Tightest spreads

Discussion in 'Forex Brokers' started by Razor, Jan 2, 2008.

  1. Razor


    Hi :D

    Pretty new to this FX thing but not to trading.

    Was trying the FXCM demo out and noticed that even during major session times and the major pairs that most were 3 - 4.5 pip spreads. Someone pointed out to me that this was pretty bad and spreads should not be over 2 pips. I looked into Oando and found this table showing the various spreads from diff brokers and was wondering if someone that trades FX can comment on a platform that gives them consistent 2 max spreads....Oando any good ?


    Someone else was also telling me that the problem with FX is that when news hits your stops are not honoured and you basically get run over. I said OK, I can stay out during news releases and they basically said that FX news comes out constantly and most times unannouced so it's a no win situation. Comments on this please ?

    Thanks for the help.

    Cheers :D
  2. In my opinion they are the best.
    But is only my opinion.

    By the way I use them.:) And never had a problem.
  3. Razor


    Cheers for the reply....do you find that spreads during the major sessions are 2 pips and less consistently ?


  4. Depends on the pair, chum.

    Just wanted to say chum.

    But seriously, it depends on the pair.

    EUR/USD- yes.

    USD/TWD- more than likely not.
  5. Razor


    Cheers matey :D

    Yes, FXCM was giving me 4 point spreads on things like gbp/usd, eur/usd, usd/jpy etc which is what I was concerned about.

    Thanks again !


  6. Here's yo0ur first problem with this view. You are looking at a demo. You won't know true spreads until you open an account or you catch someone who will share this info.

    Now with your request in hand, you are looking for 2 pips. May I ask, which pair(s)?
  7. Razor



    Looking for max spreads of 2 during the New York 8am est session on eur/usd, usd/jpy, gbp/usd, Asian session 8pm est on usd/jpy, london / europe session, 2/3am est on the eur/usd, gbp/usd.


  8. You guys need to look at the ECNs: IB, MBT/EFX, and Hotspot FXr. 0.5 - 1.5 pip spreads on the majors during active hours, and the ability to trade within the spread.

    3 - 4.5 pip spreads on the majors is robbery.
  9. Razor



    I think the main difference is with IB you need to find and pay for FX charting software and also you have to trade 1 lot minimum for like $2k per lot and no minis ?

  10. The spreads in Oanda's game platform are exactly the same as it's retail platform.
    #10     Jan 3, 2008