FXPro say on their webpages they have really tight spreads e.g 1.6 pips average on for EURUSD during main trading hours but on my FXpro account, the lowest I have got for EURUSD during main trading hours is 16 pips, I’m i missing something? Im using metatrader 4 on one of their normal accounts.
Hey @Markooo, I found the same issue with FXPro… You maybe outside of the UK / EU like me (I’m Aust.), which could be the reason behind the ridiculously untradable spreads
Yes you’e missing something - the 16 you speak of is “pipettes” 16 pipettes = 1.6 “Pips” !
Thank you, looking at the spread and bid now, its makes sense
Still way too high for an established regulated mainstream Broker…
IC Markets / Pepperstone averages 0.2 - 0.4 pips on EURUSD, AUDUSD, GBPUSD etc…
I had similar situation in the beginning of my trading journey. Practicing on demo with the MT4 Platform, I saw such numbers and was amazed by the “high” spreads. Fortunately, I quickly realized that in the Market Watch, spreads are displayed in pippetes and not in pips and points. But I agree that these spreads are high, don’t seem very “tight” to me so they might have some hidden costs in them.
Thats exactly correct i use both fxpro and hotforex
Why don’t you switch to other forex broker, the best fx brokers I worked with are Pepperstone, Avatrade, Triomarkets and IG. all of them fully regulated and very transparent.
According to this review https://55brokers.com/fxpro-review/ this broker has FCA, DFSA, CySEC and SCB licences. So i can easily make conclusion that it’s very reliable broker. Also this broker is already working for 12 years. It’s very impressive.
I think stated spreads are for premium accounts, not for standard accounts.
Exactly! there are so many good guys out there like pepperstone, IC markets, coinexx. Have traded with all of them. Good brokers offering amazing spreads esp coinexx.
WOW, I thought these days were finished.
Avatrade big scamm you can watch out from YouTube