Should I stick with eToro or switch?

[UMAF]

Hi Umaf,

While I can’t speak for other brokers, I would like to address your concerns regarding FXCM.

In my experience when people talk about spikes, they’re usually referring to how spread can widen during news events, or during trade rollover which happens around the New York Close at 5pm EST. Is it possible that’s what you’re meant? If so, it’s possible to prepare for such events, since they’re usually scheduled well in advance. That’s what experienced traders do, since they know it’s just part of trading in the financial markets. When FXCM’s spreads widen, it’s because the spreads being quoted to us by our liquidity providers have also widened to reflect the lower liquidity in the markets during these events.

Jason

Yes Jason, thanks for clarifying. I firmly believe that traders should understand that spread widening is mostly the result of feeds provided by liquidity providers and I don’t think that FXCM does it on purpose. Otherwise, it would be a challenge to remain an industry leader. Personally, I believe that traders stick with FXCM not because of the spreads but the quality and consistency of the platform and order fulfilment. Alas! few try to understand how the industry really works. Still, customer is the King and we must do anything and everything to satisfy them…A harsh world indeed.

[mithcd]

Additionally, FXCM, being associated with NYSE gives people a ton of assurance. Just my two cents though.