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 GBP/USD USD/JPY USD/CAD USD/CHF NZD/USD EUR/AUD EUR/GBP EUR/JPY GBP/JPY Yohay Elam Yohay Elam 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 a 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. Yohay's Google Profile View All Post By Yohay Elam Basics & IndustryForex Industry share Read Next RBNZ lifts NZD/USD from the abyss – jumps 100+ pips Yohay Elam 7 years 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… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
