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Oanda
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| "Spread is terrible lately, don't open any new account with them at this time" - steve.larson | October 07, 2009 7:01 AM |
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1 ) On their web site, Oanda claims that all you pay is a small spread (of 1 to 1.3 pips) on all major currencies, AND that's it; there are no additional charges. How about telling the truth? How about calling attention to their large spreads? AND to their additional charges?
2 ) Oanda claims their spreads are a maximum of 1.3 pips on all major currencies. How about the truth? EUR/USD = 2.5 - 4 pips some of the time, but it is 10+ pips, hour after hour! For many hours! Every day! Day after day!
3 ) And, as to interest charges, imagine this! Oanda deducts additional money for so called interest charges, too! And when they do it, they don't charge by the DAY! They charge by the SECOND!
4 ) And, fxtrade was right. He asked the right question! Why is it that, at Oanda, the spread is getting wider? Probably because they want to pad the bottom line at YOUR EXPENSE! Or, probably because they own a bunch of luxury cars at YOUR EXPENSE, and it is getting expensive to put gas into those luxury cars! Well, whatever the reason is, stay away from this broker for now... |
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| "from 1$ to 1M" - SNBthetrue | August 04, 2009 3:06 PM |
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Reliable ( 95% but nothing to do with volume or news more natural instability of java ), fast, scalable, start with as little as 1$ don't need to take more risk to enjoy !
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| "What an improvement!" - cabletrader | April 05, 2009 12:44 AM |
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It's amazing how things have changed so dramatically at Oanda in just a few short months since my last review!
Oanda without doubt went through a bad spell and had some serious platform, connectivity, and trade execution issues but it looks like they have resolved most of those problems and are back to being one of the best marketmakers out there.
Platform and connection reliability and stability are excellent, fills are fast and in the majority without slippage even in thin volatile market conditions, and spreads are normally tight (except around scheduled fundamental news releases), even their customer service and IT support have vastly improved. This is the Oanda we know and love, excellent!
Performing the way they are now I would have absolutely no hesitation in recommending them to both experienced and novice traders alike, let's hope they keep it up!
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| "Their platform sucks!" - cabletrader | November 02, 2008 11:25 PM |
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Oanda used to be a great marketmaker, now they're barely competitive! Spreads are sometimes ridiculous even in the most liquid market conditions, their java platform is quirky, connectivity is unreliable, slippage is out the wazoo at times, and customer service is worse than ever!
Professional traders are getting fed up and leaving, they won't stand for this garbage. If they don't get their act together soon Oanda are going to be left with demo kiddies and nickel&dime pocket-change wannabes.
On the plus side, when things are working properly they fill everything thrown at them, also they have a user-friendly fund manager front-end and back office.
Note: If you're having problems with their platform it might help to get rid of charts and action buttons (Tools > View and uncheck the boxes), it kinda marginally improved things for me. Also update and regularly clear your java cache. |
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| "Spread is terrible lately, don't open new account with them at this time" - fxtrade | October 29, 2008 6:50 PM |
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eur/usd = 2.5 - 4 pip at normal ===>> 10 or more pip at news
gbp/usd = 10 pip now , ---->> 15 or more pip at news
look at this gold and usd spread guys .... $2 , way too high
usd/chf = 5 pip at normal ---->> 15 or more pip at news
I'm wondering why the spread widen lately ????
Whatever reason, stay away this broker for now ...
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Recommended Not Recommended
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