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Oanda Reviews
Posted By: TradersLog
Company: OANDA provides internet-based forex trading and currency information services. OANDA has offered online currency exchange information since 1996 and forex trading services since 2001.
Software: The FXTrade platform is used by traders, investment managers, financial institutions, and corporations. OANDA offers free unlimited-use practice platform, APIs for automated trading, and FXManager, a trading interface for multi-client trade execution and reporting.
Website: Oanda.com
By Goldberg
On 11-6-2009 at 4:38 pm
Oandas spreads are the best, but their charts are very, very limited in technical ability. The question is, not that the forex industry is mature, and charting software is very inexpensive to develop or just buy, why don’t they offer better charts?
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By James
On 11-18-2009 at 12:59 pm
I have had an oanda account for about a year now and they have been great. I have an account with GFT and FXCM of all three Oanda is my favorite great spreads and the data feed is great. Charts could use some work as well as the leverage but I have never been let down.
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By baneya
On 12-16-2009 at 3:24 am
I have been with Oanda for about a year. Oanda is a market maker so they actively trade against their 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 lose. As time moves forward traders will opt for ECN brokers and market makers will go bust.