FX Solution raises spread on GBP/USD

Me, too. I trade Daily and 4hr charts. I can live with the 1pip increase.

My latest chat regard notifcation of changes

"Please wait for a site operator to respond.
Chat InformationYou are now chatting with 'Akhilesh'
Akhilesh: Hello this is FX Solutions online chat. How may I help?

Mike: Hi it is my understanding that the spread on the GBP/USD was raised to 5 pips from 4 pips. I was wondering way notication of the change was not sent out?

Akhilesh: FX Solutions has adjusted the “bid/ask” spread on several currency pairs to better reflect market volatility and liquidity.

Akhilesh: Akhilesh: The following changes have been made:
Akhilesh: Akhilesh: The spread on AUD/USD has been reduced by 1 pip Akhilesh: Akhilesh: The spread on GBP/USD has been increased by 1 pip Akhilesh: Akhilesh: The spread on GBP/JPY has been reduced by 1 pip Akhilesh: Akhilesh: FX Solutions continues to offer clients the industry’s most accurate price feed, unparalleled, automated order execution and competitive fixed spreads.

Mike: Yes I know of the changes I just wanted to know why no notification was sent out regarding these changes. I found out about the spread increase when I placed a trade on the GBP/USD. I must admit I was quite surprized and very disappointed in the spread increase since I enjoy trading this pair. Akhilesh: notification is not customary

Akhilesh: as mentioned above, our spreads will be competitive with the industry
Akhilesh: besides the quote page shows both the Bid and Ask....
Akhilesh: so it is easy to see what the spread is

Mike: So your company feels that changing spreads at any given time without notification is Ok. Any change in spreads is a big deal. It does affect the traders profit and lose in a very big way. If a trader has been trading with a company for sometime, said trader should not have to go to the website to check what the spead is going to be that day or hour or minute.

Akhilesh: notification is not customary
Akhilesh: as mentioned above, our spreads will be competitive with the industry
Akhilesh: besides the quote page shows both the Bid and Ask....
Akhilesh: so it is easy to see what the spread is

Mike: So your company feels that changing spreads at any given time without notification is Ok. Any change in spreads is a big deal. It does affect the traders profit and lose in a very big way. If a trader has been trading with a company for sometime, said trader should not have to go to the website to check what the spead is going to be that day or hour or minute

Akhilesh: sir... we do not change the spreads frequently Akhilesh: but Akhilesh: if the market dictates it ...we will move to maintain our competitiveness
Akhilesh: as yo uare no doubt aware..... 5 pips for the GBP is the norm in the retail industry
Akhilesh: as to checking hte spreads....you dont need to go to the website Akhilesh: but you need to check the GTS platform.....the main quote page

Mike: No it is not I searched 15 other brokers and the only other broker that has a 5 pip spread in FXCM all other are are 3 to 4 pips Akhilesh: i dont think that is asking too much for one who is intent on trading the market

Akhilesh: besides.....it is important that you realize that our spreads are FIXED

Mike: Of course I see the price quote ask and bid. But I only look for price of the buy or sell depending on what my system says my trade should be. All I am saying is notification of any change such as spread would be good customer service. I good customer service is what I expect.
Akhilesh: ok.... will pass it on to our customer support department

Mike: Thank you.

Akhilesh: welcome"

I realize this spread increase is a drag on many of my fellow traders and for that i empathize with each of you trading the GbpUsd pair. I still tend to primarily trade the EurUsd pair and attempting to learn its subtlties. If FXSol raises its spread i'm pulling my account and going elsewhere. I believe with many it was just an excuse to gain more income from their clients. Plain and Simple.

, ( Thom

wow you guys are really stressing about one pip. if your worried about a one pip rise in a spread then why are you trading. all this means is more of a challenge to me. this one pip increase will make it fun

even though they raised the spread.. i still like them..

We're not stress. We are just upset for a moment. Everything will be fine next week.

what do you mean will it make it "FUN"..if u want Fun..Trading is not a right place..people here to trade seriously..and make a living..of cos we were upset abt this..1 pip make alot of difference to us..

Though I am not an FXSol client (will be in the very near future), I find that 5 pips spread for GBPUSD of differing concern based on what kind of trade I'd do.

If I am doing TA, I'd find the increase a little undesireable. NF's GBPUSD spread is only 4, IBFX varies and can drop down to even 3 at times. I remember OANDA can have as low as 2-3?

If I am doing News, this 5 pip spread would not matter as long as the slippage and fills are far better than elsewhere.

For me the 1 pip increase is not a big deal, I just thought it would have been nice of them to inform us. Oh well, apparently that's "not customary".

i take trading very seriously. but every challenge to me is fun. over the past two weeks i have landed well over 650 pips in demo. i know everything changes when your live and all that good stuff. but to land that many means im doing something right. alls im saying is that if the spread went up one pip everything will be ok. we still have our health, our family, friends, and knowledge to make 100 pips a day

i don't think they was loosing money how can they say that when ecn brokers or now showing 1-2 on gbp/usd.

I guess they should update their profile

http://www.forexfactory.com/index.ph...s&brokerid=130

I put market orders in during some heavy news release i.e nfp they or right when they say executions is second to none. what i like about fxsol is that you can trade the news all day long this is a good news trading brokers. 1 pip increase shoudn't matter to traders who trade the news. think about it platfrom barley freeze up 99% uptime and you can trade the news they have something good to offer. this is what fxcm was trying to be.

5 pip spread doesn't bother me as much as them not notifying us.

If reviews and changes in spreads on the pairs are rare then I can't see how hard it would be to send an email to all clients notifying them of the new changes when this occasionly happens. It's only polite.

Is it just me noticing it now or have other brokers done the same thing here?

IBFX has the cable spread at 5 pips now. And so does FOREX.com (Gain Capital, but I can't remember now wether they were ever any lower)