Is 3 pips a competitive spread for a FOREX broker to offer?

5 Responses for "Is 3 pips a competitive spread for a FOREX broker to offer?"

1. Common Sense January 11th, 2009 at 3:31 pm

   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.
   References :

2. Marconi January 11th, 2009 at 4:10 pm

   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.
   References :

3. InvestFX January 11th, 2009 at 4:55 pm

   3 pips is average you can get lower spreads with major browers such as cms or gft or dukescopy, you can check complete broker list and pip details on forexpower.net good luck
   References :
   http://www.forexpower.net

4. Suzane P January 11th, 2009 at 5:12 pm

   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.
   References :

5. pillsojeje January 11th, 2009 at 5:38 pm

   3 pip is bad
   References :
   http://forex-forum.co.uk/forex_brokers.php