Unusually large spreads

Why are spreads on CFDs so abnormally large today?

One instrument (INO) in particular has had a 60c - $1 spread throughout the session when normally it would be 18-25c (still high) and I know many others are similar.

Volume is normal so this can’t be it.

This is a $10 stock, how can we trade with a 10% spread?

Does this have anything to do with the inability to buy positions and hedge open sells on many other instruments too?

Quite concerning.

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High volatility with low volume.

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Thanks for your reply.

This is a volatile stock and I’m not seeing any significant discrepancies in the volatility or volume today, in fact the volume leading up to and after open seemed relatively high I thought.

The large spreads seem to be echoed on the T212 subreddit and other forums.

i also found so.
Most of time my stock is about 0.2~0.3% spread.
But today is around 0.6~0.9%. Cannot trade anything with this abnormal spread.

TBH I noticed higher spread today than usual even in indices, thought it is just high volatility.

I think I’ve learnt to live with T212 spread, for the cheaper stock with wide spread and use Invest.

Hi Alien,

Thanks for your reply.
The most traded stock for me is: BYND, PYPL, SE, TDOC, even for MSFT, they all have unusual higher spread than normal (more than double).
I did not check every stock, but it seems they all have higher spread today.

Hope it will be back from tomorrow.

spread really varies I find, some have shocking spreads due to low volatility and those more active tend to be pretty tight. if this one is usually rather active then it could be that its related to other ongoing issues and may close the gap a bit as the week progresses?

I agree. SPX500, US 30, BIDU, LLY, HPQ, … all have unusual spread today, up to 2% for the cheaper stock.

The only thing I see with normal spread is Gold!

Good observation. Active CFD traders should trade with caution. GLA.

Granted the spreads are larger in after hours but this is just absurd.

Came down from $1.70 spread.

The UI is having a hard time determining whether this is a -0.50% loss for the day or a +4.00% gain as it twitches and fluctuates with actually barely any price movement.

Seems like a great way to force a margin call.

This coupled with the inability to open any hedges across a high number of popular instruments is nightmare stuff.

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I noticed that spreads were horrific the last couple of days also. Not just after-hours. Some tech stocks I keep an eye on had a $2 spread at some points in the middle of the day.

I also noticed that interest rates are sky rocketing for going long.

Here’s Tesla’s interest for going long. Almost 4 times larger than short. Earlier on today it was “only” twice as large.

Seems like they’re trying to shake people off the popular stocks.

Or stop somebody out of a trade. “Stop loss is too far from current price. Please bring it closer… yes… Closer…” Ring a bell?

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I have noticed the buy and sell price completly exaggerated. The volatility with candle wicks is crazy. Also I cannot buy any more crypto. It’s all looking very suspect. Thinking about moving my funds.

Ps the top is kraken bottom is t212. Same time frame and zoom !

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It’s not just those stocks it’s all crypto too…

I can see these candlesticks too on the 1m chart starting yesterday all of a sudden and this implied volatility doesn’t seem to appear on external sources I’ve checked.

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Crypto CFD is a different story I thought… It’s getting shut down by the UK government

I didnt trade all day because of this then check my kraken account and was all fine. I heard many traders on coin base got locked out yesterday.

Yes I did hear that, states that open trades can stay. But strangely I cannot add more trads to let’s say eth

I’ve noticed this as well… especially in cfd.
Normally it’s 0.2-0.3 cents spread. This week its more of a dollar spread on my usual stocks

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Could we please have a word from T212 on this?

I and others are having to add capital to our accounts to cover large spreads from share price drops or volatility that seemingly doesn’t appear to exist elsewhere. There is clearly an uptick of volatility on spreads and candle wicks on T212 over the past 36 hours across instruments.

Until there is another explanation given this seems like manipulation.

Thanks.

Cc. @David @Martin

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Yes, this needs an official explanation ASAP.