Forex brokers....why are their quotes so different

Discussion in 'Trading' started by peilthetraveler, Oct 5, 2008.

  1. I've been to a few different sites and noticed that there are huge differences in what their quotes are. For instance GBP/USD One site says 1.7655, another 1.7718, and yet another 1.7750! I mean thats a 95 pip difference between the first and the last one. Yahoo was the one quoting 1.7718 and forex.coms quote is 1.7716, but so far, I cant find 1 broker that has the same quote as another broker (and this is the time when the forex markets are closed so they should ALL be the same right now, right? What gives? Do these guys really get away with giving their own quotes that are not market quotes?
  2. Surdo


    Welcome to Fx!

    I think I will stick with GLOBEX Fx futures.
  3. Different marketmakers close at different times on Friday and open at different times on Sunday, plus some marketmakers widen spreads over the weekend (Oanda for one), also what price are the one's you looked at quoting, Bid, Offer, Mid price?

    During normal market hours and normal market conditions you'll find their quotes are usually within a few pips of each other, and of the underlying market.

    Like Surdo said, welcome to the wonderful world of the retail forex bucketshop marketmaker where anything can happen :)