2-pip GBPUSD spread

[JTrader]

Hi

Worldspreads offer a 2-pip GBPUSD spread between 0800-1600 UK time.

What other spreadbet brokers/forex brokers offer a 2-pip (or lower) GBPUSD spread?

Cheers.

 

[shadowninja]

That is good as long as fulfillment times are not an issue!

 

[Rhody Trader]

What other spreadbet brokers/forex brokers offer a 2-pip (or lower) GBPUSD spread?

According to a table Oanda has posted, 2.5 pips is the current low among the dealing-desk type brokers for GBP/USD.

OANDA FXTrade - Comparing the Spreads of Different Forex Brokers

I'm sure the ECNs can show lower spreads at times, but of course there's no guarantee.

 

[Phil Mibbutz]

There was a company offering zero (yes, really) spreads for a while. Lasted about three months before they went pop, I believe.

 

[atomm]

There are many complaints about spreadbet brokers and I have an impression that most of them give very bad trade execution if you are a consistent winner. The manipulation at a spreadbet broker is worser than a spot forex bucket shop.

Anybody have experience with Worldspreads ?

 

[Crap Buddist]

Hi

Worldspreads offer a 2-pip GBPUSD spread between 0800-1600 UK time.

What other spreadbet brokers/forex brokers offer a 2-pip (or lower) GBPUSD spread?

Cheers.

What happend to worldspreads 1 pip spread against dollars ? that all blown out and over with now then ? And what spreads do worldspreads offer at 2.37 AM ?

And do worldspreads offer instant dealing or do they screen some punters still ?

 

[FXSCALPER2]

If anybody says they would offer 2 pips on GBPUSD, charge no commission and execute trades instantly, use your head and realise it is bullsh'it. It cannot be done. It is too obvious. I don't really care what they promise. I know they can't do it.

 

[JTrader]

According to a table Oanda has posted, 2.5 pips is the current low among the dealing-desk type brokers for GBP/USD.

OANDA FXTrade - Comparing the Spreads of Different Forex Brokers

I'm sure the ECNs can show lower spreads at times, but of course there's no guarantee.

Thanks guys.

Yes, dealers like oanda, and ECN's like EFX group are likely to be close to or lower than 2 pips on GBPUSD at times, but there spreads are not constantly this low, and are variable/widen at volatile market times.
At least with an ECN, and oanda also, you don't need to worry about broker manipulation of order execution speed etc. but then profits are not tax free as with SB profits.

 

[JTrader]

There was a company offering zero (yes, really) spreads for a while. Lasted about three months before they went pop, I believe.

I never heard of this one. What was their name?

Cheers.

 

[Crap Buddist]

was it this one ?

I never heard of this one. What was their name?

Cheers.

Taken from the Zero PIP SPREAD Thread... :idea:

Hi ImranQ - I agree - there must be a catch!

But if retail brokers are so bad, and if they do "screw you", manipulate the market (due to their conflict of interests - profiting from clients losses) - as seems to be the case from reading these discussion boards, it amazes me that -

A) They have any clients - given the poor service and conflict of interests
B) Any clients they do have are profitable and are able to generate a living

I'm not saying that they don't screw clients - but if they do (and I believe that they do so at times), why do people trade with them?

Hi Faris

Haver had a look at ForexVan zero pip spread information @ - Forexvan.com & Forexvan.com.

With a zero pip spread on spot forex and commission free index, futures and CFD trading - how exactly can/do they make their profit? WHAT IS THE CATCH?

Their world offices are based in the British Virgin Islands - does this tell us something?

Many thanks

jtrader.

ho,ho, holy smolly new years resolution, must improve powers of memory recall.


But hows about this for a tickle taster up and coming.... the punter will get paid a spread to open..... huh.. huh..... :idea: Dont say it wont happen...... thats what they said about satellite tv's and home computers....... .......

Jingle bells all.

If ya see Arthur C Clarke. tell him he's fired....... ohh I think he might of been by now..... god bless ACC.

 

[JTrader]

ForexGen - forexgen.com - 1 pip spreads on 10 pairs.

CROWN FOREX
1 pip spreads.

In the FAQ, both state they have problems with scalpers. This makes me think they are just another scam.

 

[JTrader]

EFX: Experience Forex Freedom
Spreads as low as 1/10 of a pip.

EFX is a direct access ECN with no middle-man/dealing desk. You can trade between the spread also.
They charge $10 per round turn per lot (100,000).

It would be interesting to know/see what their typical spread on GBPUSD was during UK trading session hours. Any insight welcome.:?:

Cheers .

 

[Rhody Trader]

EFX: Experience Forex Freedom
Spreads as low as 1/10 of a pip.

EFX is a direct access ECN with no middle-man/dealing desk. You can trade between the spread also.
They charge $10 per round turn per lot (100,000).

It would be interesting to know/see what their typical spread on GBPUSD was during UK trading session hours. Any insight welcome.:?:

I haven't specifically watched GBP/USD, but I have seen EUR/USD (and EUR/CHF too, I think) actually reach negative spreads at times (infrequently, obviously) and zero spreads quite often during high volume periods.

 

[laptop1]

If anybody says they would offer 2 pips on GBPUSD, charge no commission and execute trades instantly, use your head and realise it is bullsh'it. It cannot be done. It is too obvious. I don't really care what they promise. I know they can't do it.

