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Thread: Ikon Royal spreads

  1. #21
    GBPUSD reaches 7pip appropriate now.

    EURUSD, USDJPY, AUDUSD are in 1pip.

  2. #22
    Many months back, I might have agreed with some of the aged glowing reviews of IKON found elsewhere.
    Unfortunately, Ikon's bid-ask quote spreads have recently increased -- markedly.

    Perhaps they could not earn enough money with the older narrow spreads?

    Today (Late August - September 2008), their spreads have often doubled in comparison with their bid-ask spread quotes provided months ago -- and spreads jump (spike) more depending on market requirements).
    When volatile, the 'ask' price often jumps such that order-fills are very likely to cost an extra few pips - however, the MT4 chart shows the bid, and you don't see how the ask prices were varied.
    Also, now see regular requotes (perhaps such requotes must be expected from market-maker dealing desk brokers).

    IKON's customer support was great. Metatrader4 platform.

    Problem is, 'the bottom line is the bottom line', and I am no longer comfortable about trading Forex with them.
    Hopefully, they might someday choose to go back to their [older] competitive bid-ask spreads - IMO, otherwise they are 'background'.

  3. #23
    Yes I Concur.

    Their spread is actually ridiculous.

    Here is it in 0727 ET, live account:

    EU 3
    UJ 2
    GU 3-4
    GJ 10
    EJ 4
    AU 4
    UC 3

  4. #24
    I'm continuing on to a new broker shortly enough.

  5. #25
    Quote Originally Posted by ;
    Yup I agree.

    Their spread is truly ridiculous.

    Here is it at 0727 ET, live account:

    EU 3
    UJ 2
    GU 3-4
    GJ 10
    EJ 4
    AU 4
    UC 3
    Those ranges will be the very same spreads from the ECN space now (except for EU, that is a bit tighter 1-2), they have been wide since the Lehman bankruptcy. In fact, a 4 pip spread on AU is far better than what I'm seeing on a number of ECNs.

  6. #26
    Quote Originally Posted by ;
    Yup I agree.

    Their spread is actually ridiculous.

    Here is it at 0727 ET, live account:

    EU 3
    UJ two
    GU 3-4
    GJ 10
    EJ 4
    AU 4
    UC 3
    Yes those are actually pretty great spreads for today markets. You could try out a new broker, but you're not likely to do some better (probably worse) I don't believe. With the latest market upheaval, matters aren't the same anymore; it's a whole new world now.

  7. #27
    Thanks for the info.

    Guess I'll be staying with them some time more.

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