Oanda - Add Your SCAM SCREENS Here

And by the way, for anyone thinking he individually got stopped because Oanda spiked the price on his trade only, or that Oanda applies slippage to his account only for whatever reason, here is a suggestion: go to this URL:

http://fxlabs.oanda.com/cgi/fxlabs.pl?id=2

and see if your executions are the same. These are the prices every Oanda customer should be executed at, regardless of size (from 1 to 10 mio. units) or any other (imaginary) factors.
 
Very interesting.

Here are some clips of June's NFP, the first one is just before release and a couple of minutes after, the second clip is around the time of your screenshot.

The quotes are from CMC top left, IBFX bottom left, and Oanda on the right. All are live, full-size accounts. The times are EST+5 (BST) and indicate the time of the quote. The narration is from Bloomberg via the Hotbird Satellite (the fastest I've found for data release as you'll see from the time they announce the numbers!)

You can of course pause the videos at the desired time to compare quotes.

Please feel free to copy the links and post them elsewhere.

For the clearer, full-size videos:
1) 6.69mb - http://www.mediafire.com/?ojdjax0dmxm
2) 1.85mb - http://www.mediafire.com/?dz21xxsxjjm


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<object width="425" height="350"> <param name="movie" value="http://www.youtube.com/v/aN9K4WRq6Sk"> </param> <embed src="http://www.youtube.com/v/aN9K4WRq6Sk" type="application/x-shockwave-flash" width="425" height="350"> </embed> </object>
 
And a screen shot...there's some weird shit going on over there at Oanda and it ain't good :eek:

Any more crap like last week and I'm outta there, along with my clients, they can stick their FX Manager where the sun don't shine! It takes less than 48 hours to open an account nowadays and a couple of days to tx funds, marketmaking is a competitive business and there's no need to put up with dishonest ones. Sure, a couple of pips here and there but 40 pips is taking the piss! Look at Cable and a couple of others, they're way off as well, 40 and 50 pips!!

Kind Regards

Mr Angry

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Quote from Ivanovich:

Why not just exploit it?
More...

Good idea in theory but I don't think it would be possible, the spike lasted less than 10 seconds and I doubt they were executable prices for market orders. If it's a regular thing then maybe writing a program would be worthwhile, but even if they did fill orders at the quoted price they would probably reverse the (profitable) trades later anyway.

Oanda are going to rapidly lose market share if they carry on like this, people object to being stabbed in the back by a company claiming they are the trader's friend and offer a level playing field!
 
Quote from cabletrader:

Good idea in theory but I don't think it would be possible, the spike lasted less than 10 seconds and I doubt they were executable prices for market orders. If it's a regular thing then maybe writing a program would be worthwhile, but even if they did fill orders at the quoted price they would probably reverse the (profitable) trades later anyway.

Oanda are going to rapidly lose market share if they carry on like this, people object to being stabbed in the back by a company claiming they are the trader's friend and offer a level playing field!
More...

It lasted for 10 seconds, and i thought of clicking that price only afterwards. 10 secs is a short time for double checking this against other brokers. I doubt they are doing this on purpose to hunt stops or something like this, they put their price history out in the open for everyone to inspect after all. I also had trades reversed that went against me (as well as trades that were in my favour), so i do believe that Oanda is agnostic in this regard.

The prices on FxCompare are executable prices, every single execution i had checks out against it. So it should be possible for people with fast fingers (and with setting bounds). Unfortunatly, this is the only 'free money' situation i ever experienced with Oanda, so i doubt its worth it to set up a bot.
 
To the OP:

I had Oanda take out a stop below the Metatrader low by 12 pips before. I wrote a strongly worded email complaining and they never replied.

I had other instances when Oanda takes out a stop to the pip and then reverses that is about 3-5 pips from what Metatrader shows on the EURUSD and when I ask live help about it, they say I cannot go with Metatrader's price for the execution of trades on Oanda.
 
Quote from Pippi436:

It lasted for 10 seconds, and i thought of clicking that price only afterwards. 10 secs is a short time for double checking this against other brokers. I doubt they are doing this on purpose to hunt stops or something like this, they put their price history out in the open for everyone to inspect after all. I also had trades reversed that went against me (as well as trades that were in my favour), so i do believe that Oanda is agnostic in this regard.

The prices on FxCompare are executable prices, every single execution i had checks out against it. So it should be possible for people with fast fingers (and with setting bounds). Unfortunatly, this is the only 'free money' situation i ever experienced with Oanda, so i doubt its worth it to set up a bot.
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That's all fine and dandy but why the massive discrepancies between Oanda's price feed and quotes and every other marketmaker, and in fact the market itself?

A while ago I had a Gbp/Usd stop triggered when spread was widened to 200 pips by mistake, Oanda admitted they entered an extra zero in error, it should have been 20. The stop was reversed and the trade re-opened at the original price but that was nearly 2 days later and the market had obviously moved which in that instance made the trade a loss. What they failed to reverse were all the margin calls and liquidated trades on other pairs which some people had suffered. Sure you could argue that if they were margin called they were overleveraged but that's not the point.

It raises two questions. They claim everything is automated and that they don't intervene or manipulate price yet they set spreads manually, why?. They quote way off-market, why? Their quotes are very slow to update compared to other feeds, why?

The other negatives are their spreads during one of the most liquid times, the early European session. Cable is 4, Eur/Usd 2, neither are competitive. Their quoted spread on Eur/Usd of .9 is never available due to slippage in and out of a trade, in reality the spread is 2 at best, sometimes more.

These are just examples, there are dozens of complaints about slippage, off-market quotes, disconnections, latency, triggered stops, missed targets.....

Trading presents enough challenges on it's own without having to watch your back because of the marketmaker's underhand tricks.
 
I dont think those are underhanded tricks, but it doesnt really matter if its tricks or just malfunctions, the outcome would be the same eitherway.

If you have this many problems, there is no choice in moving on. I personally do most trades still with Oanda (got a Hotspot account too, but Oanda is most of the time the better deal - without commssion discounts from Hotspot, for which i dont qualify). Apparently i have been lucky (most of the times anyways).
 
I think it's very difficult trading intraday via forex shops as they MAY say that chart is just indicative & even though it doesn't show a level being touched it doesn't mean that price hasn't actually been there or they may widen the spread when it suits them to hit stops. ImPO if you wish to avoid the above then your targets and stops have to be based on further away support & resistance zones.
 
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