It’s easy to lose track of the bigger picture when looking at short term spread changes. Let’s have a look at the Month Over Month spread averages for TradeProofer’s Industry index across major forex symbols.
In Q4 last year we saw FX Brokers drastically cutting spreads M.o.M. In the last few months spreads have stabilised across major FX symbols.
– EURUSD Spread Index marked significant decrease from May.
– XAUUSD Spread Index has been relatively unchanged.
– USDCAD spread have been consistently increasing.
– USDJPY spreads have tightened.
TradeProofer’s Industry Index is compiled from 10 different broker accounts: IC Markets Raw, FP Markets (First Prudential Markets) Raw, TMGM Edge, Global Prime No Commission, Pepperstone Razor, Eightcap Raw, GO Markets Raw, Fusion Markets Zero, Axi Pro, Vantage FX Raw.