we do have specific strategies for economic events to get around FXCM/REFCO's new rules. These strategies are provided to all our traders
The spreads are mostly 5 pips with 4 pips on the EUR/USD. I know most of you think that you can get 2 to 3 pip spreads. many firms out there say they have these spreads. We have had accounts all over the place. they basically move the market on you 1 to 3 pips each time you go to trade. some even grey out pricing. The fact is the interbank market is 1 to 3 pips. how can these firms make money by offering such low spreads? the answer is they cannot. so what they do is tell you they they have 2 to 3 pip spreads and then you open an account. once you go to trade they SHADE the market. So in essence the real spreads are 5 to 7. A nice gimmick to have you try them out. the only problem is they all lose customers very Quickly. Trust me FXCM/REFCO is not the biggest for no reason. i would rather get the prices advertised then have them all play games. Saxo and gain arent that bad the rest play these games. we also trade on Rapid FX. it is a best bid best offer platform directly with the interbank market makers. the only problem with rapid is that sometimes in non liquid times like the JPY session the spread widen to 7 but in liquid times the spreads are 2 to 3 and you can place limit orders inside the spread and there is no commission like hotspot. email us for more info
"The spreads are mostly 5 pips with 4 pips on the EUR/USD. I know most of you think that you can get 2 to 3 pip spreads. many firms out there say they have these spreads." Actually that is inaccurate. I have traded with OANDA for over a year now and their spreads are consistently 2-3 pips with instant fully electronic fills. I key off a 3rd party datasource and they definately do not move against me unless it is the market as a whole doing it. In fact much of the time I am in a net profitable position almost immediately (which is, of course, the way I like it!).
i was under the impression that FXCM prop division charges 1-2 pips with their prop platform. is this accurate ?? surfer
I have to agree . I didn't believe it but decided to open a small account with oanda last month to check and the spreads are excellent and consistent. I only put $2000 in so I can't be sure this holds if one is trading size though.
please check the prices and spreads and see the facts. We have ahd accountsa with all of the firms especially oanda. i would rather trade with a company that has 35000 customers VS one that has 1000. i get nothing out of promoting fxmc/refco. But i just say the truth
There is a platform that we trade on call Rapid FX that is a best bid/best offer platform that has 4 major banks on it. There are advantages and disadvantages to trading on it but the spread does get to 1 pip sometimes no spread during high volume times. the problem is that on low volume times the spread can widen to 5. major plus is the fact that you can place limit entry orders anywhere inside the spread. We will match fund accounts on this platform as well. email matchedfunding@globalfxllc.com
Any retail customer can trade on such a "highly sophisticated" platform. All you have to do is to open an account with HotSpot FX. www.HotSpotFX.com