ECN with and without commissions.
Member Since Jul 09, 2020
39 posts
Feb 01, 2021 at 06:28
jimmyneeesham posted:I agree with you. There is no point of paying such high commissions for the sake of low spreads. There are so many options available where the spreads are low with a lower commission so it is better to go for that instead.
I don’t really have recommendations but all I can say is that no one should ever compromise on trading conditions or pay higher than what’s needed.
Member Since Oct 23, 2020
41 posts
Feb 01, 2021 at 11:35
robindude posted:Yea, that’s what I just said. People just want a reason to place blame on, never look at things they overlooked or deemed unimportant.Mathewshayden posted:Very good but they will complain the moment their funds are being stolen
There are many who don’t actually care about regulations, and that’s why unregulated broker firms exist.
Member Since Jul 06, 2020
28 posts
Feb 03, 2021 at 04:47
Harshalgibbs posted:I have used these brokers too. I think there are some things that you cannot avoid at any cost when you’re trading with a broker like the transaction cost, leverage, services, conditions etc. I’m not complaining but I haven’t had a good experience with a whole lot of brokers. I was scammed in the beginning and then there was some transaction issue with a few others. Fxview has really tight spreads and the competitive trading environment keeps me motivated. XM, Etoro and Forex.com go well for micro accounts.
It is not that difficult to find an ECN broker that offers low spreads. Just make sure the broker has 0.1 to 3 pips and the spreads are flexible. I use XM and Fxview and I really like the spreads. The ECN account has a deep liquidity pool and competitive spreads.Even the leverage is high. Works very well for me so I stick to these.
Member Since Jul 09, 2020
39 posts
Feb 04, 2021 at 07:51
Ericdier752 posted:Be it STP or any account type, just go with brokers that are trustworthy and look after your trading needs. At first I fell for a fixed spread broker that was charging high commissions. That caused quite an imbalance to my money management and the profits were also bad. I started reading and then realised it is better to look for a variable spread broker. I switched right after.
I just started trading live and I have such similar questions. As of now I’m confused about whether it is important to trade with a domestic broker or offshore regulated brokers are good too? Any suggestion will do.
Elena Triston (ele020)
Member Since Apr 15, 2020
219 posts
Feb 08, 2021 at 06:08
Ericdier752 posted:Trade with the broker who is registered/regulated under your jurisdiction. For example if you reside in UK, trade with a broker who is registered/regulated with FCA.
I just started trading live and I have such similar questions. As of now I’m confused about whether it is important to trade with a domestic broker or offshore regulated brokers are good too? Any suggestion will do.
Thats how i choose a broker. It gives better security to your account.
The more your practice, the more you learn.
Feb 08, 2021 at 06:26
Harshalgibbs posted:I am not much sure about demo trading because it fills you with confidence and when you go live, nothing seems to be working. For me, demo trading is nothing more than wasting time.Ericdier752 posted:I agree that demo trading is a good way of testing your skills without having to worry about blowing your account. You can apply different strategies on your demo account and find out whether they are worth applying on your live account or not.Garrychris554 posted:I tried doing that but couldn’t figure it out like that. I think working on demos is a better way. There is no possibility of losing and the worst case scenario is blowing up an account which I think is a part of the learning process. I have little experience with trading but I keep trying so...
@Eric Make a list of brokers you want to trade with and compare their spreads. Whatever suits you, go with it. Simple as that.
Member Since Oct 23, 2020
41 posts
Feb 08, 2021 at 10:00
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Member Since Sep 30, 2020
58 posts
Feb 09, 2021 at 04:30
Mathewshayden posted:It is meant to happen because of the unpredictable nature of the market. That’s why it is said that there are no guarantees in the forex market and you have to be prepared for anything and everything.
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Member Since Nov 24, 2020
28 posts
Feb 10, 2021 at 10:03
Mathewshayden posted:Flexibility is the key to winning because if we are flexible enough we can earn a lot of good money. I was scalping because the markets were not that good. So there are many brokers in the market but for me the most suitable broker is Fxview due to low spreads. When the markets were moving again I came to position trading through IB because of its good analytical tools. So you cannot always trust one strategy. The brokers charge their fees because they provide us services.
