Upgrade retail account to tier 1

[rajsi]

Hi there, 

Newbie trader in ig.com. Is there any way, we can reduce the spread paid, something like upgrading basic retail account to some advanced account. 

Not eligible to qualify for pro account, but have just paid 10 pips as commission for Aussie US pair and it stung 

[Caseynotes]

1 hour ago, rajsi said:

Hi there, 

Newbie trader in ig.com. Is there any way, we can reduce the spread paid, something like upgrading basic retail account to some advanced account. 

Not eligible to qualify for pro account, but have just paid 10 pips as commission for Aussie US pair and it stung 

Hi, the min spread for audusd is 0.6 and the average is 0.76 however the spread will widen temporary during high volatility especially around a news release so it may have widened to 10 around 1:30 pm for the US CPI data but probably only for a minute or 2.

[rajsi]

1 minute ago, Caseynotes said:

Hi, the min spread for audusd is 0.6 and the average is 0.76 however the spread will widen temporary during high volatility especially around a news release so it may have widened to 10 around 1:30 pm for the US CPI data but probably only for a minute or 2.

Thanks @Caseynotes. I missed mentioning, this was for forward, not the spot. 

Is there any way like depositing more money to have better spreads. Of course, I cant do 500K

[Caseynotes]

Ok, well unfortunately no, the forwards are always going to be more expensive because you wont be paying any overnight funding so providing the trade stays open long enough then it will work out a lot cheaper than a spot market trade anyway.

The EU regulator recently banned all broker 'inducements' one of which was  preferential spreads for selected clients so not much IG can do, at least that I'm aware of 😕  

[rajsi]

Ah, @Caseynotes,  so no way for swing traders but to pay up.

 

Thank you very much for your responses. Cheers!