Trade what you see - Not what you think
Should Trade with Broker offering low spread or wide spread? 12 replies
Fixed spread broker with 1 pip spread or less? 36 replies
Any fixed spread broker with exactly 2.0 pip spread? 3 replies
Variable spread vs FIXED spread & broker comment/feedback 6 replies
1pips spread is showing as 18 spread, anyway to overcome? 1 reply
Quoting stockwetDislikedIBFX is well known for expanding their spreads. There are a couple things that brokers do to retain profitability during highly volatile time periods. Slipping prices is one method, widening the spread is the other. You'll go with one broker that has bad slippage and another that has nasty spreads. At some point, you'll want to work with an ECN where you have many backend market makers and banks and a transparent feed to all of them.Ignored
Quoting summitfxDislikedThere is a popular thread that popsup here a lot that says GET OVER IT. Ok I'm over it!
CheersIgnored
Quoting summitfxDislikedAfter complaining on the IBFX site I got this response. I was shocked that the spreads could actually be "fixed" by a customer service person. It was a strange confesion! here it is for those interested-I trade with real money so I find their can be costly for me yet they get hostile if the spreads are out of whack
"Oh please... like we sit around all day and just watch the spreads. Marilyn is in marketing, and she is one of the busiest people here; do you know how much planning goes into the trade shows? And what about all the planning just for advertisements? If all we did was trade all day then YES, we would know immediately when the spreads out of wack, but since we have jobs to do we ARE suprised when things aren't the way they should be. By no means am I hinting that the wider spreads is "okay", and we should (and will) work to get it back to normal as soon as possible. All I'm saying is cut Marilyn some slack.
I don't believe it... if business was ran the way everyone on this post thinks it would be we wouldn't be where we are today. No, we're not perfect, nor will we ever be.
Also, since Marilyn is in marketing she isn't in the position to get a platform problem fixed right away. IF YOU HAVE A PROBLEM, CONTACT CUSTOMER SERVICE and it will be fixed asap (I am in cust service, so right after I read this post I called and got the spreads fixed within 30 seconds).Ignored
Quoting smjonesDislikedSummit, I am a little confused. Why did you call marketing instead of Customer service in the first place? Or was that where your were directed?
Also, I have to agree with you, who ever was speaking certainly needs to improve their CS skills.. Who was the speaker? and do you have a transcript of the conversation that is missing? This seems chopped up...
Would be interested in reading the entire thing... thanks ScottIgnored
Quoting summitfxDislikedAnother Quote:
We don't control it, but we can do something about it when its not right.
_________________
adAM
Lets go skate.
I'll get off of my soapbox but I've just learned that when the spread on the USD/JPY suddenly widends to 4 pips instead of the usual 2 that it's a mistake and Customer service can fix it and perhaps issue a refund. We as traders should not accept everything they brokers put on us. Here's proof!Ignored
Quoting summitfxDislikedThey have a Public Forum. I know they advertise so it's tricky for you. I'm just fed up with all the BS on spreads. It seems wrong that they flucuate so widely. I'm never been one to accept the unacceptable! I'll drop it. If you trade real MONEY- you shouldbe concerned with flucuating spreads! Maybe collectively we can force change. It's happened before.Ignored
Quoting smjonesDislikedSo are you saying that they normally give you a 2 pip spread when they post the normal at 3 pips, even on their advertising? How is this refund handled?Ignored
Quoting smjonesDislikedNo, that is not it. I am trying to get an idea of what your complaint is...
What did they charge you? And I agree the person on the phone was not very polite... Thanks ScottIgnored
Quoting summitfxDislikedI'm dropping out of this dicussion. It seems pretty self explanatory to me. Most times the spread on the us/jpy is 2 but the last fews days it's been 4. If you trade say 5 lots that adds $100 to your trading costs. Right? You Follow?
So you investigate and they say sorry it's the Banks. Then suddendly, a Customer Service person jumps in to say -I can fix this and magically the spread goes back to 2. Something stinks?
People on this forum allow the brokers to do anything and then say stop your whinning- Idiots in my opinion. I'm signing off for good!
Later!Ignored
Quoting smjonesDislikedNo, that is not it. I am trying to get an idea of what your complaint is...
What did they charge you? And I agree the person on the phone was not very polite... Thanks ScottIgnored
Quoting smjonesDislikedSummit my firend I can see that this has made you angry. I am not trying to defend IBFX I was just trying to figure out how much we are talking about. and by what criteria... Thanks for your explanation. I also will let it drop.
I hope your day improves, ScottIgnored
Quoting summitfxDislikedScott as you know you pay the difference in spread so I'm being falsely charged if the spread has widened to 4 when perhaps it should be 2 or 3 and maybe according to the customer service agent it was out of whack and should be fixed. Come on you trade it's not complicatedIgnored