24 reviews of OANDA are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
Always have problems with log-ins and connections. It’s either you are disconnected from the server or can’t receive SMS for TFA. I think they are doing it intentionally. When I close the Oanda platform my internet seems to working but when I open their platform again same problem again. This always happens especially during news events. You simply cannot trade during news events. I will switch to other broker.
Kept asking me for the same documentation after I had send it already. After the third time I pulled my funds. I do not recommend for Canadians
This broker just chased my stop loss this am. I crosschecked rates at other brokers chart. I wanted to give them the benefit if the doubt but this is geting fraudulent so I am pulling funds out.
Good broker. Great support. execution is fast. I'm glad with them, so far.
I like the platform which has an option to show you on the chart when important news will be released. You can size your position real tight.
I decided not to trade with them for now because it was really unfair to freeze trading during greece elections.
I have a long and prosperous relationship with Oanda and I still consider them as one of the best and most trustful market makers around. Especially ideal for beginners because of the user friendly platform and flexible position size (0.0001 lot I think). Its really simple and evident to open-close-and modify your trades, orders, SLs and TPs. They are improving as well adding new things to trade with besides currencies. There custumer support is class above, always been very friendly and resourceful.
Only disadvantage is the wide spreads during weekends, the relative low leverage and that due to their NFA membership they don't allow hedging. For the european division there is no FIFO rule. Some strategies might be affected by these factors.
I have been using Oanda for the past month after reading many positive reviews of their broker platform and services. The first technical problems I had were with their Java FXTrade platform which suffered from 'connection problems' during trying to close out a winning trade. The charting software FxTrade isnt the best I have used but they also offer MT4 for use. This gave me more problems. Trades would sometimes be executed straight away, others sometimes upto 15 second delays. Sometimes never. I had the last straw today when trying to trade around news time, their Java FXTrade 'lost connection' again only when in a winning trade. Upon logging back into my account the winning trades appeared to be losses removed from my account. I am sad to say the Oanda is the same as all the other bucket shop outfits out there, I was really hoping that they would be the broker I stick with, goodbye Oanda, I do not recommend Oanda to any trader.
They USED to be good. As of late they have deteriorated. In my opinion they have fallen out of the upper class of market maker brokers. Their spreads are almost never below 1.2 on EUR/USD and they have recently adjusted their interest payout/charges. As you can imagine, not in the traders favor. I recommend at this point to consider other brokers. There are several that are better right now.
I use to have problem with fx trade, Live chat wit the Customer service and solve the problem by clearing my Java cache,the only thing is that nowadays it is really hard to see the spread fall below 1 in EUR/USD.if ur lucky u can get 0.9.I use to think that they hunt for my SL (which I still do) just to make sure make sure u tun on the ask, average and bid price. The Spread can go crazy up to 10 pips during news.the execution for me is superb.But for it class (non ECN),I think Oanda is the best.Hope dis help.
The best MT4 broker - without requote , i make for 2 weeks ~100 % profit with scalping, laterr 90% loose :) and windraval 10 % profit :) for me paypal . chek me paypal latter 15 min and get me money . Nice supporrt and super fast money transaction.
Hello, I have experienced frequent service interruptions trading with Oanda for the past year. Also, I have experienced several price spikes and tripped stop losses. After numerous incidents I decided to look on the BBB web site to see if any complaints have been filed. A couple complaints have been filed
I've used oanda since may on a live account. at it took about two working days for my deposit to get on the account and when i need a withdrawal it to about three working days get appear on my bank account so far there reliable. They don't advertise like others broker they allow their service to do the work for them. i heard of them because of their low spreads and service Five stars from me although as i speak it's 8:30 on a Friday morning news has just been release and the server is down, I don't mind cause i let the market stew after news release any way
I have been trading with Oanda since July 2010, so 3 months after these are my inputs - positive: low spreads, no minimum deposit, quick service, good customer support (they did replied immediatelly to my complain), good range of news and market research supplies, some didatic issues for begginers with quality; negative: poor resolution charting (altough they have all main functions need for trading), quick and strong variability on spreads during news events. I have no complains about honesty up to now.
I have used OANDA since 2006, and they are professionals. OANDA is NOT a scam. Actually, they have steadily provided additional services which I have found very helpful such as — the Global Transfer, the desktop platform etc. Every trader should plan to use more than one broker — please diversify!
But NOTE, every broker is there to make money and part of their income is your LOSS — that is the reality in any financial market. So it does not surprise me that OANDA servers "conveniently" crashes when the market moves rapidly; and it does not surprise me that OANDA suddenly limited allowable daily transfers to 20 from one account to the other; and it does not surprise me that they hunt traders' stops — believe me, every other broker does that.
Your job is to protect your investment; if you don't have solid plans to protect your trades, then get out of forex trading.
Summary: OANDA is a very good and professional broker and "market maker". They give you the tools to make money, but if you don't protect yourself, they will not hesitate to profit from your loss — and I think that's what every other broker does.
I have been with Oanda for about a year. Oanda is a market maker so they actively trade against there customers. They actively hunt stop losses. Oanda's trading platform freezes often. I have lost my connection to my trading account while trading and they told me that I was having internet connectivity problems even though I could get to other web sites and log in to my email without a problem. They also did not know that I used to be a network administrator before telling me that I was having internet connectivity problems. Oanda is a highly manipulated environment. The correct term for this type of broker is a "Bucket Shop"
ECN brokers are the most free market breed of broker. They do not have a dealing desk that can be manipulated. ECN brokers want you to be successful because they make money when you make money. Oanda makes money when you loose. As time moves forward traders will opt for ECN brokers and market makers will go bust.
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