TradingPoint Spreads

Hi traders

I just about to fund my account with them. I saw this spread, it's really scary forex spread nowaday. Look at this

Probably because it's the weekend and spreads have widened.

However I still don't understand why people open account with less popular brokers. I mean it's probably decent but I wouldn't trust my money with any broker offering money to sign up or 500:1 leverage, they tend to be bucket shops. Just an FYI

Most banks keep dealing through the interbank exchange networks til about 5pm EST on Friday.

Equities close at 4pm EST on Friday.

That last hour sees only a fraction of the volume and liquidity, spreads widen a lot, and really they are only open to take advantage of anyone still wanting to get flat before the weekend hits.

Last tick usually has a wide spread because of this.

Wait til Monday at 10am EST to see what the spreads are like (earlier it will be tight as well but NYC/London overlap session is the most liquid.)

I've traded with Trading-Point for 6 months now. Best broker I've been with so far. Spreads recently have been down to around 1 pip for E/U. Not bad.

Although I've been hearing over the weekend they are starting to kick out US traders.

Currently, they don't allow new US traders to sign up with them.

spread on EU is usually around 2.3-2.6 pips 90% of the time.execution is decent with little to no slippage. it's better than most bucketshops that charge 1 pip but slips you two.

You can find detailed info about Trading Point spreads here. The current spread on EUR/USD is about 2.3 pips and the average spread for the last week is 1.9 pips. It's not hard to find a broker that offer lower spread during quiet market. However it seems that Trading Point manages to keep spread relative tight during news releases.