Lowest Spread Forex Brokers For Major Pairs

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On any trading platform, there are two prices for each financial instrument – the Bid and the Ask. When buying or going long, traders use the Ask Price, while the Bid Price is used for selling or going short. The difference between the Bid and Ask Price represents the spread. It is an income for the broker (fee), which is also a cost for the trader. Therefore, a lower spread would be much better for traders.

For most traders, Major Currency Pairs like EUR/USD, GBP/USD, USD/JPY, etc. are the best choice due to their liquidities. These pairs are known to be the most active currency pairs on the forex market, with more than 100 pips daily price movement. If you wish to trade with the lowest spread forex brokers for Major Pairs, the list below could be a great help for you.

Apr 20 2024

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	Broker	EUR/USD	GBP/USD	USD/JPY	USD/CHF	USD/CAD	NZD/USD
744	LiteFinance	0	0	0	0.1	0	0	Review Website
773	JustMarkets	0	0	0.1	0.2	0.1	0.3	Review Website
10	Tickmill	0	0.3	0	0.3	0	0.2	Review Website
145	IC Markets	0	0.2	0.1	0	0	0.7	Review Website
70	HF Markets	0	0	0.4	0	0.1	0.8	Review Website
705	Vantage Markets	0.2	0.2	0.2	0.4	0.1	0.4	Review Website
120	ThinkMarkets	0	0.3	0	0.5	0.4	0.5	Review Website
144	RoboForex	0.1	0.4	0.1	0.5	0.2	0.8	Review Website
162	XM	0	0.4	0	0.9	0.8	1.1	Review Website
706	FxPro	0.2	0.5	0.5	0.9	0.5	0.9	Review Website
461	BDSwiss	0.3	0.6	0.4	0.9	0.8	0.8	Review Website
638	Blueberry Markets	0.5	0.6	0.6	0.7	1.2	0.3	Review Website
87	Dukascopy	0.2	0.9	0.5	1.1	1.2	0.9	Review Website
64	Exness	0.7	0.8	0.7	0.9	1.4	1.2	Review Website
55	Orbex	0.5	0.7	1	1.1	1.4	1.1	Review Website
684	AvaTrade	0.9	1.3	1.3	1.3	1.8	1.4	Review Website
537	FirewoodFX	1	2	1	3	3	3	Review Website
723	Admirals	0.5	2.7	4.5	5.4	3.9	2.4	Review Website
264	MTrading	2	2.7	2	6.2	7.4	2.1	Review Website
660	Fxview	4	7.2	6.9	5.5	8.6	1.4	Review Website
717	FXGT	5	5.2	5	14.2	7	6.8	Review Website

Additional FAQ

What is a fixed spread in forex trading?

A fixed spread, as the name suggests, is a consistent spread cost that does not change with market fluctuations.

Continue Reading at ECN vs Fixed Spread, Which Type is Better?

How a fixed rate system eliminate the risk of transaction spreads?

In a fixed exchange rate system, the deposit and withdrawal rates remain constant, eliminating the risk of transaction spreads. As a result, traders do not need to worry about spreads, and the rates remain constant, ensuring that the spread cost is eliminated. This provides traders with more predictable and transparent transaction costs.

Continue Reading at 3 Reasons Why Broker's Fixed Rate is Good for You

Why is it important for day trader to choose low spread broker?

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?

Why do scalpers need low spreads?

A scalper can open and close 30 positions in a day. Say the broker charges a spread of 3 pips for every position, the profit average is 5 pips, the loss average is 3 pips, and the scalper makes 20 winning trades and 10 losing trades. The total profit and loss without the spread are:

(20 x 5) - (10 x 3) = 70 pips

If the spread is charged:

((20 x 5) - (10 x 3)) - (30 x 3) = -20 pips

The result is disappointing, right? Although they have made twenty profitable trades, the total profit/loss turns to minus once the spread is applied.

Continue Reading at The Secrets of Successful Scalping Strategy

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