Enormous CFD Spreads

Had a sell position on Skillz from yesterday.

At the beginning of this trading day, I got stopped out at 3.40, even though the price hadn’t even crossed 3.30. I checked after 20 min to see if the spread has come down (maybe, low liquidity for a few seconds?) and it’s still around 10%.

I understand there are higher spreads on CFDs, but 10% is just preposterous. How is this even allowed?

Yep noticed this too. seems to be a blanket 20-30c spread for some reason. Maybe they dont want us to make money

Same here with CLOV, SDC and BBIG! Huge spreads today, and it can’t be to do with low volume as this is quite high today. Something funky is going on and it’s making trading impossible…

CLOV and SDC in Etoro incidentally are perfectly normal so it seems to be specific to T212

Yes, it is terrible. And it looks like it has something to do with t212 mobile app update… Hope they will make adjustments asap…

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Wow. I was on just on tech support being fobbed off with generic answers about liquidity etc when clearly today was highly unusual, so I pressed for a specific answer as to what was going on. Suddenly the chat closed with no explanation and the spread was back to normal. Strange!

This was using the PC desktop interface btw, not the mobile app

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Yes it is normal now. But i imagine how many people were stopped because of this glitch from trades… Sad story… I also was given generic answer of liquidity, but i follow market, and know, that this kind of imbalance could be first 5 minutes, not 30…

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What’s happening with the cfd spreads today? This morning they were $0.20 - $0.30 on US stocks. Now they are $0.05 - $0.07, normally they are $0.02. Is this some new rule?

Well, some time ago, T212 announced that they reduced spreads by 50% as i remember. it was maybe 3-4 months ago. And now it looks like they reversed this decision…

Tesla’s spread is just fine.

Generally speaking, spread is based mostly on liquidity. The more liquidity, the better spread. But maybe T212 team can offer us a better explanation on this issue.

Yes, because i follow three tickers… Hood, Atvi, NIO, and i noticed…
For hood it was 1-3 cents spread; now 4-7 cents;
Atvi - it was 1-3 cents’ now 6-8 cents;
Nio 1-3 cents; now 4-8 cents;

And if you try daytrade, and not swing trade, every penny counts…

That’s why daytrading is so difficult. I prefer swing trading or long-term trading instead.

Hm, currently 3 cents for HOOD. But anyway, this topic here is talking about 10%, which is orders of magnitude more. What are the raw spreads for such stocks? Probably also orders of magnitude greater that HOOD, TSLA, or APPL.

well, yes, what happend yesterday with spreads was terrible. but as we can see it was fixed, at least a bit. but still not to last weeks level. and if you look at other borkers, or level 2 you would see, that most of liquid stocks has spread of 1-2 cents. but in t212 we trade without a fee for trades, so they add those extra pennies from spreads to their pocket instead of direct fee. And about swing trades, those overnight fees adds up also. especially of you go long.