Now I'm trading Eur future. but I'm curious which one is better between Eur future and EurUSD forex. Can someone kindly let me know which one is better in terms of transaction cost, bid/ask spread, trading hour and etc. By the way, my brokerage is IB. Thanks.
I presume you refer to 6E contract on GLOBEX. In this case your questsion shouldn't be in the Eurex section of the forum... Anyway, transaction costs are lower with the futures; the tick in cash Euro with IB is half-pip while it is 1 pip in futures. If you execute only market orders you will likely get better fill in cash currency than the futures but it's not true during volatile periods... especially if you order is stop-loss. There are a few threads on this board that discuss the difference between cash currency and futures in more detail.
Posted in wrong thread.. but anyway, transaction costs tend to be about the same in the long run once everything is accounted for. A (true) ECN such as dukascopy is ideal if you have the margin. If not, go with the 6E.