Brokers with 2 pips and lower spreads on the EUR/USD

Discussion in 'Educational Resources' started by NickBarings, Oct 15, 2005.

  1. Hi,

    I would like to make a list of brokers with 2 pips and lower
    spreads on the EUR/USD.

    Oanda 1.5

    InterbankFX 2

    Currenex < 2

    Any more ?
  2. Steve_IB

    Steve_IB Interactive Brokers

    Interactive Brokers
  3. Every ECN-type forex broker will offer 2-and-under euro spread most of the time. In addition to the 3 named above (InterbankFX, Currenex and Interactive Brokers), better-known ECNs include:

    - COESfx
    - FXall
    - HotspotFX

    The non-ECN, bucketshop-type market makers (NOT brokers) will have a hard time offering sub-3-pip spread. That's because, as a routine part of their business model, they must set aside a portion of the spread from each trade to compensate the introducing brokers (IB's, not to be confused with Interactive Brokers), on whom they depend heavily to bring in new business. If there are any such sub-3s, I'd be curious to see their names.

    Oanda is neither an ECN nor uses IB's, and can afford, through high efficiency and nearly 100% automation, to offer 1.5 spread on euro most of the time.
  4. just bringing this up..