FXSOL 5 pips spread on GBPUSD NOW!!!!

Discussion in 'Forex Brokers' started by spieler, Oct 26, 2006.

  1. spieler


    I was on a business fly to Singapore these days.

    I open now my FXsol account and see 5 pips spread en GBP/USD

    It was 4 days ago

    I checked on their web site and it is written 5 as well now???

    5 is Enormous!!! i did not received an email for that change.

    SOmebody knows something on that change?

    All brokers are thightening spreads FXsol is widenning!!!

    I am gonna change of broker cannot handle such a spread
  2. spieler


    FX Solutions has adjusted the "bid/ask" spread on several currency pairs
    to better reflect market volatility and liquidity.
    The following changes have been made:
    The spread on AUD/USD has been reduced by 1 pip
    The spread on GBP/USD has been increased by 1 pip

    The spread on GBP/JPY has been reduced by 1 pip

    FX Solutions continues to offer clients the industry's most accurate
    price feed, unparalleled, automated order execution and competitive
    fixed spreads.

    There is an increasing liquidity on GBP so dont really understand.

    I need now to find an other broker, almost impossible to trade cable with 5 ( was hard with 4)
  3. Player,
    Right now, in the London session, we have the GBP/USD Future @ 1.8920 - 1.8921 :D. If you want tight spreads, have a look at the CME.
  4. FXPimp


    You might want to get used to it. The word on the street is FCMs widening spreads in the near future. Of course, there are always places that you can find a tighter spread and changing firms is fairly painless in fx.

  5. spieler


    in the streed i dont know but on the web they are mainly reducing spread.

    I have an other account with currenex access ( mainly 1 pip on GBP/USD, sometimes 2 sometimes zero, never more )

    But i need an other account and fxsol is very good on news
    But cannot handle 5 pips that's far too much, on a per year basis the difference is huge in my pocket.
  6. I concur. I trade Euro and Pound Fx futures and pip spread is rarely more than 1 and it moves in line with the spot. pip for pip move with 1 pip spreads and decent liquidity... check out the CME.

  7. Does the CME offer the EUR/JPY pair ?
  8. 3rdocagt


    Talked to my acct rep @ FXSol and he said they widened the spread on the GBP to reflect the lowered liquidity of the GBP among their customers.

    I asked him how could the GBP have less liquidity than the AUS(which has tightened to 4 pips from 5) and he repeated that among "their" customers the AUS now has more liquidity than the GBP!

    Very interesting comment that supports the fact that I'm trading in a "limited" market and not the "interbank".

  9. spieler


    among their customers liquidity is gonna dry with 5 pips.
    personally i stopped trading GBP with them till i open an other account .
    I used to trade CME mainly on S&P , CAC and STOXX never tried on currencies.
    Going to give a try. But no hedging trick , no interest roll over
  10. damo484


    this is seriously b.s.. i'm going to have look around for other brokers especially an ecn type. while everyone's getting more competative they are getting worse. last friday when the n.y. session opened there was a volatitlity spike and i was logged off the system. it took a good 5 mins to get back on. combine this with the added spread they are not winning any friends over here.

    i can't beleive the claim that there isn't enough vol in the gbp to give a lower spread.:confused:
    #10     Oct 31, 2006