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Sunday gap trading: brokers opening at 5pm EST Sunday?

  • Post #1
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  • First Post: May 15, 2011 2:29pm May 15, 2011 2:29pm
  •  AnimalHungry
  • | Joined May 2008 | Status: Member | 97 Posts
I'm ideally looking for a micro/nano broker that opens at 5PM EST Sunday with decent spreads to trade Sunday gaps. I would use FXPro but they don't offer micro accounts. Alternatively I'd use Oanda but their spreads look ridiculous at the Sunday open.

I'd be interested in hearing which brokers everyone uses, what time they open on Sunday and what their spreads are like.

Cheers
Simon
  • Post #2
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  • May 15, 2011 2:40pm May 15, 2011 2:40pm
  •  Heliosdz
  • | Joined May 2010 | Status: Member | 80 Posts
FX Solutions open at 5:15pm and they have fixed spreads.
 
 
  • Post #3
  • Quote
  • May 15, 2011 2:43pm May 15, 2011 2:43pm
  •  AnimalHungry
  • | Joined May 2008 | Status: Member | 97 Posts
Quoting Heliosdz
Disliked
FX Solutions open at 5:15pm and they have fixed spreads.
Ignored
Thanks Heliodz - I'll check them out.

Simon
 
 
  • Post #4
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  • May 15, 2011 5:19pm May 15, 2011 5:19pm
  •  CodeMeister
  • Joined Sep 2009 | Status: Making Code While Making Pips | 1,672 Posts
FXDD opens at 5PM and they have fixed spreads.
 
 
  • Post #5
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  • May 15, 2011 6:24pm May 15, 2011 6:24pm
  •  iwjw
  • | Joined Mar 2011 | Status: Member | 464 Posts
So having found a broker that opens around 5pm, the strategy would be what?
 
 
  • Post #6
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  • May 15, 2011 7:31pm May 15, 2011 7:31pm
  •  AnimalHungry
  • | Joined May 2008 | Status: Member | 97 Posts
Quoting CodeMeister
Disliked
FXDD opens at 5PM and they have fixed spreads.
Ignored
Thanks CM - so far FXDD is my best bet because they do micro a/c's, open at 5pm and have competitive spreads.

Simon
 
 
  • Post #7
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  • May 15, 2011 7:31pm May 15, 2011 7:31pm
  •  AnimalHungry
  • | Joined May 2008 | Status: Member | 97 Posts
Quoting iwjw
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So having found a broker that opens around 5pm, the strategy would be what?
Ignored
At the risk of sounding facetious, trade the gap to close.

Simon
 
 
  • Post #8
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  • May 16, 2011 3:01am May 16, 2011 3:01am
  •  iwjw
  • | Joined Mar 2011 | Status: Member | 464 Posts
Quoting AnimalHungry
Disliked
At the risk of sounding facetious, trade the gap to close.

Simon
Ignored
I don't think that you will see a gap at 5pm unless maybe something exceptionally happened during the weekend.
First of all the "gap" has to develope during the first market hours when most of the brokers are still closed.
What I thought is that you want to trade in the direction of the initial trend and then, after two hours or so, open a countertrend position for the gap to close
 
 
  • Post #9
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  • May 17, 2011 3:38am May 17, 2011 3:38am
  •  AnimalHungry
  • | Joined May 2008 | Status: Member | 97 Posts
So I've done some more digging and MB Trading is undoubtedly the best option for me: they open at 5pm, they have the lowest spreads out of all the retail brokers I've seen (usually 0-1 pip on EURUSD which may go up to 2 pips on market open), and best of all they do micro accounts so I can get back into gap trading with a small live a/c. I also called them today and they're v helpful on the phone and seem to know what they're up to. And they bank with JP Morgan Chase in the US so no foreign bank a/c funny business. They charge $2.95 commission each way per standard lot - which is 2.95 cents per micro lot which when added to the low spread is still better than the other retail brokers I've seen.

So it looks like we have a winner -- I just need to go and make some money now LOL!

Simon

EDIT - and I forgot to mention that they opened a live a/c from scratch for me within 3 hours!!! I just uploaded my docs and bank it was approved pronto.
 
 
  • Post #10
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  • Jun 27, 2011 12:53am Jun 27, 2011 12:53am
  •  CodeMeister
  • Joined Sep 2009 | Status: Making Code While Making Pips | 1,672 Posts
Quoting CodeMeister
Disliked
FXDD opens at 5PM and they have fixed spreads.
Ignored

I have been with FXDD for over 3 years. I always liked their liquidity and fast response. But the main thing I liked about them was their fixed spreads. Not any more. This week's opening hours had crazy spreads. The U/CHF was at 15, 10, 7 - all over the place. Now it is back (4 hours after opening) to the normal 4-5 pips. The E/U was between 4 and 6 pips and now is back to the normal 2-3 pips. What is going on?
 
 
  • Post #11
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  • Last Post: Jun 27, 2011 6:55am Jun 27, 2011 6:55am
  •  fx13
  • | Joined Dec 2009 | Status: Hunting | 394 Posts
Quoting Heliosdz
Disliked
FX Solutions open at 5:15pm and they have fixed spreads.
Ignored
Fx solutions is a SCAM on this gap story. As they will know the prices & start adjust their positions ( they are a market maker ) for 15 minutes before allowing customers to trade or before they fire their STOPS !

13
Brokers are angels
 
 
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