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Alpari UK enormous spread

  • #1
  • First Post: Feb 5, 2010 4:37am Feb 5, 2010 4:37am
I just experienced over 200 pips spread on EUR/CHF with Alpari UK which margin called my hedge. Anyone else experienced the same? What do you think that means may be Alpari doesn't have enough liquidity?
  • #2
  • Feb 5, 2010 6:03am Feb 5, 2010 6:03am
Had 40+ spread on CHFJPY. I'm thru with them.
  • #3
  • Feb 5, 2010 6:39am Feb 5, 2010 6:39am
Who are you with now?
  • #4
  • Feb 5, 2010 10:26am Feb 5, 2010 10:26am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting bmilanov
I just experienced over 200 pips spread on EUR/CHF with Alpari UK which margin called my hedge. Anyone else experienced the same? What do you think that means may be Alpari doesn't have enough liquidity?
This means on first place they are a bucketshop sucker company. Got yesterday ca. 50 times "invalid price" and "requote" when trying to place an order on the majors. Closed the account today.

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http://www.myfxbook.com/members/pc8multifx
  • #5
  • Feb 5, 2010 11:55am Feb 5, 2010 11:55am
Here's what Olsen, (the firm owning Oanda) said yesterday:
http://twitter.com/OlsenScale/status/8669994265

Others say it was a swiss intervention.

Maybe events like these will teach people that "hedging" doesn't hedge anything
  • #6
  • Feb 5, 2010 12:19pm Feb 5, 2010 12:19pm
Quoting Adal
Here's what Olsen, (the firm owning Oanda) said yesterday:
http://twitter.com/OlsenScale/status/8669994265

Others say it was a swiss intervention.

Maybe events like these will teach people that "hedging" doesn't hedge anything
You can expect 'heart-attacks' like this from any low liquidity pair. If a order isnt near the price has to jump to next closest price - sometimes that will be FAR away!! Welcome to the forex game.
  • #7
  • Feb 5, 2010 12:41pm Feb 5, 2010 12:41pm
Quoting bmilanov
I just experienced over 200 pips spread on EUR/CHF with Alpari UK which margin called my hedge. Anyone else experienced the same? What do you think that means may be Alpari doesn't have enough liquidity?
I was refused a live account with Alpari UK some months ago for no good reason and with no grounds for refusal quoted. I have a good credit history, with no adverse reports from anybody. I had never been refused any form of account - bank, trading or otherwise until then. Now I am so grateful that I was refused .- every cloud has a silver lining? - I think so. Giving the same account opening information to them, I was gratefully and graciously accepted at the time by ODLS, with whom I have remained since. Thanks ODLS, and no thanks Alpari.
  • #8
  • Feb 6, 2010 4:39am Feb 6, 2010 4:39am
Yep, it was an intervention.

http://ftalphaville.ft.com/blog/2010...sia-overnight/

BTW, EUR/CHF is known for interventions (even 400 pip jumps in a few minutes), so trading it with such leverage that a 200 pip move wipes you is not a wise thing to do.
  • #9
  • Feb 6, 2010 5:14am Feb 6, 2010 5:14am
Quoting Adal
Here's what Olsen, (the firm owning Oanda) said yesterday:
http://twitter.com/OlsenScale/status/8669994265

Others say it was a swiss intervention.

Maybe events like these will teach people that "hedging" doesn't hedge anything
Yes I was told by Alpari it was a swiss intervention. Whatever it was it seems it has not happened only at Alpari. I just wanted to know whether it happened only to me or to others. I have seen requotes at Alpari but I am trading long term and I don't care about the requotes. I did care about the spread though. I have never thought this could happen. I would understand 50 pips spread or so but 200 was quite extreme. You are absolutely right about hedging. It is nice to be allowed so you can open orders both directions but it cannot be used as a protection. To protect open trades and decrease risk seems the only way to do it is to close some of them instead of opening more in oposite direction.
  • #10
  • Feb 6, 2010 8:31am Feb 6, 2010 8:31am
Hello, i am beginer

When i have a money in alpari, can i lost more than my initial investment, that i will be in debt? i consider set up an account exactly in alpari.co.uk...if yes, it depends on broker or everywhere is the same?

thank for the reply
  • #11
  • Feb 6, 2010 9:57am Feb 6, 2010 9:57am
Quoting petertrader
Hello, i am beginer

When i have a money in alpari, can i lost more than my initial investment, that i will be in debt? i consider set up an account exactly in alpari.co.uk...if yes, it depends on broker or everywhere is the same?

thank for the reply
If you'd read their 60 page contract, you'll see that yes, you can lose more than your account. BTW, even brokers which say that you can't (like FXCM), only guarantee this in "normal" market conditions. Under "Force Majeure" you can remain in debt even to them. "Force Majeure" includes "Exceptional Market Event" which includes "excessive movement" and "loss of liquidity".

