Oanda bizarre order handling...

[Scalperboy285]

Hey everyone. I am trying to figure out how to place certain orders with Oanda......

I want to be able to place a limit order to sell and have the order handled the way that IB does or all other brokers I am aware of...

Let me give you an example...... Lets say the bid on the nasdaq is 4405 and I want to sell at 4400. Lets also say the market is extremely slow mid afternoon....With IB or any other broker I am aware of if I try to sell at 4400 the order is basically placed to fill me at 4400 or BETTER.... So in this instance since the market is so slow I will immediately get filled at 4405 which is great it is exactly like I want.......

However with Oanda they handle the order way different......If I try to sell at 4400, they will not fill me until the order gets to that price, so even if takes 2 hours or even more they will just hold the order forever until it gets to that price.....I don't want the order handled like that, I want it handled like it is at IB and every other broker I want it to be send as a fill immediately at 4400 or better.....I want price improvement and I don't want to wait 2 hours for a fill.....

Thanks for any replies, please help...

 

[Tavurth]

However with Oanda they handle the order way different......If I try to sell at 4400, they will not fill me until the order gets to that price, so even if takes 2 hours or even more they will just hold the order forever until it gets to that price.....

If it's at 4405, can't you just place a market order and specify the maximum slippage? You'll not get filled better than 4405 but unless the market suddenly drops you'll get an immediate fill.

http://developer.oanda.com/rest-live/orders/#createNewOrder

lowerBound: Optional The minimum execution price.
upperBound: Optional The maximum execution price.

 

[syswizard]

They are obviously treating your order as a STOP order, not a LIMIT order.
Sell stops are when order price is below market and vise-versa for buy stops.
It appears you did not specify the correct order type.