Bought some gold today and was doing well until the price difference between buy and sell suddenly changed from $1 to $5 .Same thing happened when I made an FX sale. Any ideas on why this has happened?
Spread is a dynamic value - might get increased if the volatility is increased or the liquidity dries out. You can read more on it here:
Peter isn’t the spread supposed to mirror somewhat the real market spread? And you guys just add a set % increase.
As David said in an older thread a few months back: “Spreads are marked up with a set %, we don’t tinker with them ourselves. If raw spread goes up, our does too, if it goes down, so does ours.”
Take for example Scottish Mortgage on CFD.
On the LSE the spread is 1.50 pence.
The spread is 1000% wider on T212 @ 15.9 pence. Yesterday the difference was 1500%. So am I right in saying that T212 increases the spread by up to 1500% on this stock?
I would expect this on some crappy penny stock but not one of the most popular trusts in the UK. What is causing this massive difference between T212’s spread and the official spread?
edit: Spread is now 1600% higher than the official LSE spread.
Bought some Argo block chain - if course penny stocks. But at 36p, sell price 32.76. I was not warned about this difference when I bought this. T212 should have clearly mentioned this in the confirm order screen! I lost around 9% straightaway. This is unacceptable. I want to complain about this.
It is the spread. It isnt controlled by T212 and it is your responsibility to do due diligence before placing a trade.
Where did you find this information on your screenshot?
That screenshot isIG. But you can see buy and sell prices on T212 when you scroll down when looking at an instrument.
Great. Thanks for that