Broker Spreads Tradable Currencies

Because of the nature of scalping (going for the smallest possible trade typically using an initial stop of just 10 pips) you need to trade only on the currency pairs with the smallest pip spread. Here is a screen shot taken of FXCM's spreads at the time of this writing (applicable to both mini and regular trading accounts).

Dealing Spreads

Currency Pair Spread

currency Pair

Spread

EUR/U5D

3 pips

EUH/CHF

^ P¡P5

U5D/JPY

4 pips.

EUR/CAG

tO pips

USD.'CHF

5 pipi

ELTR/AUD

15 pips

U5D/CAD

5 pipi

GBPj'JPY

9 pips

GBP/U5D

5 pip;

GBP/CHF

15 pips

EUR/JPY

4 pips

CAD/JPY

10 pips

AUD/U5B

4 pips-

CHF/JPY

9 pips

NZD/U5D

4 pips

AUD/CAD

10 pip5

EUR/GBP

3 pips

AUD/JPY

5 pips

NZD/JPY

1Ü pips

AUD/NZD

13 pips

As you can see their fixed spreads range from 3 pips (on EUR/USD & EUR/GBP) all the way up to 15 pips (on EUR/AUD & GBP/CHF).

It is best to stick with the currency pairs that are just 3 or 4 pips (I'll explain why shortly). Too bad that GBP/USD has a 5 pip spread as it is generally my favorite currency pair to trade, but generally speaking it is best to stay away from the pairs with 5 pip spreads, and absolutely don't trade the higher spread currency pairs.

Thus for the above mentioned reasons (at the time of this writing as brokers may change spreads in the future) currently for FXCM the currency pairs that are tradable with these scalping techniques are:

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