troy_gibson43•9d agoMost Upvoted

Updated my broker after a random reddit comment about spreads

I was using the same discount broker for like 4 years, thought I was getting a fair deal. Then someone on here pointed out that my broker's EUR/USD spread was 1.8 pips while most others were under 1.0. I checked their data and ran the numbers on my trades from last month. Turns out I lost about $150 extra just on spread costs alone. Has anyone else switched brokers after realizing your spreads were way higher than average?

2 comments

2 Comments

cora_martinez8d ago

Made the switch last year actually... found out I was paying nearly double on spreads compared to what was out there. Nothing crazy with the change, just started reading the fine print more carefully and saved like $80 a month.

-1

sarahh818d ago

Eighty bucks is good but honestly I wouldn't call it crazy serious unless you're barely making rent. People blow small savings way out of proportion sometimes.