FxSpyder and Oanda

Anybody have any experience with them. I’ve been following their progress for a while and wonder if they are legit.

In case you don’t know…they basically have taken the Oanda API and programmed it into their platform. From here they hold trade information, specifically trade stops, on their server so that Oanda can’t see it, thus negating stop hunting.

I’m just weary to log into my oanda account and give those details unless they are somewhat verified.

Any help would be appreciated.

on their server so that Oanda can’t see it, thus negating stop hunting

This indicates that Oanda stop hunt, in my experience they
do not, so therefore this approach would be of little use.

It also gives fxspyder the opportunity to rip me off instead. :lmao:

I’ll take my chances with Oanda thanks.

FxSpyder is a software company and not a broker and does not participate in any introducing broker programs. FxSpyder’s income is derived solely from the transaction fees for using FxSpyder.

Verified by who or what. On forums like this you have no way of knowing who you can trust or what their agendas might be. You should of course do your own due diligence and you need to work out a method of doing that

I have a small balance in my Oanda account so I downloaded this thing and gave it a try a few minutes ago… I guess I’m not that risk averse.

They don’t seem all that far along. For example, it’s hard to find the download link or understand the fact they use two logins. One login for their site and a different login when you want to use the platform to connect to Oanda.

However, warning, don’t start running the program on your account if you have any active trades open. It appears that it is set up by default (as of today anyway) to apply what it calls soft limits. Basically, there is a chance it will close trades on you… as it has done for me. Once you have a square account you could then start using their platform and get used to it.

It also reports errors that apparently aren’t errors depending on the version of .NET that you may have installed on your PC. I saw this on their help/forums prior to download and noticed it giving errors while it was shutting my orders and taking profits for me… :smiley:

Anyway, all that said, I like the idea of having a metatrader bridge (which I haven’t tried) and/or having alternate access to API trading. As said above, I am not worried in the least about Oanda’s trading practices – people are always trying to blame their poor skills on their brokers (though I suppose some brokers do have issues).