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1 pips spread to all major pair??

  • #1
  • First Post: Aug 15, 2006 7:01pm Aug 15, 2006 7:01pm
Any one know about this broker? I found it from fxstreet .com

crownforex .com

1 pips spread to all major pair!! but i know this broker have the dealing desk.

They using MT4 as thier platform.
  • #2
  • Aug 15, 2006 7:13pm Aug 15, 2006 7:13pm
Quoting thiefnight
Any one know about this broker? I found it from fxstreet .com

crownforex .com

1 pips spread to all major pair!! but i know this broker have the dealing desk.

They using MT4 as thier platform.
If they have dealing desk and have fixed 1 pips spread they make their money a different way...think about it. This is bait and scam tactic...

There are ECN brokers that provide choice (0) spreads if you want to go that route you would want direct access to interbank market...
  • #3
  • Aug 16, 2006 6:51am Aug 16, 2006 6:51am
Quoting zarni
If they have dealing desk and have fixed 1 pips spread they make their money a different way...think about it. This is bait and scam tactic...

There are ECN brokers that provide choice (0) spreads if you want to go that route you would want direct access to interbank market...
Hi, Could you let me know which broker provide 0 spread?
  • #4
  • Aug 16, 2006 7:20am Aug 16, 2006 7:20am
If a broker offers a zero pip spread they will most likely charge you a commission instead....$15 per contract on a 0.5 lot = a 3 pip spread....
  • #5
  • Aug 16, 2006 8:19am Aug 16, 2006 8:19am
Quoting thiefnight
Hi, Could you let me know which broker provide 0 spread?
It's not so much that there are 0 spreads...THAT just doesn't exist. What this means is that you can trade WITHIN the spread effectively making you the spread maker.

For example...if the GBP/USD price is 1.9000/1.9004 you CANNOT place a BUY order for any price within the spread with any retail broker. It just won't happen. You could place a buy limit for 1.8999 or you could place a buy stop for 1.9005 (some places make even THAT impossible if the price is moving too fast).

With an ECN, you can place a limit or stop anywhere, even within the spread...thus making you the market maker. Obviously, they cannot guarantee a fill, but I don't think anyone with ECN trading experience has had a problem since the spreads are only a few pips wide most times anyway.

Now, do your research and make sure you find an ECN...not just a variable spread broker. Just because a broker has variable spreads DOES NOT mean you can trade within the spread.
  • #6
  • Aug 16, 2006 8:25am Aug 16, 2006 8:25am
Quoting mrmikal
It's not so much that there are 0 spreads...THAT just doesn't exist. What this means is that you can trade WITHIN the spread effectively making you the spread maker.

For example...if the GBP/USD price is 1.9000/1.9004 you CANNOT place a BUY order for any price within the spread with any retail broker. It just won't happen. You could place a buy limit for 1.8999 or you could place a buy stop for 1.9005 (some places make even THAT impossible if the price is moving too fast).

With an ECN, you can place a limit or stop anywhere, even within the spread...thus making you the market maker. Obviously, they cannot guarantee a fill, but I don't think anyone with ECN trading experience has had a problem since the spreads are only a few pips wide most times anyway.

Now, do your research and make sure you find an ECN...not just a variable spread broker. Just because a broker has variable spreads DOES NOT mean you can trade within the spread.
I am not talking trading within the spread - I am saying my broker does give me choice (0) spreads very very often and I do trade them. Interbank market works on choice very often actually. Now obviously ECNs most often charge a fixed transaction fee so you never really pay 0 to trade unless you are a bank
  • #7
  • Aug 16, 2006 9:30am Aug 16, 2006 9:30am
Their 1 pip spread is "Modifiable", so maybe it is only 1 pip on sunday from 3:30 to 3:45 am.
  • #8
  • Aug 16, 2006 10:01am Aug 16, 2006 10:01am
Quoting mrmikal
It's not so much that there are 0 spreads...THAT just doesn't exist. What this means is that you can trade WITHIN the spread effectively making you the spread maker.

For example...if the GBP/USD price is 1.9000/1.9004 you CANNOT place a BUY order for any price within the spread with any retail broker. It just won't happen. You could place a buy limit for 1.8999 or you could place a buy stop for 1.9005 (some places make even THAT impossible if the price is moving too fast).

With an ECN, you can place a limit or stop anywhere, even within the spread...thus making you the market maker. Obviously, they cannot guarantee a fill, but I don't think anyone with ECN trading experience has had a problem since the spreads are only a few pips wide most times anyway.

