OANDA takes spreads up to 10/20 for majors over weekend.

[allalongthewatchtower]

Well the spread didn't close for the Australia open and 55 minutes into the Asia open the spreads are still 10/20.

[Y2A]

Yeah the spreads are still ridiculously high for the majors and jpy crosses, so much for trading tokyo this evening

[allalongthewatchtower]

The spread closed an hour after the open so maybe their IT people forgot to reset the time zone for daylight savings time.

[GTR Power]

Sorry guys, I have nothing against Oanda, but as I know it has so many problems and there are much more brokers with better conditions around...Maybe someone can explain me why Oanda is so popular?

[Mikhail Tegin]

GTR Power, it may be not, like any other broker (you know that). It's just that some people prefer differnet terms of trading. P.S. what kind of problems do you consider to have negative effect on its popularity?

[pirateboy]

Hmm...I'm just 4 days late as I chance upon this thread. I had a chat with Oanda this monday on the spread in Asian morning, which were totally unacceptable at 10pips, when every other broker was at 2 pips E/U.

They apologized profusely, and admitted it was their error...but couldn't do anything about it.....let's see if the same thing happens this week.

Originally Posted by allalongthewatchtower

The spread closed an hour after the open so maybe their IT people forgot to reset the time zone for daylight savings time.

[jspain0001]

Originally Posted by allalongthewatchtower

This actually happened 10 minutes before the close on Friday. All the major spreads are 10 or 20 pips as of the weekend 10/31/2009.

Is this normal for OANDA or anyone else to do?

ps.....someone was FURIOUS on the OANDA forum for being stopped out when the spread spiked

A stoploss of 10-20 is not good...unless you are trading when there is a lot of volitility in one direction. And you should close your positions out on Friday, even if its a loss.