OANDA's 15 pip cable spread

notouch · Jul 10, 2006

What's with OANDA's 15 pip cable spread? I saw it this morning around the time of the UK PPI release. How can they justify a 15 pip spread (5 times their normal spread) around the time of a medium volatility release? There is a lot of praise for OANDA on this forum but this seems like the sort of thing a bucket shop would do.

ElectricSavant · Jul 10, 2006

At least they tell you before they do it....

Lon Eagle · Jul 10, 2006

Did they?

naz9403 · Jul 10, 2006

Quote from notouch:

What's with OANDA's 15 pip cable spread? I saw it this morning around the time of the UK PPI release. How can they justify a 15 pip spread (5 times their normal spread) around the time of a medium volatility release? There is a lot of praise for OANDA on this forum but this seems like the sort of thing a bucket shop would do.

Get over it, or you can just go to fxcm where they just won't let you trade. All brokers are upping the spread during news. Something you have to deal with if you want to trade at a bucket shop.

Pro_Trader720 · Jul 10, 2006

Quote from notouch:

...seems like the sort of thing a bucket shop would do.

That's why I stick to currency futures and don't do any FX. I still don't trust the FX markets enough.

Wallace · Jul 10, 2006

http://fxtrade.oanda.com/resources/spreadstats/spreadsminmax.shtml

notouch · Jul 10, 2006

Quote from naz9403:

Get over it, or you can just go to fxcm where they just won't let you trade. All brokers are upping the spread during news. Something you have to deal with if you want to trade at a bucket shop.

We're talking UK PPI here. I don't know of any other broker that ups the spread to 15 pips during this release. Even UK spread betting companies let you trade this and have better spreads.

MrsSavant · Jul 23, 2006

I have recently noticed Oanda has changed their algorithm to give more frequent fine tuned spreads. It variates much more often by decimals at times...have you guys noticed that?

DrawDown · Jul 23, 2006

Quote from MrsSavant:

I have recently noticed Oanda has changed their algorithm to give more frequent fine tuned spreads. It variates much more often by decimals at times...have you guys noticed that?

Did ES hijack your PC, MS?

sccz97 · Jul 24, 2006

Quote from Pro_Trader720:

That's why I stick to currency futures and don't do any FX. I still don't trust the FX markets enough.

I think you'll find spreds on 6B around most uk or us announcement got to at least 8-10 pips wide also. Solution? Don't trade if you can' handle the increas in spread