Oanda Reviews - Forex All Brokers - Forex Brokers

Oanda

(3.4 stars vs. 3.3 category average)

Pros:: Low spreads, Easy-to-use platform, Good customer support, Solid trading platform, Good transaction reporting, Web-based platform, Mobile platform
Cons:: Spread widens frequently, Poor customer support, Wide spreads, No custom indicators, Poor charting software, Unstable platform

FX retail market maker.

Expert Trader

10/31/2011

0 of 0 customers found this helpful (0%)

Pros:: Easy-to-use platform
Cons:: Spread widens frequently, Poor customer support, Wide spreads, Unstable platform
Bottom Line:: No, I would not recommend this to a friend
Quote:: Most of my friends agree, not sure what happened... I use to love Oanda, but recently not so much. I am using their MT4 product and my EA's are not performing well.

I have accounts with 7 different brokers. I use the same EA's on all 7 accounts (4xlounge, Matrix and a custom EA). The results are pretty much the same with all brokers except my Oanda account. My Oanda account frequently misses trades and/or slips the entry by as much as 18 pips. Take a close look at the candles. The Oanda spreads are all over the place.

It might be a technology issue with Oanda's MT4, but I would not use them at the moment.