Oanda reviews by ForexPeaceArmy fooled members

fxkid, singapore Rating: Date of Post: 2008-06-05 Review: Here are some real facts of oanda as a platform: (1) The spreads of oanda at news announcement times are up to as high as 30 pips! If you are not able to manage the extremely high spreads by trading with them, your account would surely be wiped out in no time! (2) More importantly, the internet connection to their server/platform always disconnects straight after the news data comes out! Or worst still, the platform freezes during this time and it’d be a while before you can continue to trade. If you are already in a trade, you had better pray that the spike will continue in the direction it is intended to… (3) Only use oanda as a broker if your heart can take these kinds of technical “failures”! There are possibly better brokers out there! Just my 2 cents… Thanks.

Scott, Florida Rating: Date of Post: 2008-05-29 Review: I have been using Oanda for nearly five years and just in the last six months or so the slippage has been unreal. And, like other posters, it is ALWAYS against me. I see a price, execute the order, the bid and ask are still the same, and my fill price is worse. I have called to get an explanation, but it’s useless. 1 pip spreads are great, except when you add 2 or 3 pips of slippage! Too bad, they used to be so honest. Not sure what went wront.

lee, korea Rating: Date of Post: 2008-05-26 Review: Game over!!!I don’t trust them anymore.We are in 2008 and they still heve connections ,server problems… “Order execution is a two step process” = slippage(always against me).

marco, Romaa cy Rating: Date of Post: 2008-05-24 Review: I close my account with them and I ‘am so happy for that.I fell like I saved my money.Reason?Connection problems ,server down…very often.Slipage on open , close and stop loss.This was the answer about slipage: “Order execution is a two step process. The FXTrade interface recognizes that you order price has been met and then the order is sent to the server for execution. In that very short period of time the market may move several pips in either direction. This is why our execution policy states that the exchange rate used for executing the order is the most current exchange rate at the time the order is executed at the server and not necessarily the threshold specified in the order.” Price was 20 pips below my Stop loss and the position was still opend.This was incredible.They said “Thank you for your interest in FXTrade. We recognize the delay that occured today on your stop loss and wish to thank you for bringing it our attention. Our IT deptartment is currently looking into the issue…” but never did that.After this I start to trade with fear and all my trades was a disaster.Fortunaly I saved some money becose I understand that I can’t work without trust in my broker.Sorry for my english