HONESTY … WHERE CAN I GET SOME?

“At least this guy is honest … doesn’t say much for scumbag LP’s!”

And right on cue, like he came straight out of central casting, here’s Coinexx’s

response to my email questioning the veracity of their crude oil LP’s

… remember, on Friday I sent them 2 pics of their spreads versus PLUS500.

Directly below, their response.

Dear Barry,

This is in respect to the inquiry you have made on support for spreads on oil.

Our average spread on WTI crude oil is 2-3 pips. please be advised that we are pure ECN

broker and provide direct liquidity from the LPs. Spread may get wide depending on the

movement, volatility and liquidity in the market hence you might see higher spreads at

the time of high volatility like news time or when there is low liquidity in the market like

during market closing or opening time.

Feel free to get in touch should you require any further information; we would love to help

you out with it!

Cheers & have a great day!

Coinexx Support!

Email: sgarg@coinexx.com | Website: https://coinexx.com/  | Questions? Just ask at Live

Chat

Of course, he addressed nothing of what I asked, so I wrote back.

You fail to address the points I raised in my email. The fact is, while your LP's widened

spreads to unreasonable levels, PLUS500 maintained a WTI crude oil spread of 2 cents.

Please further explain to me how they can do that but you can't, seeing how they have

the same oil conditions as Coinexx. Simply look at the two pics I sent you that show they

beat your spread by a mile. So, my question is, why can't you get their LP's for oil, instead

of the thieving LP's we're stuck with at Coinexx? And furthermore, your oil spread is not

consistently 2-3 cents; that's hogwash. All it takes is a small bump in volatility, and your

LP's see the opportunity to widen the spread to 4 - 5 cents, for reasons of pure greed. In

other words, if PLUS500 can maintain 2 cent spreads in volatile conditions, why can't

you? Stop giving people the idiotic response of "DUH, market conditions, DUH"!

Regards,

Barry

Apparently not liking my response, support wrote back from this.

Dear Barry,

Please be advised that every broker has a different set of LPs hence the spreads or prices

may vary from broker to broker. as we are pure ECN broker, we provide the same variable

spreads directly to the clients from the LPs and spreads totally depends on market

movement, volatility and liquidity hence fluctuation is expected. We are connected with

major LPs from across the world which cannot be changed and provide the best bid and

ask prices across all instruments including forex, commodities, indices and crypto

currencies.

Which natch, elicited another reply from me.

NO, you do NOT provide the best bid/offer spread in WTI Crude Oil ... are you blind? ... do

you not see the side-by-side comparison of WTI spreads with Coinexx versus PLUS500? In

the first example, you are at 5, they are at 2 ... the second example, you're at 7, they are at

2. Try and convince me again you have the best spreads! And as for your MAJOR LP's

FROM ACROSS THE WORLD, who you somehow think are giving us the best deal ever,

I've proven to you and Coinexx that this is a LIE. So, whom does PLUS500 use for their

Oil spreads? And why don't you use them? Or, as I'm beginning to understand, you

simply take part of the spread along with commission, so that makes giving clients a

higher cost of doing business OK from your perspective. STOP lying to people, because

as I have proven, you don't come anywhere close to having the BEST BID/OFFER

SPREAD in WTI Crude Oil.

And with that, they slinked off to a safe space, no doubt.

One algorithm buy signal today in crude oil … not much in it, and again way

too much risk for the reward … up a few cents … the chart from the M5

directly below. One algorithm buy signal today in crude oil … not much in it,

and again way too much risk for the reward … up a few cents … the chart

from the M5 directly below.

click on chart to enlarge

Just like the SP500, not much you can do, when you come into the day to trade,

and we already got a 2$ + range going … what’s left for New York? … and

again the answer is not a “Hoover Dam” thing except chop. So, onto tomorrow

… until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas