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Best account type for copy trading / signals

MorpheusZ (khaled912)
Feb 10 2017 at 07:40
posts 14
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?

vontogr (togr)
Feb 10 2017 at 09:09
posts 4862
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.

Kartal (mr_cenk)
Feb 10 2017 at 15:21
posts 44
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


The slippage is not that much related to the spread but depends on other factors like the volume of your orders for example. The tighter the spread, the better chances you have to reach your TPs and avoid early SLs. I believe your choice of option 2 is good for long term. Why account 1 is better in your specified conditions? I didn't understand that.
When it comes to the broker, I would suggest to find one that does not trade against you but beware to read between the lines as sometimes what the broker says is different from what the regulator says 😄

Tiffany (TiffanyK)
Feb 13 2017 at 16:12
posts 427
When choosing an account – you have to find the best one matching your strategy. Also as vontogr@ said – go for comparing the total costs. Not only commission or only spread. This will give you a better analysis for your total (possible) profit or lost.

Accept the loss as experience
Fredrick (shirley_F)
Feb 14 2017 at 10:02
posts 41
I am not sure but maybe there is a way also to check the account type that you will copy the trades from? Could be good to use similar settings or at least to be aware of the backend of what you are copying from.

korn6
Feb 21 2017 at 08:07
posts 10
togr posted:
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.



Excellent advice, you gave me ideas friend!

TheForexCoach
Apr 19 2018 at 10:54
posts 5
We now have copy trading available using SignalStart, they seem to be one of the best 3rd part signal service providers. Our current strategy is ranked 7th on their website https://theforexcoach.signalstart.com/search-signals

vontogr (togr)
Apr 19 2018 at 19:33
posts 4862
korn6 posted:
togr posted:
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.



Excellent advice, you gave me ideas friend!


You are welcome

PingU (ozzy25)
Apr 30 2018 at 06:23
posts 26
togr posted:
korn6 posted:
togr posted:
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.



Excellent advice, you gave me ideas friend!


You are welcome

Bu what about deposit/withrawal fees ...LARGE!

“Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”
vontogr (togr)
Apr 30 2018 at 08:15
posts 4862
ozzy25 posted:
togr posted:
korn6 posted:
togr posted:
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread

So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.

In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.

Any advice?


Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.



Excellent advice, you gave me ideas friend!


You are welcome

Bu what about deposit/withrawal fees ...LARGE!


Can you be more specifics, what does mean large?

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