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I took a look onto FXCM tick data, EURUSD for 2017 week 51 in particular. From 875293 ticks, 211108 (24%) have ask=bid and 123746 (14%) ask<bid.
What does a zero or negative spread of spot fx tell me - just a nice liquidity or something more? Is somebody here involves it as indication/indicator for trading? "During the last hour, the fraction of ticks with negative spread was way higher than usual" or something like this.
Can you help answer these questions from other members on NexusFi?
Since FXCM works with multiple liquidity providers, bid and ask prices may come from different providers at the same time. There can be instances when the difference between those prices (the spread) is negative.
The ask price is the price you need to look at when you are trying to buy, and the bid price is the price you need to look at when you are trying to sell. Under FXCM's Non Dealing Desk execution, there may be times where the price you can buy at is equal or even slightly less than the price you can sell.
Jason
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