And that's from a broker which guarantees "no negative balance"
  • #12
  • Feb 6, 2010 10:02am Feb 6, 2010 10:02am
Alpari have stated that they will widen/increase spreads during Asia session on EURCHF and others.

They won't admit it but its due to the new Asia scalping bots freqenting the markets.

Scoobs.
  • #13
  • Feb 11, 2010 2:28am Feb 11, 2010 2:28am
How much do you guys think a spread can go wide? As I've seen 200 do you recon 1000 is also possible?
  • #14
  • Feb 11, 2010 2:30am Feb 11, 2010 2:30am
Quoting bmilanov
I just experienced over 200 pips spread on EUR/CHF with Alpari UK which margin called my hedge. Anyone else experienced the same? What do you think that means may be Alpari doesn't have enough liquidity?
Do you not read their T&C's ????????

They have stated clearly that they will increase the spread on EURCHF and others especially during Asia sessions. It would seem they are getting hit by very large Scalping EA's.

Scoobs.
  • #15
  • Feb 11, 2010 5:04am Feb 11, 2010 5:04am
Quoting scooby-doo
Do you not read their T&C's ????????

They have stated clearly that they will increase the spread on EURCHF and others especially during Asia sessions. It would seem they are getting hit by very large Scalping EA's.

Scoobs.
No I didn't. Though even if I have increasing is one thing. Who can expect multiplying by 100.
  • #16
  • Feb 11, 2010 5:39am Feb 11, 2010 5:39am
Quoting bmilanov
No I didn't. Though even if I have increasing is one thing. Who can expect multiplying by 100.
I dont think you understand retail forex very well.

Spikes often occur in lower TF's.

You should also be aware that several large hedge funds are betting against the EUR currencies. This is causing brokers and others to widen/increase spreads above normal market activity as they have potentially massive exposure.

So for the short term you can expect more of these issues from all brokers to occur.

Scoobs.
  • #17
  • Feb 11, 2010 9:18am Feb 11, 2010 9:18am
Quoting onu
This means on first place they are a bucketshop sucker company. Got yesterday ca. 50 times "invalid price" and "requote" when trying to place an order on the majors. Closed the account today.

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx

Take it easy pal. It's all about market. You should not blame broker that much.

Best
  • #18
  • Feb 11, 2010 4:33pm Feb 11, 2010 4:33pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting lavatrader
Take it easy pal. It's all about market. You should not blame broker that much.

Best
LOL since trading long time with them I know what I'm talking about. I cant ignore the facts anymore. I trade with some other (good!) brokers too and believe me its not always all about market... its just sometimes bad ethical behaviour of the broker...

Best

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http://www.myfxbook.com/members/pc8multifx
  • #19
  • Feb 21, 2010 6:43am Feb 21, 2010 6:43am
Anyone using Alpari Systematic here?
Would be very interesting to hear objective opinions. Thanks.
  • #20
  • Feb 21, 2010 2:58pm Feb 21, 2010 2:58pm
Quoting mikuzza
Anyone using Alpari Systematic here?
Would be very interesting to hear objective opinions. Thanks.
This is the exact tick data from MT4:
05.02.201004:04:02CET'FLEX.SPREADS'EURCHF1.477851.4842964.4
05.02.201004:04:06CET'FLEX.SPREADS'EURCHF1.478081.4848567.7
05.02.201004:04:09CET'FLEX.SPREADS'EURCHF1.472581.472862.8
05.02.201004:04:12CET'FLEX.SPREADS'EURCHF1.471201.472028.2
05.02.201004:04:12CET'FLEX.SPREADS'EURCHF1.471141.472028.8
05.02.201004:04:16CET'FLEX.SPREADS'EURCHF1.479011.4850760.6
05.02.201004:04:18CET'FLEX.SPREADS'EURCHF1.471161.471877.1
05.02.201004:04:18CET'FLEX.SPREADS'EURCHF1.470641.4718712.3
05.02.201004:04:27CET'FLEX.SPREADS'EURCHF1.477901.4846767.7
05.02.201004:04:35CET'FLEX.SPREADS'EURCHF1.477821.4841963.7
05.02.201004:04:40CET'FLEX.SPREADS'EURCHF1.477781.4842664.8
05.02.201004:04:47CET'FLEX.SPREADS'EURCHF1.475021.4833583.3
05.02.201004:04:52CET'FLEX.SPREADS'EURCHF1.468791.49040216.1
05.02.201004:04:57CET'FLEX.SPREADS'EURCHF1.469411.49040209.9

Scooby-doo is right though. I have improved the way I trade significantly after what happened. I still hedge but far from the extent I was before and I involve more than 1 currency pairs. After all modifications I applied to my system it seems the return will be actually higher than before. If this didn't happen I would have been too lazy to look at the system if it was just working.
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