Gaincapital spreads?

[chuckee]

Hi,
I was about to sign up with GainCapital for their wireless trading facility, and I thought their spreads were 4-5 on the major pairs, but then I noticed on their main page the table on the left http://www.gaincapital.com which gives the bid/ask for the different currency pairs. Is it just me, or are GainCapital's pip spreads really, really large all of a sudden?
Cheers

[chuckee]

Hey,
here is the reply that GainCapital sent to me about this (I was seeing 15-20 pip spreads a few hours ago but now they are back to 4-5 pip spreads):

The information you saw on the website is actually correct. This phenomenon is exclusive to Sunday nights, when the market is extremely illiquid and the only banks open are in Australia.

The spreads tighten to our normal 4 to 5 pip spread within the hour or so, and thus, by 6:30, the normal spreads show on both the live and the demo platform.

[currencia]

They forgot to add, "and when we have a big overhead of staff on hand with not many traders trading yet! Then, we increase spreads to cover our facility costs better."

A 20 pips spread each half turn, plus a shade tree, plus lousy execution at the moment means that U R paying 30 to 40 pips each half turn just to do a trade with them during this time! That means U R paying a 600 dollar fee to trade a thousand bucks (at 100:1 lever & 100k lot size). They might as well keep their doors closed till Monday!

[E.Schott]

So I guess this is really not conduct becoming of "The Universe's largest Forex dealer - ever" according to their website .... Oh yeah - I forgot - They're nowhere near the largest - They just like to lie and say they are... to fool us.

Oh well - I guess it's our fault then for trading with them. Stupid me...