OANDA Broker Testimonials

Several months ago, Oanda suddenly kicked me out of my position without any warning. I was in a good profitable place, it was well above my stop loss. I thought there must be some mistake so I talked to their customer support and I didn't get a clear explanation about why such a thing happened. That is not the only time I had a problem with this broker. Recently, I also find out that Oanda suddenly wiped out my account due to an inactivity fee. It wasn't even that long since I'm not really active, but that is just because I was holding positions, they can well see that I still have an open position. There is no reason to kick me out.

This company takes your money but won't let you withdraw. Here is my story in chronological order:

> Deposited some money through a bank account, very smooth, there is no problems occur at all.

> Opening some traders, also smooth sailing.

> Generate profit, decided to withdraw after it reaches a certain amount.

> Requesting withdrawal but the money doesn't arrive in my account for a week.

> Contacted the customer service, telling me there is some problem with my bank. This is a lie since I withdraw profit from another broker with no problem.

> No updates

It is such a shame that Oanda does not have a way to close your positions when the server is down. All you are left to do is just hopelessly watch as the market goes against you. On the other hand, outside of news event times, you will not have more than a 5 pip slippage for your stops and they have tight spreads.

Their customer service is one of the worst I have ever met. So, I had this small problem where I can't log in to my account from the desktop, but I can through my phone. Since I find it odd, I asked the customer service and they were terrible! I am not exaggerating, I originally very patient with people. The staff that was talking to me seemed to not understand what I'm talking about and why it is such a big problem for me. Overall it feels very unprofesional. Oanda need to train their team better.

I have been using Oanda apps for at least three months now and there is a reason why I don't think I want to continue trading with them. First of all the app was super laggy, it is really annoying when you want to place a position. It took a long time just to open the charts, how am I supposed to build my strategy if I can't even see the charts? I can understand if it's happened once in a while or even during news releases. But this happens more often than I wish it would. I had to switch strategies because of this, then I became quite successful. But then Oanda closed my positions without any notice at all! I ask them through live chat and they said it's their right to do so! They didn't even bother to give me explanations. Truly the best broker of the century.

Why are you keep rejecting my deposits? I have been trying to put my money since August, and it is October and I still haven't been able to deposit any money into my account. I did all the registrations, and I have tried all payment options that are available in my country and it is still not successful. I talked with the support team and they keep telling me to wait. Other times they blamed the bank. I've rung them every two weeks trying to sort it but all I ever get is "We'll forward this on to our verification department". I am really close to giving up, and I was very persistent about it.

I find it odd that Oanda accepted a deposit from my bank but REFUSES to allow me to withdraw funds. Why would they accept money from my bank but can't transfer it to them? It's ridiculous! Very, Very, Very upset over the inability to withdraw funds. Not to mention the transaction fees I get when I first deposits is really high, which is around $20.  Debit cards cannot exceed the amount deposited. Yes, they allow you to switch to another platform for withdrawing, but it takes FOREVER. I just want my money, why is that so hard to do?

Well, I guess I'm not going to trade with Oanda anymore. They used to be so good and honest, but now they have changed and be like other brokers. Now, they have awful charts that are very jumpy and disrupt my strategy and analysis. They don't have trailing stops, instruments are really limited and generally awful. Worst of all, very poor technical support. How can one get a trading experience with such a company.

In the beginning, it was really good. My deposit went very smoothly and there are no problems that occurred during this process. My funds appear almost instantly in my trading account. Even when I'm trading, everything seems to go very well and hassle-free. I think I must have found a reliable broker. But, sadly the problem arises when I'm trying to withdraw my money. They just won't let me get my own money. I tried to ring the person who originally phoned me from Oanda some time ago. Only to find the number is not valid anymore. A tip, you might want to file a small claim against them and report to the FCA if you experience this.

Terrible! Here are the reasons why I decided to close my account in Oanda and noped out.

1. If you don't pay close attention to your positions, they can empty your account in no time for 'inactivity fee'

2. Terrible platforms! It's really buggy, laggy, and there are a lot of malware

3. Order executions geted

4. Customer supports is terible