Liar! Even tough I am against retail forex trading for the reasons I mentioned in various threads, Oanda is one of the best. What you just said is a lie. The spread does go up when news come out and then within minutes it goes back to normal.
Redduke, Because he is lying about the spread staying 15 pips all day, he is probably just a competitor. Oanda is funded by a group of academics and yes they have ethics unlike all the other bucketshops And if you are not a competitor,I suggest you buy some new glasses then you will see that the spread returns to 1.5 pips after a few minutes.
Nick Barings - you are the straight shooting, no BS dude of this forum. Love your posts... thanks for all the insight.
Aussie Fxtrader, Thank you , mister Down Under ! You are the second one who makes a similar comment. My motto is "IN THE NAME OF TRUTH, I am willing to die" I am a little exaggerating, I guess
again not a competitor- Do competitors say shut up cocksucker? anyway I wanted to stay with oanda. The company was fine, support, but charting could be better but that is what everyone thinks. Off the topic, the spreads would be out 15 pips for most of the day when a "news" event would come out- this is the forex calender I was using; http://www.forexfactory.com/index.php?page=calendar for example an event would be announced at say 10est and the spreads would stay huge for hours after with no other events that were listed on the calender. I left in septemberish- and that is the way it was then, I cannot speak for them now. At the time they said they were having problems with their software, I am not sure what that has to do with it. but I will throw a couple hundred at them and open another account to see for my self if it has changed. but anyway thanks for the heads up on meta and merry christmas.
Arrogance and vulgarity seem to relate to ignorant newbies Probably the markets will change your attitude, good luck.
Hi peoples, This is my first post here, and I am in no way affiliated with any of these brokers. However, I would like to say a few things about my experience on Oanda. I rely on them for news trading. Period. Nowhere can I get instant execution and exits. I disagree that spreads stay high "for the rest of day" and such a comment makes me wonder if this person has EVER traded with Oanda. However, there are shortcomings. Oanda's price feed is sometimes off by 2-3 pips. Also, they *do* have a dealing desk, and although I don't believe they manipulate accounts, they do manipulate their clients' platforms by disconnecting them and what not. Don't believe me? I have the video: http://www.gigafiles.co.uk/files/878/Other_News/121906_NZD_Current_Account.avi (note that it is encoded in XVID and should play in Windows Media Player -- if not then you need ffdshow, which plays just about everything) This was the New Zealand Current Accounts this week. In this video, you actually see the spike for a second, but that is because I am recording at 1 frame/sec and there is a one second lag or ghost image. In reality, right when the news spike hit, in the flash of an eye, I was disconnected. Since this has happened to me before, I have damage-control procedures in place to exit my trades if I happen to have entered and get disconnected (like this video). In any case, things have mitigated once I started doing a few things to keep me off of Oanda's radar, which I will be keeping to myself (sorry, but I've seen way too many people risk their livelihoods by sharing on forums to have it blow up in their faces). I'm not sure how long it is before they'll catch on, but for now, they're still excellent for news trading -- much better than any retail broker and definitely better than ECNs for news (with ECNs, you won't get a matched price during news time and will almost always be slipped 25-30 pips -- it makes Oanda's spreads seem rather reasonable). You just have to be aware of some caveats. If you frequently get disconnects, I suggest to always trade with a stoploss or keep track of all your trades and theorize for yourself what criteria they have before manipulating your platform. From my experience, I believe they do have a criteria, and I believe it's tied to profit/losses in pips and not in dollar amounts. Good luck everyone, and happy holidays!
Hi guys, I just started looking into Forex and testing out different brokers. Is Metatrader still only to rip people off? So far it seems to be... I sometimes run ForexTrader (from Forex.com) and Metatrader (via ODL Securities) and the difference in the speed of the tick is immense. So this guy calls me from ODL and I write back to him stating exactly that, that there seems to be a delay compared to other providers. Guess what? Never heard from the guy again... So, please, if anyone can suggest an good provider for Metatrader I would really appreciate it as I enjoy the platform. Thanks in advance!