Oanda mixed reviews over my choice of Dukascopy forex brokers live on my Youtube channel
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(Last Updated On: October 28, 2018)
Oanda mixed reviews over my choice of Dukascopy forex brokers with deadlines
Someone on Twitter recommended me to take a look at these reviews of Oanda. You should know my opinion and it is not exactly favorable for many reasons. I am not sure what is reliable but I think Babypips.com maybe best. Go below to my webinar live on my Youtube channel
The one I rely on most is this
Just an FYI note but I only use Oanda now because I have to. I think it is important to remember:
Be wary of their market making by ensuring to only have virtual stop loss/take profit within your own system you develop.
I found the API support help desk was useless. They don’t respond at all! You are very dependent on the projects found on GitHub to get by.
I know of a few reports of lawsuits against. Oanda. I also base this on first hand knowledge.
You will find my Python course will be helpful to develop your own trading system to get around hard stop losses which are signals back to your broker. This could trigger the broker’s market making division to trade against you. One reason is you are letting the broker know your intended take profit or stop loss levels. This is something I would never recommend.
Here is an example of brokers trading against you….
I also mentioned that Dukascopy Alexa ranking has been dropping over the year. I use this as a metric to potentially show that few people are using them. Also, I cannot be bothered to rewrite Python scripts into Java to get it working with their platform JForex. Do remember I find Dukascopy is much better in so many ways. This includes they are an ECN which takes away the worry of market making which works against you. I just wish they had an API to keep up with competition since FXCM and Oanda supports Python.
I have set a webinar event for tomorrow night on
Crypto vs Forex vs CFD
Now that I got the Oanda data working, we can do a comparison between all 3 of these asset classes with the latest data. I am pretty sure I will not be making a video playback available either. I will stream this LIVE on my Youtube channel at Youtube.com/quantlabs