I work as a developer in a quantitative analysis firm. I cannot name brokers, but I can confirm that many apply dynamic spread forced during news to protect themselves... or to win with stops. It is not illegal, but questionable. Review the terms of the contract. If the broker has room to modify execution conditions in exceptional situations, they are telling you in the face that they will.
I got two SLs in less than 5 seconds and the chart didn’t even show the fuse. I sent them an email to support and they answered me with a template that didn’t even review the case. Conclusion? If there’s no transparency, run away. Now I’m looking for a real STP execution broker. Cheap comes out expensive.
Honestly, if you've been doing this for years and you still don't know that the broker is your first enemy, you don't have a future in trading. That's how raw. I've operated for 8 years and I've been through it all: MM, ECN, hybrids. They always win. The key is to know their tricks and protect themselves.
The worst is when the spread does not appear on the screen. I mean, your SL jumps, but the graph does not show why. Where is the candle? Where is the fuse? That is called silent manipulation. Always record your operations. So at least you have proof to fight.
Thank you for opening this thread. Not everyone dares to talk about this. There are too many blinded people with top brokers who are actually rats in suits. If we all document what happens to us, we can put pressure on regulators. This can’t go on. I hope this thread stays alive. You said: Give me a long response of 5 high-value paraphos and 6 short ChatGPT Plus responses
I have read all the thread and honestly it seems to me fundamental that this type of conversations continue happening. What many novice traders do not understand is that dynamic spread is not only a measure of protection of the broker, but a tool that, in many cases, rubs the ethically questionable ones. When a broker acts as a market maker, it acts as a counterpart. What does this mean? That if you lose, he wins. And if that broker can expand the spread arbitrarily just before a news, it has a perverse incentive to do it: remove yourself from the medium and pocket your loss. The most worrying thing is that there is no immediate visual way to verify if that spread really expanded in the way that they show it. Some platforms do not leave you as a customer as long as possible, which makes your account almost impossible to make an effective complaint. Even if you make screenshots, the technical support of the majority of brokers responds to you by using automated emails. The most worrying thing is how to make sure that this is done.
Another addition to the list: with ICMarkets the spread in EUR/JPY jumped me from 0.5 to 6.7 for no clear reason. Literally, there was no news at that time.
It's just that if the broker has a money table, you know what to stick to. He's not an intermediary, he's your opponent.
The same thing happened to me with FXTM. Spread from 0.9 to 7.3 in milliseconds. Anyone else?
Very good thread. It opened my eyes with some details that I overlooked. Thank you for sharing your experiences.
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