Alpari UK, the British online trading company, has just sharply reduced the spreads on spot Gold and Silver. The new and tighter spreads are available to clients of the company with MT4 Market and Pro accounts, as well as to owners of MT5 accounts. Therefore a wide clientele will be able to benefit from the improved trading conditions.
On MT4 Market and MT5 accounts:
XAUUSD (Gold) average spreads are slashed from $0.35 to $0.25;
XAGUSD (Silver) average spreads are slashed from $0.03 to $0.02.
On MT4 Pro accounts:
XAUUSD (Gold) average spreads are cut from $0.25 to $0.17;
XAGUSD (Silver) average spreads are cut from $0.02 to $0.01.
It is clearly evident that the reduction is the steepest for MT4 Pro accounts – for Silver the cut is 50%. This probably reflects the fact that trading with precious metals is not commission-free on Pro accounts, while being commission-free on MT4 Market and MT5 accounts. Make sure to have in mind that transaction costs are complex and are not always exhausted by spreads themselves.
The spread reduction has been in place since December 1, 2014, and forms a part of Alpari UK’s efforts to exploit the stable interest traders have shown in spot trading with precious metals. This trend was noted by Hannah Hill, Alpari’s Global Head of Marketing, when the broker announced its monthly volumes for October 2014.
You can find out more about Alpari’s new spreads here