Now, do your research and make sure you find an ECN...not just a variable spread broker. Just because a broker has variable spreads DOES NOT mean you can trade within the spread.
My broker offers 2 pip spreads on some of the pairs and their spread is relatively small on other pairs. During the volaitile markets they sometimes increase the 2-3 pip spreads to 5 pips. Here are a list of some of the pairs and their spread:

Pair/Spread (when the market is calm)
EURUSD/2
USDJPY/2
AUDUSD/2
EURGBP/2
EURCHF/2
GBPUSD/3
USDCHF/3
USDCAD/3
EURJPY/3
CADJPY/4
CHFJPY/2 to 4
Other pairs /5 pips or more

But before jumping to any conclusions I should mention that they have a dealing desk. My experience with them is not that much to recommend or even suggest them. I've had never a major issue with them though.
  • #9
  • Aug 16, 2006 10:08am Aug 16, 2006 10:08am
Quoting aparsai
My broker offers 2 pip spreads on some of the pairs and their spread is relatively small on other pairs. During the volaitile markets they sometimes increase the 2-3 pip spreads to 5 pips. Here are a list of some of the pairs and their spread:

Pair/Spread (when the market is calm)
EURUSD/2
USDJPY/2
AUDUSD/2
EURGBP/2
EURCHF/2
GBPUSD/3
USDCHF/3
USDCAD/3
EURJPY/3
CADJPY/4
CHFJPY/2 to 4
Other pairs /5 pips or more

But before jumping to any conclusions I should mention that they have a dealing desk. My experience with them is not that much to recommend or even suggest them. I've had never a major issue with them though.
Spread is almost meaningless if not taking into account other factors - dealing desk presence/absence, liquidity (look at the ticks per minute), execution speed etc..
  • #10
  • Aug 16, 2006 4:10pm Aug 16, 2006 4:10pm
EFX Group has tight spreads expecially when things get moving. They do charge a commission instead of jacking up the spreads during news. Their spreads go up and down all the time. The more volitile it is the tighter the spread. And unfortunately it seems a little toughter to get your order through. During busy runs all majors have a 1 or 0 spread. Even EUR/JPY gets to 2 or 3. I've seen GBP/JPY as low as 3.

So if spreads really do tighten during busy times and most dealing desk brokers raise their spreads during those times, news time must the brokers
money making time more then we all thought.
  • #11
  • Aug 16, 2006 4:36pm Aug 16, 2006 4:36pm
Quoting phxdale
EFX Group has tight spreads expecially when things get moving. They do charge a commission instead of jacking up the spreads during news. Their spreads go up and down all the time. The more volitile it is the tighter the spread. And unfortunately it seems a little toughter to get your order through. During busy runs all majors have a 1 or 0 spread. Even EUR/JPY gets to 2 or 3. I've seen GBP/JPY as low as 3.

So if spreads really do tighten during busy times and most dealing desk brokers raise their spreads during those times, news time must the brokers
money making time more then we all thought.
there is a difference between ECN and retail. when the markets moves that fast a retail broker can get wacked because they guarantee the quote (at least some of them) and by the time they execute the order the market may have moved 10-20 pips in either direction. that is why they widen the spread - because of volatility. they need to cover their ass.
  • #12
  • Aug 16, 2006 6:01pm Aug 16, 2006 6:01pm
Quoting phxdale
EFX Group has tight spreads expecially when things get moving. They do charge a commission instead of jacking up the spreads during news. Their spreads go up and down all the time. The more volitile it is the tighter the spread. And unfortunately it seems a little toughter to get your order through. During busy runs all majors have a 1 or 0 spread. Even EUR/JPY gets to 2 or 3. I've seen GBP/JPY as low as 3.

So if spreads really do tighten during busy times and most dealing desk brokers raise their spreads during those times, news time must the brokers
money making time more then we all thought.
Newbie question:
How do brokers make money except charging spreads & commission?
I read if we make money then they lose. Is that true?
I just don't know how things work exactly.
Thx
  • #13
  • Aug 16, 2006 7:33pm Aug 16, 2006 7:33pm
Quoting jeqcho
Newbie question:
How do brokers make money except charging spreads & commission?
I read if we make money then they lose. Is that true?
I just don't know how things work exactly.
Thx
Many different ways but some of which are shady - like tampering with the quotes so your SLs get hit. Shutting down during volatile times...delaying your trades through dealing desk so they can trade against you...list goes on and on.
  • #14
  • Aug 16, 2006 8:18pm Aug 16, 2006 8:18pm
Quoting zarni
Many different ways but some of which are shady - like tampering with the quotes so your SLs get hit. Shutting down during volatile times...delaying your trades through dealing desk so they can trade against you...list goes on and on.
So if we lose money when SL hits, do they take it?
Who gives money if we win?
  • #15
  • Aug 16, 2006 8:29pm Aug 16, 2006 8:29pm
Quoting jeqcho
So if we lose money when SL hits, do they take it?
Who gives money if we win?
THink about this I am the broker.
One trader sends a stop order to sell USD and another to buy. I can effectively manipulate and delay orders in such a way as to get more than the spread between the orders so that I have 0 risk. These are all internal trades! Effectively I AM THE MARKET to some extent when i am a broker with dealing desk. At some point the dirty laundry comes out but by that time there have been loads and loads of people scammed and millions stolen...
  • #16
  • Aug 17, 2006 7:42am Aug 17, 2006 7:42am
So far, they have processed most of my trades in less than 5 seconds. At the news time they processed two of my trades in about 30 seconds and for one of them they asked me whether I accept to requote which I denied. The tick per minute varies from time to time. I'll probably give it a try in the future to probably compare it with others. I found out that the Demo server tick per minute is different from their live server. That's a good assignment to work on.

