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Dukascopy's EURUSD Spread Reaches a Record Low of 0.26 pips

Over the past year or so, Swiss-based forex and commodities brokerage, Dukascopy Bank SA, has been on a mission, making continuous efforts to significantly cut its EURUSD spreads. Although a lot of the desired results were achieved, with each consequent milestone that the company reaches, it sets a new, ever more ambitious objective to go after and luckily for traders worldwide, so far Dukascopy has not failed to deliver. 

 
Today, the broker released news that it has now hit an alltime historical low on the EURUSD pair, just 0.26 pips, during the European session. This is 0.10 pips less than what it disclosed as a typical daily spread on the SWFX Marketplace in March and even more so compared to the 0.4-pip target announced in late February. Back then, Dukascopy's aim was to maintain the spread at that level, a wish now rendered obsolete given that the company clearly has the potential to do much, much better. The new goal is to keep the EURUSD spread under control, in the range between 0.2 pips and 0.3 pips, making Dukascopy the broker with the lowest spread among all other Swiss forex providers.
 
That coupled with its stellar reputation and deep liquidity pool, comprising of more than 25 banks makes trading with Dukascopy sound like an offer almost too hard to resist. But then again, there's the killer start-off deposit that you're going to have to make, at least $5,000, and the additional $4.8 commission per traded lot to pay on top of the spread. For most traders who invest smaller sums into forex, that surely doesn't seem too attractive. Also, one shouldn't disregard the fact that there are a plethora of other ECN brokers to choose from where you won't be required to loosen up your wallet as much in order to open an account.
 
Returning to Dukascopy's reduced spread, though. Seeing the broker make major steps in that direction is certainly great but it's fair to note here that it's hardly the only one. In fact, with the industry being somewhat stagnant over the recent years, for many companies spread reduction has turned into a way to try to get things going and attract more clients. Other forex providers that slashed their spreads in the past few months include Liquid Markets with a decrease of 50%, FXCM which cut its own to 1.6 pips for Dealing Accounts and just recently Saxo Capital Markets UK whose EURUSD target spread, among others, went down from 2 pips to 1.5 pips.
 
 

About Dukascopy

 
Dukascopy Bank is a Swiss forex broker operating out of Geneva. Holding an actual banking license, it is secure and well-regulated, and offers excellent trading conditions: very tight spreads and fast ECN execution through the SWFX Swiss FX Marketplace technology. 
 
Dukascopy offers desktop, web and mobile versions of its proprietary trading platform Jforex, as well as automated trading powered by ZuluTrade.
 
 
TAGS: dukascopy  spread reduction  forex  trading  broker  swfx marketplace  0.26 pips 

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