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Given the importance of spreads in day trading, it is essential to find a broker that offers low spreads. Lower spreads can help day traders reduce their trading costs, which in turn can lead to increased profits.

It is noteworthy that IC Markets stands out in this regard because it offers lower spreads compared to its counterparts. For instance, the average spread on the EUR/USD for IC Markets' standard account is around 0.62 pips while FP Markets' is around 1.2 pips.

Continue Reading at Broker for Day Trading: FP Markets or IC Markets?

Believe it or not, you can ask the broker directly. Some ECN/STP brokers openly state that they mark up spreads because they feel they have the right to do so.

You can also check the authenticity of spreads from an ECN/STP broker that (perhaps) covers up its spread mark-up by directly comparing the broker's spread with the actual market spread.

Continue Reading at Forex Broker Cheats and How to Anticipate Them