Quote from Rickshaw Man:
Has anyone using Oanda ever had a stop hit but the price never came close to the stop?
Do you mean "Oanda's price" or "price as displayed elsewhere -- interbank feed, other forex platforms"?
If you mean "Oanda's price", I don't think even the most shady bucketshops, err, market makers, would be able to get away with triggering a stop when their own price didn't somehow manage to "get" over there first.
So, I believe -- and please correct me if I am wrong -- what you mean is "price as displayed elsewhere". If so, I have not personally seen any evidence of such activity on Oanda's (censorship-free) forums, when I looked for it closely.
In fact, the opposite seems to be true: Oanda is understood to
filter (slightly compress) some spikes / extreme price moves. For instance, on July 7th, the morning of the first London explosions, Euro and cable spiked big time in opposite directions, for quite some time... what a remarkable sight, to be watching live, in real time. The initial spike low for sterling was set at 5:19 am EST (to be exceeded half an hour later).
1.7372 on IB IDEALPro (a 4-bank ECN, no less), down ~145 pips from the pre-news level;
1.7418 on Oanda, down ~100 pips;
diff = 46 pips.
Of course, that was an extreme case. Oanda's spike filtering is typically no more than a couple of pips. That can work for you or against you on a given trade. For you, because your SL is less likely to be filled. Against you, because your TP is less likely to be filled. Over time and over many trades, it's been a wash, in my experience.
