How to Track the Best Forex Spreads Throughout the Day
If you want to trade efficiently, you need more than a good strategy, you need to track your costs as they happen. One of the most overlooked yet crucial costs in forex trading is the spread. It’s the hidden fee you pay on every trade, and over time, it adds up.
So how do you stay on top of it? How can you monitor and take advantage of the best Forex spreads throughout the trading day? The key lies in using the right tools and knowing when to observe market conditions closely.
Why spreads change throughout the day
Spreads are not fixed. They constantly shift based on market activity, liquidity, and even broker policy. During high-volume trading sessions, you will usually find tighter spreads. During quiet times or volatile news releases, spreads widen.
That means the time you choose to trade has a direct impact on your trading costs. Tracking spreads in real time helps you optimize your entries and maximize your edge.
Start with your platform’s built-in tools
Most modern trading platforms include a way to view live spreads. If you are using MetaTrader 4 or MetaTrader 5, for example:
- Open the Market Watch panel
- Right-click inside the panel
- Select Spread to show a new column with real-time spread values
This simple view tells you how much you are paying in spread at any moment. Combine this with a price chart, and you can begin identifying patterns in spread movement.
Use spread indicators for a better visual
Several custom indicators are available to help you track the best Forex spreads across the day. These tools plot spreads on your chart and even show historical spread fluctuations, which can be useful for:
- Understanding which times offer tighter spreads
- Spotting brokers that widen spreads without cause
- Planning future entries during ideal cost windows
Look for free indicators online or within your platform’s community library.
Monitor spreads at session opens and overlaps
Here’s a quick guide to when spreads tend to behave best:
- London session: High liquidity, tighter spreads
- New York session: Similar to London, especially strong during overlap
- Asia session: Quieter market, wider spreads on most pairs
- London–New York overlap: Peak conditions for the best Forex spreads
Tracking spreads over multiple days helps you recognize consistent patterns. For example, you may notice that EUR/USD is consistently tighter between 9 AM and 12 PM GMT. You can then tailor your trading schedule around that data.
Avoid tracking only advertised minimums
Many brokers promote spreads as low as 0.0 pips but that number doesn’t tell the whole story. What matters is the average spread during your trading hours. A broker might offer 0.0 pip spreads on paper, but during real market conditions, they may average 1.2 pips or more.
Tracking real-time data from your own account is more accurate than relying on marketing numbers.
Use third-party tools for multi-broker comparison
Platforms like Myfxbook and FXBlue offer tools that compare spreads across several brokers in real time. These dashboards are great for identifying who really delivers the best Forex spreads for specific currency pairs at any moment.
They’re especially helpful if you’re considering changing brokers or testing different accounts.
Create a personal spread log
This one is old school, but effective. Set up a spreadsheet and record:
- The time of day
- Currency pair
- Spread observed
- Broker name
- Notes about market conditions
After a few weeks, you’ll build your own map of when and where the most cost-effective trading conditions appear.
Tracking spreads might seem like a small task, but it makes a big difference. Knowing when spreads are at their tightest can reduce your trading costs and improve your net performance.
The best Forex spreads aren’t just something you hope for, they’re something you observe, record, and act on. By staying alert and using the right tools, you can take more control over your trades and keep more profit in your pocket.