How’s your broker’s spread in February? Detailed data for

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TradeProofer is a forex trader community where members can benchmark their broker’s quote and trade execution against other members’ brokers. TradeProofer release monthly reports on broker spreads to summarize how the community saw brokers’ spreads. This time we focus on February.
The charts show spread distribution of each broker for a selection of 10 currency pairs. The closer the curve is to 0 the more competitive the spread. All spread values are commission-adjusted spreads. View the detailed data.
Most interesting findings:
  • Although forex trading is known for being extremely competitive, there is a 6-8x fold difference between the most and least competitive brokers. It’s like some McDonalds would sell BigMac for 10 dollars and others for 60-80.
  • Fixed spread brokers are usually at the lower end of the rankings, steady spread comes at a price.
  • Even (supposedly) floating spread brokers have interesting spikes around nice-and-round spread values, they likely follow a semi-floating semi-fixed spread policy.
  • 60-80% of top 10 brokers do charge commission, so paying commission does not necessarily mean you are ripped off.

And here are the charts. Click the images to enlarge:

EUR/USD

EURUSD 1-10 EURUSD 11-20 EURUSD 21-30 EURUSD 31-40 EURUSD 41-50 EURUSD 51-59

GBP/USD

GBPUSD 1-10 GBPUSD 11-20 GBPUSD 21-30 GBPUSD 31-40 GBPUSD 41-50 GBPUSD 51-59

USD/JPY

USDJPY 1-10 USDJPY 11-20 USDJPY 21-30 USDJPY 31-40 USDJPY 41-50 USDJPY 51-59

USD/CAD

USDCAD 1-10 USDCAD 11-20 USDCAD 21-30 USDCAD 31-40 USDCAD 41-50 USDCAD 51-59

USD/CHF

USDCHF 1-10 USDCHF 11-20 USDCHF 21-30 USDCHF 31-40 USDCHF 41-50 USDCHF 51-59

NZD/USD

NZDUSD 1-10 NZDUSD 11-20 NZDUSD 21-30 NZDUSD 31-40 NZDUSD 41-50 NZDUSD 51-59

EUR/AUD

EURAUD 1-10 EURAUD 11-20 EURAUD 21-30 EURAUD 31-40 EURAUD 41-50 EURAUD 51-58

EUR/GBP

EURGBP 1-10 EURGBP 11-20 EURGBP 21-30 EURGBP 31-40 EURGBP 41-50 EURGBP 51-59

EUR/JPY

EURJPY 1-10 EURJPY 11-20 EURJPY 21-30 EURJPY 31-40 EURJPY 41-50 EURJPY 51-59

GBP/JPY

GBPJPY 1-10 GBPJPY 11-20 GBPJPY 21-30 GBPJPY 31-40 GBPJPY 41-50 GBPJPY 51-59

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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