aud\jpy spread is 10 pips according to refco!

Discussion in 'Forex' started by manz66, Jun 17, 2003.

  1. manz66


    aud\jpy- 10 pips is really too much spread to profit daytrading in forex mkt. difficult to calculate where to enter.

    Here is refco's spread sheet-

    Bid/Ask Spread

    4-5 pips on the Majors and 5-20 pips on the Crosses:

    U.S. dollar / Japanese yen (5 pips)
    U.S. dollar / Swiss franc (5 pips)
    U.S. dollar / Canadian dollar (5 pips)
    Euro / U.S. dollar (4 pips)
    Euro / Great Britain pound (5 pips)
    Euro / Japanese yen (5 pips)
    Euro / Swiss franc (7 pips)
    Euro / Canadian dollar (10 pips)
    Euro / Australian dollar (20 pips)
    Great Britain pound / U.S. dollar (5 pips)
    Great Britain pound / Japanese yen (10 pips)
    Great Britain pound / Swiss franc (15 pips)
    Swiss franc / Japanese yen (10 pips)
    Australian dollar / U.S. dollar (5 pips)
    Australian dollar / Canadian dollar (10 pips)
    Australian dollar / Japanese yen (10 pips)
    New Zealand dollar / U.S. dollar (5 pips)
    New Zealand dollar / Japanese yen (10 pips)
    Canadian dollar / Japanese yen (10 pips)
    Order Sizes

    On the RefcoFX trading platform all trades are executed in standard sizes of 100,000 base currency per one lot. There is no maximum trading volume on the RefcoFX Trading Station, however, for trading sizes larger than $10 million, traders must request a quote over the telephone.


    RefcoFX enables currency trading to be conducted on a highly leveraged basis. You are able to select the degree of leverage or gearing that the client wishes to employ in trading. Unless you specify otherwise, RefcoFX sets your leverage level at RefcoFX's most lenient requirement. The requirements for leverage vary with account size.

    Accounts Under $50,000: minimum $1,000 in equity per open lot (1%)
    Accounts $50,000 - $200,000: minimum $2,000 equity per open lot (2%)
    Accounts $200,000 - $500,000: minimum $3,000 equity per open lot (3%)
    Accounts Over $500,000: minimum $5,000 equity per open lot (5%)

    Equity is the value of funds in the account adjusted for floating profit/loss on open positions. One lot has an approximate market value of $100,000. A requirement of $1,000 in equity per open lot is, therefore, approximately equal to a maximum leverage or gearing of 100:1.

    Dealers constantly monitor the leverage levels of all accounts. Although RefcoFX makes no guarantees, the dealing desk may attempt to contact clients whose accounts are near the minimum equity requirement for their open positions. Clients are fully responsible for monitoring the activity in their accounts.

    In the event that an account exceeds its maximum allowable leverage, the dealer has the right to liquidate all positions in the account, without notice.

    Any one successful here?
  2. Does every brokers have different pip or spread
    between each 2pairs, or the spread standard with
    all brokers?
    I am new to forex. Please tell me how you can
    profit if you go for 10Pip?

    For euro/USD 4pip is not realy much? You are not
    good trader if you can beat their spread.
  3. manz66


    Yes, I make money with euro/usd, because this pair have more liquidity. But, I tried expanding to differenrt pair other than dollar, but it is not easy.

    I only enter when there is a breakout.
  4. average spread on futures is equivalent to 7 pips, and then you commission on top of that.

    most FOREX is 5 pips or under and NO commission.

    and there is more liquidity in any FOREX than you could possibly need.
  5. Normally, spread for EU futures (GLOBEX) is much smaller than 7 pips: sometimes it is just 1, normally around 3!

    Commissions: I pay 7 $ r/t so it is less than 1 tick...

    Most FX brokers have larger spread.