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Oanda Review Scores


Overall score: 3.7 / 5

Total votes: 466
Platform
1
Pricing
1
Customer service
1
Features
1
1 - worst 5 - best

Oanda Discussion

S3BA5T13N (S3BA5T13N)
Dec 25 2013 at 07:15
2 posts
My gonna count you a story of my Oanda experience

I got a full funded Oanda account for nearly 2 year now, no trouble for the first year , this year has been a kind of calamity not only trading.... but service side , software side to.

I call Oanda many time (when i use to live in UK) they always answered my call and always go someone helpful, but not customer service, usually a sell representative who try to sort the shit out.

Withdraw has have been difficult, especially if you are like me living on multiple country (France, UK, Philippines) , Oanda is very rigid regarding money withdraw if you found our account with Paypal you have to withdraw with paypal first !! You can't transfer on account you haven't founded money with event if its your name on it. Funny don you think?

Customer service, (the one you email only) Use to be very efficient, but really less recently, just by ignoring my question, or giving me information I know all ready, just clearly pissing around with me.

Quality of execution use to be quiet OK (not great)when I'm in UK, now is very slow( maybe my expectation are too high) Now living in Philippines, I still get connected to a UK dealing server( aberration Oanda SG ,ASIA, will be certainly faster), the customer service, tell me i gonna be connected on the same server(doubtful)

Spread is areal bitch, with peaks of 56 on USDJPY last January made me rethink how I was seeing Oanda.


Other service associated with the Oanda broker, the statistic data are helpful, the news service to, now offering pattern recognition, well.

If tomorrow do i will go again to Oanda brokerage service : NO, i'm looking for better alternative regarding my geographic situation, and to get a better execution

From £241.30==== > £10,000
perenoel
Apr 14 2014 at 10:46
7 posts
After 6 years with oanda, it's come more and more worst

The negative swap (france 40) go up by 3 times on 11 april 2014 and 5 times from 12 april to 14 april 2014.





stevenross
May 17 2014 at 07:26
6 posts
Very good broker, they pay me money that i win with my scalping EA.

robertstahl12
May 18 2014 at 06:34
15 posts
I need hedge!! if not, this broker its ok for trade.

AndyQuant
Jun 04 2014 at 15:04
23 posts
robertstahl12 posted:
I need hedge!! if not, this broker its ok for trade.

I hedge with them with subaccounts, its a pain to keep the balance right, its not worth it. There are plenty of good brokers that allow hedging.

fxtwits (fxtwits)
Sep 04 2014 at 06:28
9 posts
We rate Oanda as follows:

Platform - 5
Now with MT available, Oanda certainly deserves a 5, on top of the fxtrade tht we personally prefer. Might not be the best tool for analysis but fxtrade is superb for execution because it calcullates all risk/reward/margin/P&L parameters for you. This certainly is a plus and helps reduce time consumption in trade execution and management.

Customer Service - 4
We spoke to CS once, they are responsive and helpful when we lost our mobile phone number for 2 factor authentication. Yes, Oanda SG at least, use two factor authentication to log in to your profile account on the website. We give 4 because we are sure there are always room for improvement in Human Performance.

Pricing - 5
As far as spread is concerned, we are yet to see better competitors as there is no minimum spread to market rate to place your pending order. In other words, if current offer on Euro is 1.32151, u can place a buy limit @ 1.32150, a mere 0.1 pips difference. Try that with other brokers if you can. Yes, there might be spike and that is understandable as they are market makers who make their own market price.

Features - 5
We simply like the Autochartis & News in the fxtrade. The news are superb for retail traders with analysis and even trades recommendation from professional providers like IFR Markets.

This is our personal view based on our experiences using Oanda as our signal accounts and they might differ from your experiences.

Simply Profitable!
hillygriffioen
Oct 17 2014 at 10:31
4 posts
Best broker for FX in USA for me, but the leverage in Gold is only 1, thats why i preffer use other brokers in other countrys.

fxtwits (fxtwits)
Oct 24 2014 at 08:01
9 posts
Our feedback as of Oct 23, 2014:

Our stop on buy order recently was triggered though the bid rate did not even go to that level. It was kiwi/swiss on Oct 3, 2014 triggered at 7490. We contacted customer service for explanation and apparently we need to be aware of the low bid and high ask rate/price to place our stop. Below are the explanation:

"For your reference:
- A buy order is filled at the ask price. The take profit will be triggered at the high bid and the stop loss at the low bid price
- A sell order is filled at the bid price. The take profit will be triggered at the low ask and the stop loss at the high ask price"

Our personal rating for Oanda remains.
Thank you.

Simply Profitable!
tommes (tommes)
Oct 28 2014 at 19:21
10 posts
To get the money back is not so easy us it should - first the credit card is not right - than bank wire is to confirm from bank - than no answer after confirmation from bank - so we await up to two weeks to move money back - guys working on there fat chairs stole us time - noting else .. Our impression is that some manager sleeping on there results and there is a lot what can improved - swaps comes not us they should to account .. anyway .. let us make a break and wait for better weather ..

mrtodd
Nov 05 2014 at 07:51
121 posts
Horrible experience. They don't pay out their swap rates properly. If you don't care about a company stealing your money then go ahead and trade with them. To me, those rates add up and are all figured into my trading. I will never trade with them again.

You've gotta be in it to win it.
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