Spread increase at Sydney open .. normal?

Broker Discussion Forex Brokers
1

Hi all,

Its been a while since being on these forums, been a tough year for me on the markets…

Just a question regarding some trades i had on GBP/CHF last night, a pretty big trade (5 lot size)

At exactly 23:59 pepperstone Time, which is right where Sydney opens.

GBP/CHF was at 1.44535 based on Pepperstone charts
There Spread is typically 2 pips.

I got stopped out at 1.4466, Pepperstone customer care tells me spreads can increase at rollover due to liquidity.

Does this seem right? That it can increase that high and stop me out, increase to 15 pips, I got stopped out at 1.44683 even higher than my stoploss ?

Just need a second opinion as i’m not to sure, they are doing a trade investigation which can take 24 hours. Even if they compensate those losses, it doesn’t compensate the fact that I should be in this trade in profit at 5 lot size.

Very annoying for me, as if I had known spreads would increase that high i wouldn’t have been in that trade at that time.!

2

Also with a spread increase like that will it show on the 1 minute chart ?? As my 1 minute chart looks completely normal to me…

Advice would be much appreciated. :slight_smile: babypips school is the best around always recommend it to newbies

3

Yes it’s quite normal. At this time LP rolling positions and as result spread become to be wider. Some LP just stop quoting for a minute. In asia spreads are wider than in european or US session because of liquidity.

4

Lack of liquidity is always a bad friend!

5

  1. It’s always expected that there is a widening of spread during the open of major markets.

  2. Sydney doesn’t open at the change of an hour. It open at 23:50 UTC time.

  3. Always check the LOCAL time for market opening hours, because we recently have a time change, it can be different on your platform during the year. See = List of stock exchange opening times - Wikipedia, the free encyclopedia