Hello, I have been reading reviews for Oanda on forexpeaxearmy. They seem to have really good reviews from some and really bad from others. Are the bad reviews just based on sour grapes? A fairly large percentage of negative broker reviews are definitely sour grapes and should be taken with a big grain of salt. There are legitimate ones out there, of course, but complainers tend to be the most likely to voice their opinions and there are lots of folks who look to blame someone other than themselves for losing money in the markets.
Firstly, be careful with forexPeaceArmy. They're not as unbiased as one might think after a quick glance. Secondly, many reviews are sour grapes for sure. Btw I'm a happy Oanda customer since , so I'm not unbiased either Have nothing but good things to say about them myself for what it's worth. I am on the "LOVE" side myself. I am very happy with them. I am not in the "love" category.
I am not a forex trader, but trade the fx futures. My forex account at TradeStation was migrated over to Oanda about 18 months ago. A few thousand dollars. I asked TradeStation to move my forex funds over to my futures account and then they told me it was at Oanda.
They gave me instructions to ask them to remit back to me. Complied with all their requested info. Asked again and they asked for additional information. Not available to answer questions on support line. TradeStation unable to help. This is the basic reason I stay away from spot forex.
With the exception of Interactive Brokers, most of them are not reliable. If you can not get your money out, why stay with them for anything!More...