Hi Everyone.
I want to share with you all something that i have noticed.
Many times when i place an order and even after price goes in my favor, spreads becomes so wide that my lot struggles a lot to come at break-even point.
For example, i opened a short position @ 0.71007 and spreads were at 2.1 and when it reaches at 0.70924 spreads suddenly goes at 8.7 and i was still in -ve.
Can any body tell me why this happen/or broker do this **** deliberately? :31:
regards.
Maybe these broker has no fixed spread, for certain broker if on news high impact and high movement usually they will wider the spread and suddenly after open trades we look on loss floating that not like as usual, but if we trade on broker that have fixed spread maybe this will not occur and often on news only faced requote problem.
i know during news timing it happens its normal. but in quite market, looks strange when happen.
can you mention a broker who offer fixed spreads??
It maybe difficult to find a broker that provides fixed spread accounts so it is recommended to go with a regulated broker, try to search an honest broker and don’t simply go with those who offers promising offers only. It is necessary to open demo account with 2 - 3 brokers after researching their pros and cons, then comparing them and lastly start with minimum accounts to check their remaining unseen processes.
What times are you trading? Let’s say that you are trading EURUSD, your spread will be at his tightest during the London/NY crossover. Given that, it’ll be wider after NY close so during the Asian session. Therefore it would depend on when you are opening your trade & when you are closing it. As you stated, news release widen spreads too.