So im on London time and using XTB broker, and in the AUD/NZD pair i got a buy stop order filled at 13:30, with a 30 pips spread, and then the price just kept dropping, and the spread went bach to 2/3 pips in a matter of minutes. And this wasnt the first time either, i had a previous order filled at plus 50 pip spread. This is super weird to me, did anyone else ever experienced these kind of spikes in spread, goes up 50 pips comes back down to 2 pip in 1 minute ?
Hi and welcome.
I checked this relatively large spread on Trading view and confirm this was most likely the market, not just your broker. I did not check market news in detail. I cannot offer any analysis of this event other than a 30 PIP spread is not unusual, and although the pair is AUDNZD, both currencies are also impacted by USD news too.
Looking at the AUDUSD, it dropped by 24 PIPS in the same time period and the NZDUSD dropped by 23 PIPS. Add broker widening on the BUY/SELL spread for increased risk to that and you have your 30 PIP spread answer.
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Great that you picked this up, and great that you posted a question about it.
With spikes like that, it’s surprising that anyone at all makes money trading AUD/NZD short-term.
But wait a minute - does anyone at all make money trading AUD/NZD short-term?
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