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bellucik
Feb 18 2014 at 22:40
2 messages
I recently did an audit of my live forex accounts and found something very interesting that I wanted to share and see what other think. To give you some background, I have 2 live accounts, at totally different US forex brokers. I tend to use 1 account to trade swing positions and the other to do interday trades. Since 1 broker offers me around 1.8 pips on eur/usd and the other is 1.2 pips, I tend to keep my daily trading on the lower spread account and figured the higher spread would be fine for my swing trades. However, after looking at my 2013 statements for both accounts something jumped out at me; which was that I would have been about 25% more profitable if I would have traded on the lower pip spread for my swing trades, since each time I traded on that account I was paying about $8 more per 100K I traded. Over the year, this accumulated to over $3500 MORE in trading fees! When I brought this up to my account rep at the broker with the higher spread , he simply pointed out other benefits of being with the company , like features, tools, ect... which means nothing to me if it costs $3500 extra to have things I really dont use or need to be successful in my trading, and when I tried to get back to the point about my spreads, the only solution he offered was depositing more funds into my account which I don't need to do at the other broker to basically get the same pricing anyway. Point is, my experience and trading statements reveal that spreads can be the difference between making profits and possibly even losing money, regardless of how many trades I make, the money adds up! What about everyone else? - BTW dont want to name drop brokers but if anyone wants to know they can message me here.

vontogr (togr)
Feb 19 2014 at 07:18
4862 messages
Well yes spread is cost of each trade you make. So with high spread the otherwise profitable trade can be losing one at the end.
Also from my point of view the lag or latency could be a the same problem. So execution speed is very important too.
For me as European trader is very important to have also high leverage so I can use my small capital wisely:)

You should go with low spread broker like IcMarkets
0.55 comm + 0.1 spread = app 0.7 spread on EURUSD
[referral link removed]

CrazyTraderfx (CrazyTrader)
Feb 19 2014 at 10:16
1717 messages
Forex21
Feb 19 2014 at 19:53
416 messages
togr posted:
Well yes spread is cost of each trade you make. So with high spread the otherwise profitable trade can be losing one at the end.
Also from my point of view the lag or latency could be a the same problem. So execution speed is very important too.
For me as European trader is very important to have also high leverage so I can use my small capital wisely:)

You should go with low spread broker like IcMarkets
0.55 comm + 0.1 spread = app 0.7 spread on EURUSD
[referral link removed]


I like ICMarkets but keep in mind that their spreads are so low because they do a little fore running.

dvejny
Feb 20 2014 at 22:19
2 messages
ic not open account for usa client. In usa is very hard open account where is spread under 1 pip complete.... too big regulation

best cashback for ic markets 1,6usd. For armada 10%. Best cashback for other 30 brokers.
axforexsignal1
Feb 22 2014 at 09:27
4 messages
For us citizen you should try fastbrokers or finfx.

RyanGallavin
Feb 26 2014 at 06:33
1 messages
In fact , many US broker's offer spreads typically less than 1 pip. However, depending on the broker someone trades with, minimum initial deposits may apply like any other location in the world. It's possible due to additional leverage options outside the US , some of those minimums may be lower, but if someone trades with significant capital and trades actively, they SHOUlD be able to find pricing that low. If this isn't the case, they probably haven't looked around that much or asked their broker to make things right. Plain and simple.

berniem
Feb 26 2014 at 06:33
4 messages
I got .9 at fipfx in the US and now I get .7 at fipglobal. Only opened with 10k

qnguyen
Feb 26 2014 at 06:33
4 messages
I have this argument with my friends all the time! Spreads are fees , fees=less money than you had before. Yes, spreads make a difference in long term trading, unless of course you lose all your money and there is no long term trading for you at all 😄

It obviously makes a difference then , what pairs you trade, but that's semantics people! id use fipfxglobal

Forex21
Feb 26 2014 at 20:35
416 messages
I believe the best is if you simple check the brokers spread section here on myfxbook.

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