GBPUSD reaches 7pip appropriate now.
EURUSD, USDJPY, AUDUSD are in 1pip.
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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'.
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
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.Originally Posted by ;
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.Originally Posted by ;