I've just been demoing an account at a new provider (Switching from Go with MT4) and I am just wanting to clarify the spreads.
On Go for EUR/USD they offer a 2 pip spread.
On my new provider the spread goes from EUR/USD .0001 to .000080
Is the new providers spreads less than 1 pip as it suggests or is it actually fluctuating between 1 and 7 pips if I was using MT4?
The go spreads are in full decimal places i.e 2 or 3 so I am a little confused by the new providers.
From what I can figure out Go's price was 1.3953 to 1.3951 so the 2 pips is actually 0.0002
Whereas my current provider is going to 1.39552 to 1.39558
So in MT4 terms the spread is actually less than 1 pip.
Is that correct?
On USD/JPY I regularly see negative spreads, so I am guessing you enter the position in profit....
If that's the case scalpers rejoice.