Broker has high spreads | Forex Factory

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Broker has high spreads

  • #1
  • First Post: Oct 12, 2022 7:14am Oct 12, 2022 7:14am
Hey all. I've had a live account with IG for about a month and I'm constantly seeing spreads over 7 pips for major pairs during open sessions. This is bananas. Is this normal? Seems excessively high to me. Forex.com never had spreads this high on major pairs. I think I need a new broker. What do you guys think?

They also repeatedly stop me from closing a trade when it's in profit by saying new quotes. It does this three or four times until price has decreased several pips then it closes.
If it were not so, I would have told you...
  • #2
  • Oct 20, 2022 1:19am Oct 20, 2022 1:19am
Quoting virgilcain
Hey all. I've had a live account with IG for about a month and I'm constantly seeing spreads over 7 pips for major pairs during open sessions. This is bananas. Is this normal? Seems excessively high to me. Forex.com never had spreads this high on major pairs. I think I need a new broker. What do you guys think? They also repeatedly stop me from closing a trade when it's in profit by saying new quotes. It does this three or four times until price has decreased several pips then it closes.
At Tickmill or Hotforex spreads on EURUSD, USDJPY are close to zero during London session (1 pip average). It is either a bug or you should definitely change your broker.
  • #3
  • Oct 20, 2022 4:43am Oct 20, 2022 4:43am
Quoting pizd0s
{quote} At Tickmill or Hotforex spreads on EURUSD, USDJPY are close to zero during London session (1 pip average). It is either a bug or you should definitely change your broker.
Hey thanks for responding. I think the bug was actually in m head lol. I thought some of the minors were majors. Still, IG seems to have excessively high spreads to me.
If it were not so, I would have told you...
  • #4
  • Oct 27, 2022 2:14pm Oct 27, 2022 2:14pm
try roboforex,hotforex zerospread,icmarket raw account,fpmarket raw account
  • #6
  • Mar 8, 2023 2:07am Mar 8, 2023 2:07am
HFM or hotforex, is alright, i do have an account with them, spreads are really manageable, LMFX seems to have a slight edge in terms of spreads. but it can actually vary depending on the situation so yeah.
  • #7
  • Jun 1, 2023 2:33am Jun 1, 2023 2:33am
Can we trust zero-spread brokers with commission? Are those brokers better than no commission but high spread brokers?
  • #8
  • Jun 17, 2023 1:46am Jun 17, 2023 1:46am
Quoting asrona
Can we trust zero-spread brokers with commission? Are those brokers better than no commission but high spread brokers?
Depends on stability of spreads obviously. Unfortunately you can't figure out this in advance only trade statistics will show the impact of spreads.
  • #9
  • Sep 5, 2023 3:17am Sep 5, 2023 3:17am
Anyone compared between coin trading (Future) and Forex trading, which is more volatile? I feel coin trading fee > Forex but never check them precisely.
  • #10
  • Sep 5, 2023 1:01pm Sep 5, 2023 1:01pm
I have noticed the slippage /Speads tends to change during different trading hours on most forex and prop firms. You can add the slippage/speads to your trading pairs on MT5, thats what i have done and it has made me adjust my SL a lot more before i enter a trade. As was getting wicked out on a lot of tight trades.

Also made me rethink my strategy in terms of what sessions i trade and to focus on tighter spread pairs.

To add the spreads to your MT4 or MT5 just do the following:

  1. Right-click on the market watch window and click on columns.
  2. From the options displayed, Click on “spread”

The spread value for each currency pair will then be shown in the market watch window.

For unbiased reviews check out https://www.secretstotrading101.com
  • #11
  • Last Post: Sep 7, 2023 12:25am Sep 7, 2023 12:25am
Quoting asrona
Can we trust zero-spread brokers with commission? Are those brokers better than no commission but high spread brokers?
Of course they can't operate at a loss. They either charge a mix of spreads and commission or only spreads but adding higher markup. But I prefer the former actually.
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