Comments on: OANDA expert review http://www.forex-learning-site.com/blog/2008/oanda-expert-review/ in support of *serious* forex education. Wed, 16 Dec 2009 08:20:16 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: asdf http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-203 asdf Wed, 16 Dec 2009 08:20:16 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-203 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. 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.

]]> By: lionhearted http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-197 lionhearted Tue, 25 Aug 2009 22:46:57 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-197 I have enjoyed reading the reviews. I am a new customer to Oanda and let me say that thus far the experience has been positive. Major advantage is that you can open an account for a mere dollar. You can deposit funds via PAYPAL (up to $100 USD UNVERIFIED, more if you are). The platform has been overall stable. Spreads during normal trading sessions are attractive, although I have noticed that in the last hours of trading Friday afternoons spreads can widen considerably. Yes, leverage is 1:50, but so what, there are plenty of other brokers that love to offer 1:200+. Why? Because they know full well the odds of you, the trader, getting blown out are very high and favor the "house." One thing I really like is the LIVE CHAT feature. Absolutely the best customer service I have ever experienced. Polite, professional and HELPFUL. Charts are of average value, on account of their modest size, but some technical indicators are provided. The fact they are NFA regulated means they have minimium capital requirements, so odds are they'll stay in business. Geared best for the positon trader. I have enjoyed reading the reviews. I am a new customer to Oanda and let me say that thus far the experience has been positive. Major advantage is that you can open an account
for a mere dollar. You can deposit funds via PAYPAL (up to $100 USD UNVERIFIED, more if you are). The platform has been overall stable. Spreads during normal trading sessions are attractive, although I have noticed that in the last hours of trading Friday afternoons spreads can widen considerably. Yes, leverage is 1:50, but so what, there are plenty of other
brokers that love to offer 1:200+. Why? Because they know full well the odds of you, the trader, getting blown out are
very high and favor the “house.” One thing I really like is the LIVE CHAT feature. Absolutely the best customer service I have ever experienced. Polite, professional and HELPFUL.
Charts are of average value, on account of their modest size,
but some technical indicators are provided.
The fact they are NFA regulated means they have minimium capital requirements, so odds are they’ll stay in business.
Geared best for the positon trader.

]]> By: chris http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-192 chris Mon, 10 Aug 2009 08:27:48 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-192 I use oanda for over 6 years now.. true - they freez, true - they eat up 50% of processor power.. but still this is THE ONLY place for micro trading I use oanda for over 6 years now.. true – they freez, true – they eat up 50% of processor power.. but still this is THE ONLY place for micro trading

]]> By: Forex-fan http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-56 Forex-fan Fri, 05 Dec 2008 09:21:11 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-56 Thank you for introducing different kind of broker with all the features. Thank you for introducing different kind of broker with all the features.

]]> By: Tradingfan http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-54 Tradingfan Thu, 04 Dec 2008 13:16:04 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-54 The leverage is very low. How could you open an account with such a forex broker? I am surprised as most of the forex brokers offer a much higher leverage. http://www.onlinestocktradingreviews.com/ The leverage is very low. How could you open an account with such a forex broker? I am surprised as most of the forex brokers offer a much higher leverage.
http://www.onlinestocktradingreviews.com/

]]> By: admin http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-14 admin Fri, 24 Oct 2008 22:00:35 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-14 Although GFT is unrelated to the broker described in this review (OANDA), I am sorry to hear you are having troubles with GFT. If you believe a forex broker has violated CFTC (or NFA) regulations, you should file a formal complaint. Of course, you will need a proof, which is not the easiest thing to get. I know that several people in the past have used saved screenshots of their trading account as a proof. Also, it is a good idea to call your forex broker first and try to explain what the problem is. Many problems are in fact a result of misunderstanding. But I guess you have already done this. Well, good luck and please keep us informed after you contact CFTC. Although GFT is unrelated to the broker described in this review (OANDA), I am sorry to hear you are having troubles with GFT. If you believe a forex broker has violated CFTC (or NFA) regulations, you should file a formal complaint. Of course, you will need a proof, which is not the easiest thing to get. I know that several people in the past have used saved screenshots of their trading account as a proof. Also, it is a good idea to call your forex broker first and try to explain what the problem is. Many problems are in fact a result of misunderstanding. But I guess you have already done this. Well, good luck and please keep us informed after you contact CFTC.

]]> By: Alex Findlay http://www.forex-learning-site.com/blog/2008/oanda-expert-review/comment-page-1/#comment-11 Alex Findlay Wed, 22 Oct 2008 20:15:22 +0000 http://www.forex-learning-site.com/blog/?p=27#comment-11 I have encountered an issue with GFT or Global Forex Trading that I consider a scam. GFT charges your trading account for currency moves from the closing date on the ticket to the settlement date. GFT is a counter party to the trade and I cannot find any other broker who uses this policy to remove funds from a trading account. The Forex dictionary definition of a closed position reads as follows:. A transaction which offsets a previous open position. In the case of having bought, selling the exact number of units so that one's exposure in the market is zero. GFT posts numerous conflicting and misleading statements regarding it's policy of removing money from a trading account days after a position is closed. GFT is not an ECN and uses a dealer desk. To make matters worse GFT acted in a vindictive manner by changing my password and denying me the ability to access pertinent bookkeeping information and the ability to withdraw my funds. GFT is in violation of CFTC regulations and I wish advice as to how you think I should handle this issue in a dignified manner. Alex Findlay I have encountered an issue with GFT or Global Forex Trading that I consider a scam. GFT charges your trading account for currency moves from the closing date on the ticket to the settlement date. GFT is a counter party to the trade and I cannot find any other broker who uses this policy to remove funds from a trading account.

The Forex dictionary definition of a closed position reads as follows:. A transaction which offsets a previous open position. In the case of having bought, selling the exact number of units so that one’s exposure in the market is zero.

GFT posts numerous conflicting and misleading statements regarding it’s policy of removing money from a trading account days after a position is closed. GFT is not an ECN and uses a dealer desk. To make matters worse GFT acted in a vindictive manner by changing my password and denying me the ability to access pertinent bookkeeping information and the ability to withdraw my funds. GFT is in violation of CFTC regulations and I wish advice as to how you think I should handle this issue in a dignified manner.

Alex Findlay

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