How do I use the real-time spread comparison tool on Myforex?

How do I use the real-time spread comparison tool on Myforex?

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The real-time spread comparison tool on Myforex shows spreads in pips for all the symbols offered by each broker and account type. If you select a specific condition, such as symbol and period, the result will be shown on the chart at the bottom of the page. Here shows how to display and compare the real-time spreads for about 30 brokers in a chart.

Step 1

Click (1) "Use tools" shown at the top of Myforex website > (2) "Real-time spread comparison".

Tap (1) "Use tools" from three lines at the top left of Myforex website > (2) "Real-time spread comparison".

Display main page on Myforex
Display main page on Myforex
knowledge Knowledge

Spreads are the gap between the buying price and the selling price of a symbol. Spreads vary depending on FX company and account type, and smaller spreads have advantages to tradings.

Step 2

Choose a symbol on the Real-time spread comparison page. If you would like to compare the symbol of CFD, click (1) "Advanced search". If you choose (2) "CFD" in Financial instrument and (3) your favorite category in Category, the Symbol field will be updated to show the symbols of the selected category.

Choose a symbol on the Real-time spread comparison page. If you would like to compare the symbol of CFD, tap (1) "Advanced search". If you choose (2) "CFD" in Financial instrument and (3) your favorite category in Category, the Symbol field will be updated to show the symbols of the selected category.

The spread comparison tool [symbol]
The spread comparison tool [symbol]

Step 3

Choose a period (1H, 3H, 6H, 1D, 3D, 1W and 1M) influencing "Spreads for the period" and calculate the average value of spreads. For example, if you choose 3H (3 hours), the minimum, the average, and the maximum spreads for the last 3 hours will be shown.

The spread comparison tool [period]
The spread comparison tool [period]
knowledge Knowledge

Spreads tend to widen around 10 pm (UTC) because major markets are closed and there are few traders at the time.

Step 4

Choose whether to include trading fees in spreads or not. If you would like to compare the virtual total cost, choose "Included in spread".

Please see the following page for the conversion of the trading fee.

The spread comparison tool [trading fee]
The spread comparison tool [trading fee]

Step 5

Choose a trading tool. If you hope that both MT4 and MT5 will be shown, choose "All".

The spread comparison tool [trading tool]
The spread comparison tool [trading tool]

Step 6

Choose display order. The real-time spread provided by each broker is shown in the selected order.

The spread comparison tool [display order]
The spread comparison tool [display order]

作成日

Created

2023.07.31

最終更新

Last updated

2023.08.08

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Popular related questions

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  4. How do I use the real-time spread comparison tool on Myforex?
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