OANDA raised spreads! | Forex Factory

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OANDA raised spreads!

  • #1
  • First Post: Apr 19, 2019 9:12am Apr 19, 2019 9:12am
It looks like Oanda just raised their spreads across the board. No, this is not a pre-news announcent raise (as far as I can tell), this looks to be a huge cost increase in their commissions. I think they have lost my business if this continues.

Here is the evidence:
https://www.oanda.com/forex-trading/markets/recent

That is the recent historic pip spread for the EUR/USD which I believe is the most liquid pair. It is right now at 2.1! It should be around 1.2. If you go back for months it is not possible to find such a prolonged increase whenever there is no upcoming major news.

And it is occurring in EVERY pair.

If anybody can show me otherwise, I believe Oanda has just increased the costs of their clients. If this continues much longer, they will definitely lose my business to a lower cost broker.

Thanks in advance for any replies that might shed light on this issue. Hopefully someone will show a pip spread for their own popular broker to compare. If other brokers are doing the same then I cannot blame Oanda.
Trend lines work.
  • #2
  • Apr 19, 2019 10:43am Apr 19, 2019 10:43am
Quoting Bry777
It looks like Oanda just raised their spreads across the board. No, this is not a pre-news announcent raise (as far as I can tell), this looks to be a huge cost increase in their commissions. I think they have lost my business if this continues. Here is the evidence: https://www.oanda.com/forex-trading/markets/recent That is the recent historic pip spread for the EUR/USD which I believe is the most liquid pair. It is right now at 2.1! .
You're trading during Good Friday and world markets are closed.. of course the spread will widen..
  • #3
  • Apr 19, 2019 3:11pm Apr 19, 2019 3:11pm
The markets were not closed all day were they? I saw price movement on charts all day, and a very widened spead all day. So you are saying that is normal for a Good Friday. In last 3 months of spread history there are no other days with such wide spreads but also no other major holidays, I guess.

I hope someone with another broker will compare spreads.

Quoting DojiSan
{quote} You're trading during Good Friday and world markets are closed.. of course the spread will widen..
Trend lines work.
  • #4
  • Apr 19, 2019 5:45pm Apr 19, 2019 5:45pm
Ok, I am guessing pip spread will return to normal on Monday. Didn't know Good Friday would increase spread so much. DojiSan, thank you for the reply.
Trend lines work.
  • #5
  • Apr 21, 2019 2:15am Apr 21, 2019 2:15am
Quoting Bry777
Ok, I am guessing pip spread will return to normal on Monday. Didn't know Good Friday would increase spread so much. DojiSan, thank you for the reply.
Are you trading a live account?
  • #6
  • Apr 21, 2019 2:54am Apr 21, 2019 2:54am
Quoting Bry777
Ok, I am guessing pip spread will return to normal on Monday. Didn't know Good Friday would increase spread so much. DojiSan, thank you for the reply.
would wait for Tuesday...Easter Monday also a banking holiday in most major fx markets.
there is always, always another trade!!
  • #7
  • Last Post: Apr 21, 2019 9:01am Apr 21, 2019 9:01am
Quoting Bry777
The markets were not closed all day were they? I saw price movement on charts all day, and a very widened spead all day. So you are saying that is normal for a Good Friday. In last 3 months of spread history there are no other days with such wide spreads but also no other major holidays, I guess. I hope someone with another broker will compare spreads. {quote}
Just to further add, it doesn't matter if the markets are actually open and there is price movement, what matters is liquidity. More buyers and sellers means lower spreads. Any kind of holiday or low liquidity times (Sunday evenings for those of us in NA) result in larger then normal spreads.

It's a bad idea to trade during these conditions anyway, most signals become unreliable in low liquidity unless you are using a system that is specifically tailored for such market conditions.
To be one with the market, you must first be one with yourself.
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