&T AND the only webiste I would have trouble with was OANDA'S.

They continued telling me it was only me. So I started looking for reviews of OANDA online and I emailed pages and pages and pages of people who also complained of the same things and OANDA would not acknowledge these pages.

If you listen to how OANDA people talk to you they are very guarded in how they talk to you. They are not lively and open. They are monotone and
tight-lipped.....


I believe Oanda will get found out and shut down. It has to happen.
There are too many complaints out there. Don't believe me. Just go GOOGLE Oanda and "review" or "reviews" online and you will see the same complaints.

I think the people who are happy with Oanda are truly happy but I do not think they trade in heavy traffic.

I hope others will comment on Oanda as I think their time is coming. If you find yourself in a busy market and you try to close a trade you may find the action of trying to close the trade does not work at all. Or a few minutes later you may find it did close but the price is much different than what you closed it at.

I can't even begin to know how many times I tried logging into OANDA and the system would not accept my username and passwords so I would have to attempt to log in like 10 times and even then sometimes I would have to wait an hour before I could get in.

OANDA's "on the spot" live help would always tell me either to try clearing Java cache or get a new internet connection or use the desktop trading model or use the META4 TRADING PLATFORM....I asked them if I need ot use those does that mean FXTRADE is inferior and you already know this and you let people trade on it anyway?

So then I tried their DESKTOP and had the SAME PROBLEMS.
With their intermittent connections and freezing screens, or not being able to log in, you are going to lose sooner or later. My opinion----when I was making money it happened more. Just my opinion.

You just said what I am literally going through right now. Yes, the famed "clear your java cache" is being given every time you complain. What is also irritating is the fact that these problems are not present when you are losing but when you are winning, they suddenly disconnect you and the server seems to "know" your trading habits - they log you out and disconnect you from the hours you trade and allow you to log-in on the wee hours of the morning where you trade with less frequency.

OANDA seems like a scam to me. There many times where you would get slippages as well - no problems at all when I was losing but when you're winning, the do everything they can to make you lose. I can't say this is due to inexperience either since I've been trading and winning.

Anyone who has traded with them and tell that they are great obviously are:

1) OANDA employees
2) Inexperienced traders who are on the losing end

OANDA are a bunch of crooks. I'd have to say stay away from them. You're better off investing somewhere else.

 

[matheszabi]

Please see the attached file. They blatantly close my positions at 1.39050 while the price NEVER GOT HIGHER THAN 1.39014. They are thief and cheater.:shocked:

just watch better the image what have you posted!
There is the price flat at the end ( I know that is the weekend ) In the chart you can put the BID or the ASK price or BOTH!
Watch the spread: 10 PIP.

Actually you are watching the BID ( or the ASK) and the Stop lose is hitten by the other price, which is at 10 PIP distance.

You can't read your monitor and are making us to lose time and give negative review useless.

Oanda deserve very bad review for: software implementation, especially at mobile part(iPhone and Android), and reports(because is a transdaction log, not a trade report for tradrers), but not as broker.

 

[matheszabi]

You just said what I am literally going through right now. Yes, the famed "clear your java cache" is being given every time you complain. What is also irritating is the fact that these problems are not present when you are losing but when you are winning, they suddenly disconnect you and the server seems to "know" your trading habits - they log you out and disconnect you from the hours you trade and allow you to log-in on the wee hours of the morning where you trade with less frequency.

OANDA seems like a scam to me. There many times where you would get slippages as well - no problems at all when I was losing but when you're winning, the do everything they can to make you lose. I can't say this is due to inexperience either since I've been trading and winning.

Anyone who has traded with them and tell that they are great obviously are:

1) OANDA employees
2) Inexperienced traders who are on the losing end

OANDA are a bunch of crooks. I'd have to say stay away from them. You're better off investing somewhere else.

My balance is positive, used the max leverage too.
Didn't put me they in a special "disconnecting" queue.
Like I told previously: as broker it seems to be fair, just they platform need to be improved, a looooot.

I wanted to be employed or even work for free, just to fix they software, but they knows better what they want to allow us
I think they intensions is: to make a horrible platform to buy they API and build your software on they API

 

[osarun]

A traditional hunting.

