If you compare to Forex brokerages, yes. But consider the volatility of BTCUSD, you can make profits despite the high spreads. Usually BTCUSD can fluctuate 5%

If you compare to Forex brokerages, yes. But consider the volatility of BTCUSD, you can make profits despite the high spreads. Usually BTCUSD can fluctuate 5% - 20% everyday, and the spread is only about 0.5% - 2% (one side).