ChrisSmilas posted: You must of course concentrate on the spreads but also, ticker value, swaps/overnight fees and commissions because this is a huge oversight for beginners in the markets. Spreads are important and pretty easy to understand but swaps and other Fees need to be researched properly before entering any trade. When opening an account with a broker you can use myfxbook which is great for showing you the trading costs, trading conditions but also check the KID(Key Information Documents) on your brokers website (normally found at the bottom of the home page but if you can't find ask the customer support/live chat at your broker.
Good information. I have learned something good from this post.
Spreads are pretty difficult for new traders to understand and this is okay actually. Everything that you don't know when you enter the market is a good opportunity to find out about it and apply on practice. Spreads are just created for substitution to commissions, or at least they make commissions less. In my opinion, if you just entered the market and start trading, then you shouldn't bother about spreads and pips, because these things just help you to dive deeper in trading activity. You would better find information about trends for example and their reversals.