EURJPY 5sec




Oanda is a broker that do like this.

 

[idude]

It's becoming more and more close to impossible to trade with Oanda and they used to be one of my favorite brokers. It is so obvious that they go stop hunting, I don't even know how these people get away with this kind of behavior. If there's a lot volume and if you have an account with a real broker like an ecn broker, the spread tightens but not with Oanda, in fact with Oanda the spread widens quite a bit, it is a joke, they claim that this is the feed they get from their providers which is an outrageous lie, no other real broker will widen the spreads like they do. With ecn brokers your spread stays with 0 to 0.7 pips but with Oanda it can go all the way up to 30 pips, this is not caused by their feed if it was you would notice the same kind of spread widening with the other brokers and you don't unless the other is also another bucket shop. It is time we start filing complaints about oanda with CFTC and NFA, this kind of behavior is just unacceptable. I do not scalp but I day trade and my stops are anywhere from 15 to 40 pips and my targets to at least 1:1 depending of what I see on the chart, if it is less I don't trade. I trade off 30 minute for my main analysis and 5 minute for entry.

Today, January 29th 2014, I decided to record their widening of spreads around 2 pm Eastern Time, around a major news release, and I did the same with MBtrading, it wasn't as bad as some other days in the past but you can still notice their obnoxious widening of spreads. Please compare, it is just sad. This is just 10 seconds of recording on USDJPY.

Here's Oanda Spreads:

14:0:20 - Ask: 102.272 | Bid: 102.182 | Spread: 9.00 pips
14:0:20 - Ask: 102.265 | Bid: 102.179 | Spread: 8.60 pips
14:0:20 - Ask: 102.270 | Bid: 102.186 | Spread: 8.40 pips
14:0:20 - Ask: 102.265 | Bid: 102.182 | Spread: 8.30 pips
14:0:21 - Ask: 102.280 | Bid: 102.199 | Spread: 8.10 pips
14:0:21 - Ask: 102.272 | Bid: 102.193 | Spread: 7.90 pips
14:0:21 - Ask: 102.276 | Bid: 102.199 | Spread: 7.70 pips
14:0:21 - Ask: 102.270 | Bid: 102.195 | Spread: 7.50 pips
14:0:21 - Ask: 102.266 | Bid: 102.193 | Spread: 7.30 pips
14:0:22 - Ask: 102.264 | Bid: 102.194 | Spread: 7.00 pips
14:0:22 - Ask: 102.247 | Bid: 102.176 | Spread: 7.10 pips
