1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

OANDA order not executed

Discussion in 'Scam Alerts' started by swingpips99, Jan 7, 2019.

  1. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    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.
     

    Attached Files:

  2. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    7,545
    Likes Received:
    873
    First of all, invite the company by using invite company option to your thread. And if you unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.
     
    swingpips99 likes this.
  3. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    Thanks FXMaster.
     
  4. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    7,545
    Likes Received:
    873
    You are most welcome :)
     
  5. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    FxMaster,

    Oanda informed me earlier this week they would provide an answer by today. Before advising me they would reply this week, they told me it would be addressed within 3 business days, which was last Monday.

    That being said, I’ve still received no answer. Moreover, when there have been delays they have not updated me. I’ve sent a company invite and it doesn’t look too promising considering past actions. Any other method to grab their attention though this platform that reaches a wider audience?

    Throwing around dates to customers and not abiding by them is quite irresponsible for such an established company. It shouldn’t be this difficult for a well-run business to address an issue such as this and it shines light upon the inept approach of both their client support and their trading investigation team.
     
  6. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    Customer Support replied and the response was worse than expected:

    'Case Number: 00820589
    Case Subject: Fwd: AUDUSD Short - Hit TP but Unaccounted for by OANDA Broker

    Thank you for contacting OANDA.
    We apologize for the delay on this matter, we understand your inquiry concerns a take profit for a sell trade AUD/USD 25,000 units (0.25 lots) at 0.69741 with take profit at 0.67232.
    A take profit order is an order that is linked to an open trade and created with a price threshold. The order will be filled (Closing the trade) by the first price that equals 0.67232 or worse than the threshold. With OANDA there is no manual inversion, and nothing coded to monitor any client's open trades and associated stop levels, so when a stop level is hit a stop loss order automatically executed. Firms in our sector offer on dynamic spreads, which are more reflective of the market. In a more elaborated note dynamic spreads tend to widen at certain times, such as mark open/close, around news announcements, during market volatility and when trading is very thin, slippage can become a factor to all basic targets.
    Please be advised that the candlestick chart on MT4 platform is based on bid price. As it is a take profit on your short position, your position will be closed at the market ask price (Buy price). Thus, on the screenshot you provided, you are looking at the bid price.
    I've included the screenshot with the chart based on the ask candlesticks where you can see that your take profit was not triggered. The lowest ask was 0.67325 and you set up a take profit at 0.67232.
    Please let us know if you have any further questions.'

    She responded by directing me to a screenshot of a totally different trading platform with substantially different price points, unrelated to the matter that had been addressed. She mentions the ask price and is making the excuse it wasn't enough to cover the take profit. That may be the case on her platform she showed me but it's not the case on the platform I trade using OANDA and was not the platform I was asking about.

    I clearly indicated in my first email to her that the historical spreads from their own website shows the spread was more than enough to take profits on the trade in question and the screenshot I had sent her validated this, including the ask price having more than enough room to close out and take profits on the position. She ignored it and referred to an unrelated platform. I'm finished with these guys. They are either careless or intentionally deceiving and after being a dedicated customer for years, I do not appreciate the run-around/lack of execution. Is there any way to bring this to a wider audience FxMaster?
     

    Attached Files:

  7. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    Showing bid/ask spread that she conveniently ignored. Tread carefully with OANDA everyone. I may be missing something but it seems they are either aloof or willfully deceiving.
     

    Attached Files:

  8. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    7,545
    Likes Received:
    873
    Invite them to this thread.
     
  9. swingpips99

    swingpips99 Recruit

    Joined:
    Jan 7, 2019
    Messages:
    9
    Likes Received:
    0
    I had done so this past Tuesday.
     
: oanda, oanda.com

Share This Page