Feb 04 2021 at 07:38
advancedsmifser posted:I prefer low commission brokers over no commission ones. I think when the brokers don’t charge commissions directly, they try to charge it some way or the other. I could be wrong though.
Is anyone here using a no-commission broker?
Feb 05 2021 at 05:28
Christopher332 posted:That’s right and I’ve been using Forextime along with Fxview too. The commissions are okay and there is some advantage with the withdrawals.That’s all I really want. Works for me.advancedsmifser posted:No, I have been using Fxview for awhile and I didn’t face any surprises as such. I get low spreads too so that’s another plus. I don’t even get charged for withdrawals with fxview. Some other options you can explore are IB, Pepperstone, Amarkets, etc.Gleywilleyy posted:$2 is very reasonable, any other fees that they charge?richardmarcus posted:I find fxtm and fxview to be quite alright. Using them for the low commission charges and spreads. Fxview is charging me $2 and fxtmn $4 for entry and exit. And as per slippage, the platform's quite balanced, I’m using MT4.Gleywilleyy posted:True that do u know any??
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.
Feb 05 2021 at 07:30
Yeah, no one can move forward in forex without a proper learning base.
Feb 05 2021 at 09:58
I think commissions and spreads are very important in our trades because they will decide how much profit we will take home in the pocket. This is a common newbie mistake that they gain only half knowledge.
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
Feb 06 2021 at 11:36
Kroolsc posted:There are many instances when scam brokers lure the traders in their trap by using the promises of not charging any brokerage. But it is common sense, how can they provide services without charging some fees?!
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
Feb 08 2021 at 07:33
The lot commissions are a good way but I think there are other methods also where brokers can earn money through indirect methods, without putting upfront cost to the traders.
Feb 08 2021 at 09:44
Fabiandelph842 posted:I think most of the traders only choose a broker on the basis of the commission. This should not be the only criteria but leverages and spreads and other things should also be thought of while choosing a broker.Kroolsc posted:There are many instances when scam brokers lure the traders in their trap by using the promises of not charging any brokerage. But it is common sense, how can they provide services without charging some fees?!
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
Feb 08 2021 at 09:49
Ericdier752 posted:advancedsmifser posted:I prefer low commission brokers over no commission ones. I think when the brokers don’t charge commissions directly, they try to charge it some way or the other. I could be wrong though.
Is anyone here using a no-commission broker?
1. Broker always charges you a fee
2. It is either hidden as spread markup so for example eurusd spread 35 pipettes.
3. It could be transparent as commission e.g. $5.5 for 1 lot
4. It could be combination of both so spread markup e.g. 8 pipettes and $10 commission
5. Moreover while commissions are fixed the spread may be variable or dynamic
6. Also brokers charges you fee for keeping trade open called swap. Rarely they pay you this fee. It depends on pair and broker.
Feb 09 2021 at 09:40
debragonzalez posted:Yes, that’s true. If a trader looks at just one feature, it won’t work. There are a number of things that must be considered if you want to make sure that you make a good broker choice.Fabiandelph842 posted:I think most of the traders only choose a broker on the basis of the commission. This should not be the only criteria but leverages and spreads and other things should also be thought of while choosing a broker.Kroolsc posted:There are many instances when scam brokers lure the traders in their trap by using the promises of not charging any brokerage. But it is common sense, how can they provide services without charging some fees?!
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
Fabiandelph842 posted:I have also seen many forex broker scams in my trading career. So, whenever I am choosing a broker, I make sure that it is well regulated and won’t scam me.Kroolsc posted:There are many instances when scam brokers lure the traders in their trap by using the promises of not charging any brokerage. But it is common sense, how can they provide services without charging some fees?!
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
I also made a choice of a broker for a very long time, because I wanted to choose one with which it would be safer than which it would not cheat, therefore, I consider Amarkets worthy, and if it were not so, it would not have lasted on the market for 13 years.
