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Spread monitor

July 1st, 2009

I started thinking about a web application today that would publish the spreads of the top MetaTrader 4 brokers both in real time and with historical data. My idea was to open accounts at the interesting ones and run a small EA that recorded every tick to a database for further analysis by the web application. So I did a google search of course. It has been done before, partly.

Check it out, it is quite nice: http://www.onestepremoved.com/spreads.html

If I were to go ahead with my application anyhow it would include more bells and whistles. Most notably it would have spread history. I really would like to see the average spread over a definable time (like the Asian session) and a histogram of the distribution and so on. It would also be nice to see the rollover costs on the pair (some brokers take much more in swaps to be able to afford lower spreads). Also I would like to see some other brokers, like Forex.com/UK and CMSFX. But this one will do for now :)

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  1. August 17th, 2009 at 08:07 | #1

    Johan,

    Thank you for your suggestions. The application now publishes rollover information as well as the average spread over the past 8 hours. I plan to add more brokers shortly.

  2. August 17th, 2009 at 09:40 | #2

    That is excellent Shaun. Amazing that the Swaps can differ that much really (just been reviewing EURUSD). Very nice to see the past 8 hours average spread, will definatly be useful when comparing brokers.

    Hope that you can add others soon, I’m very interested in the different MT4 ECN brokers spreads (such as JadeFX, FXCBS, ATC, Broco, GoMarkets and so on) :)

    Perhaps it could be possible to make a special “observation” page where you can select the currency pairs and brokers you are interested in and have it displayed on the same page? Personally I’m interested mostly in EURUSD, EURCHF, EURGBP, USDCHF, USDCAD and AUDNZD as that is the currencies my EAs trade at the moment. It would be great to have them all displayed at the same time to quickly review the spreads (perhaps we could also limit the shown brokers to top 3 or so in order to save screen equity).

    It is a great service that I use frequently. Keep up the good work.

    BR Johan

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