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.
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.