currency spreads

T

tcarney47@comca

I am new to this forum. I have not started trading currencies yet. I am presently using a demo.I notice that some platforms advertise that their spreads are 2-3 pips, others have spreads of 4-6 pips, and others say that you can step inside the displayed spread. Why do I see these variations, and could anyone suggest what they think the fairest and best platform to trade on is. Thanks.
 
Quote from tcarney47@comca:

I am new to this forum. I have not started trading currencies yet. I am presently using a demo.I notice that some platforms advertise that their spreads are 2-3 pips, others have spreads of 4-6 pips, and others say that you can step inside the displayed spread. Why do I see these variations, and could anyone suggest what they think the fairest and best platform to trade on is. Thanks.
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No matter what. Have more than one dealer. They're nothing but bucket shops!
 
Hi TC, if you haven't already done so, have a look at fxcm.com.

I don't have answers to all the points you raised, but fxcm has true market orders, meaning their system doesn't 'requote'.
Their spreads on mini lots are 5 pips on the majors, and on standard lots 3 points.

I suggest that you use their 'chat' service and ask the same questions of them that you posted here. Wallace.
 
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