Anyone have any suggestions on which broker has the best overall conditions for this pair? …spreads and slippage mainly… I’ve had a few heated moments with both demoing this pair and could use a bit of guidance. Both my chosen brokers have issues with both concerning this pair.
I’m using FX Solution UK 
They have a 9-pip spread for GBP/JPY.
9 pip spread…God, that is awefull. Try fxcm, their spreads are decent, especially on a micro account which has a limit of $5,000 and spreads around 2.0 - 3.5 on GJ and 1.5 on e/u…overall great spreads. No slippage, no re-quotes. For a larger account, go with an ECN.
mmmm that’s cool! 2 to 3.5 :eek: thanks for sharing!
I’ve got a Micro UK account with FXCM. They have good spreads on pretty much everything, but slippage is an issue. I’ve also been demoing with ACM, no slippage whatsoever, but 10 pip spread is a bit much, even on the GBP/JPY. I’m likely going to stick with the FXCM, but I thought I’d look around a bit.
I have a live account with Alpari (UK) they have 5.5 pips but before and after of economic news from England or Tokyo this spread changue very fast.
Yeah during the economic data releases things get very crazy. ACM’s ‘what you click is what you get’ comes in handy during these times, but their spread on the Mini account is 10. So, that pretty much nullifies them.
Oanda has 2.7 pips(asian+eu) and 4.3(usa). can also go like 20 pips when news comes out.
Due to Tsunami Japan Yen has lose its value as there is not much activity in foreign exchange market. All the world is in shock as the devastation has effected the Japan so severely that it takes years to repair.
actually the opposite is true. Volatility is extremely high and the BOJ is trying to stabilize the fx market. During one minute yesterday at lunch time asian session, the gbp/yen rose 90pips, then again towards the close of US session the gbp/yen rose 80pips in one minute. The daily ranges are up about 3 times pairs since the quake.
The yen continues to appreciate and is near all time highs against the dollar.
Spread of 1 to 2 on GJ…Commission $20/m
the lowest found spread is found at ECN brokers since they are payed by commission rather than by making the spread higher on dukascopy it is 3-4 pip in average all day.