I performed a spread analysis during today’s Megadroid trading session on each of my brokers, using the SpreadWatch EA. The results were interesting.
I’ve posted the results below from the best (MB Trading) to the worst (InterbankFx).
1. MB Trading (av = 0.97)
2. Alpari UK (av = 1.66)
3. FxPro (av = 1.80)
4. FOREX.com (av = 1.95)
5. FXDD (av = 2.00)
6. Axitrader (av = 2.02)
7. Go Markets (av = 2.11)
8. InterbankFx (av = 2.30)
To me these results raised more questions than they answered.
- Why is MB Trading performing poorly despite the great spreads?
- Has InterbankFx’s spreads deteriorated since they changed to 5 digit quotes 2 weeks ago? Will this impact future Megadroid Performance at this broker?
- Why is there a poor correlation between spreads and Megadroid performance? Are other factors such as order execution and slippage more important?