[UPDATE: Website is back online, as of 4:35GMT, and company statement at bottom of article provided post-publication – around 6:00 GMT to Forex Magnates]
Oanda.com is back up after being off-line for over an hour due to an unexpected disruption in their internet connectivity that was said to be the fault of their Network Service Provider, Forex Magnates confirmed, and just over an hour after the site was down online connectivity was restored.
This was a developing situation that the company was trying to resolve ASAP, as their main website OANDA.com was down due to an issue with their Network Service Provider (or Internet Service Provider), as described above, and as explained to Forex Magnates’ reporters by people familiar with the outage that started a little over an hour ago.
The company was fast to update its social media accounts as a means to communicate with clients via any available medium, and connectivity to the MT4 trading platform was also said to be affected, as told to Forex Magnates by sources, as well as all their other offered platforms which are dependent on internet connectivity.
On Facebook, an official page for OANDA was updated with the following:
“Hi Traders! We are aware of the issues with the website and platform and are working diligently to resolve them as soon as possible. We apologize for the inconvenience and we will you keep updated.”
“Update – the issue we are experiencing is related to our network service provider. They are working closely with us to resolve the current outage.”
The firm updated via its @OANDA twitter handle, in a <140 character update: “We are currently experiencing issues with our network service provider. We are working with them to resolve this matter ASAP”
At about 26 minutes after that update – service was restored – with another update that said: “We are back and running. We appreciate your patience and sincerely apologize for this frustrating situation. We will have more updates soon”
A company spokesperson told Forex Magnates that it was their number one priority to get the site online again right now, and elaborated on interim means taken to accommodate clients, such as extra manpower in their call center and already in place processes to rectify any affected clients, on a case-by-case basis.
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Forex Magnates is monitoring the situation and will update this post accordingly, clients with open trades were able to call OANDA on U.S +1 212 858 7690 or
1 877 OANDA FX, and the firms’ live chat remained online as it’s powered by a 3rd party network – liveperson.net
Ironically, just yesterday Forex Magnates published an exclusive interview with OANDA’s new CEO, Ed Eger, whose word choice of ‘technology disruption’ was used more then a few times to describe the innovative changes and unique approach he expects to employ by disrupting the market with new solutions. The usage of disruption in the context of technology is thought to be a positive way to lead and set new trends within an industry and a commonly used term by people in the high-tech development space. Surely the disruption today was not of the type described in yesterday’s interview, yet worthy of mention as apparently being a pure coincidence.
OANDA Issues Statement on Outage
Following the developments, and after the site went back online, an official statement on the downtime was issued by OANDA:
On February 27th, OANDA’s primary Internet Service Provider (ISP) experienced an outage and as a result our platform lost internet connectivity. We want to assure our clients that at no time was any confidential information breached.
At this time, we would like to report that through the outage our clients were protected in several ways:
– The platform continued to function throughout the network outage and executed stored client orders (Take Profit, Stop Loss, Margin Calls, etc.)
– Client orders triggered on these prices
We take this matter very seriously and are working with our network providers to add additional resiliency to our network connections, to ensure our clients have uninterrupted access to fxTrade. We are also working with our ISPs to evaluate their existing infrastructure as several of their other customers were also affected by this outage.
To our clients, if you have specific concerns about your account(s), please contact our Client Experience teams at email@example.com or toll-free 1-877-OANDAFX.