Are the low spreads really worth it?

Broker Discussion Forex Brokers
1

I’ve been looking around for a broker with MT4 and low spreads. I’ve tested IBFX (spreads seem high) and Alpari UK which is around the same.

I heard about fxpro.com, which advertises quite low spreads AND MT4 which seems to be a combo I can’t find elsewhere. Sounds good, but I read some reviews on orders being filled with a lot of slippage on live accounts. Being a semi-scalper, accuracy is needed.

Anyone here used/been with fxpro? Keep in mind this is different from fx-pro.com which seems to have died off. I’ve talked to some users who don’t have too many bad things to say about them but would like to hear from members here also.

Any input greatly appreciated!

2

When I go live I think I will go with forex.com, they have decent spreads, free eSignal and MT4 mobile, oh and their eSignal is hosted so you can sign in from any computer

I havent heard anything horrible about them and so far their customer service is ok and placing orders is kinda straightforward.

lol this sounds like spam :eek:

3

lol follow my other threads and you’ll know why I’m looking for a broker like this. Just looking for anyone that’s with these guys and has any opinions.

'Nuff said.

4

right on, sorry my post supplied zero useful information. At the time I thought it was relevant because forex.com has low spreads MT4 and eSignals…

forex.com/trade_pricing.html

5

I looked at forex.com. They don’t offer MT4, rather their own trading platform unless I’m missing something. Spreads look nice however MT4 is a must for me.

6

They do offer MT4, check the link. Forex Trading signals | Forex.
I would recommend you use a ECN broker seen that you will be scalping.

7

Can’t beleive I missed that haha, thanks for the link. What ECN would you suggest I look into? Recommendation?

8

I have no recommendations seeing that I dont use one(forex.com is also my broker). The reason I suggest you use one for scalping is that they offer very tight fixed spreads but you have to pay a commission per trade.
You can look into MBTrading, and Interactive Brokers.

9

it seems like at the end of the day, if your paying a low spread, but have slippage, then whats the point… however even the wider brokers will slip you from time to time…
stay away from Market Makers or Dealing Desks (IMO)

10

Hi soul786, speaking about fxpro I had some experience. First of all it is MarketMaker, well known and lot advertised, but MM which means that there will be no way for you to make a lot of profit by scalping. I believe that they pay all money back, but it not suites for my style of trading.
Speaking about forex.com they offer MT4 but as I understand they are usinf BostonTechnologies brodge which is really sucks, so definately do not use it.
Try to choose true ECN broker, there are several on the market even with MT4.

11

I’ve stumbled across MB Trading which offers ECN service for low minimum deposits. Any opinions/experiences with them as a broker? They also offer MT4 which I like.

12

testing them right now, not sure about statement.
can send other brokers name in PM as soon as this option will be available for me.

13

Or you can just say the broker’s name here in the thread and I’ll take a look?

14

You know some people do really think that spread and pips are the only things that count and not mention lot volumes etc. it seems some choose such a strategy that they try to forecast what’s gonna happen next and react faster to the current changes.
BTW, a list would be a very useful thing

15

I share your skeptism about companies advertising low spreads “as low as” spreads. I always go for fixed spreads when trading with a MM as you know what your getting and you are less likely to get slipped.

16

Financial Fuhrer, it is questionable in terms of slippage, however thanks for sharing the approach =)

17

Well yeah!!!
You trade with that so make sure they are low, and there is no slippage. Plus look for a broker that charges no commission, they can scam you with that…

18

what king of a comission you’re talking about? some brokers use spreads to make profit. However i think low spreads (in this case we should specify if they are fixed or not) of course might be very attractive to traders. But low sprads make me think brokers cheat on traders some other ways