Is a EUR/USD spread of 1.4 pips too high?
I would think 1.4 pips is too high as the average eurusd spread in the retail forex industry is around 1.0 pips.
A eurusd spread of 1.4 pips means if you were to trade 1 standard lot, the moment you open a trade you will be greeted with a loss of $14 ( meaning 1.4 pips x $10 x 1 lot ) and you must overcome this loss to become profitable.
But if you trade a smaller lot size like 0.01 lot then when you open a trade you will be greeted with a loss of $0.14 ( meaning 1.4 pips x $10 x 0.01 lot) which you also must overcome to become profitable.
Please check around, there are forex brokers with much lower eurusd spread than 1.4 pips your broker is offering you.
Yes, it is very high. The broker I trade with charges 0.3 pips fixed spreads on EURUSD during London & NY hours.
Even the so called low cost brokers, without naming any of them, they charge 0.6-0.7 pips on Pro accounts, and they call themselves cheap. No, it is not cheap.
For the same bottle of cola, would you pay someone higher? Same with brokers, if both brokers have similar tier-1 market regulations, same market conditions on similar CFDs, but 100-300% difference in costs, it is obvious that one broker is extremely expensive.