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Oanda.com

Discussion in 'Forex Brokers' started by Administrator, Dec 20, 2007.

  1. Administrator

    Administrator Just Administrator :-)

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  2. Sympatico

    Sympatico Recruit

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    If you're a forex loser, Oanda will welcome you...

    ... but you're not welcome if you win consistently. They will say they're happy either way. Don't believe them. They promote a little booklet entitle "Trader's Bill of Rights". Don't believe them. That's really the bottom line folks.
     
  3. euroforex

    euroforex Private

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    Oanda

    NFA contacted me... investigating Oanda about market price manipulations... preliminary stage... anyone who had traded FOMC report last month on Oanda and found it to be manipulating your order executions (regarding manual trades that were no honored at time of execution but much later - at a loss to you)... pls advise...
     
  4. Alfonso Esparza

    Alfonso Esparza Oanda Representative

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    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.
     
  5. euroforex

    euroforex Private

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    Dear Mr. Alfonso Esparza:

    You are correct for the moment, but I don't understand why you posted your comment. I imagine within a week or so it will be the contrary, as the NFA just finished taking my oral statement today substantiating my formal written complaint. (Note: I posted a previous notice here that I was filing a complaint to the NFA last month, of which I don't know where it went on this forum. That would bring you into the loop.)

    So you know, I made a complaint to Oanda regarding my posted issue which was discounted by your management at Oanda as policy that manual trades without a stop loss or take profit preset are not recognized when Oanda's platform crashes and a trader's executed trade to close is not recognized, though it was executed prior to your platform crashing - thus causing the trader to lose lots of money during the server's down period, and when trying to contact Oanda by phone, the time frame, which is in seconds for most events, causes further losses during the period of dialing and connecting with a brokerage agent; under the circumstances of the incident, it is suspect of fraudulent market maker brokerage practices. The timed frequency of your platform crashes to high impact economic reports are fairly consistent, especially on high volume trading activity and volatility. I've noticed this over an eight year period. Sometimes I wonder if Oanda has the margin capitalization to cover such heavy trading times, and as a means to cover their limited cash reserve (that far exceeds the required amount) the server is shut down. It is all very suspicious since there is consistency that has other FX spot market traders who have used Oanda complain of the same event.

    Knowing that the aforementioned methodology is not conducive to the standard forex spot market maker brokerage business practices in relationship to their clients (in comparison all my manually executed trades were time stamped and honored at FXCM when their online servers crashed) I decided to alert the NFA with a formal complaint.

    My intent here is to solicit anyone else who might have experienced a trade execution anomaly (platform crashes at key report release time frames with Oanda's trading platform specifically during the FOMC report release last month as the most credible evidence of such practice. (Though my post has been transferred to the "Review" forum.)

    Perhaps I shouldn't have tooted my horn here and tipped you off.

    Best,
    Euroforex

    PS I have informed the NFA that I have posted a solicitation on FPA for any other traders who have had problems with Oanda to contact me directly as I want to compile their experiences directly and not copy and paste from the Review forum.

    Peace.
     
    #5 euroforex, Dec 6, 2010
    Last edited: Dec 6, 2010
  6. forever21

    forever21 Recruit

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    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.
     
  7. UOBGUNNER

    UOBGUNNER Recruit

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    ya..
    i also face the same
    i won 40 pips
    i try to close it
    after i loggin into fxtrade
    i see my position was open n winng 40 pips
    i click close position

    once i click,
    the fxtrade disconnected automatically
    i tried it few times
    it happen again


    so now i -open account which can use in fxtrade n mt4
    so that when i need to close postion,i can do it in mt4[if fxtrade did not work]

    but one more new problem occur...
    i always cant login into fxtrade[i need its 30 second time frame graph]

    so sad...
    how come oanda also become this kinda of suck broker...
     
  8. sarajevo

    sarajevo Recruit

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    OANDA closes positions at will - always to their advantage

    Aug. 04.2011 at about 7:40 PM PST - AGAIN - oanda closed a position I had lined up for closing - waiting for the appropriate moment (it was at about =/- $200.00 plus,) when it dropped - OANDA Closed on THEIR VOLITION at +$83.00 , not allowing me to wait until it went up again and then close. This occured several times during the last week. MOST often THEY closed my postion at my loss.

    I am on Demo - re-considering strongly signing live with them - - also - I posted at this site a review several days ago - it never was printed - the review contained concrete evidence of above mentioned actions.


    Furthermore,
    Aug.03.2011 platform frozen intermittently between 12:00 and 02:00 AM
    below is a transcript copy of the conversation with OANDA:

