Is it reasonable to have such a huge spreads (20 pip spreads) in EURCHF?

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I've just started my trading journey with ICMarkets. I placed a EURCHF trade with at 0.97232 with TP: 0.9680 and SL: 0.97345 at 11 Aug 202213:03. The trade later hit SL at 0.97360 at 12 Aug 2022 00:01. However, I found the maximum bid price was only 0.97160 (20 pips spread) at 12 Aug 2022 00:01 when I looked at the 1-minute chart. When I asked the IC Markets support team, they said it was not a mistake and the ask price did rise to that level. 

Even though it might be volatile during market opening hour, I wondered as there were no big news events, is it really reasonable to have 20 pip spreads for a pair in any brokers?

 
TC N:

I've just started my trading journey with ICMarkets. I placed a EURCHF trade with at 0.97232 with TP: 0.9680 and SL: 0.97345 at 11 Aug 202213:03. The trade later hit SL at 0.97360 at 12 Aug 2022 00:01. However, I found the maximum bid price was only 0.97160 (20 pips spread) at 12 Aug 2022 00:01 when I looked at the 1-minute chart. When I asked the IC Markets support team, they said it was not a mistake and the ask price did rise to that level. 

Even though it might be volatile during market opening hour, I wondered as there were no big news events, is it really reasonable to have 20 pip spreads for a pair in any brokers?

Hi there,

In my opinion yes, it seems pretty reasonable and I would expect that. (Even more if you do not pay any commission / swap for instance). I work with some brokers having EURCHF at 15-16 pip spread even in normal timings. 

Though however, you can surely find brokers with lower spread, but higher commissions (usually 5 USD per standard lot).
 

Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
My GBPJPY shows average spread = 26 points, but average maximum spread = 134.
My EURCHF shows average spread = 18 points, but average maximum spread = 106.

 
TC N:

I've just started my trading journey with ICMarkets. I placed a EURCHF trade with at 0.97232 with TP: 0.9680 and SL: 0.97345 at 11 Aug 202213:03. The trade later hit SL at 0.97360 at 12 Aug 2022 00:01. However, I found the maximum bid price was only 0.97160 (20 pips spread) at 12 Aug 2022 00:01 when I looked at the 1-minute chart. When I asked the IC Markets support team, they said it was not a mistake and the ask price did rise to that level. 

Even though it might be volatile during market opening hour, I wondered as there were no big news events, is it really reasonable to have 20 pip spreads for a pair in any brokers?

Look carefully at your closing time, it is  at 00:01, that's the time the day changes (for GMT+3 ICMarkets accounts) and spreads are going through the roof for all symbols and brokers.

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