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Oanda's good spreads mean nothing because of price spikes

Oanda hunts stops and entries, which seems to be a recurring theme on this forum, particularly on spikes. I got suspicious when too frequently Oanda spiked exactly to my entries and stops and then retreated so I compared prices with another Oanda account (MT4) and a competitor and it proved my theory. Both never spiked as far. Following are some examples.

The most recent one was a AUS/CAD spike at 23.00 (15 min chart) on 21 March 2011 GMT. Their Java platform quoted 0.9859 hitting my stop but their MT4 platform quoted 0.98548
(4-5 pips difference), not hitting my stop.

Another was the AUD/JPY spiked down to 81.00 at 6.45 GMT 21 March exactly hitting my stop on the Java system but 81.02 on the MT4 platform, not hitting my stop. These are just two and I've got dozens more.

These kill you as a trader. So I'm leaving them. Oanda's good spreads and platforms mean nothing when their prices are against you. If you've been stopped exactly with Oanda and then retreats then check the prices of another provider, you will be shocked.

Drew, FPA 2011-03-21

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