14:0:22 - Ask: 102.247 | Bid: 102.156 | Spread: 9.10 pips
14:0:22 - Ask: 102.243 | Bid: 102.144 | Spread: 9.90 pips
14:0:22 - Ask: 102.237 | Bid: 102.141 | Spread: 9.60 pips
14:0:23 - Ask: 102.240 | Bid: 102.146 | Spread: 9.40 pips
14:0:23 - Ask: 102.233 | Bid: 102.141 | Spread: 9.20 pips
14:0:23 - Ask: 102.231 | Bid: 102.140 | Spread: 9.10 pips
14:0:23 - Ask: 102.246 | Bid: 102.153 | Spread: 9.30 pips
14:0:23 - Ask: 102.246 | Bid: 102.152 | Spread: 9.40 pips
14:0:24 - Ask: 102.243 | Bid: 102.147 | Spread: 9.60 pips
14:0:24 - Ask: 102.239 | Bid: 102.145 | Spread: 9.40 pips
14:0:24 - Ask: 102.240 | Bid: 102.147 | Spread: 9.30 pips
14:0:24 - Ask: 102.239 | Bid: 102.149 | Spread: 9.00 pips
14:0:24 - Ask: 102.225 | Bid: 102.136 | Spread: 8.90 pips
14:0:25 - Ask: 102.222 | Bid: 102.135 | Spread: 8.70 pips
14:0:25 - Ask: 102.249 | Bid: 102.165 | Spread: 8.40 pips
14:0:25 - Ask: 102.222 | Bid: 102.141 | Spread: 8.10 pips
14:0:25 - Ask: 102.225 | Bid: 102.146 | Spread: 7.90 pips
14:0:26 - Ask: 102.240 | Bid: 102.164 | Spread: 7.60 pips
14:0:26 - Ask: 102.240 | Bid: 102.167 | Spread: 7.30 pips
14:0:26 - Ask: 102.238 | Bid: 102.168 | Spread: 7.00 pips
14:0:26 - Ask: 102.234 | Bid: 102.165 | Spread: 6.90 pips
14:0:27 - Ask: 102.228 | Bid: 102.163 | Spread: 6.50 pips
14:0:27 - Ask: 102.221 | Bid: 102.157 | Spread: 6.40 pips
14:0:27 - Ask: 102.229 | Bid: 102.168 | Spread: 6.10 pips
14:0:27 - Ask: 102.262 | Bid: 102.203 | Spread: 5.90 pips
14:0:28 - Ask: 102.255 | Bid: 102.199 | Spread: 5.60 pips
14:0:28 - Ask: 102.265 | Bid: 102.211 | Spread: 5.40 pips
14:0:28 - Ask: 102.252 | Bid: 102.199 | Spread: 5.30 pips
14:0:28 - Ask: 102.243 | Bid: 102.193 | Spread: 5.00 pips
14:0:28 - Ask: 102.237 | Bid: 102.188 | Spread: 4.90 pips
14:0:29 - Ask: 102.234 | Bid: 102.188 | Spread: 4.60 pips
14:0:29 - Ask: 102.231 | Bid: 102.190 | Spread: 4.10 pips
14:0:29 - Ask: 102.228 | Bid: 102.188 | Spread: 4.00 pips
14:0:29 - Ask: 102.226 | Bid: 102.188 | Spread: 3.80 pips
14:0:30 - Ask: 102.239 | Bid: 102.203 | Spread: 3.60 pips
14:0:30 - Ask: 102.250 | Bid: 102.216 | Spread: 3.40 pips
14:0:30 - Ask: 102.250 | Bid: 102.218 | Spread: 3.20 pips
14:0:30 - Ask: 102.252 | Bid: 102.218 | Spread: 3.40 pips
14:0:30 - Ask: 102.254 | Bid: 102.222 | Spread: 3.20 pips

