Quote:
|
Originally Posted by MickMason
Another NFP day and yet another farce at Oanda!
Looks like Oanda have finally realized, after falling profits, that playing it fair and transparent just doesn't pay the bills.
They started out with the best of intentions, it's just a shame they couldn't keep it up. First they widen spreads, then they widen spreads even more, now NFP traders have to contend with a 30 pip spread at times like NFP and 20 pip spreads across other data!
Despite the wide spread traders still made money so their final resort has been to take the trading platform off line during NFP, a typical bucket shop practice.
Congratulations Oanda, you're now a fully fledged bucket shop, the only difference is that now you have wider spreads than your competitors, good move!
|
I have left Oanda sinceJanuary, after their big mistake of 200 pips spread. The problem, is that although they agreed that this was by mistake, yet it took them 2 hours, to correct the results, and after 2 hours, they put me back in trade!!!! But you know NFP, I would have been +60 pips in profit, after NF{, and my strategy is to change SL as soon as I am +40 pips in profit. But I could not do that, because the 200 pip mistake had cause my SLs to be hit. I called them at once, and asked them to put me back trade at once, so that I can change the SL. but they could not.
It took me one week of emails, and phone calles, to convince them that puting me back in trade after 2 hours is not fair, and I had been deprived of controling my trade for 2 hours. Although they refunded me the 5,000 USD loss they caused in my account, yet I stopped dealing with them, and withdraw all the money.
Now, I am working with another broker which does NOT change spread, but I am not happy, he has +5 on GBP, and +3 on EUR spreads. But at least better than Oanda, where if I have tight stops, or orders, this broker won't shoot for them.