Some of the best online forex sites offer especially low spreads,
like a 1 pip spread, mainly for the major currency pairs.
However, you should be very careful when you get an offer for a 1 pips spread from an online forex broker, and even more so with the lower spreads quoted sometimes on internet sites like a 1/2 pip spread, a 1/3 pip spread or even a 1/10 pips spread. Since online forex sites do not charge a commission from currency traders, this is the main place for them to generate revenues that cover the costs of their operation and make them a profit.
As anyone who has ever been cheated by a con-artist knows, the best way to do this is to offer you something valuable for a ridiculously low cost. The different forex scams that crooked forex sites use can vary, but probably the most popular is the simplest: they don't display the correct prices. This way they can show you a 1 pip spread, but when you make the actual trade, you will be charged a different rate than the one advertised, since currency rates change continuously, its very easy to get away with this without notice.
The lowest pips spread in forex usually go to the biggest traders, where the site can still make a profit with a smaller spread, however there are some honest forex sites that also offer 1 pip spreads as a means to attract new customers and grow quickly. Many times these sites increase their spreads after achieving certain goals, so taking advantage of these special offers requires quick action.
We will update you whenever we find a reputable online forex broker that offers a 1 pip spread on major currencies.
When online forex sites do offer narrow spreads like a 1 pip spread, its usually for the following currency pairs:
Check out these offers from the leading forex sites.
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