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Member Since Oct 23, 2020
41 posts
Feb 10, 2021 at 12:18
ele020 posted:I in fact prefer brokers regulated by multiple financial authorities.Ericdier752 posted:Trade with the broker who is registered/regulated under your jurisdiction. For example if you reside in UK, trade with a broker who is registered/regulated with FCA.
I just started trading live and I have such similar questions. As of now I’m confused about whether it is important to trade with a domestic broker or offshore regulated brokers are good too? Any suggestion will do.
Thats how i choose a broker. It gives better security to your account.
Member Since Oct 09, 2020
36 posts
Feb 15, 2021 at 11:47
There are many brokers in the market which provide pure ECN accounts which are very easy to understand. For example I am using Fxview which charges per lot. There are other brokers too who use STP models such as alpari, pepperstone etc. So there are different models of commission.
Member Since Jul 14, 2020
42 posts
Feb 16, 2021 at 09:27
Garrychris554 posted:This is true. If you are scalping then I think STP accounts won’t be beneficial for you because it will ruin your profit margins.
ECN or some other account, no broker can provide you free service. It is absolutely sure that a broker also needs to run their house.
Member Since Oct 09, 2020
36 posts
Feb 16, 2021 at 11:44
Hey Philip, I too think that if a trader wants tightest spreads possible, then pure ECN accounts would be much beneficial. You will get tighter spreads which are so essential for scalping.
Member Since Sep 30, 2020
58 posts
Feb 18, 2021 at 04:18
Garrychris554 posted:Yeah, I agree with you. Who will provide a free service for nothing? It’s not practical at all.
ECN or some other account, no broker can provide you free service. It is absolutely sure that a broker also needs to run their house.
Member Since Jun 29, 2020
38 posts
Feb 18, 2021 at 11:06
Sure! There are plenty of low commission brokers out there. You’ll find one easily. I suggest you go with a low commission broker instead of a no commission one. This will save you some hassle.
Member Since Jun 15, 2020
59 posts
Feb 19, 2021 at 05:01
There are options like Pepperstone, Swissquote, XM, Xtb, Forex.com, Fxview. I have used them all so I know how it must be. You can always begin with a demo account in my opinion and experience a platform. This will give you a fair idea of what the services and conditions of a platform are.
Member Since Jun 30, 2020
47 posts
Feb 19, 2021 at 13:07
marnuslabushane posted:Try not to be so scared of a broker so much. They are essentially for a trader and just simply go with low commission and reliable trading platforms. Like I have always used brokers that don’t charge so high and the services are really good as well. Since it worked out fine for me, I am okay with it. I’ve used IB and Fxview mostly. Both are different kinds of brokers in a way, but when it comes to my particular trading needs, they work just fine.
I always get confused with this stuff. I mean should I go with a broker that is very good when it comes to the trading conditions but charges high commision or should I just stick to no commission broker that provides okayish service?
Member Since Nov 23, 2020
15 posts
Feb 23, 2021 at 09:27
salamibrish posted:And how low are Fxview’s spreads? I’ve heard this name before but never quite considered using it.Mathewshayden posted:Flexibility is the key to winning because if we are flexible enough we can earn a lot of good money. I was scalping because the markets were not that good. So there are many brokers in the market but for me the most suitable broker is Fxview due to low spreads. When the markets were moving again I came to position trading through IB because of its good analytical tools. So you cannot always trust one strategy. The brokers charge their fees because they provide us services.
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Member Since Nov 24, 2020
28 posts
Feb 23, 2021 at 11:46
layerchazard posted:It says 0 pips on their website but that’s just where it starts. In actual terms it can get higher but it doesn’t really get higher than 0.5 pips. I do make sure though that I don’t trade in dull times when spreads everywhere can get somewhat crazy.salamibrish posted:And how low are Fxview’s spreads? I’ve heard this name before but never quite considered using it.Mathewshayden posted:Flexibility is the key to winning because if we are flexible enough we can earn a lot of good money. I was scalping because the markets were not that good. So there are many brokers in the market but for me the most suitable broker is Fxview due to low spreads. When the markets were moving again I came to position trading through IB because of its good analytical tools. So you cannot always trust one strategy. The brokers charge their fees because they provide us services.
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