Here's MBtrading:

14:0:20 - Ask: 102.068 | Bid: 102.058 | Spread: 1.00 pips
14:0:20 - Ask: 102.052 | Bid: 102.034 | Spread: 1.80 pips
14:0:20 - Ask: 102.049 | Bid: 102.034 | Spread: 1.50 pips
14:0:20 - Ask: 102.061 | Bid: 102.042 | Spread: 1.90 pips
14:0:20 - Ask: 102.059 | Bid: 102.043 | Spread: 1.60 pips
14:0:21 - Ask: 102.062 | Bid: 102.042 | Spread: 2.00 pips
14:0:21 - Ask: 102.071 | Bid: 102.036 | Spread: 3.50 pips
14:0:21 - Ask: 102.082 | Bid: 102.052 | Spread: 3.00 pips
14:0:21 - Ask: 102.082 | Bid: 102.037 | Spread: 4.50 pips
14:0:21 - Ask: 102.144 | Bid: 102.094 | Spread: 5.00 pips
14:0:21 - Ask: 102.117 | Bid: 102.094 | Spread: 2.30 pips
14:0:22 - Ask: 102.149 | Bid: 102.100 | Spread: 4.90 pips
14:0:22 - Ask: 102.167 | Bid: 102.100 | Spread: 6.70 pips
14:0:22 - Ask: 102.171 | Bid: 102.152 | Spread: 1.90 pips
14:0:22 - Ask: 102.176 | Bid: 102.131 | Spread: 4.50 pips
14:0:22 - Ask: 102.179 | Bid: 102.130 | Spread: 4.90 pips
14:0:22 - Ask: 102.191 | Bid: 102.155 | Spread: 3.60 pips
14:0:23 - Ask: 102.193 | Bid: 102.162 | Spread: 3.10 pips
14:0:23 - Ask: 102.196 | Bid: 102.163 | Spread: 3.30 pips
14:0:23 - Ask: 102.207 | Bid: 102.183 | Spread: 2.40 pips
14:0:23 - Ask: 102.196 | Bid: 102.173 | Spread: 2.30 pips
14:0:23 - Ask: 102.193 | Bid: 102.173 | Spread: 2.00 pips
14:0:23 - Ask: 102.186 | Bid: 102.175 | Spread: 1.10 pips
14:0:24 - Ask: 102.164 | Bid: 102.152 | Spread: 1.20 pips
14:0:24 - Ask: 102.186 | Bid: 102.164 | Spread: 2.20 pips
14:0:24 - Ask: 102.195 | Bid: 102.169 | Spread: 2.60 pips
14:0:24 - Ask: 102.203 | Bid: 102.170 | Spread: 3.30 pips
14:0:25 - Ask: 102.219 | Bid: 102.183 | Spread: 3.60 pips
14:0:25 - Ask: 102.228 | Bid: 102.204 | Spread: 2.40 pips
14:0:25 - Ask: 102.218 | Bid: 102.181 | Spread: 3.70 pips
14:0:25 - Ask: 102.227 | Bid: 102.204 | Spread: 2.30 pips
14:0:26 - Ask: 102.240 | Bid: 102.204 | Spread: 3.60 pips
14:0:26 - Ask: 102.228 | Bid: 102.205 | Spread: 2.30 pips
14:0:26 - Ask: 102.228 | Bid: 102.225 | Spread: 0.30 pips
14:0:26 - Ask: 102.228 | Bid: 102.201 | Spread: 2.70 pips
14:0:26 - Ask: 102.239 | Bid: 102.213 | Spread: 2.60 pips
14:0:27 - Ask: 102.207 | Bid: 102.200 | Spread: 0.70 pips
14:0:27 - Ask: 102.204 | Bid: 102.167 | Spread: 3.70 pips
14:0:27 - Ask: 102.196 | Bid: 102.192 | Spread: 0.40 pips
14:0:27 - Ask: 102.209 | Bid: 102.194 | Spread: 1.50 pips
14:0:27 - Ask: 102.207 | Bid: 102.186 | Spread: 2.10 pips
14:0:28 - Ask: 102.205 | Bid: 102.181 | Spread: 2.40 pips
14:0:28 - Ask: 102.196 | Bid: 102.181 | Spread: 1.50 pips
14:0:28 - Ask: 102.195 | Bid: 102.178 | Spread: 1.70 pips
14:0:28 - Ask: 102.201 | Bid: 102.178 | Spread: 2.30 pips
14:0:28 - Ask: 102.216 | Bid: 102.211 | Spread: 0.50 pips
14:0:29 - Ask: 102.246 | Bid: 102.227 | Spread: 1.90 pips
14:0:29 - Ask: 102.246 | Bid: 102.223 | Spread: 2.30 pips
14:0:29 - Ask: 102.228 | Bid: 102.209 | Spread: 1.90 pips
14:0:30 - Ask: 102.226 | Bid: 102.202 | Spread: 2.40 pips

I will keep on tracking by comparing more brokers, I'm planning to compare Oanda with FXCM, MBtrading, IBFX and FXopen.

 

[lukifer]

Anyone have updates on this broker? Considering them and the most recent post is a few years old.

 

[swingpips99]

Hi all,

Currently trying to reach out to an OANDA Client Experience associate to ask them why a recent position taken on January 3rd, 2019 00:23:32 (MT4 server displays Cairo Time) did not execute upon hitting Take Profit at 00:39:00 Cairo Time/17:39:00 EST. I had sent them 2 emails last week, as well as spoke to a representative who went by the name of Chloe. She informed me the inquiry would be addressed within 3 business days. It has now been 3 business days and the issue has not been addressed. It's near impossible to get a hold of someone through chat or phone unless you wait more than half an hour.

