i think forex is a legal bussines, and if you want to trade the spread is small, my advice is that you have to register with the ECN account because it usually has spread ECN Account is a small and usually need a large deposit to open an account fatherly ECN
i have not seen upto now that there are currencies which have as low as 2 pips. Most of the pair have spread of 3 pips, and some of the pairs have higher spread as upto 20 pips they all depend on the amount of trading going on in those pair, when more people trade at a particular pair then the spread reduces and increase if less people trade in a currency.
I think in no insta forex pair using spread 3. there are also spread 3, and there are many. if there is I just know what it's pair? but when spread 3 I usually always wear, eur, usd, etc..
generally the major pairs have low spreads. EUR-USD amd GBP-USD are the preferred choice of currencies for millions of traders worldwide and generally these two currencies have 1-2 pips in mos t of the brokers. In instaforex the spread for these currencies 3 pips.
:happy:sorry buddy iam just new in this and i am just trade onn demo so i have no idea about it
what are the advantages of forex market?
There are many benefits and advantages of trading forex. Here are just a few reasons why so many people are choosing this market:
No commissions
No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail brokers are compensated for their services through something called the "bid-ask spread".
No middlemen
Spot currency trading eliminates the middlemen and allows you to trade directly with the market responsible for the pricing on a particular currency pair.
No fixed lot size
actually spread varies from broker to broker. some broker charged more spread and some charged less. i trade with two or three renowned broker. as per i have seen major pairs like EUR/US, GBP/USD, USD/CHF has the lowest spread like 1-2 pips. though if the market volatility increase then spread may also change.Quote:
Originally Posted by deep thought
A currency pair is the quotation of the relative value of a currency unit against the unit of and typically have less liquidity and wider spreads.
Most of brokers set low spread at major pair like "head" pairs (USD/xxx) and "tail" pairs (xxx/USD) ~ (xxx refers to major currency only). But, these brokers have different views about "most benefical" spread like some of them like to use 3-5 fix spreads (no matter any change in market condition) and some other brokers love to set 0.xx floating spread that will become wider when market have high volatile movement.
The major currency pairs are eurusd and gbpusd , eurjpy and like major pairs have less spread.The brokers are Alpari, instaforex, oanda,Interbankfx are some of top brokers which provides less spread on the mentioned pairs.