OANDA shutting down on news

Well OANDA is broken, it's over. It's become worthless for traders.
Same shenanigans on the NFP release today. They must be doing it to take money from all the euro shorts. OANDA was a decent firm, but no longer apparently. I had a small short position in Euro and of course could not reverse it. I am considering closing my account .
 
Quote from trade2live:

Well OANDA is broken, it's over. It's become worthless for traders.
Same shenanigans on the NFP release today. They must be doing it to take money from all the euro shorts. OANDA was a decent firm, but no longer apparently. I had a small short position in Euro and of course could not reverse it. I am considering closing my account .
More...

The FX market in all it's forms reflects liquidity available.
That said, i was filled both sides on NFP release trading CME Futs.
Unless you can afford to trade InterBank, I don't understand why traders do not trade Futures.
 
Quote from TRS:

The FX market in all it's forms reflects liquidity available.
That said, i was filled both sides on NFP release trading CME Futs.
Unless you can afford to trade InterBank, I don't understand why traders do not trade Futures.
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6E? The mini is illiquid as hell. I think this guy's a little smaller
 
What you need to know about OANDA is that they 'flash-widen' their spread whenever there is a news event. Generally this only lasts for 45 seconds or so, but sometimes it's considerably longer.

What's important is understanding the consequences of this.

Firstly it will take out any S/L's that are too close.

Secondly, it all but prohibits placing 'break-out' limit orders either side of the price, because both sides risk being triggered without any genuine movement in the underlying pair.

OANDA is OK if you are a contrarian and always buy when things are going down, and sell when thing are going up. However scalpers, break-out and trend traders get killed.

~chaffcombe
www.futurestech.com.au
 
Quote from chaffcombe:



OANDA is OK if you are a contrarian and always buy when things are going down, and sell when thing are going up.

~chaffcombe
www.futurestech.com.au
More...

Exactly. You help balance their book.
Imagine trying to scalp with OANDA

Futures or InterBank if you are a trader.
 
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