Need help finding the broker with lowest spread on EUR/NZD

Anyone trade this pair with a broker that have 4 pip or lest spread on this pair? Any response would be greatly appreciated.

Thanks

Bump. Me too.

FXCM's average EUR/NZD spread for Standard accounts is 3.5 pips as shown in the following table*. The low spreads you see on our No Dealing Desk (NDD) forex execution are possible because of price competition between our liquidity providers.


That said, it's important to keep in mind that spreads can and will widen beyond the averages displayed above during news events and other times of market volatility/low liquidity. That's particularly true for a currency pair like EUR/NZD which is not a liquid as a major pair like EUR/USD or USD/JPY.

Is there a particular reason your strategy must trade EUR/NZD as opposed to another pair? If so, why must the spread be less than 4 pips? What happens if the spread is wider? Do you intend to trade during news events when spreads typically widen? The answers to these questions may help you assess the feasibility of your strategy.


* Static historical spread figures are time-weighted averages derived from tradable prices at FXCM from 1 October 2015 to December 31 2015.

Here you are, brokers ASIC or FCA regulated with plus

I don't think it's any of your business "the feasibility" of my strategies!

Your job as a broker is to provide me with what I am looking for, or not.

It seems not. With all the negative posts on here concerning FXCM, I would rather play safe and stay clear.

By the way, I recommend Vipro Markets. They average 2.5 pips for EN and their trading conditions so far seem very good.

Hey thanks, I had that too. I wanted to try Tickmill but they don't take UK clients so that's how I ended up with Vipro. Vipro's spreads are actually better than Tickmill's.

You're right, Jen. It's none of my business whether your strategies work or not. However, I wish you all the best with them at your current broker!

My questions were actually directed more to the OP who welcomed any response and was specific about looking for a spread on EUR/NZD of less than 4 pips.

You're right again, Jen. That's why I asked the OP about his 4 pip spread requirement for EUR/NZD. As Insomniawawa's post above confirms, FXCM's EUR/NZD spreads are extremely competitive. (even lower than your current broker's at the time of his screenshot )

However, there are times when higher volatility and/or lower liquidity could cause the spreads of any broker to go above 4 pips on EUR/NZD. It would be remiss of me not to ask the OP how this might affect his strategy given his specific 4 pip spread requirement.

To be fair, there are a lot of positive posts on here concerning FXCM as well. After all, we have the most popular broker discussion thread on this forum.

It's worth keeping in mind that the vast majority of FXCM clients are pleased with our service and execution. Otherwise, we wouldn't continue to grow as we have executing 10% more trading volume in 2015 than we did in 2014.

Also worth considering is the fact that we've been in business since 1999 making us one of the oldest firms in what is still a relatively young industry. If less than 1% of our clients past or present express a grievance about something, it may seem like a large number of traders compared to other brokers, because we are bigger. However, it's not as large relatively speaking when you consider the percentages.

That's not to say that we don't take such client feedback seriously. One of my goals on forums such as this one is to answer questions about FXCM and address any potential concerns. However, if you see my other posts, you will find that I don't simply promote our firm. I actively contribute to discussions to provide service and education to traders.

This also highlights how FXCM dedicates a greater amount of resources to educating new traders than many other brokers. That means more novice traders choose to begin their forex journey with us. The flip side of this is that when they misunderstand something about how the market works or how to use the software, they sometimes blame us: http://www.forexfactory.com/showthre...70#post8881470

Try OctaFX, I am currently trading with them only and I have added the snapshot for Spread, its somewhere around 2-3 average pips, but to be fair I havent traded on this pair much. As per strategies, I believe its absolutely vital we figure out broker with low spread which remains that way instead of been high all the time and occasionally been down, as thats something which will not do well for any strategy.