    You are now chatting with 'OANDA'
    OANDA: Thank you for choosing OANDA. How may I help you?
    xxxxxx: a) can't log in b) ur site =frozen
    OANDA: Which platform you can't log in?
    xxxxxx: fx trade practice
    OANDA: There appears to be an issue loading the platform for some clients.
    OANDA: Our technical team is looking into it right now.
    OANDA: It will be fixed very soon. Please wait for a few minutes.
    xxxxxx: it works on 1 computer = ur platform on that one is frozen since several minutes
    OANDA: We are aware of this issue.
    OANDA: we have notified the technical department and they are working on resolving the issue.
    xxxxxx: now trying to log into other computer, explorer does not let me telling me there is something wrong with your website
    xxxxxx: running vista on that computer, but = it did work in the past
    OANDA: Please wait for a few minutes.
    OANDA: Our technical team is fixing it right now.
    xxxxxxx: what IS THE PROBLEM ???? - repeatedly occurring since midnight - huge spikes - fluctuating ....
    OANDA: We are not sure what the problem is, but Our technical team is investigating it.
    OANDA: Please wait for a few minutes.
    xxxxxxx: running on 1 computer now - resulting loss =$1400.00
    xxxxxxx: who would want to open a real account w u - given the circumstances????
    OANDA: Our live account is working fine. This problem only happens to the demo platform.
    OANDA: If you have any trades affected by the connectivity issue in the live account, we will reimburse you.
    xxxxxxx: hahahahaha - allegedly - both work identically and are one and the same
    xxxxxxx: reviews on various sites cite the se very same occurrences with LIVE accounts - what is the reason for those occurrences?
    OANDA: It happens rarely on the live platform with unknown technical problems. If you have any trades affected by the connectivity issue in the live account, we will reimburse you.
    OANDA: Is there anything else I can help you with?
    xxxxxxx: welll b--- what is the issue with ur incompatibility with explorer - where is your help page illuminating resolve of log in issues?
    OANDA: Please clear your browser cache if you cannot open the website properly.
    OANDA: Troubleshooting | OANDA fxTrade
    mummy: how? where are the instruction s - clicking on your 'link' does not open a help page ..
    OANDA: Please clear your browser cache if you cannot open the website properly.
    OANDA: We have not heard from you. Do you wish to continue with this chat?
    xxxxxxx: no thank u
    xxxxxxx: site = frozen again
    OANDA: Our website is working fine. You may try with another browser.
    xxxxxxx: no -that is the computer where i am in on running windows xp - the other one with difficulte accessing your trading platform = running vista
    OANDA: The fxTrade Practice platform is working now.
    OANDA: If you can't log into the platform, please use fxdesktop.
    OANDA: You may download our fxTrade Desktop application from our website here
    OANDA: Trade Currencies on Your Desktop | OANDA fxTrade


    In short, I concure with earlier posts citing identical issues with OANDA.
     
  9. sarajevo

    sarajevo Recruit

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    :mad: Aug. 04.2011 around 7:40 PM PST oanda AGAIN closed one of my positions in their favor, such conduct has occurred several times during this week -


    Aug.03.2011 platform frozen intermittently between 12:00 and 02:00 AM

    You are now chatting with 'OANDA'
    OANDA: Thank you for choosing OANDA. How may I help you?
    xxxxxx: a) can't log in b) ur site =frozen
    OANDA: Which platform you can't log in?
    xxxxxx: fx trade practice
    OANDA: There appears to be an issue loading the platform for some clients.
    OANDA: Our technical team is looking into it right now.
    OANDA: It will be fixed very soon. Please wait for a few minutes.
    xxxxxx: it works on 1 computer = ur platform on that one is frozen since several minutes
    OANDA: We are aware of this issue.
    OANDA: we have notified the technical department and they are working on resolving the issue.
    xxxxxx: now trying to log into other computer, explorer does not let me telling me there is something wrong with your website
    xxxxxx: running vista on that computer, but = it did work in the past
    OANDA: Please wait for a few minutes.
    OANDA: Our technical team is fixing it right now.
    xxxxxxx: what IS THE PROBLEM ???? - repeatedly occurring since midnight - huge spikes - fluctuating ....
    OANDA: We are not sure what the problem is, but Our technical team is investigating it.
    OANDA: Please wait for a few minutes.
    xxxxxxx: running on 1 computer now - resulting loss =$1400.00
    xxxxxxx: who would want to open a real account w u - given the circumstances????
    OANDA: Our live account is working fine. This problem only happens to the demo platform.
    OANDA: If you have any trades affected by the connectivity issue in the live account, we will reimburse you.
    xxxxxxx: hahahahaha - allegedly - both work identically and are one and the same
    xxxxxxx: reviews on various sites cite the se very same occurrences with LIVE accounts - what is the reason for those occurrences?
    OANDA: It happens rarely on the live platform with unknown technical problems. If you have any trades affected by the connectivity issue in the live account, we will reimburse you.
    OANDA: Is there anything else I can help you with?
    xxxxxxx: welll b--- what is the issue with ur incompatibility with explorer - where is your help page illuminating resolve of log in issues?
    OANDA: Please clear your browser cache if you cannot open the website properly.
    OANDA: Troubleshooting | OANDA fxTrade
    mummy: how? where are the instruction s - clicking on your 'link' does not open a help page ..
    OANDA: Please clear your browser cache if you cannot open the website properly.
    OANDA: We have not heard from you. Do you wish to continue with this chat?
    xxxxxxx: no thank u
    xxxxxxx: site = frozen again
    OANDA: Our website is working fine. You may try with another browser.
    xxxxxxx: no -that is the computer where i am in on running windows xp - the other one with difficulte accessing your trading platform = running vista
    OANDA: The fxTrade Practice platform is working now.
    OANDA: If you can't log in to the platform, please use fxdesktop.
    OANDA: You may download our fxTrade Desktop application from our website here
    OANDA: Trade Currencies on Your Desktop | OANDA fxTrade

    Thus, I concur with other posters cites identical experience with OANDA. I have posted a review about the above on FPA, they have not been published by FPA.
     
  10. sarajevo

    sarajevo Recruit

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    BE CAREFULL when following FPA EU trading suggestions

    FPA appears to frequently suggesting placing positions in what turns then out to be the opposite of the performance said - one could infere Oanda - a subscriber to FPA - derives some of its profit leading customers in the opposite direction :mad:.........

    to be monitored .......



     
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