FX Spread Shocking To Me | Currency Futures


futures.io - futures trading strategies, market news, trading charts and platforms


Currency Futures


This subforum allows you to find traders that trade Currency Futures. You may post about anything to do with trading currency futures in this section




 

FX Spread Shocking To Me

  #14 (permalink)

Calgary, AB
 
Trading Experience: Intermediate
Platform: NinjaTrader, MT4
Favorite Futures: Forex
 
Posts: 5 since Sep 2012
Thanks: 3 given, 0 received


StockHunter View Post
I scalp forex all the time. You just need to pick more active pairs (some of the top ones are EUR/USD, USD/JPY, GBP/USD) and trade them during their respective market hours. Your broker could also be bending you over on spreads. I use Oanda and 99% of the time (the other 1% is when spreads spike for a few minutes on news) I get 1pip spread on EUR/USD during the london and new york sessions.

I'm not a big Oanda fan (though I have used them and still keep a small account with them) but you're right, even with scalping the spreads shouldn't be too bad during peak times. If your spreads are the size of a 5 minute bar then something is VERY wrong. Either you are trading in an off-time where the market is absolutely dead or your broker is giving you ridiculous spreads.

Reply With Quote