The forex *roll* occurs every day at 5PM NY time (10PM London time) which is the official change from one day to the start of the new trading day. Spreads widen every day at the roll. Getting stopped out here is from lack of knowledge NOT broker manipulation.
Pips difference in brokers?
- Thread starter Elison0
- Start date
The forex *roll* occurs every day at 5PM NY time (10PM London time) which is the official change from one day to the start of the new trading day. Spreads widen every day at the roll. Getting stopped out here is from lack of knowledge NOT broker manipulation.
The roll happens at 10pm precisely ... and yet there was a FULL HOUR of off-market pricing, 20 pips away from institutional pricing. How on earth do you think that's OK? Clearly they use it as a cover for cashing out and running their customers.
Noone bar noone got any fills at the lower levels either, to stop anyone arbing them.
Noone bar noone got any fills at the lower levels either, to stop anyone arbing them.
Any difference that could exist probably does not exist, because it would be arbitraged to being non-existent. Even if it did exist, you are already getting burned by a horrible spread, forcing one to trade in a higher time frame where these variables are irrelevant.
There is no central exchange. Dealers can quote you whatever they want. With DeFi you are at the mercy of your Dealer.
Valiant effort to educate the gullible ... who just don't want to hear.
Gets in the way of their ignorant outrage, that it is someone else that is to blame for their own failure.
Erm not really, I don’t use them, just pointing out the hideous shading between Reuters interbank time and sales tick data vs metascrotes. Don’t think it needs some dramatic exposition.
Agree, it doesn't. Because it aint.
Its call competition, same as what all retail businesses do. Otherwise it would be called collusion.
Don't like a certain FX broker and their quotes, choose another.
Most retail FX traders, using that term very loosely, don't know that they are paying the offer and selling the bid putting them already in a loss from the start. Also that the "trades" that are plotted on their chart .... are not trades at all. It is either the bid or ask change, almost always the bid change.
Anyway a few pips are meaningless in the grand scheme of things if they have a true edge. Almost all do not, therefore they bitch.
Note that I'm no making a judgement on any one particular poster, but if the shoe fits.
I think differences in pips across different brokers during times of high market volatility are not uncommon and don't necessarily indicate theft or wrongdoing on the broker's part.
We can all come up with a litany of retail sins but you're gone off track. Quick recap then.
- do brokers screw you with pricing and is it theft in retail fx?
- yes and yes - here's an example using interbank pricing, so do your due diligence properly.
- ET - stop yer moaning, it's fine! I love being rinsed like a rube.
Just bonkers but if you're happy I'm happy - I've made my point.