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Spreads of FXCM

Discussion in 'General Forex Talk' started by eraforexrobot, Feb 10, 2011.

  1. eraforexrobot

    eraforexrobot Recruit

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    Hello to all,

    I am in the broker FXCM and yesterday I hit an Stop loss, because of widen spread of 20 pips in GBPCHF at 17 pm EST time aprox.

    I want to ask if this is normal that happens on the brokers, and if I can do something because to lost 430 usd in one second without doing anything, I feel very sad.

    Thanks for all this comunity of Forex Peace Army.
     
  2. Jason Rogers

    Jason Rogers FXCM Representative

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    Hi era,

    I'm sorry to hear about the loss on your trade. Many of the currency pairs experienced an increase in the spread at 17:00pm ET (22:00 GMT) yesterday. Rollover occurs every day at 17:00pm ET and yesterday was also triple rollover. It's not uncommon to see spreads widen somewhat as this is when forex positions at the banks are rolled over from one trading day to the next. With an STP/NDD system, the broker does not control the pricing or the spreads. The prices and spreads you see on FXCM's platform are determined by the best bid/ask price being offered from the multiple banks competing to provide pricing and liquidity. The spread will be a reflection of available liquidity and banks managing risk during volatile or uncertain market conditions.

    Please let me know if you have any questions.

    -Jason
     
  3. eraforexrobot

    eraforexrobot Recruit

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    Hello FXCM Representative,

    I already know that pairs at that time are increased. Do you think 20 pips of spread is not uncommon ? So what is uncommon for you, 40 or 60 pips, or where I have the stop loss?

    I have opened a complaint in FXCM and they said me that all is ok, that the price market is valid at that time, and a time before, when I chatted with a good person in FXCM, he said me he doesn't see the price market reached that price at that time.

    Obviously I would not start a complaint, if I do not see something uncommon.

    Yes, it is uncommon, because I have two brokers more that are STP/NDD, and they did not reach the half of spread at that time.
     
  4. D-Trader

    D-Trader Private, 1st Class

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    Hi era,

    Can you please attach hier 5M chart of GBP/CHF from 16:30 to 17:30 ET at the time spread jumped.

    Thanks.
     
  5. eraforexrobot

    eraforexrobot Recruit

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    Hello,

    I attached the M5 chart of GBPCHF at that time.
     

    Attached Files:

  6. eraforexrobot

    eraforexrobot Recruit

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    And I am not talking about the traditional spreads of FXCM, where they are famous to be wide.

    I am talking about the FXCM, where you enter through ATC Brokers, that the minimun is 5000 USD and it has an ECN Connection with "Tigh spreads", and "High Liquidity", and they charge a good commision in addition of the spreads.
     
  7. D-Trader

    D-Trader Private, 1st Class

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    Hi era,

    Bleave me from this chart nobody can analyse. Please enlarge it that some one can see what's happened. If possible let us know you entry price and S/L also. Thanks.

    D-Trader
     
  8. eraforexrobot

    eraforexrobot Recruit

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    Hello D trader,

    I adjunt again the chart.

    The trade sold at 4:14 PM at 1.54257 and closed at 5:01 PM 1.54488

    The SL is at 30 pips, and it touched and closed it. So the spread was extended more than 20 pips in real.

    But don't worry, I can not do anything. They are a Broker with hundreds of people, thousands of arguments, and millions of dollars...

    In this planet are good things and bad things, and with the bad things I can not do anything, just try to do something and finally accepted what they are. Some day, I will understand the duality, for the moment I do not understand all this.
     

    Attached Files:

  9. D-Trader

    D-Trader Private, 1st Class

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    Hi,

    I think you know that pairs GBP/CHF & GBP/JPY are fast moving pairs and mostly have spreads from 4 to 12 depending on brokers.

    1. You know that pair moves very fast.
    2. You know spread for this pair can be wide.
    3. You know your S/L is 20 pips, which is too small for this pair.
    4. Chart you are using, if using like you present, then please change this strategy.

    You know from many forex forums that broker will not happy if you make profit, but you will happy if you make profit. So game between you and broker. You have chart, indicators and lot of articles to read. You will win if you will make a right strategy. What is right strategy?

    Don't worry, wake up and trade. Consider the all things and wait for good chance that broker can't do any thing against you.

    Thanks.

    D-Trader
     

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