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Best Forex Broker Spreads – Best Tips On How To Select A Good Forex Broker? Basically there are two types of Forex brokerage firms in the market, one is known as the Market Maker and the other is known as the Electronics Communications Network (ECN). So what are the differences between them and which one is better? * They are the market brokers who fill your orders without routing them into the market. * Have a dealing desk meaning you are playing against them, therefore if you win, they will lose and when they win, you lose. * Some even widen the spreads, use slippage or even "disconnect" you from the trading server during volatile time, meaning at time when you want to close your trade during volatile time especially when the news are coming out, you will either cannot close it or they give another disadvantage price other than your price to close the transaction. In short, this process is known as re-quote. * No dealing desk meaning your order will go straight to the Interbank Market without passing any orders through the dealing desk, also known as STP (Straight Through Processing). This means you are directly playing against all the banks and big boys directly. * There will be no re-quotes and no order confirmation especially during the news period. * How they earn money then? Either through the spreads or commissions that they imposed. * Whether you win or lose also not their business as compared to the market makers. In short, when you go and research your brokers profile, make sure that they have met the criteria as listed below. a. Are they an ECN broker who uses STP? b. Do they provide MT4 Forex platform? Must be a Yes as well cause it is the worldwide standard to trade Forex with MT4 platform. In addition, there are many Expert Advisors (EA) out there only work with MT4 platform. c. Do they have an independent third party to administer their segregated client accounts? It is necessary so as to protect the their clients from brokerage companies being shutting down either due to compliance issues or misappropriation of funds. In this way, you can be sure that your funds are treated ethically and responsibly. d. Do they provide standard-lot (1), mini-lot(0.1) and micro-lot (0.01) size for trading? By default, all Forex brokers should be able to provide for all the lot sizes as stated above. For a start, it will be good to use micro-lot size, i.e. 0.01, so that if you lose 1000 pips, the total actual amount you will lose is USD$ 10. e. Do they provide Live Chat Support? Meaning, you can open a chat window with them on their website and talk to them directly in the event you encountered any problem 24x7 from Monday to Friday. f. What are their leverage? The brokers' leverage level vary from one broker to another but they are usually in a range from 100:1 to 500:1. Normally, if they can provide 100:1 or 200:1 that should be more than enough. Leverage will not effect on the pip value, leverage will only effect on the margin requirement. Best Forex Broker Spreads. Example euro/usd - leverage 500:1 - 0.1lot - 1.5787. Margin Required: 1.5787 x 0.1?100,000 / 500 = USD31.57 margin needed to open pair. Example euro/usd - leverage 100:1 - 0.1lot - 1.5787. Margin Required: 1.5787?0.1x 100,000 / 100 = USD157.87 margin needed to open pair. The small leverage you use will need bigger margin requirement to open pair. The big leverage you use will need small margin requirement to open pair. g. How much do the broker charge for the spreads? Normal Spreads For Major Pairs. · USDJPY - 1 to 2 pips. · AUSUSD - 1 to 3 pips. · AUDJPY - 1 to 3 pips. · EURUSD - 1 to 2 pips. · EURJPY - 1 to 3 pips. · GBPUSD - 1 to 2 pips. · GBPJPY - 1 to 3 pips. i. Do they provide Demo account so that you can test it out the platform to see if you are okay with their user interface? Should be a YES. j. Do they provide hedging facility? Sometimes, with different strategies, you will need to open two different opposite trades from the same pair. For example, if you use strategy A, you will need to long the pair. At the same time, if one of your other strategy B's signal has come along and needed you to go short on the same pair, for all US Forex brokers, they normally won't allow longing and shorting on the same pair of currency at the same time. They will normally close one trade and start the other trade. Therefore check with the brokers whether are you allowed to long and short on the same pairs at the same time. k. How easy for you to make a deposit or do a withdrawal from the broker? Preferably with the under mentioned services: · Can be funded by credit/Debit card. · Can be funded by Wire Transfers. · Can be funded by Local Transfers, meaning you can deposit cash into one of the broker's assigned local bank to fund your account. · Can make withdrawal via Wire Transfers. · Can make withdrawal via Credit Cards or Pre-Paid Debit card. l. Where is your broker located and are they regulated by any kind of regulatory institution? If your broker is an offshore broker, check with them or from the Internet search