Oanda Ripoff prices

Discussion in 'Forex Trading' started by Kicking, Oct 24, 2008.

  1. When does Oanda start widenng spreads on Friday afternoon ?
    It used to be after 4 pm, I entered a bunch of market orders at 3:50 and the spreads were 15 pips wide !!
  2. Ever though about checking the spreads before you 'enter a bunch of marketorders'?
  3. yeah that was dumb but spreads are supposed to be fixed and I thought the cutoff time was 4pm . I also have the quotelist on , not the quote panel which makes it easier to read quotes but takes up to much space.
  4. I think u should realise that at the current volatility levels, 15 point spread is very competitive on average u usually get a 3pip spread for a volatility level of about 30 points intraday
  5. dewton


    The spreads at MB Trading were a lot lower this morning than at Oanda. EUR/GBP was 10 pips in oanda, but I saw 2-4 pips at MB Trading.
  6. Yeah but that's like marrying a retarded girl just because she gives good head.

    Stay the fuck away from MB dude. Oanda has it's quirks from time to time, but they are about the best you could hope for as far as FX brokers go.
  7. 3:45pm EST every Friday the spreads go to the weekend rates. Nothing new here.

    However I see this weekend, the spreads are a little wider than normal. Not shocking given the day we had...who knows what Monday will bring to the markets.
  8. Lucky


    Heh, you think you're pissed, check the recent spreads on USD/CNY. I opened a trade when they were 60 (I think Oanda was claiming 25 was normal at the time), I haven't seen it below 500 recently, was 700 all yesterday, and weekend spread is 800 points.

    They say spreads only widen during news events, but IIRC in their forums they also state they widen them during "market events" without really letting you know when / what a market event is. I think every day last month has been a "market event" by their standards. They used to have a page on their website that showed the current spread and an asterisk next to it if there was a "market event" taking place. It's been replace with this http://fxtrade.oanda.com/forex_trading/why_trade_with_oanda/spreads/recent_oanda_spreads.shtml which shows a chart of the spread over the last few days.

    Hardly matters though with the bugs in their platform and constant server overload, you really can't trade with them anyway.
  9. I am not talking about Oanda or MBT in particular but amazed how tight spreads were yesterday.

    I've been trading 20 years and that was the maddest day, more volatile then even when sterling devalued in 1992.

    Amazed any platform with any broker had prices quoted, I would not want to.
    #10     Oct 25, 2008