Oanda Review Scores
Oanda
www.oanda.com
Overall Score: 3.8 / 5
Total Votes: 374
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Oanda Discussion
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alexre

Member Since Jul 31, 2009  28 posts alexre Aug 05 2009 at 12:41
Excellent broker.

Been using them for over 3 years, without a glitch. They have superb customer service, and probably the best spreads for the private investor.

The only thing that's missing is a free and easy api, such as the metatrader 4 api.

If it moves up and down, and I can sell and buy it, I'll trade it!
Elkart

Member Since Aug 01, 2009  941 posts Elkart (Elkart) Aug 06 2009 at 14:54
They fall over every time there's a data release! The forum members we're moaning like the clappers just the other day.

Chang beer is evil.
forexlit

Member Since Sep 11, 2009  2 posts Tautvydas (forexlit) Sep 11 2009 at 18:43
I have been using oanda about 1 year and I don`t have any problems with them. You can choose units yourself, also they have changeble spreads (very nice) and simple, but very easy to use platform. So, very good feedback from me.

Learn from your mistakes, forget them and move forward.
pinball

Member Since Oct 24, 2009  159 posts Dennis Fantoni (pinball) Oct 26 2009 at 20:40
Probably the best place to grow up as a new forex trader. You can trade with a small account without paying fees and having to take large lots. Their API is fine, although at a steep 600usd a month fee for small accounts.
Customer service is very good, If they have a bad price somewhere triggering your stops and loosing you money, they will usually find out themselves and mail you that it's now corrected and you have your trades as if it didn't happen. Once i had an issue where a peculiar crash made my client do stupid trades. guy asked me what i though i'd lost due to the outage, i said well 150 euros or so (i had a small acct.) and they simply credited me those funds. even though my problem was of the sort 'i wanted to have sold, but the platform was fubar'. they go the extra mile to make clients happy.

also good because you can trade gold and silver.
also good because you get paid interest differentials on the two currencies comprising a position. (and those interest rates are advised). And sub accounts. And lots of exotic currencies. and as mentioned earlier - good spreds. Slippage can work your way too (you clck buy at 1.5, currency goes down before your order travels to oanda, you get executed at 1.498 - they don't pocket the difference)

realtime (several times a second) updating account windows with margin pct and NAV.

Free demo platform that works exactly as the real one.

support for money managers and managed accounts

Dennis

knowledge as well as smarts are needed to make money.
macdoug

Member Since Sep 20, 2009  15 posts macdoug Oct 30 2009 at 10:15
I have live experience with other very good brokers but Oanda is the top of the heap for me

one_fx

Member Since Sep 11, 2009  4 posts One Capital Fellowship (one_fx) Nov 14 2009 at 07:56
I've been trading with oanda since I was a rookie. That was three years ago, but I went broke not because of the broker, but I don;t know how to trade. But now, if anyone wants to open an account with oanda, I recommend it. This is due to its reputation, well funded broker and I think its safe. The problem is you cannot hedge and its NFA broker which always changes the rule. Sometimes the customer service are quite slow but overall, its ok.

kiveris

Member Since Sep 17, 2009  2 posts AK (kiveris) Dec 05 2009 at 20:47
One of the best brokers in the world :)

dgryder

Member Since Dec 06, 2009  7 posts dgryder Dec 06 2009 at 22:45
i have been using oanda for about 8 years and they are always evolving. they have the tools to help you become a successful trader. no minimum requirement to open account and you can set your margin. forget a demo acct go ahead and open a $5 account and trade to get the feel of trading real money. you may think that $5 isnt much but loosing a penny of your own $$ is better then loosing fake $$$ in a demo. study their tools in the fxlabs and utilize them. they have a great news service also. don't go trying to use every broker. use oanda and they tools that they provide and become a trader.

pinball

Member Since Oct 24, 2009  159 posts Dennis Fantoni (pinball) Dec 07 2009 at 09:24
i agree reg oanda news. Especially the FxNow! updates from 4cast ltd at oanda are world class educational wise, they are very good at describing what was the reason for things just happened, and what to look out for. It's my first news source to go to when markets do something i did not expect, and i wonder why. Stuff like this

'A good start to the week for model and futures names, who have made quite an aggressive push at downside stops on a number of the majors, as equity futures prices fell in tandem. Stops at 1.48 on EUR/USD didn't appear to have bothered the scorers much, but a quick glance at 1.4775 was enough to bring a buyer back into the marketplace. Not confirmed yet, but suspicions that an Asian sovereign name might be that buyer are widespread. C.F'

DJ market talk at oanda sometimes also have a few good points like this 'The dollar has pushed broadly higher in European trading, extending the gains it made Friday after a stronger-than-expected employment reading, pushing the euro under $1.48 for the first time in a month. Sterling is also lower, trading below $1.64. The buck is also higher against Canadian, Australian and New Zealand dollars. However, further gains against the yen are proving tough to make. Exporter selling in USD/JPY is offering a near-term barrier around Y90, where the dollar is now trading. (KJM)'

knowledge as well as smarts are needed to make money.
tig3r

Member Since Nov 04, 2009  1 posts Zbigniew (tig3r) Dec 21 2009 at 14:05 (edited Dec 21 2009 at 14:06 )
I have been using oanda for 4 months till they cancel my trade. They cancel my trade 2 hours after opening trade. I use Hedge position. One with profit was cancel, the secound with loss not.

I loose lot of money. I write to it, but they don't interesting of me.
I live it after those situation.

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Compare forex broker spreads in real time: Forex Broker Spreads
House Price Index (47 min)
EUR/JPY: struggles to get through 134 an...(4 min ago)
EURUSD 1.17593 GBPUSD 1.31741
USDJPY 113.987 USDCAD 1.26376
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.