You are absolutely correct I had first hand experience with them. Its a ploy to get your business. They hope you are in the 95% that lose Then they will leave you trade all day long.

However, if you are the 5% who wins at this game. They will play tricks on you to spoil your trading. I have warned JTrader but live and learn I guess.

 

[FXSCALPER2]

EFX: Experience Forex Freedom
Spreads as low as 1/10 of a pip.

EFX is a direct access ECN with no middle-man/dealing desk. You can trade between the spread also.
They charge $10 per round turn per lot (100,000).

It would be interesting to know/see what their typical spread on GBPUSD was during UK trading session hours. Any insight welcome.:?:

Cheers .

Outside of news times, you can get 1-2 pip spreads on GBPUSD. $10 is the commission for pairs with USD as a primary currency (USDJPY, USDCAD, etc). For the GBPUSD the rate is roughly $20 per round trip per lot at today's exchange rates. You get slipped and partialled a lot. Talking just about cost, they are not better than CS, for example.

 

[FXSCALPER2]

ForexGen - forexgen.com - 1 pip spreads on 10 pairs.

CROWN FOREX
1 pip spreads.

In the FAQ, both state they have problems with scalpers. This makes me think they are just another scam.

If a broker says they will let you trade with a 1 pip spread and no commissions on GBPUSD , you should expect lots of problems and, if you are a good short term trader, expect to be stopped.

No broker is going to allow people to scalp GBPUSD all day long with a 1 pip spread and no commission. It is not their fault: it just cannot be done. Realise that, forget about it, trade with 3 pip spreads and try to make money. Don't waste your time.

 

[karmit]

Just wondering why would anybody (i.e UK based) want to go non-SB for forex?

No tax, spreads aren't too bad on the majors, easy deposit/wdrwl etc...

Are there any specific reasons to go to Oanda/ FXCM etc?

I currently use SB platforms to trade the indices and thinking of looking into
forex again when this question came up in my mind.

comments appreciated.

Cheers and a Happy New Year 2008!

 

[vincetesta]

You are absolutely correct I had first hand experience with them. Its a ploy to get your business. They hope you are in the 95% that lose Then they will leave you trade all day long.

However, if you are the 5% who wins at this game. They will play tricks on you to spoil your trading. I have warned JTrader but live and learn I guess.

Just a quick question:
Exactly what kind of tricks do Worldspreads play on you to spoil your trading?
I'm with them and need a some insight in this as I just cannot afford to have tricks played on me, so if you can help me out on this, I'd be most grateful.

Regards to all and Happy New Year.

 

[laptop1]

Just a quick question:
Exactly what kind of tricks do Worldspreads play on you to spoil your trading?
I'm with them and need a some insight in this as I just cannot afford to have tricks played on me, so if you can help me out on this, I'd be most grateful.

Regards to all and Happy New Year.

Personally,. I WOULD NOT TRADE WITH WORLSPREADS let me make that clear..WS marketing material is misleading because it will not allow your trades to be executed instantaneously, They cover all the angles, because they know someone will complain. They made life hard for me placing me on reffral up to 30 to 45 secounds...Exaple, long the Dow Futures, lets say 13500, and the market went against me by 10 points they would fill me,I had no choice in the matter, I had to go long 10 ticks below where I wanted to go long. I had a box saying check your open positions."it felt like your are filled take that sucker".

Now if the market went my way, I could wait anything from 20 to 50 seconds for a fill, then eventually I would get a different message saying, I had 3 seconds to confirm a price usually about 5 ticks above the market price. Basically because I was making money, they played tricks on me. AND THEY WILL DO IT WITH YOU IF YOU WIN.......most don't say nothing because most lose money...

I phoned them to ask whats going on, they said. We are entitled to either accept or reject a proposed trade and entitled to check any price that I wanted to deal at by referring me to a dealer before accepting my bet. saying their Terms and Conditions reserve the right not to accept any bet from any particle client for whatever reason it seems fit. I told them, basicaly you got me by the ba11s...They went on to say there are plenty of spread bet firms around if your are not happy sir...I told them, you only want lossing traders and put the phone down.

PS fins done the same sort of thing, but with them it was the platform going down all the time.I now trade with direct accses Berkeley's Futures with great support from them, with no platform going down and no silly tricks that the spreadbetter play.

Just before I left WS, I wasted a few quid trading small to get all the screen shots of all the trade boxes that I had to contend with. PM me with your email and I send you all the screen shots how they play tricks with you.

 

[JTrader]

Just wondering why would anybody (i.e UK based) want to go non-SB for forex?

No tax, spreads aren't too bad on the majors, easy deposit/wdrwl etc...

Are there any specific reasons to go to Oanda/ FXCM etc?

I currently use SB platforms to trade the indices and thinking of looking into
forex again when this question came up in my mind.

comments appreciated.

Cheers and a Happy New Year 2008!

No, i don't see the point of using an non-SB bucket shop, over an SB bucket shop. Both have the potential to offer a dubious service. Therefore i'd rather go with the tax free option for as long as possible. Once one starts playing silly buggars, move onto the next SB.

I have a futuresbetting account, and they seem like a strong option as there is NO manipulation whatever. I have yet to trade from it though, as the margin requirements are steeper than elsewhere.