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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!
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I'm quite supprised Mick. There are 120 hours in a week that the market is open and Oanda's spreads are normal and their connection works. It is only 15 minutes or so that things change during the course of a trading week. There are many opportunities to trade instead of only during data releases.