Which broker offers lowest spread?

kingfisher3210 · October 18, 2009, 3:27pm

I am using Oanda and it is offering EUR/USD 0.9 pips and 1.6 pips for USD/JPY.

I want to know which brokers offers lowest spreads?

o990l6mh · October 18, 2009, 4:04pm

Actually they offer 1.1 on USDJPY during London and NY hours.

When it comes to spreads I find that Oanda is among the best. But if you have a bigger account there are other brokers out there with even better spreads.

For instance forex.com offer some nice spreads to traders with 10.000 or more in their accounts.

Then there are ECNs like MB Trading who take a commision of what is roughly 1 pip and then they offer the Interbank spreads, so your quote will be 1 pip + whatever the interbank spread is.

Many choices…

soul786 · October 18, 2009, 8:43pm

If you’re looking for the lowest spreads and starting with little capital, Oanda’s the way to go. You can always use better free charting software on the side like many do and place trades with Oanda.

Kathryn · October 19, 2009, 10:19am

i’m interested to know some of those brokers who have very high spreads… anyone know?

kingfisher3210 · October 19, 2009, 12:17pm

Well i am using Oanda only…its good. 0.9 spread in eur usd is really good

trader545 · October 21, 2009, 8:08am

My broker i trade with (Real Trade Group) has fixed spreads EUR/USD 2 pips, but they have no comission at all…

Kathryn · October 26, 2009, 11:47am

those don’t sound too bad… kingfisher does your broker charge a commission?

o990l6mh · October 26, 2009, 11:50am

No commision on Oanda, just the spread.

system · October 26, 2009, 4:38pm

Kathryn:

Yeah, I’m trading in a demo still, I am a female trader, I’m 23 and just moved back to Michigan from California to spend time with my family members who are getting old I friend introduced me to trading forex about a month back, and if it’s a good as everyone makes it sound, I’ll be entering an account using an EA in the next month. There’s a company I’ve been introduced to (i’m not sure i can mention their name), and they are the first EA on the market to use Fibonacci. Their return on their managed account is up almost 90% since april! Pretty cool!
I’m sure I won’t put a whole lot in to begin with, probably a few hundred dollars, I don’t have a whole lot to risk!

On a side note, I drove up to the Moneyshow in Toronto, CA with a few of the traders from 4xsuccess.com… it wasn’t too bad… but it really wasn’t all that great. the only booth that even pertained to forex trading was MIG out of Switzerland. Everybody else was selling crap… and mostly Canadian crap so it didn’t really pertain to me. But- it was cool to be in a place where people around me actually knew what trading forex was! Even one of our taxi drivers has an account! So funny!

Kathryn

I am more than curious what your intentions are in regards to your last seven posts in a very short time…?

Looking at the content of your posts I am getting the impression you are trying to advertise.

Perhaps you could satisfy my curiousity in that regard.

Thank you in advance.

cas

o990l6mh · October 26, 2009, 5:51pm

Stop reading my mind Cas!

phil838 · October 26, 2009, 6:17pm

Good catch, Cas. It looks like we’ve been had.

My Googling and Youtube watching shows that Kathryn, and another person named Tom Lira, own 4xsuccess.com.

It appears to be a feeder site for adelphafx.com, which they also own. That site sells an EA for the low price of $429.

Watch the videos on youtube by 4xsuccessvideos for proof. She pretended to be a newbie but is really just advertising…

pbenerjee · October 27, 2009, 1:43am

I am going live december first week and I have zeroed in on Oanda as they have low spreads, are known to be reliable and fair and offer very flexible position size.
I am a newbie and can’t see myself strategizing against a broker who takes oppositie side of the “deal”. I am going to have enough challenges negotiating price movements anyway :rolleyes:

To cover Oanda’s poor charting, I have planned to use CMS demo account as they have excellent free charting software and I am kind of comfortable with it. I confirmed with senior members here that there is no considerable price difference in the above combination IF I don’t trade less than 30 minute time frames

Unless I see a better option, I am going live with Oanda in december.