I currently go thru forex.com but can anyone recommend a reputable broker I can go thru with a tighter spread?
The only thing that concerns me now is the AUD and NZD pairs I usually like to trade have gone thru the roof.
They are now 11.4 to 14.2 on some pairs.
Me being a newbie and not knowing, I am guessing they have to follow regulations or something, but I need to be looking elsewhere to explore other options.
Google it. You will find reviews of brokers as well as detailed comparisons of spreads that each offer.
I guess I am so knew, I never paid attention that the spread rates float so far, the 11.4 is now at 2.9 as the nzd/usd reversed to a Bullish trend.
Also Thanks for the advice, I knew I could google it, just wanted some input
Forex.com’s spread increases dramatically for an hour or so after New York close… And on Sundays… That may have been what you saw. Also, pairs that do not have USD in them will be a higher spread.
The spread for audusd and nzdusd is almost always under 3 at forex.com, except for the time periods I just mentioned.
You need to research and review brokers and then opt for one that suits your requirements best. I use Trader’s way, FXCM and Alpari…all three are good [for me] but you need to do the research and select one that you think is the best. And try checking independent forex broker comparisons as opposed to one that’s hinged heavily in favor of one broker or two…
And my 2 cents, forex.com sucks - from personal experience so would not be recommending them to anyone for a while.
I am not here pushing my broker but I use FXSOLUTIONS and even though my spread is kind of high at 4 pips it is fixed so it stays at 4 pips. You will not see it increase in major news events or weekends when orderflow is at its lowest. Oanda from what I hear has decent spreads most of the time. FXCM is another good choise.
Careful what you read on google about brokers as they tend to get really bad reviews. Some of those reviews are justified but most of them are just a upset trader that could not hack it in this game and refuses to accept he is the problem. After blaming his system, mentor (or however he learned forex), and everything else possible they always turn to there broker. So just try to take reviews with a grain of salt and compare important things like spreads and such that matter.
Also I do think banker928 is correct. I fail to see a broker with that high spreads all the time. They would never get any customers. As far as regulations on spreads there are none I am aware of. Thats there profit and they can name what they want its up to you to decide if it is worth paying or not. Seeing as how this thread came out on monday makes me beleive banker928 hit the nail right on the head here.
I want to suggest you for avafx, oanda and fxcm. Visit their website and choose the best one according your requirements.
I use InterbankFX
I haven’t find the prefect broker yet (it doesn’t exist, after all) but each person may have different ways to skin a cat, hence they would need different tools and or environments.
For instance, for me the ability to fund/withdraw through PayPal, or to have their own branded debit card attached, to access funds at will was something that isn’t usually easy to find on the brokers’ presentation sites…
I found this website which is a great resource (and I think babypips should put up a similar category on the site) where you can sort through the brokers based on many filters:
forexbrokerz.com
Hope it helps all of you.
Be careful with all of this so-called independent reviews. All of them very often are full of promos and vendors. It is hardly to find there a truly reliable opinion. I think you can find your best broker only from your own experience.
Yeah, I spent almost two full working days so far trying to sort through them, only to find out that almost all the promising ones on a certain site had some bad reviews elsewhere.
However, my take on this is that babypips should try to have at least a certain number of the best of them out there in a sortable table, allowing babypips members to also vote on them and leave reviews. That way at least we would find here the place to start from and we would not need to go look elsewhere in the first place.
Having the option to filter using various features of each of the listed brokers, even in an advanced multiple filters mode would be extremely beneficial.
Example of a possible advanced search would be…
Broker located in the EU, allowing scalping, with fixed spreads and PayPal funding/withdrawal… 
right?