I trade with
Online Stock Trading | MB Trading Direct Access Brokerage Firm
They are an ECN. THERE IS NO FIXED SPREAD IN FOREX. Tell them THE RUMPLED ONE sent you.
You can google and find out what I really think about "FIXED SPREAD BANDITS".
I'll leave it at that so I don't get banned.
How do I avoid the spread?
I explained this to someone yesterday in an IM.
With EFX you pay a commission rather than having a "FIXED SPREAD".
It's "apples and oranges" so don't try to compare. "THE MATRIX HAS YOU" and you need to "FREE YOUR MIND" to understand what I am about to explain.
Let's say the current bid/ask is 1.5010 x 1.5015
The current spread is 5 pips.
You want to SHORT.
You SHORT at 1.5010.
You set a TP at 1.5005.
Bid/Ask becomes 1.5005 x 1.5009 and the current spread is 4 pips.
At EFX, you will get filled if the bid is 1.5005 and someone TAKES your offer.
Bid/Ask is now 1.5004 x 1.5009 and YOU HAVE YOUR PROFIT.
Note: the ASK never reached 1.5005. THIS IS IMPORTANT!
If you entered this order at a FIXED SPREAD BANDIT, whoops I mean broker, your order is STILL OPEN!!
The bid/ask must become 1.5000 x 1.5005 and your order HITS the Ask.
DO YOU GET IT?
If not, then read this over and over and over again until the LIGHT BULB goes off!!
The day I found out about EFX is the day I opened an account there and stopped trading with FIXED SPREAD BROKERS.