Pip spread on Interbankfx

Good god. Anyone log on today? I just logged on to find that EURUSD has a 6 pip spread. USDCHF has an 8 pip spread. USDJPY has a 6 pip spread. That's insane. What's this all about? They just do this on sunday?

GBPUSD has a 9 pip spread.

EURCAD has a 16 pip spread.

They don't have a fixed spread...SO...I suppose they can feed whatever they feel is the best price.

Right now, MBT is showing a 2 pip spread on the Eur/USD and a 4 pip spread on the GBP/USD which is actually high...but it would seem to me that on sundays, when trading is thin spreads widen.

yeah, it went back to normal after an hour.

They have been wide every sunday night, and even end of day friday for the past few weeks.

I understand they are having some issues with their bank, even using a temporary bank right now, that is feeding wide spreads around news and even in low volitility times.

I use market orders with small profits limits and count on the 2 pip spread to make it happen. Sometimes with IBFX, I'll have a MO hit and be 5 pips upside down because of a wide spread. It usually corrects itself quickly.

I'm discouraged with IBFX as a whole right now... shopping brokers for this an a bunch of other reasons.

what method do you use to scalp if you don't mind me asking.

I'll second the question about your scalping method. but i want to share some info regarding brokers to get us all on the same page.

regarding IBFX they are now clearing through UBS so you will see spreads change dynamically from now on. hopefully we no longer have to deal with insane requotes. times are a changin' and the ole' bucket shops are out of fashion. now everybody needs to be with the bank feed to avoid being taken by the fundamental traders out there. if you don't know who this group is look for my group of fundamental traders on this forum.
http://www.forexfactory.com/forexfor...+traders+group
we are always one step ahead of course. so we are looking for other brokers and developing software constantly.

i'll ask the pertinent question on this thread; who do you recommend as a broker?
i'll also answer with what i'm learning at the present.
IBFX is not who i recommend but they are taking steps in the right direction.
Oanda is not the best but if you are a small trader they offer big time opportunities.
interactive brokers is good from everything i've seen. i'm developing software for their platform that will kill news.
currenex is sweet with choice spreads and excellent execution. so excellent it will be patented soon.
if you wanna talk shop shoot me an email. i think i'm available on this forum otherwise check out my thread for the fundamental traders group. let's get the truth out there for all of us to live a better life while trading. like a pro trader named billy from knovamind once said to me, "it's the lifestyle first...then the trading."
billy goes through hotspotfxi. i think they are on a level with currenex if you ask him. i don't know if they are technically as advanced as currenex.
btw i know a guy that can get everyone free esignal if you open an account with gain and trade 15 minis a month. no joke.

If a low spread is your main criteria Interactive Brokers charges a commission of 0.2 pips per trade. But the ask/bid spread is still there on the market and that can vary huge.

In my view Oanda's spreads are the most consistent in the business, hardly ever surprising you in a bad way. When Oanda widens their spreads it's not like you could get better deals anywhere else either.