engine are they regulated by any regulatory institution? If not, how can they give you a guarantee on your funds should the broker file for bankruptcy? With these few questions on hand, you can go and do your research and will understand which broker is suitable for you. Best Forex Broker Spreads. Best forex broker spreads. Currency exchange is not just about selling or purchasing currency pairs; it is wagering which currency will incur a rise or decline. To do that properly having an understanding of spreads is a must for all traders have a significant influence on the overall profit levels and in order to increase your profit yielding possibilities, you should always opt for low spreads. The article will discuss top platforms which are providing best forex broker spreads in the industry. Platforms with the best forex broker spreads. ETX Capital: They are well acknowledged all over the currency exchange industry and provides numerous trading platforms to their vast number of clients. Plus they make it a point to provide the tightest spreads on the most popular currencies such as 0. 7 percentage in points fo r EUR/USD and 0.9 for AUS/USD. Core Spreads: One of the best things about core spreads is that they welcome their clients with a 50% bonus on their 1 st month and give out spreads as low as 0.7 percentage in points on some of the popularly traded currencies. Spread Co: This is also one of those platforms known to give out best forex broker spreads to traders of all types. They have an excellent platform with a friendly user interface and spreads which would be the lowest in the FX industry. Their demo account also allows new traders to learn a thing or two about spread betting as well as about this volatile venture. CMC Markets: Those who search for a platform offering best forex broker spreads , CMC happens to be a favourite choice! And with good reasons too! Their trading spreads start as low as 0.7 percentage in point , and they also give traders the option of 330 currencies to choose from. They also offer CMS reward programs to those who trade every day through them. 3D Markets: With 35 currency options to choose from and with spreads as low as 0.8 percentage in point , 3D Market is right among the league of best broker forex spread providers. They also provide new traders with a virtual start-up cash of $30,000 in their demo accounts. HotForex : If you are looking to place your trades on EUR/USD, then HotFX gives low spreads such of 1.8 percentage in point (fixed) and 1.2 (floating). Their demo accounts come with a host of powerful trading tools, accurate charts and number of oscillators. Plus they involve no withdrawal or extra fees. VantageFX : Vantage FX is a trusted name in the currency exchange venture and offers live spreads such as 0.5 on EUR/USD, 0.6 percentage in point on AUD/USD, 0.9 on GBP/USD and 0.2 percentage in point on US dollar/Japanese Yen (fluctuating). They give you various currencies to choose from, and when you set up a start up on their demo account, you also get start-up virtual money of $50,000. Ending statement: These are some of the best platforms where you are expected to get best forex broker spreads in the market. However, you must remember not to be swayed by welcoming bonus deals. Rather first check if a trusted body registers the website or not. Before choosing a broker, you should also check out their website and also their customer car service. The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC. Recent posts: Dec 7, 2016 9:08:13 PM. Spreads are one of the many deciding factors of making a profit in the forex market. Depending on the currency you are trading with and the policies of your broker, spre. Dec 7, 2016 8:56:43 PM. The first and foremost thing to remember in currency exchange market is trading is done by exchanging one currency against the price of other currency. Forex live spread. Dec 7, 2016 7:02:24 PM. Risk management has always been and will always be a spot of botheration for any forex trader. The liquidity and volatility of the currency exchange market combined with. As soon as you enter the World Wide Web, you will find various claiming to give you the t. Pulling up a currency pair, say- EUR/USD-1.211-1.213 you will come across two prices. Her. Get access to the exclusive materials and additional analytical tools by Claws & Horns. Dear traders! Follow our Telegram channel and get access to a daily efficient analytical package delivered by true experts: - unique analytical reviews and forecasts; - technical, fundamental, wave analysis; - experts' opinions and training materials. This website uses cookies to enhance your experience. By continuing to browse the website, you are agreeing to our use of cookies. Risk Warning: Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure. LiteForex Investments Limited registered in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act. The Company’s address: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. Email: Liteforex Investments Limited does not provide service to residents of the USA, Israel, Belgium, and Japan.