Forex broker spreads
As you know, the spread size always depends on several parameters - currency pair, brokerage company, market situation.
And if we are not able to control the latter, then we are quite capable of determining which broker and for which currency pair offers the lowest commission.
Below I will indicate the average spread depending on the specific broker, for the most popular currency pairs and the Bitcoin cryptocurrency.
To make it easier to compare indicators, for convenience, I have highlighted brokerage companies with the smallest spread.
The table shows the average spread sizes, since brokers usually indicate that their minimum spread size is 0 points:
Important points to pay attention to when comparing spreads of Forex brokers
Before registering with one of the brokerage companies, you can check the current spread size yourself; to do this, just go to the quotes section, which is present at any broker.
As is the rule in quotes, there is also a column in which the parameter we need is indicated.
When choosing a broker with the smallest spread, you should not forget that the size of the commission also depends on the type of account; on professional ECN accounts it is much lower. In addition, it should be taken into account that broker spreads widen significantly during periods of low liquidity, usually before the holidays.
Cashback or rebate is also an important point; it is not present in all companies, but thanks to it you can also return up to 50% of the paid commission.
As for currency pairs, the smallest size for instruments including the American dollar or euro will help us navigate this issue; the difference between buying and selling will be the indicator we need.
Brokers often advertise accounts with zero spread, but forget to indicate that on such accounts there may be a commission that is taken from turnover. That is, you still pay when opening a trade and do not win anything.
In order not to pay more, it is recommended to install a special script ; this will allow you to check how accurate the data is indicated in the specification of the currency pair and select a brokerage company with the most favorable trading conditions.
In conclusion, I would like to note that if you open no more than one or two transactions during the day, then you can not take into account such an indicator as the fee for opening positions, paid 3-4 dollars per transaction of 100,000, they are unlikely to have any impact significant impact on financial results.