What is the maximum amount of pips allowed
That the broker can raise the spread,
That is up to the broker and what ever decisions are made by the management team. It goes without saying that a broker with high spreads should be avoided at all costs.
dont you think thats kind of unfair what if one day you woke up and they raised the spread 180+ pips on Eur/usd
it would be unheard off but , technically it would be possible unless trading with a broker that offers fixed spreads
First thing you want to do is get a hold of your broker and ask them about it. Without telling us which broker, which pair you were trading and what your broker said, otherwise you’re only going to get general answers.
i asked my broker and i was referring to all pairs in general, they would not tell me
they said there not able to tell me this information …
That would be unfair which is why picking the right broker is crucial. I have never heard of such a case, but again technically and in theory it is possible. Even if you trade with a fixed spread the broker has the right to adjust the spread.
Though it is possible for a broker to raise a spread but nowadays forex market characterizes high competition and as such brokers are trying to stay close to customers as possible and so spread are tend to be fixed on the lowest possible level.
Make sense …
So basically there is no specific amount of pips , is there a certain range that these brokers keep there spread @, i have noticed with my brokers everyday @ 5pm is when they raise there spreads aside from news releases or anything. so if around 5 the spreads get raised to a specific amount how do you know that its going to be the same today as it is going to be the next day, lets say Monday 5pm Usdcad very rare any news comes out at this time for this pair. for example the spread is 6pips , Next day: Tuesday 5pm spread is 10pips … I mean nothing has changed but the day…would this be another example of stop hunting, theres no reason for the spread to change , or just another way to take bigger commissions at times
Today for some reason on Usdmxn spread was nearly triple the amount no news no nothing this is after hours… Randomly during the week the spreads get tripled then gose back to normal after a hour or two…? I’m confused stop hunting…? Maybe, my brokers usually have goods spreads