Oanda's 1.5 pip spread on EURUSD

Can anyone beat that?

 

Both IB Ideal pro and Hotspot (and I am sure some other ECN models) show 1 pip and even choice from time to time. Even with the commission added in it is tighter than 1.5 pips.

 

is there a commission per trade on top of the pip spread?

 

- That depends upon the size one trades. AFAIK, OANDA is the only spot FX dealer who allows you to trade any number of currency units you choose, rather than locking you into mini-lots (10,000 units) or full lots (100,000 units).

 

- OANDA charges no commission. Their fee is the spread differential.

 

Thx for replying, if that's the case, OANDA's 1.5 pips spread is probably one of the industry's best.

Other than OANDA what are some of the other forex software firms charging users? Can't seem to find a thread that has people comparing fees. Can someone let me know or direct me to the proper thread.

Thank you,

TheShaman

 

RefcoFX has a 3 pip spread on the EUR/USD. But a 1.5 pip spread will not save a bad trade.

 

I agree Oanda is great if you are interested in trading minis and microminis. Since my average trade size is between 500k-1mio it doesn't hold a great advantage. I think both IB and Hotspot pretty much charge the same fees, only Coes is higher as far as the ECN models go.

 

I have actually seen Oanda drop the spread below 1 pip but not to often.

 

may I know HotSpot URL?