How to choose a broker with low spread?

Discussion in 'Forex' started by Coner1980, Apr 15, 2021.

  1. How spread effect which a broker offers to make a good profit in Forex trading and which broker you suggest for a new trader to start trading?
  2. padutrader


    pepperstone.......take spread and commission.........they are true ecn and i used them for 10 years
  3. El Trado

    El Trado

    More important is chosing a broker that is not a scam. So ensure whomever you chose is regulated, have been in business a while and have a good reputation.

    I would recommend Oanda
    ckpoker and Nobert like this.
  4. wmwmw


    Oanda has huge spread.

    Pepperstone is no cheap either.
  5. El Trado

    El Trado

    The spread differs during the day and differs per instrument. But yes, Oanda has a bigger spread than many others.

    This is because they actually will pay out your money when you win and not do any funny business to have you lose.

    A lot of the cheapest forex brokers are scams. They will never pay out your money, close your accoubt if you win and so forth. That’s why they will provide extremely good spreads, because they have no intention of pay out your money.

    So be very aware about just picking the cheapest. Ensure you pick the cheapest that are regulated, have a good reputation and will be there in a year. Otherways a low spread doesn’t mean anything
    SunTrader likes this.
  6. wmwmw


    A lot of people think most forex brokers are scams.
    But they themselves never met one scam broker.
    The scam is in their imagination.
  7. cvds16


  8. Fxview has good spreads.
  9. tedmos38


    To know the quality of the spreads, ask the broker that where does they get their prices from. Also the names of their servers.
  10. low spreads broker is more appropriate for the traders who are particularly scalpers. actually spreads is n important financial tool which an investor should consider when choosing a broker.
    #10     Apr 17, 2021