Using tick mill broker I have been placing trades at around a 0.2-0.6pip spread.
7am (gmt+10) comes around and the spreads are 7.0-20.5
Can anyone shed light on this please.
Is that the time of the New York close? There’s almost no volume, after that, until the NZ and Japan open … no liquidity -> high spreads.
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Yeah an hour before Sydney opens. I think your right. Come 8am (one hour later) everything was back to normal.
The other reason for the widen spreads could be the rollover, perhaps you should check this information with your broker.