I use backtesting software to test various strategies I develop as well as learning the ins and outs of automated trading in the currency market. 2 Questions if anyone can assist me: 1. I have been using currency futures data and also spot forex data to backtest strategies. Since spreads can be all over the place in both, how do you best incorporate the spread dilemma into meaningful backtests? (I would like to trade 1 minute bars). 2. As a small player relative to trade lot size (less than 10 contracts), does anyone have an opinion on best instrument to trade in the currency markets? I.E. FUTURES VS. SPOT FOREX? is one significantly more liquid that spreads are considerably tighter? Thanks for your comments.