FX Spread Shocking To Me | Currency Futures

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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.

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