Brokers and spreads

[^eagle^]

Ive been using FXDD as my live broker. They charge three pips for their spread. any body use any other brokers and what are their spreads for the MT4 platform

Please specify if its a micro, mini. or standard account

Thanks

[alan]

Ive been using FXDD as my live broker. They charge three pips for their spread. any body use any other brokers and what are their spreads for the MT4 platform

Please specify if its a micro, mini. or standard account

Thanks

I use FXDD (mini) and IBFX (micro) for my live accounts. I also have an Alpari UK account (standard) but at the moment I'm not trading on that one. Also I've got a FXCM account (mini) which has variable pip spread as it's more of an ECN type of account.

FAP is running at the moment on my IBFX micro account.

Pip spread chart:

IBFX EUR/USD - 2
Alpari UK - 2
FXCM - variable (can get as low as 0.9)

I use the FXCM account only for manual swing trading. The platform I'm using is Trading Station II. You CANNOT run expert advisors on this platform. But they do offer MT4 just that the account opening minimum is a bit high for some ($2K). I personally liked FXCM enough that I became one of their IBs. Lol so I guess my opinion is a bit biased.

I can however recommend other ECN type brokers if you intend to manual trade. There are good ECN brokers out there such as Dukascopy, MB Trading, etc.

Btw, did you know that your broker (FXDD) now has something similar to FXCM's offering?

Have a look at this posting I recently made on my blog:

http://alansforexblog.com/2008/09/12/introducing-mtxtreme-by-fxdd/

The account opening minimum is $10K btw.

[Amita]

I use Forex-Metal broker (mini account).
2 pips on EURUSD.
Every Wednesday, between 12pm and 17pm GMT, they reduce spreads on all AUD and NZD crosses by one pip.

[Albacino]

A quick excercise I did last night during fapturbo trading times. Since I am only concerned with Eur/Gbp scalping I only looked at these spreads. These are all demo accounts so I had 7 MT4s running on my desktop at the same time. I only have fapturbo running on two of these.

Alpari Fibo IBFX FXDD TDFX FXPro FXOpen
6:20 EST 5 5 7 8 3 5 3
6:30 EST 5 5 3 8 3 5 3
6:34 EST 5 5 10 8 3 5 3
9:28 EST 6 5 8 8 3 6 3

On version 36 developers recommend not changing the spread to more than 5 for this pair. Not sure about everyone else but looking at these spreads I don’t know how fapturbo will open any trades. The only acceptable ones to me seem tdfx and fxopen. I might end up opening an account with any of these two. If anyone can share their demo or live broker spreads during the asian times for eur/gbp please post. There is a lot of talk about increased broker spreads on the fapturbo member forum.

[mystikdragon7]

IBFX Micro ~2 pip spread. Most of the time it's less.
Alpari Micro 2 pip spread.

[Albacino]

Are the 2 pip spreads on live accounts during fapturbo trading hours? As I stated below I was testing on demo accounts during these hours and I have been getting 5 on Alpari and a high of 10 IBFX. Could that be the difference?