What Forex Broker has the tightest spreads?

Trading Discussion
#1

I’m sure this question has been asked before or google could be a great help. But I’ve tried both, and I’m unable to find the exact answer to this question.

So what Forex brokers are known to have the tightest spreads and or spreads and commissions? Also, a side question, anybody know of any broker’s with good mirroring programs?

I’m currently using “Forex.com” as my broker and use their ForexTrader Pro platform. The spreads aren’t too bad, and I really enjoy their phone app so I can glance at my short-term and long-term trades on the go.

How’s FXCM? I see they have good spreads and also a mirroring program.

NOTE: I’m from the United States so my options are more limited.

Thanks, in advance!

#2

I’ve got a demo account with fxcm, they seem good so far, plus tight spreads. Oanda even better but slightly higher spreads

#3

Thanks. Going to try out fxcm for the better spreads because I tend to scalp often.

#4

Hi PippinDaily,

I’m glad you’re a fan of FXCM’s tight spreads. As you’ve pointed out, spreads are important, particularly for a scalper.

Another factor that’s important for scalpers is trade execution quality. Slippage is a risk of trading in any market with any broker particularly in times of price volatility that appeal to many scalpers.

The advantage with us is that slippage can be either positive or negative. A one-year study of orders executed through FXCM show our clients receive positive slippage at least as often as they receive negative slippage.

[ul]
[li]76.2% of all orders had NO SLIPPAGE.
[/li][li]13.5% of all orders received positive slippage.
[/li][li]10.2% of all orders received negative slippage.
[/li][li]Over 58% of all limit and limit entry orders received positive slippage.
[/li][li]52% of all stop and stop entry orders received negative slippage.
[/li][/ul]

We even provide unique features on our Trading Station platform called Market Range and Range Entry which limit your negative slippage (but not your positive slippage) on Market Orders and Entry Orders respectively.

If you have further questions about FXCM, please feel free to ask me in the Broker Aid Station.

#5

Thank you for the information! Looking forward to trading with you guys! :smiley:

#6

That’s good information, thanks. I will check it out.