I got SERIOUSLY robbed by Oanda

[Jayford]

you folks do understand that non commish fx firms make their money trading against you, ya?

Go to a commission merchant! the tighter spreads alone will make up for the commission, and they will always fill you. Oanda fills you only if they wish to. there is an unbelievable number of complaints about them.

try hotspot, or even IB. it is in their interest to give you the best price and narrowest prices possible.

Better yet, don't trade fx at all. trade the currency futures. Limited to just a few really liquid pairs but you don't have the roll interest BS to deal with, and they are fully backed by the NFA and CFTC.

 

[bugscoe]

Quote from Jayford:

Oanda fills you only if they wish to. there is an unbelievable number of complaints about them.

This is just not true. I make about 100+ trades/transactions (all market orders) everyday without any issues. My fills are instant.

People like to confuse platform issues with manipulation.

 

[cabletrader]

Quote from Nashequilibrium:

Lol, after reading some of the recent posts on the oanda message board, it seems as though it is the wild wild west out there! Have they really sunk below FXCM?

lol, they have certainly dropped a few points in the popularity stakes.

I'm actually beginning to think that the whole (forex) market is completely fucked up, everyone is scrambling to make a few bucks and trying not lose any money....any way they can and screw everyone else!

It's every man for himself, all we need to do is adapt to compensate for these 'problems' and if it is intentional manipulation then beat them at their own game.....don't get mad - get even

 

[Nashequilibrium]

Quote from cabletrader:

lol, they have certainly dropped a few points in the popularity stakes.

I'm actually beginning to think that the whole (forex) market is completely fucked up, everyone is scrambling to make a few bucks and trying not lose any money....any way they can and screw everyone else!

It's every man for himself, all we need to do is adapt to compensate for these 'problems' and if it is intentional manipulation then beat them at their own game.....don't get mad - get even

When the dealer began to shuffle the deck after every hand Edward Thorpe got up, took his money and left. If you can't calculate your edge, get out, simple.

 

[cabletrader]

Quote from Nashequilibrium:

When the dealer began to shuffle the deck after every hand Edward Thorpe got up, took his money and left. If you can't calculate your edge, get out, simple.

I agree, but why get up and leave, why not adjust and adapt to compensate for the dealers tricks, it's far more satisfying to beat a crooked dealer than an honest one

I think most traders agree that trading is just about the most boring occupation on the planet, so when challenges like quote and platform manipulation come along it gives us the opportunity to pit our wits and get creative....it's what fired us up when we started out and it was fun!

Bring it on Oanda, let the best man win

 

[Nashequilibrium]

Quote from cabletrader:

I agree, but why get up and leave, why not adjust and adapt to compensate for the dealers tricks, it's far more satisfying to beat a crooked dealer than an honest one

I think most traders agree that trading is just about the most boring occupation on the planet, so when a challenges like quote and platform manipulation come along it gives us the opportunity to pit our wits and get creative....it's what fired us up when we started out and it was fun!

Bring it on Oanda, let the best man win

good luck.............my advice to less ambitious traders would be to weigh the the cost of money lost on platform, order execution and spread widening issues against moving to a more expensive broker who solves all those other problems.

 

[cabletrader]

Quote from Nashequilibrium:

good luck.............my advice to less ambitious traders would be to weigh the the cost of money lost on platform, order execution and spread widening issues against moving to a more expensive broker who solves all those other problems.

But is the grass greener at another table in the same casino, or is the retail market in such a state of mayhem that problems will exist pretty much everywhere?

Don't forget brokers have to make a living too, they're not a charity and we can't expect them to willingly pay out winnings from their own pocket, hence all the 'problems' being experienced.

Bucketshops are having the worst ride I expect, just have a look at an intraday chart (most bucketshop clients trade intraday) and see that long or short it would be hard for a punter to lose money without a helping hand

 

[Ivanovich]

I was going to change the title of this thread to:

"I got SERIOUSLY robbed by Obama"

but I figured it was too early in his administration to post that.

 

[cabletrader]

lol, I was going to say you ain't seen nothing yet!

 

[da-net]

fwiw..

the things you are discussing is happening on lots of platforms & brokers...freezes, lockouts, disconnects, etc....the brokers are having just as rough of time as we are trying to keep up with risk control...something that i have noticed only a very few times over several years of trading spot fx is inverted spreads (bid higher than ask). but lately i have seen this happen many times and it lasts for about 15 seconds...

plus spreads widening to absurd levels for no reason during non fundamental event times

just recieved a platform email alert on new trading rules...jpg attached...very interesting changes...they are trying to control their risk