Quoting zarni
Spread is almost meaningless if not taking into account other factors - dealing desk presence/absence, liquidity (look at the ticks per minute), execution speed etc..
  • #17
  • Jul 6, 2007 11:57am Jul 6, 2007 11:57am
Well I was thinking of opening a live account with them as they seemed to be good and most of all they have nice 1 spread on GU which i think can make a nice profit..
So I just wanted to know your opinion shall i go for them as i have not heard about them much but they have some IB's in my country too. They gave me one IB's contact info but he is not available i have asked them for more IB's but still waiting for there reply (anyways i reside in India)

Please post your opinion on Crown forex in this thread.
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  • #18
  • Jul 6, 2007 1:44pm Jul 6, 2007 1:44pm
If you are going to use a dealing desk broker, your priority is not the spread. The first important thing is you don't get reqoutes. If you are trying to get out of a losing trade, imagine where you will be by the time your broker have given you enough reqoutes. Or a wining trade is reqouted enough times till it becomes a losing trade.
Second, when you are offered 2 pips spread, do you really get your trade executed at the price you click? Believe me - it is just nice for your eyes 1 or 2 pip spreads. The reality is different. Say BUYING price Eur/Usd is 1.3500, You click. If price moves against you to 1.3499 or lower, your trade will be execute. If price moves to 1.3501 or above you get a reqoute. Do you pay 2 pips round trip ? NO - you actually pay 4 pips ! See the trick? They don't play this trick on you on Demo. It comes when you go live !! Go to www.realtimeforex.com Whether demo or live, their platform is the same. Your trade is executed at a fraction of a second. IMMEDIATE ! ! No reqoute. You get what you click.
Third, look at the swap. Just imagine. When you go long GBP/JPY you get interest 2 pips. When you short it, your swap is minus 10 pips. A fair broker has small difference on swap interest on long or short position
  • #19
  • Jul 7, 2007 4:42am Jul 7, 2007 4:42am
Quoting highway3000
If you are going to use a dealing desk broker, your priority is not the spread. The first important thing is you don't get reqoutes. If you are trying to get out of a losing trade, imagine where you will be by the time your broker have given you enough reqoutes. Or a wining trade is reqouted enough times till it becomes a losing trade.
Second, when you are offered 2 pips spread, do you really get your trade executed at the price you click? Believe me - it is just nice for your eyes 1 or 2 pip spreads. The reality is different. Say BUYING price Eur/Usd is 1.3500, You click. If price moves against you to 1.3499 or lower, your trade will be execute. If price moves to 1.3501 or above you get a reqoute. Do you pay 2 pips round trip ? NO - you actually pay 4 pips ! See the trick? They don't play this trick on you on Demo. It comes when you go live !! Go to www.realtimeforex.com Whether demo or live, their platform is the same. Your trade is executed at a fraction of a second. IMMEDIATE ! ! No reqoute. You get what you click.
Third, look at the swap. Just imagine. When you go long GBP/JPY you get interest 2 pips. When you short it, your swap is minus 10 pips. A fair broker has small difference on swap interest on long or short position
Well as you are saying that requotes would happen i was just wondering like if i but at 1.3500 and the price moved at 1.3499 then it would be my benefit and more over the requotes are entriely on my wish to accept it or not. They are not gonna execute it without my wish.

and after loosing money i have now made it my habbit it put SL and also TP in my order.

So I think this precaution make's little bit difference and also is 256 kbps internet connection (shared) okay to trade as I think it can also cause some problem.
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  • #20
  • Jul 9, 2007 12:21pm Jul 9, 2007 12:21pm
Quoting Invest_Master
Well as you are saying that requotes would happen i was just wondering like if i but at 1.3500 and the price moved at 1.3499 then it would be my benefit and more over the requotes are entriely on my wish to accept it or not. They are not gonna execute it without my wish.

and after loosing money i have now made it my habbit it put SL and also TP in my order.

So I think this precaution make's little bit difference and also is 256 kbps internet connection (shared) okay to trade as I think it can also cause some problem.
Stay away from Crown. And requoting always hurts you.
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