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One Trade Review Scores


Overall Score: 3.2 / 5

Total Votes: 24
Platform
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One Trade Discussion

justradik
Sep 01 2015 at 12:08
8 posts
onetrade posted:
Hi,

We do appreciate the client's concern here and are open to being transparent.

As a 100% STP (Agency model) broker we gain no benefit if clients lose money with us. So we always make sure our client have the best service, spread and market execution.

To enhance our liquidity depth even further, we were in the process of changing/adding over some liquidity providers and pools last night during the time of the FX rollover, which resulted in a trade requested by the client being executed at this level based due to technical problem.  We were aware of this issue immediately and acted quickly to make sure the systems were back to normal in less than 2 minutes. The account was compensated 100% for the loss taken and has been reverted to the same state it was in before the switch issue occurred.

Regards,
The OneTrade Team

Thank you for the quick fix!
I can confirm I have received 100% compensation.

EthicalTradingFX (EthicalTradingFX)
Sep 01 2015 at 12:38
14 posts
I can assure you that, on the rare occasions that I have had problems of this kind, One Trade has always resolved everything and refunded in no time.
It is an excellent and reliable broker!

pedroroberto
Sep 10 2015 at 10:59
20 posts
My first impression is not good. I have opened an Euro account with them. Then I have made a deposit of 1000 euros via wire transfer. They have 3 bank accounts one for each currency, but that is not very clear on their site and on the bank details there is no mention to what kind of currency is that account related to. So, I have made my wire transfer by mistake to one bank account that is supposed attached to USD instead to EUR. Result is that they have take me 30 Euros, and the excuse is that I have made a deposit on an USD account instead of a Euro account. Kind of confusing, because if my account with them is on Euros, then their USD bank account shouldn't appear when I request their bank details. And ok, I have made that mistake and now they have to transfer from their bank account in USD to my account in Euros, why charge 30 Euros for that? Note that all of their bank accounts are on the same bank and location (UK).

pedroroberto
Sep 10 2015 at 11:40
20 posts
They have on their site 2 options to make the wire transfer on is called 'Add funds' and the other 'Bank details'. If you choose the first, you will be alright because you have to choose the transfer currency and they send you an email with the right bank details.
But you choose the second option, 'Bank details', to make the wire transfer be aware that like me you could be ripped of 30 euros. if you make the probable mistake of not choosing the correct currency. I say probable because by default it appears not your account currency, but USD.
Why the hell there is 2 options to do the same stuff, one safe and other with a penalty of 30 Euros?😡

gigabrainy
Sep 10 2015 at 14:41
3 posts
pedroroberto posted:
My first impression is not good. I have opened an Euro account with them. Then I have made a deposit of 1000 euros via wire transfer. They have 3 bank accounts one for each currency, but that is not very clear on their site and on the bank details there is no mention to what kind of currency is that account related to. So, I have made my wire transfer by mistake to one bank account that is supposed attached to USD instead to EUR. Result is that they have take me 30 Euros, and the excuse is that I have made a deposit on an USD account instead of a Euro account. Kind of confusing, because if my account with them is on Euros, then their USD bank account shouldn't appear when I request their bank details. And ok, I have made that mistake and now they have to transfer from their bank account in USD to my account in Euros, why charge 30 Euros for that? Note that all of their bank accounts are on the same bank and location (UK).


I think that is 100% normal have some charge of 'exchange' when sending Eur to Usd account. Some banks will take even more money for this kind of exchange transaction. You was lucky.
The point is that money must be sent to the right destination account... if destination has different currency... the mistake is not imputable to the Broker. The next time keep more attention... I think that maybe this is the first time you fund a Forex account.

pedroroberto
Sep 10 2015 at 16:06
20 posts
gigabrainy posted:
I think that is 100% normal have some charge of 'exchange' when sending Eur to Usd account. Some banks will take even more money for this kind of exchange transaction. You was lucky.
The point is that money must be sent to the right destination account... if destination has different currency... the mistake is not imputable to the Broker. The next time keep more attention... I think that maybe this is the first time you fund a Forex account.


Gigabrainy,
Why do you think is my first time of funding an account? I am an active trader for more than 7 years, currently I have several active real accounts on 6 other different brokers, I have already made maybe more than 50 deposits/withdrawals via wire transfer. I prefer to choose brokers in Europe to avoid exchange rates and always use only Euros on account opening and transactions.
The fact is that their site leads to confusion and mistake, and that is, in my opinion, imputable to the broker. If you have a real account with them choose 'Bank details' on your account panel. There is an option to print, just print and check to see if there is any mention to what currency is that bank account.

gigabrainy
Sep 10 2015 at 16:48
3 posts
Yes, I have real account with OneTrade. If I choose 'banck details' I have a window where I can select the currency... USD / EUR / GBP. So which is the issue? If you don't select the right currency... of course you will send money to the wrong bank!!


pedroroberto
Sep 10 2015 at 17:08
20 posts
gigabrainy posted:
Yes, I have real account with OneTrade. If I choose 'banck details' I have a window where I can select the currency... USD / EUR / GBP. So which is the issue? If you don't select the right currency... of course you will send money to the wrong bank!!


Is not the wrong bank, is exactly the same bank in the same address but with a different account.
Have you printed??? Is any mention of the currency on the print?
Can you see on the left side the add funds option that gives you exactly the same result? Why two options?
Enough for me on this discussion, and my advise is pay strictly attention before make a wire transfer on this site.

stefanr
Oct 29 2015 at 07:03
2 posts
I have done a lot of research and tried a lot of different brokers in UK.
OneTrade has the highest liquidity and the best execution of them all.
They have very low spreads and low commisssion which will vary depending on your trading volume (more trading volume = less commission). Also customer service seems very qualified and kind compared to some of the other brokers I have tried.

StefanFX
Nov 24 2015 at 15:17
2 posts
OneTrade is a scammer! They steal my money. I traded for a few weeks, then they cancel most of my swaps.
They wrote me:'I am writing to notify you that the amount of swap credited to your account 1370, for open positions in TRYJPY has been adjusted.

This because the swap rate for the TRJPY currency had, unfortunately, been entered incorrectly in our system, meaning you were receiving a much larger daily swap amount than you should have.

This problem has now been rectified, which has unfortunately meant that the amount of swap you will see for open positions is much smaller than before.'

If I make a mistake, then it's my problem. See review of pedroroberto. But if OneTrade make a mistake, they steal the money from Clients.
OneTrade make the conditions, I trade this conditions. One Trade is a big scammer. They can steal your money , whereever they want. Stay away!!!

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