Feb 04 at 07:38
advancedsmifser posted:
Is anyone here using a no-commission broker?
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.
Feb 05 at 05:28
Christopher332 posted:advancedsmifser posted:Gleywilleyy posted:richardmarcus posted:Gleywilleyy posted:
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.
True that do u know any??
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.
$2 is very reasonable, any other fees that they charge?
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.
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.
Feb 05 at 07:30
Yeah, no one can move forward in forex without a proper learning base.
Feb 05 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.
Feb 06 at 06:16
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 at 11:36
Kroolsc posted:
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
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?!
Feb 08 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 at 09:44
Fabiandelph842 posted:Kroolsc posted:
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
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?!
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.
Feb 08 at 09:49
Ericdier752 posted:advancedsmifser posted:
Is anyone here using a no-commission broker?
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.
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 at 09:40
debragonzalez posted:Fabiandelph842 posted:Kroolsc posted:
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
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?!
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.
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.
