Hi All,
I am looking for help, I have a dispute with my broker over their wide spread during the NFP new release last Friday, they widened the spread on my account to 45 pips on the USDJPY stating this was a worldwide event and not just them making this happen.
I have been in email contact with another trader who traded the NFP and was at his computer when the news was released, he says his broker only spiked his spread by 6 pips, so I am looking for feedback from other trades you might have traded the NFP.
My broker claims that 45 pips was what all brokers were charging their clients worldwide and this was governed by the liquidity providers during the NFP news release due to lack of liquidity in the market and therefore was not under their control and they were not to blame.
I want to find out if they are telling the truth, I have asked my friend if he can get his broker to put in writing that their maximum spread was only during the new release it may turn out that 6 pips might be a little narrow and it might turn out to be nearer 20 pips, which would still be alright, I just want to prove that 45 pips was not the worldwide market standard, which my broker is claiming.
Regards
RT
I am looking for help, I have a dispute with my broker over their wide spread during the NFP new release last Friday, they widened the spread on my account to 45 pips on the USDJPY stating this was a worldwide event and not just them making this happen.
I have been in email contact with another trader who traded the NFP and was at his computer when the news was released, he says his broker only spiked his spread by 6 pips, so I am looking for feedback from other trades you might have traded the NFP.
My broker claims that 45 pips was what all brokers were charging their clients worldwide and this was governed by the liquidity providers during the NFP news release due to lack of liquidity in the market and therefore was not under their control and they were not to blame.
I want to find out if they are telling the truth, I have asked my friend if he can get his broker to put in writing that their maximum spread was only during the new release it may turn out that 6 pips might be a little narrow and it might turn out to be nearer 20 pips, which would still be alright, I just want to prove that 45 pips was not the worldwide market standard, which my broker is claiming.
Regards
RT
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