Broker Spreads

I am trying to review broker spreads (brokers not listed on the spread review page of myfxbook). Most brokers on that page start from 0.3 pips on ecn accounts, but i am sure there are brokers with lower.

For example, my system is running at Yadix, I am also recording spreads, many ticks are 0 pips and average for January 2017 is 0.195, are there any more brokers that you know of with such spreads I can check?

@SolFx
this info is not complete,
what is the comission?

I also like Yadix spreads, not only in normal conditions, they are also tight in high volatile market or low liquidity

The spread and the commissions are just one side of the coin. The other one is execution - I mean if the broker shows tight spreads, but on each trade you get negative slippage - it does not matter how tight is the spread.

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

SolFx posted:
I am trying to review broker spreads (brokers not listed on the spread review page of myfxbook). Most brokers on that page start from 0.3 pips on ecn accounts, but i am sure there are brokers with lower.

For example, my system is running at Yadix, I am also recording spreads, many ticks are 0 pips and average for January 2017 is 0.195, are there any more brokers that you know of with such spreads I can check?

You can see a comprehensive broker spreads comparison on this website - www.fxblue.com (very useful charts as well). But beware of the other factors already mentioned by vontogr and Baldo. It is really a combination of factors that tells you the whole story! A broker may have not the lowest spread ever but if execution is superb you end up having the best conditions.

SolFx posted:

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

I see the broker charges the commissions separately which led to the other questions. Commission is important, it is better when it is charged separately. Just of curiosity - what is the commission of your broker with which you run your system?

so you are marketing of yadix, right?

SolFx posted:

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

@SolFx
and what is the point having low spread and high comission

When I was looking for ECN low spread/low commission broker I used https://www.myfxbook.com/forex-broker-spreads . I was mainly looking for EUR/USD

When you take in account that broker is regulated + has good reputation my list became quite short

IC
Pepperstone
Tickmill
TradeView

TradeView looks good on spread test, but it offers only 1:100 which was an issue for my scalping style trading.

Have had zero issues with execution with these brokers.

When you open an account you might want to add IB deal. You will get part of the commission back through these deals without making the trading conditions worse. You also might want to think about trading currency. For some funny reason these AUD brokers offer lower commission when trading in AUD for example 7 AUD /RT or 7 USD /RT. AUD is 0,75 USD so you save 25% from commission using AUD + if you add IB deal you can save even more. In some cases I had extra 20% off through IB deal + saved 25% from AUD currency compared to standard USD commission. Makes a huge save if you scalp with big LOT size

smyri posted:
When I was looking for ECN low spread/low commission broker I used https://www.myfxbook.com/forex-broker-spreads . I was mainly looking for EUR/USD

When you take in account that broker is regulated + has good reputation my list became quite short

IC
Pepperstone
Tickmill
TradeView

TradeView looks good on spread test, but it offers only 1:100 which was an issue for my scalping style trading.

Have had zero issues with execution with these brokers.

When you open an account you might want to add IB deal. You will get part of the commission back through these deals without making the trading conditions worse. You also might want to think about trading currency. For some funny reason these AUD brokers offer lower commission when trading in AUD for example 7 AUD /RT or 7 USD /RT. AUD is 0,75 USD so you save 25% from commission using AUD + if you add IB deal you can save even more. In some cases I had extra 20% off through IB deal + saved 25% from AUD currency compared to standard USD commission. Makes a huge save if you scalp with big LOT size

@smyri
nicely summarized

Yes, spread, commissions, slippage are important BUT...I have been a brave man sending funds to an offshore broker (RVD Markets) which just ''fell off the Internet'' one day - with all client funds, of course!!! I will Never be at unregulated broker again.

tina123 posted:
Yes, spread, commissions, slippage are important BUT...I have been a brave man sending funds to an offshore broker (RVD Markets) which just ''fell off the Internet'' one day - with all client funds, of course!!! I will Never be at unregulated broker again.

I got burned with RVD markets as well.
BUT it was entirely my fault because the website looks like it was not touched for years. I was convinced by someone here on MFB that RVD markets is OK. It was not.
The outcome? It is not necessary to go with regulated broker as e.g. NZ regulation is worth nothing but it is good to check internet for feedback and NEVER ever go with Russian brokers. They all sucks.

Charles_F posted:

SolFx posted:

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

I see the broker charges the commissions separately which led to the other questions. Commission is important, it is better when it is charged separately. Just of curiosity - what is the commission of your broker with which you run your system?

I started with 500 usd on the scalper account, core spreads and round lot commission is 10$/round turn, I have moved balance (higher) to pro account with commission 7$/round turn, I think it's acceptable for DMA execution right?

togr posted:

SolFx posted:

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

@SolFx
and what is the point having low spread and high comission

What is high commission? currently I am paying $7 per round turn, I don't think it's bad, is it?

SolFx posted:

togr posted:

SolFx posted:

togr posted:
@SolFx
this info is not complete,
what is the comission?

Im talking about spreads...

@SolFx
and what is the point having low spread and high comission

What is high commission? currently I am paying $7 per round turn, I don't think it's bad, is it?

$7 is pretty standard without using a cash back service which can reduce it to $5-5.50 depending on amount of trading and provider of the cash back.. cheers

actually using Yadix Instant Rebate program so commissions are reduced by 20%

BaldoN posted:
The spread and the commissions are just one side of the coin. The other one is execution - I mean if the broker shows tight spreads, but on each trade you get negative slippage - it does not matter how tight is the spread.

You are absolutely right, we have consider all of these things before investing our real money! I have also similar experience according to your point! I actually opened a live trading with a broker who offered me 0.1 spread but I faced lots of technical errors there, like slippage, requotes and execution! But now I am trading with 0.2 spread but quite happy (no technical error)!

BaldoN posted:
The spread and the commissions are just one side of the coin. The other one is execution - I mean if the broker shows tight spreads, but on each trade you get negative slippage - it does not matter how tight is the spread.

That’s very true, with slippage, requotes live trading service tight trading spread is meaningless! This is way, before selecting any Forex broker we have to check their Commission, execution, slippage and requotes as well! I see, only regulated type Forex brokers are able to ensure friendly live trading environment without these technical error parameters!