Oanda - Add Your SCAM SCREENS Here

Discussion in 'Forex Brokers' started by forestgril, May 4, 2008.

  1. this is my screen, now I checked:

    http://www.fxstreet.com/rates-charts/live-charts/


    and they show the low, where my stop was, but metatrader shows it 20 minutes before

    but lets not forget, that showing the low 20 minutes later, would be better for most of the brokers, as they may have stopped out some traders then
     
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  2. Repetition of this thread

    Post Oanda's reply to the complaint you raise, they may reinstate the trade or cancel it off.

    How much was the trade for to make it worth Oanda hunting your stop?
     
  3. Got stopped out at the same time I entered a trade (within a minute, a few secs probably) their own chart did not even show the market traded at my stop, allowing for the spread it meant the spread had widened more than 5 pips. It happened before, bigger spread yet. You just have to avoid stops on economic releases .
     

  4. I've read somwhere on this forum, that when You want to complain to them, You have to refer to min/max charts.

    That is the only type of charts, that I use with them and, as You may see, they do not show the grey ribbon touching the price at stop then.

    The fact is, that 2 hours later, the 5sec, 10sec charts are already forgotten, and they can show what they want.

    But the data from the page with the link given by me shows the low, where my stop was, so I thought: "maybe because my connection here (on little vacation) is very bad, my data feed from them was inaccurate". But You were also stopped there and the price seemed not to get there.

    Let me clarify: I am not sure, that it was a scam. I've tried to change the thread title to "It looks like a scam for me", but it was to late. Anyhow - it seems suspicious to me, especially because it was a important low and many stops were put there, I think. (I suppose, that it is a low for following weeks).

    Hunting the stops is a "good" way for a broker to make some additional money so I would rather accuse them at this point, especially because I saw something like this already. I will show You another screen (2 months ago or so)
     
  5. It was not worth a gaseous burp!

    But I think, that You understand, that I am not the only person using stops.
     
  6. This is the key, and probably the reason you got stopped. I've been stopped on the fut's like this after econ releases. The B/A can trade out of whack with the price when econ data is released and can stop you even tho the price doesn't trade there. The solution....scale into a trade when you're fading econ releases and don't use a physical stop. The trade off....you gotta endure some drawdown. Nature of the Biz -- choose your poison.

     
  7. cstfx

    cstfx

    Why are you still using Oanda if they are costing you money? You have been pissing and moaning about them since the beginning of March with their executions and phantom prices, etc.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=120570

    Why do you still use them? Why have you not found a "better" broker for your trading style rather than stay with the same group that causes you such fits? If you come back here next month at NFP with the same complaints than you have no one to blame but yourself. It only takes a week (at most) to set up an account somewhere else!
     
  8. No shit!!

    The first time you get a bucket-shop type fill, you head for the exits... don't you?

    Amazing that Oanda can give you a bucket shop fill and then ask you to jump through hoops to get the trade unwound when you point out that they filled you in a non-existent market.

    Even more amazing that people willingly start jumping.
     
  9. Nothing wrong with Oanda across data like NFP, this was last week's and this was last months, rock solid platform and near perfect fills.

    If forestgril raised a ticket (which is a simple and straightforward process) then Oanda would sort it out.
     

  10. Thanks for advice. I'm a noob and trade with little money so till recently I have sometimes forgotten to check, when the info was released!

    Anyway - the second stop I have shown, has nothing to do with economic data. The stop there has no reason . I know that sometimes the price shown on my chart may be a little late comparing to market data and I have been stopped several times appareantly without reason, to find out 5-10 seconds later, that indeed the price got, where my stop was.

    In this case (second screen), although I have no proof now, I remember, that I should be stopped about 2 minutes later, so it was a strange "mistake".

    Some of You may ask: "Why he does encounter such things and I stil haven't?" Maybe because it is nothing, just some coincidences. The other answer is that I used to made 150-300 transactions a day, so I watched the charts all the time, all the day long, and IF it happens more often, I had more opportunities to see that, because I was entering so many trades.

    Just keep in mind, that if a broker makes it 2 times a day on every or most of the pairs, some of the stopped out may not notice it, the ones, who are not in trades or have stops further will not notice it, but the amount of money taken by a bucketshop will be higher comparing to only profiting on the spread.

    I have a question: what is B/A?
     
    #10     May 4, 2008