If you are looking for the forex broker with lowest spread, you probably already have a sense of how important this factor is when searching for your broker.
Perhaps you found out the hard way. All your trades seemed to be relatively successful, and yet you were making very little in returns, perhaps losing money? Trading platforms may have a complete toolbox for you to use and a mouth-watering promotion on offer, but the best low spread forex broker easily trumps all of those bells and whistles. At the end of the day, you’re here to make money.
What Is A Low Spread Broker?
In simple terms, this is the commission charged by your forex broker on trades. In itself, it is completely legal and fair for a broker to do this. As a business, they need to support themselves to enable them to offer you their services. That being said, there is no doubt that platforms with higher “commission rates” would probably prefer that you didn’t overthink it because these fees can really add up.
Let’s say I want to buy a commodity for $1 (this is called the “bid price”). If I want to sell it, the cost will appear a little higher, perhaps $1.0010 (this is called the “asking price”). The difference between these amounts is the commission you will be charged or “the spread”. The spread will often be quantified as “pips”. In the above example, this would equal 10 pips. “Pips” are not as friendly as they may sound. Depending on your position size, one pip could cost $10 and that’s if you only have one trading position. The costs can quickly spiral, along with your profits.
Which Forex Broker Has The Lowest Spread?
This could literally be the million-dollar question. Many industry professionals believe that a low spread forex broker list is the only list worth consulting. Whether you are looking for the lowest spread forex broker or this is just one of a number of criteria you are evaluating, TradeOr performs well against every metric.
The forex broker with lowest spread may well be the number one consideration and, the more markets and trades you wish to make, the truer this becomes. Fortunately, TradeOr allows you to enjoy the best of both worlds. It gives you the capability to trade across a massive market space, from metals, energies, currencies and stocks right through to Bitcoin. You will finally be able to get stuck into trading with the help of its numerous trading aids, and with the peace of mind knowing you have the best low spread forex broker.
If you’re looking for the lowest spread forex broker with an arsenal of tools and a vast marketplace within which you can build a comprehensive portfolio, TradeOr comes out as the clear winner. Most other trading platforms will be excellent in some areas. They may have a broad marketplace and fantastic one-time offer, for example. It can be all too easy to be taken in by one or two glowing features but overlook searching for what forex broker has lowest spread. It is not chance that TradeOr scores so highly across the board. They have worked to become one of the most reputable forex brokers on the market.