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Mar 03 2021 at 02:42
2 Posts
Hello everyone,
I'm pretty new in the game and I have a question about spreads.
When I look here on myfxbook -> Brokers -> Spreads the spreads a very low compared to these my brokers offer.

For example here on this site for IC Markets GBPAUD 1.5. But in my MetaTrader4 the Spread is 24.
Also on the GKFX Account: here on this site 6.8 for GBPAUD but in my MT4 45.

Do I misunderstand anything or what's wrong here?

Anhänge:

Myfxbook (Staff)
Mar 03 2021 at 07:21
1405 Posts
@tradingjules the spreads showing in your account are in points while the spreads in our spreads page show in pips. Points simply show the decimal difference between bid and ask taking into account that the last digit of the price is equal to 1 point. When comparing spreads, a pip is usually referred to the figure in the 2nd or 4th decimal, depending on the currency.

For example,
EURUSD 1 pip is the 4th decimal.

EURUSD ask price of 1.20843 and bid of 1.20854 would mean (1.20854-1.20843)*10000=1.1 pip however in points that is (1.20854-1.20843)*100000=11 points.
Zipp7
Mar 03 2021 at 07:27
9 Posts
Yea, just like the above user said, the one you are talking about are points which is pipettes, if I am not wrong.
Do remember the spreads are fluctuating, so if IC Markets GBPAUD is 1.5, which is pips, so for, points are basically 15.
Mar 03 2021 at 12:50
2 Posts
Make sense, thank you both!
Charlespeterson
Mar 11 2021 at 11:11
18 Posts
You need to learn to differentiate between the spreads in points and pips. Once you know the difference between the two, you are good to go.
LyudmilLukanov
Mar 11 2021 at 11:49
851 Posts
Zipp7 posted:
Yea, just like the above user said, the one you are talking about are points which is pipettes, if I am not wrong.
Do remember the spreads are fluctuating, so if IC Markets GBPAUD is 1.5, which is pips, so for, points are basically 15.
Thanks for the explanation. It’s very helpful.
eekpillar
Mar 24 2021 at 10:53
24 Posts
You can keep collecting information from this platform to get better at your trades. Good luck.
SofieAndreasen
Mar 24 2021 at 18:00
759 Posts
Charlespeterson posted:
You need to learn to differentiate between the spreads in points and pips. Once you know the difference between the two, you are good to go.
I also didn’t know about the point. But I know now. Thanks for the explanation.
UweMoench
Mar 25 2021 at 13:16
751 Posts
Spreads varies from broker to broker and account type to account type. In zero spreads account you get very low spreads but you have to pay commission and standard account spreads will be high but won't be any commission. Choose according to your comfort.
Femilas
Mar 25 2021 at 14:58
30 Posts
But usually the fixed spread is larger than the lower limit of the floating one.
Mar 25 2021 at 15:22
788 Posts
When I go to trade I first form an idea about spreads. Because the spread is too high, it will be very difficult for me to make a profit.
Chris Smilas (ChrisSmilas)
Mar 25 2021 at 15:35
1 Posts
You must of course concentrate on the spreads but also, ticker value, swaps/overnight fees and commissions because this is a huge oversight for beginners in the markets. Spreads are important and pretty easy to understand but swaps and other Fees need to be researched properly before entering any trade. When opening an account with a broker you can use myfxbook which is great for showing you the trading costs, trading conditions but also check the KID(Key Information Documents) on your brokers website (normally found at the bottom of the home page but if you can't find ask the customer support/live chat at your broker.
Live the life you want to live.
Gibra (Manecula)
Mar 25 2021 at 19:15
7 Posts
find ecn broker with 0-1 pips spread + low commisions + no fees (or small for withdrawals)
no kyc broker are also ok but reputation is important
Tremblay
Apr 11 2021 at 17:52
330 Posts
ChrisSmilas posted:
You must of course concentrate on the spreads but also, ticker value, swaps/overnight fees and commissions because this is a huge oversight for beginners in the markets. Spreads are important and pretty easy to understand but swaps and other Fees need to be researched properly before entering any trade. When opening an account with a broker you can use myfxbook which is great for showing you the trading costs, trading conditions but also check the KID(Key Information Documents) on your brokers website (normally found at the bottom of the home page but if you can't find ask the customer support/live chat at your broker.
I completely agree with you. research before choosing the broker is a must for every trader.
Apr 11 2021 at 22:19
397 Posts
Trader forex usually will like if the broker has low spread because giving an opportunity to making profit quicker, but besides spread also quality instant execution also affected to the result in trading, if a trader wants to open and close order, fast execution more preferable than delaying execution.
Apr 12 2021 at 04:46
283 Posts
spreads is very important issue in Forex trading for traders and also for a broker , because the broker always depends on spreads to bring their profit , i mean broker earn profit only by trading spreads.
UweMoench
Apr 12 2021 at 13:28
751 Posts
For short term traders and scalpers spreads is very important. As a day trader, I like floating spreads. That's why I always prefer zero spreads account with commission.
Dictiony
Apr 13 2021 at 01:03
231 Posts
UweMoench posted:
Spreads varies from broker to broker and account type to account type. In zero spreads account you get very low spreads but you have to pay commission and standard account spreads will be high but won't be any commission. Choose according to your comfort.
Yes, We should choose a broker which offers a low spread over every trade but the broker should also have a good reputation in the market.
fredafernandez
Apr 15 2021 at 14:03
16 Posts
Dictiony posted:
UweMoench posted:
Spreads varies from broker to broker and account type to account type. In zero spreads account you get very low spreads but you have to pay commission and standard account spreads will be high but won't be any commission. Choose according to your comfort.
Yes, We should choose a broker which offers a low spread over every trade but the broker should also have a good reputation in the market.
I'm fairly new to trading, and I came on this platform to pick up useful tips and tricks... So if low spreads are so important then as per this spreads calculator thing
LukeRachel
Apr 16 2021 at 03:23
477 Posts
The main support of the broker is spread. If the spread is low, it is possible to gain a lot of profit by trading in that broker. So before choosing a broker, it is very important to know about the spread of that broker first.
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