FXOpen provides variable spread from zero on ECN account, but I have no experience trading in ECN account still work in STP account with variable spread, ECN usually take a commission from every trades made by traders.
I think you should compare fixed spread brokers and variable spread brokers to get a good idea about them. They both have their own advantages and you can speed up your decision making process by analysing the importance of spread types.
Lower spreads are possible only when the market is at its most active, during high liquidity periods. And I’ve found that variable spread brokers like turnkeyforex are better off as you can find spreads as low as 0.1 pips with them on the major currency pairs. Fixed spread brokers however are unable to offer such tight spreads.
0 pips is no marketing gimmick, I trade with the broker and they have good spreads from 0.0 pips to 0.2 pips when the liquidity in the market is in the right condition. Can’t expect tight spreads at all times.
I like Moneta Markets' ECN account. It has floating 0 pip spread with $3 commission per lot. While there are actually true zero spread accounts there (fixed 0 pip spreads), the catch there is very high fixed commission cost (around $20 per lot). Most zero spread accounts that Forex brokers offer are called ECN accounts, which have floating 0 pip spreads. This means while the spread is still floating, just like in a standard account, it is majority of the time close to zero. The good thing here is it has a lower fixed commission cost than true zero spread accounts. If you ask me which is better (Standard or ECN), it will all boil down to your trading style (how often you trade) and your equity (how big your capital is).
“Don’t be afraid to give up the good to go for the great.” – John D. Rockefeller
As far as I know, hankotrade is a good zero spread and low commissions broker. They have variable spreads starting from 0.0 pips on ECN account. Sometimes the spread may vary depending upon the market fluctuations but mostly I’ve got tighter spreads.
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