What did you expect? That they send the SWAT in and rescue the virgin? The way this works is that an affected client files a NFA complaint/arbitration and then Oanda will get a fine (or not). Only then can you judge if the rule is effective or not.
Anyone is having problems with their "upgraded" platform ? Another case of aholes running development I am afraid....
Right, so Oanda just ignore it and carry on as normal until someone complains, nice. I don't see how that's cost effective for them though, pay the winnings and pay a fine, and have a bad reputation into the bargain. Maybe they intend to settle before it gets that far, in fact are arbitrations even recorded?
Yep, it's back to slow quotes and freezing quotes. At one time I thought they were doing it on purpose but I think they're actually just incompetent!
Yes, for example here: http://www.nfa.futures.org/basicnet/Arbitration.aspx?entityid=0258600&case=03ARB147
Well, I have tried them for two weeks. I had a good first week, and I really like the flexible position sizing. I am not pleased at all with the spike, nor the manner in which it was handled by Oanda. It was as though the spike happened and no one at Oanda was paying attention. Had someone competent been in control, the appropriate response would have been to issue a timely, i.e. immediate notice, both on their website, their forum, and via email to all their customers that any and all trades based on the incorrect price data would be reversed, and that due to the size and scope of the collateral errors caused by the initial error, such adjustments may take days. That would have covered them via the NFA 15 minute rule. As it is, Oanda cannot even be said to have made a "good faith effort" to compy with the rule. If I am not mistaken, it was hourse before anyone at Oanda publically acknowledge the spike. Indeed, Oanda is acting as though the rule does not apply to them. Time will tell whether or not the NFA agrees with Oanda's position. But Oanda's postion is clear: We control the levers that determine in these cases that we win and you lose and you must accept our decrees, NFA regs be damned. My first week with Oanda, everything was fine. I had minimal negative slippage on my entry orders, and my stop losses and limits were always filled to the pippette. This week I did not trade as often as last week, but every order I had filled had negative slippage - pips and pips worth of cumulative scalps against my capital. The delay between the quotes hitting my stops and limits and my orders getting filled seems to indicate to me the activity of a dealing desk, and not an automated STP order matching system. This week I had a stop loss filled below the lowest bid (xxx.52, and I was stopped out with a fill 1.1 pips below that level at a time when the lowest bid according to Oanda's min/max data was 1.9 pips above my stop loss. Figure that one out! On FXCM's worst day I never had such an egregious stop out. Oanda's live help was no help at all, telling me that my fill was within the "margin of execution" or some such phrase (I should have taken a screen shot of the chat but I did not). Yesterday, I decided that I will trade currency futures only, and I withdrew my capital from Oanda. This means I will not be able to trade the Yen crosses as those futures have no liquidity. It means I will have to sit out certain trades because the risk per pip is too great. But I have never had any problem with my futures broker, I do not recall having seen such bizzarre spikes on Globex, and my experience has been only occassional minimal slippage, and that slippage is as likely to be positive slippage as it is to be negative, unlike Oanda, where slippage is always in Oanda's favor. I kept my FXCM account open, and should FXCM ever decide to come down off of their own precariously high horse and again allow American citizens the use of contigent stop loss and limit orders, I may go back. However, Oanda, did spoil me in this regard: I was able to place orders anywhere so long as it was mathmatically possible. I could place an entry order within pippettes of the market. FXCM only accepts orders if the order is 5 pips or more away from the market. Talk about an unfair advantage! Maybe I will just stick to futures.