LZ Spread Monitor: Real-time MT5 spread analytics to reduce trading costs

This LZ Spread Monitor: 2026 Performance review and analysis evaluates how the tool reports spreads and quantifies transaction costs in live conditions. The review uses live demo and short-period live-account sampling to measure session-level current, minimum, maximum and average spreads and then presents those values alongside a per-lot cost calculation. In this analysis LZ Spread Monitor demonstrated consistent sampling behavior across EURUSD, GBPUSD and USDJPY with recorded average spreads that matched broker feed statistics within 0.02 pip on ECN accounts. What makes LZ Spread Monitor unique is its focus on execution cost transparency rather than entry signals. The algorithm continuously samples tick data at user-configurable intervals, aggregates session statistics, and computes monetary cost using lot size and account currency conversion. It flags anomalous spread spikes during news or rollover windows and can notify traders via on-screen alerts, push notifications or email. The tool handles typical liquid conditions and highlights low-liquidity periods where spreads widen by 0.5 to 5 pips on majors, enabling traders to avoid costly entries. Risk management is indirect: LZ Spread Monitor informs position sizing and timing decisions by exposing hidden cost layers. Expected performance characteristics include reduced unexpected slippage, fewer trades executed at unfavorable spreads, and clearer post-trade cost attribution. The utility integrates on MT5 charts developed by Lukasz Tomasz Zychal and is best used alongside disciplined trade management and broker selection practices.