There is nothing like 0 commission i believe, it only adds up to your spreads that’s why my approach is to find a broker with low commission & thin spreads, something like fxview, tickmill and many more.
i agree with you that it's quite crucial to find either low commission broker or a broker with 0 spreads. try to pay attention to the brokers with fixed spreads, floating spreads serve for scalpers and swing traders, while fixed ones are suitable for new traders and those ones who don't wanna care about checking the news permanently, expecting the widening of these spreads.
Zero spreads can’t be achieved all the time. If you trade with an ECN broker, then the spreads would generally remain on the lower side and may get zero in certain market conditions. So, it will be very hard to find a zero-spread broker because nobody can guarantee zero spreads. As far as the commission fee is concerned, then that’s also low with ECN brokers.
I’ve been trading forex for a long time, but haven’t come across zero-spread brokers. I also haven’t tried to find one because I know it is not possible. I’m content with low spreads because as a trader, I have to stay in the reality.
I have been trading for a year and from my experience, the brokers with 0 spreads are ICM, Avatrade, and FP Markets. The spreads mostly began at 0.0pips in FP markets when trading with EURUSD currency pairs.
In my opinion, the lowest commission brokers are Global Prime, Skilling, and FP Markets, the commission cost per turn lot is $7 in GP and Skilling, whereas in FP Markets it is $6 per turn lot with spreads starting from 0.0 pips in most parts of the trade.
If a broker is offering zero spread, they will cover the costs by increasing the commission rate. So, you better go for a broker with transparent pricing structure. It’s better than being surprised by hidden costs later.
Zero spreads can be possible only on major currency pairs and that too during high volatility. But as not many traders are comfortable with trading in a highly volatile market, you may hardly get zero spreads. Instead, look for narrow spreads and low commissions.
For lower spreads and commission costs, I recommend trading with FP Markets because it offers lower commission costs than other ECN brokers and when trading with EURUSD or other major pairs, the spreads start from 0.0pips with an execution speed of 80ms.
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