I have been trading with OANDA for approximately 3 years with my corporate account and individual accounts and have made thousands of transactions with them. They have garnered ample revenue from my side throughout these years via their spreads, yet cannot tell me when they are able to get back to a concern I have dealing with a question relative to a non-executed trade. This is due to extremely high volume and not enough support. Below is a chat transcript I had today:

Jochen (1/7/2019, 1:01:06 PM): Thank you for contacting OANDA. My name is Jochen. How may I help you today?
Me (1/7/2019, 1:01:21 PM): hi
Jochen (1/7/2019, 1:01:35 PM): Hello Holden
Me (1/7/2019, 1:02:00 PM): Hope you're doing well. I have a question about my account and a position that was not executed last week.
Jochen (1/7/2019, 1:02:24 PM): Okay
Me (1/7/2019, 1:02:39 PM): I have sent the front desk 2 emails and spoke to a client support specialist, who informed me the inquiry would be addressed within 3 business days.
Jochen (1/7/2019, 1:02:43 PM): How can I help you here
Me (1/7/2019, 1:02:56 PM): It has now surpassed 3 business days and no response
Jochen (1/7/2019, 1:03:10 PM): the email is with us
Jochen (1/7/2019, 1:03:25 PM): The responsible agent will respond back to you asap
Me (1/7/2019, 1:03:27 PM): I'm currently calling OANDA and have been on hold for more than 30 minutes.
Jochen (1/7/2019, 1:03:47 PM): Due to the holidays we have had less staff on and the volumes have been intense
Jochen (1/7/2019, 1:03:50 PM): My apologies here
Me (1/7/2019, 1:04:01 PM): Please do so. I've been a customer for 3 years and find your service wonderful.
Jochen (1/7/2019, 1:04:38 PM): Understandable
Me (1/7/2019, 1:05:05 PM): I'd hate to post on FPA and rant about customer service, but that position was the largest profit on a single position in this account. It's very important to me to maintain the trust. Thanks Jochen.
Jochen (1/7/2019, 1:05:34 PM): you can rant if you wish sir, this is your good right
Jochen (1/7/2019, 1:05:47 PM): the email is with us and we will take care of your concern
Me (1/7/2019, 1:06:11 PM): I know, but I'd like to speak with someone to find the reason as to why my trade wasnt executed before I do so.
Me (1/7/2019, 1:06:13 PM): Thanks
Jochen (1/7/2019, 1:06:33 PM): We will take care of your email sent to us
Jochen (1/7/2019, 1:06:45 PM): and will get back to you asap
Jochen (1/7/2019, 1:07:00 PM): thank you for your great approach today
Jochen (1/7/2019, 1:07:06 PM): I appreciate it highly sir
Me (1/7/2019, 1:07:14 PM): Thanks again Jochen. Have a wonderful day.

Afterwards, I asked Jochen if I could get a ballpark estimate into when the inquiry could be addressed. He could not provide me with one and soon thereafter, without asking me if I needed anything else, ended the chat abruptly. Once a customer support representative picked up via phone after 42 minutes on hold, he told me the same but was more cordial.

Attached is a screenshot of my trade wherein the position was not executed alongside their historical spreads. The horizontal blue line on MT4 representing the TP level is clearly indicated and the price action on the pair displays that it surpassed this price. Looking at the historical spreads on the OANDA website which you can see attached, there was more than enough room for the pair to be executed.

To be honest, this is the first issue I've had with their business and hope it will be resolved in a timely manner. They have always been very fair as to trade execution personally speaking, but this is something that needs to be addressed. It's probable they will tell me there was a price differential between the MT4 platform and their platform, and if this is their response, I will no longer be using their services as this is not the fault of the customer.

 

[swingpips99]

Hello euroforex,

I work at OANDA and I can tell you that:

1. OANDA is not aware of any NFA investigation.
2. The NFA has not contacted us regarding market price manipulation.

Alfonso,

Please reach out to your team to provide an explanation to a post I made addressing a trade that was not executed on 1/3/19. After emailing your employer twice and speaking to two representatives via phone and chat, they have not provided a response. Looking forward to hopefully continuing to use your services and reading your analyses. All the best.