Is 3 pips a competitive spread for a FOREX broker to offer?
I am new to FOREX and am considering using HYMARKETS.COM who appear to offer a 3 pip spread. Is this competitive and if not where can this be beaten? Any advice is much appreciated. Thanks
Related Items
- What is the Best Forex Broker Offer Automated Forex Trading System?
Hi everyone! I am new to forex and have only just found out about all these automated forex robots and such that are supposed to really take a lot of... - Can you please offer some advice on my business idea?
Hi, Can you please offer any advice on my business idea? Do you forsee any problems please? I have this idea for a small business. I have done some ... - I am looking to start trading in Forex, can you give me advice?
I am looking to start trading in Forex with a friend. What should I know? Where should I look? And most importantly, what should I try to avoid? Than... - Who is the best non dealing desk forex broker?
I want to start off with Forex Trading. I want to know the genuine website for Forex trading. Only the names of forex brokers which are non dealing de... - How much did you pay your accountant to prepare your tax return? Was it worth it? What services did he offer?
I'm thinking of hiring an accountant this year to prepare my taxes as it has gotten more complicated. What advice can you provide me regarding hiring ... - How does one become a forex broker?
What do you need to do to setup a currency trading firm providing forex products to businesses? ... - What is the best forex broker who has cent account with 1:500 leverage, allowing hedging, and 10,000 lot size?
I'm looking for a Forex broker who provide cent accounts with the following features: 1- hedging on same currency should be possible 2- Leverage is 1:... - What is the best place to trade the forex?
I am curious that with the spread and all incentives, what platform/site/company is the best bet for investing your money in the forex? ... - How do the tax laws work with playing the forex market with a US broker and being a Canadian resident?
I currently dabble in the forex market and using a US broker. How will I be taxed on my earnings, and what happeneds if I lose money that year, is it... - What’s a decent forex broker which is not a seedy bucket shop but still not to high priced?
What's a decent forex broker which is not a seedy bucket shop but still not to high priced? I want something that I can start off with with around $5... - which is the best Forex broker for trading purposes offering good terms?
I am form india and I want to know which Forex trading portal that offers attractive spread and good leverage, ... - What’s a “Request a Quote” order on the Forex Market?
On the Forex broker GFT's Dealbook 360 platform there's an option called : Request a Quote". What does it mean ? I've just passed a stop buy order at ... - I am currently woking within the forex market as a traders assistant but am now ready to become a trader?
Please can someone give me some advice where to start I feel I have reached the end in my current role so would like something with more responsibilit... - whats the maximum order size when trading forex? does it very from the broker your with?
how do you calculate how big a lot size you can trade with , with the balance you have, ... - What is a pip in trading in terms of FOREX, and in Yen pairs how does the measurement is different to Eur/US$?
How is the pip are measured in currencies? ...
May 24th, 2010 at 9:01 am
3 pips for the majors is average.
Check out;
http://www.forexpeacearmy.com/public/forex_broker_reviews
These guys only received 2 stars. Be very careful. FX is one of the least regulated industries. There are no good brokers… there are only brokers that are not as bad as others. There is a 96% chance you’ll lose your money in 3 months or less.
Spend some time on education. A year would be a great idea. Paper trading will help you with the platform but will do little to help you with the skill of trading. Your results in paper trading mean very little.
May 24th, 2010 at 9:49 am
I work for a broker and it depends of the amount to be operated it can negotiate the spread, up to 1 or 2 if you have doubts you write me for this means.
May 24th, 2010 at 10:13 am
Hi,
Most of the brokers are offering spread ranging from 2-5 pips on various currency pairs. Major currency pairs like usd/eur, gbp/usd, eur/gbp, usd/jpy etc has lesser and other pairs have higher spread. Your broker is offering average spread but if this 3 pips are for minor currency pairs then it would definitely considered competitive.
Hope this information helps you.
May 24th, 2010 at 11:00 am
3 pip is bad