Sincere opinion on Oanda
- Thread starter mr.az
- Start date
So why didn't he make money out of it?
What an amateurish nonsense.
Did he trade through one network meaning two accounts had access to Oanda through the same IP address? Makes you wonder why Oanda didn't recognize that. lol And why should your friend be the only one who recognized that. Don't you think there would be more of these observations? Why didn't he make screen captures or video recordings? Youtube, anyone?
Things that make you go
HMMMMmmmmm from what stupid competitor are you from?
There is a thread at Oanda regarding this garbage
http://fxtrade.oanda.com/community/fxmessage/ultimatebb.cgi?ubb=get_topic;f=17;t=005406;p=1#000009
http://fxtrade.oanda.com/community/fxmessage/ultimatebb.cgi?ubb=get_topic;f=17;t=005406;p=1#000009
Ok Mr. Oanda hear is why. Oanda didn't hedge the position so they were at risk so market rose his price didn't. He exited the position at a lower price than current market price so now oanda can now fill my friend at a lower price and oanda gets to execute at the higher price and keep the difference.
You ask what competitor am I from??? Seriously? Mr. One poster, you really want to go there?
Oanda: Gathering Place for Retail Forex Investors
AUGUST 4, 2010, 2:01 PM ET
By Tiernan Ray
Interesting chat this afternoon with Michael Stumm, CEO of something Called Oanda, a private company based in New York that offers retail trading in the spot currency market.
Stumm, who has an academic background in operating system software and large computer systems science, got started in 1996 with a Web site that just listed currency exchange rates. After the DotBomb collapse, he realized there was no future in providing an info Web site, so he converted the business into a market maker in forex.
Retail forex is upward of 10% of the total foreign exchange market globally, which is the largest market for any kind of trading, at $4 trillion to $5 trillion, says Stumm.
You can trade for as little as a dollar and use PayPal to transfer funds, so the business serves as an alternative to CME (CME), ICE (ICE) or other exchanges that serve the institutional investor. Those firms focus mostly on currency derivatives, whereas Stumm and his team cater to interest solely in the spot market, no futures or swaps.
Why do folks do it?
Well, itâs another way for individual investors to pursue the risk trade. Volume of trades has been rising of late with the increased volatility in foreign exchange generally, which is good of Oanda. However, he also notes that with increased vol comes pain for some customers on the wrong side of the trade, which can cost Oanda client accounts.
The forex spot trade is most lively right now in Asia-Pacific, says Stumm, given the resurgence of the economy there. In other words, like most risk trades, business blooms when the economy is generally going well. (Oanda gets one third of its business from the U.S., the rest from all over the world.)
Regulation is an increasing concern, to be sure. The Commidities Futures Trading Commission is the general watchdog for Oanda, though it âfarms outâ the day-to-day oversight to the American Futures Association. Although the spot market isnât a derivatives market, Stumm says the new Dodd-Frank legislation still threatens greater strictures for his business and others. Heâs heard rumblings that regulators will try and fold the spot market into the derivatives market to expand their control over the industry.
Stumm has no plans for an IPO now, with $200 million in capital providing all the company needs for now. The firm got a $100 million venture round a few years ago, led by New Enterprise Associates. However, he does see a need down the road to add some impressive partners to take the operation into the institutional client base.
AUGUST 4, 2010, 2:01 PM ET
By Tiernan Ray
Interesting chat this afternoon with Michael Stumm, CEO of something Called Oanda, a private company based in New York that offers retail trading in the spot currency market.
Stumm, who has an academic background in operating system software and large computer systems science, got started in 1996 with a Web site that just listed currency exchange rates. After the DotBomb collapse, he realized there was no future in providing an info Web site, so he converted the business into a market maker in forex.
Retail forex is upward of 10% of the total foreign exchange market globally, which is the largest market for any kind of trading, at $4 trillion to $5 trillion, says Stumm.
You can trade for as little as a dollar and use PayPal to transfer funds, so the business serves as an alternative to CME (CME), ICE (ICE) or other exchanges that serve the institutional investor. Those firms focus mostly on currency derivatives, whereas Stumm and his team cater to interest solely in the spot market, no futures or swaps.
Why do folks do it?
Well, itâs another way for individual investors to pursue the risk trade. Volume of trades has been rising of late with the increased volatility in foreign exchange generally, which is good of Oanda. However, he also notes that with increased vol comes pain for some customers on the wrong side of the trade, which can cost Oanda client accounts.
The forex spot trade is most lively right now in Asia-Pacific, says Stumm, given the resurgence of the economy there. In other words, like most risk trades, business blooms when the economy is generally going well. (Oanda gets one third of its business from the U.S., the rest from all over the world.)
Regulation is an increasing concern, to be sure. The Commidities Futures Trading Commission is the general watchdog for Oanda, though it âfarms outâ the day-to-day oversight to the American Futures Association. Although the spot market isnât a derivatives market, Stumm says the new Dodd-Frank legislation still threatens greater strictures for his business and others. Heâs heard rumblings that regulators will try and fold the spot market into the derivatives market to expand their control over the industry.
Stumm has no plans for an IPO now, with $200 million in capital providing all the company needs for now. The firm got a $100 million venture round a few years ago, led by New Enterprise Associates. However, he does see a need down the road to add some impressive partners to take the operation into the institutional client base.