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I have been using Oanda for the part two months. This is my first FX broker. I have traded many other markets. Currently there are two major obstacles at Oanda to succeed in trading.First, their incapacity to accept stop entry orders. Second, the mobile platform is sub par. Let's say you have to go some where with working order. You switch to their mobile platform. However, they don't let you change the stops or place a new limit order. They only accept market order (with stops/profit taking limit) and cancel the current working order. Nothing else. While on mobile I had some profits in my trade so I tried to move my stop to the entry price but Oanda mobile cannot do this. The next thing is the stop being hit and cost me money. At Oanda mobile "Never turn a winner to a loser" is virtually impossible. For an experienced trader this is unacceptable lack of feature. Right now I'm looking for a better broker with more features. Though during the active session their spreads are often 1.5 pip or less on EURUSD and the Java trading platform can handle the orders even during the fast market. So this is positive. Nonetheless their lack of trading feature is just as bad as a broker with wide spreads. If anyone know a broker with tight spreads and many trading features please post here.
Good luck.

Have been with Oanda for a few years and the stop hunting has become so obvious that one questions the overall integrity of their purpose. Of course I make some lousy trades ...but in the last few weeks whenever my stop was in my favor it did not execute; against me ... instant. On a few occasions I've had to come in with a market order to override the stop I had in place that was not honored. You can call it bad luck, but if luck is the residual of good design, then Oanda appears to be doodling with great care.
I will keep my account for now but the days of limit orders, for me, are over. I'll have to stay at the computer and watch my position so as not to get lulled into the belief that the stops are actually respected.

I must say that Oanda is the best all around broker but if you are an active trader like me you will need to find a new broker. Their trading platform is so glitchy that you never know if it will work especially if there is a huge news run. But what makes me mad is if you talk to them they try to make it sound like it's your computers fault. Well my computer is 4 gigs with nothing on it. I have been trading fulltime in all markets under all programs and have never had one platform problem until Oanda. I did everything they said to do and it still runs like crap. I notice their platform goes out when huge news happens and a pair spikes 300 pips or so. Well while everyone else is making money you are left out to dry. God forbid you are caught in the wrong direction if that happens. By the time your account works again you will either have a margin call or stopped out.

I will say it really sucks I have to find a new broker, I love how their system is set up but if it doesn't work half the time then who cares.

here is rating broke down
1. add remove funds by wire 5 stars
2. charting 5 stars
3. customer service 1.5 stars-treat you like an idiot
4. platform when works 5 stars when it doesn't 0 stars. very horrible and frustrating. My platform has been down or off for 5 days now.
6. execution 5 stars when platform works right
7. pip spreads 4 stars except during news

I have been using Oanda more than a year.

Pro's:
* Very fast execution
* Rxtremely low spreads during high volume London & US session
* Good rollover swap system, intelligent & fair
* Ability to sell long positions at Friday close price over weekend (closed market)

Con's:
* Asian opening on Sunday night has bad spreads.. which results in no trading, no risk really

I don't understand talk about wide spreads during news, no idiot trade before an <50% probability outcome (1/2+1/2=.5=50% + spread spikes). You wait for retrace & the lower spreads or you walk; but that's trading theory & outside purpose. No broker guarantee spreads during the extremes of news.

I have had one issue with an stop/loss not being respect but was refunded within 24h & some extra.

/Daniel