In search of good spread...

[jan200]

hello,
i just have finished building up a very good strategy for euro-gbp which worked very fine when all of the brokers started to increase their spreads. all of them provide a 2 pip spread (which would be perfect for my purpose)... but in case of "abnormal market conditions" they just raise it to 4 or 5.
does anybody know a broker providing a fixed 2-pip-spread on euro-gbp?

 

[Masquerade]

I've got 3 on alpari - but i've noticed the spread increasing too. I think I saw 5 yesterday for about 10 minutes, but it's been 3 all day.

 

[jan200]

yes, at night it is extreme. i have seen at alpari a 5-pip spread and at master fores a 10-pips soread. i only trade at night which makes the conditions even worse. thats why i am in search of a really fixed spread

 

[options]

IG keep their spreads fixed, but 'off hours' you'll get played.

 

[jan200]

means that the spread inceases at night? would make it useless for me

 

[options]

No. The spreads are fixed. Cable is 3 all the time.

 

[jan200]

i just talked to alpari. they said that they are going to lower the spread by introducing a new system next year. i dont know if that can be taken that serious.

 

[Masquerade]

No. The spreads are fixed. Cable is 3 all the time.

Afraid they're not - they'll vary it if they have to. It wasn't long ago when it was very volatile they were running a spread of about 12 on cable. Those were crazy days.

 

[options]

What IG? I've never seen it vary (or not noticed it).
ftse etc at night yes, but not cable.

 

[jan200]

well i dont know. i didnt test them. but day spread at fxpro is at 0,5 - 2 . important to me is nightspread

 

[ns1000]

I would have thought that if 2 pips extra makes the difference between you being profitable and not, then you won't be trading with any broker for long. Sounds like your trying to scalp prices, and will be shut out.

ECNs can't guarantee spreads, and overnight these days spreads on EURGBP are wider than 2 pips on the interbank market. Only marketmakers like IG will offer fixed spreads, but if you're trading very short term for a couple of pips, they won't be interested in your business.

 

[jan200]

no i am not scalping. and yes it makes a big difference between 2 and 4 spread