Feb 09 2021 at 12:53
togr posted:Okay here are few queries I got:Ericdier752 posted:advancedsmifser posted:I prefer low commission brokers over no commission ones. I think when the brokers don’t charge commissions directly, they try to charge it some way or the other. I could be wrong though.
Is anyone here using a no-commission broker?
1. Broker always charges you a fee
2. It is either hidden as spread markup so for example eurusd spread 35 pipettes.
3. It could be transparent as commission e.g. $5.5 for 1 lot
4. It could be combination of both so spread markup e.g. 8 pipettes and $10 commission
5. Moreover while commissions are fixed the spread may be variable or dynamic
6. Also brokers charges you fee for keeping trade open called swap. Rarely they pay you this fee. It depends on pair and broker.
How is swap rate different from rollover?
What is a reasonable commission price if the broker claims to offer 0 spreads?
Isn’t 35 pips way too much?
Thanks in advance.
Feb 10 2021 at 05:19
Gleywilleyy posted:I agree. When I was choosing brokers for myself, I made sure that my brokers fit my trading requirements well so that I don’t end up regretting my decision later. My brokers- Fxview and Pepperstone don’t put any restrictions from their end. I can customize my trades as per my analysis.debragonzalez posted:Yes, that’s true. If a trader looks at just one feature, it won’t work. There are a number of things that must be considered if you want to make sure that you make a good broker choice.Fabiandelph842 posted:I think most of the traders only choose a broker on the basis of the commission. This should not be the only criteria but leverages and spreads and other things should also be thought of while choosing a broker.Kroolsc posted:There are many instances when scam brokers lure the traders in their trap by using the promises of not charging any brokerage. But it is common sense, how can they provide services without charging some fees?!
Don’t go only with commissions because a broker will charge a commission to provide you with service. I am using Fxview which has a pure ECN account. The rate of commission is 2 dollars per lot round turn. It is very transparent but there are other brokers too which do not charge transaction cost. There are STP accounts as well which don’t charge the traders for the commission (like IB) but earn through the difference in the spreads
Feb 10 2021 at 11:28
debragonzalez posted:That’s true. The biggest mistake that a newbie can ever make is while choosing a broker. They often overlook the fact that just because their fellow traders are using a broker, it doesn’t mean that it will work for them also.
I think commissions and spreads are very important in our trades because they will decide how much profit we will take home in the pocket. This is a common newbie mistake that they gain only half knowledge.
Feb 11 2021 at 07:37
advancedsmifser posted:A newbie is always at risk. And so they must demo trade with every broker they want to use.debragonzalez posted:That’s true. The biggest mistake that a newbie can ever make is while choosing a broker. They often overlook the fact that just because their fellow traders are using a broker, it doesn’t mean that it will work for them also.
I think commissions and spreads are very important in our trades because they will decide how much profit we will take home in the pocket. This is a common newbie mistake that they gain only half knowledge.
Feb 12 2021 at 05:32
I agree with you Eric! Starting with demos can make a big difference to a trade and for newbies it can even be better.
Feb 12 2021 at 09:44
Commissions can turn out to be an extremely important parameter and it is completely okay to make a decision based on that. Lower commission brokers are easily available, so there’s no reason to shell out more bucks.
Feb 12 2021 at 12:31
I’ve been using some low commission brokers for my trades which includes Fxtm, Fxpro and Fxview. The spreads are also pretty tight on these. So it’s a win-win for me. Otherwise I have seen that brokers with low commission give not-so-appealing spreads.
Lorencecolling posted:I hope they are good with their demos too? What I mean is that the demo environment is similar to the live one, like it should be realistic.
I’ve been using some low commission brokers for my trades which includes Fxtm, Fxpro and Fxview. The spreads are also pretty tight on these. So it’s a win-win for me. Otherwise I have seen that brokers with low commission give not-so-appealing spreads.
