BEWARE -Chat with OANDA and their Stop Hunting Makes Me Think They Are a Bucket Shop

So, OANDA just stopped me out of USD/JPY because they said that my trade hit its stop loss. However after doing some checking around, the price they quoted dose not reflect the market prices. In the chat they demonstrated that their prices will vary from what the market prices for a given currency pair is.

Anyhow, I realize that OANDA is just another bucket shop, but bucket shops as a thumb base their pricing on real market prices and do not adjust their prices in order to take out their client’s stops.

However, from what I can see, OANDA now has a practice of adjusting prices in order to take out client stops so that they can make money off their customer good trades.

Anyhow, check out the following link and you’ll see a good trade gone bad by a bad FOREX DEALER. BTW, one must ask, is the reason why OANDA is doing this is because they are having Liquidity Problems themselves and that they are perhaps no longer solvent?

judging from my -poor- personal experience, there is no use in using “stop loss” when trading extremely volatile events.
you just have to be quick, something like Lucky Luck the cowboy comics hero who was faster than his shadow, and of course own a trouble-free computer.
The rest of the time, for planned trades, “stop loss” and “take profit” are necessary tools.

I still see it as important, though posts like the one above makes me uneasy as we really can’t tell how the whole thing went down.

I am wondering how you come to conclusion about the Oanda liquidity Problem. I mean this is a big forex broker and don’t seem to be the type that will have a problem soon enough. Also, why would they benefit from your loss or wins. So many unanswered questions in this forex world.

Oh God, not again. Please.

They stop hunt! I used them few years ago and left.

and Which brokerage are you using now?

i would like to bump this 2 years old thread and let everyone know that OANDA DOES STOP HUNTS SOMETIMES
it was 1 year ago when they stop hunted me after i funded in more money and played by lots instead of microlots.

some of you might think that this is just bad trade management but it is just TOO obvious after comparing the price between different brokers.

this is just my first warning post to you oanda. i am still using oanda’s account for small trades but with MASSIVE FEAR of using stop loss but still use it every now and then. IF i experience just one more stop hunting from you guys, i promise i will share my experience every single day in every single forum that i can with pictures and evidence of your stop hunting until you start losing customers.

I was working with them 2 years back, but they made my life miserable, to say the least. I believe I won’t ever want to get myself into trouble with broker like Oanda, I am better off without them and will suggest same to others.

and do not use they re platform, if u do take a log, its always negative slippage