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My concern on lot commissions

Ericdier752
Feb 04 2021 at 07:38
59 príspevkov
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.
Rogerwood465
Feb 05 2021 at 05:28
22 príspevkov
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.
Mikehussey
Feb 05 2021 at 07:30
58 príspevkov
Yeah, no one can move forward in forex without a proper learning base.
debragonzalez
Feb 05 2021 at 09:58
23 príspevkov
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.
Kroolsc
Feb 06 2021 at 06:16
19 príspevkov
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
Fabiandelph842
Feb 06 2021 at 11:36
24 príspevkov
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?!
Ericdier752
Feb 08 2021 at 07:33
59 príspevkov
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.
debragonzalez
Feb 08 2021 at 09:44
23 príspevkov
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.
vontogr (togr)
Feb 08 2021 at 09:49
4862 príspevkov
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.
Gleywilleyy
Feb 09 2021 at 09:40
47 príspevkov
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.
Jakemark
Feb 09 2021 at 11:41
37 príspevkov
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 have also seen many forex broker scams in my trading career. So, whenever I am choosing a broker, I make sure that it is well regulated and won’t scam me.
Malajind
Feb 09 2021 at 12:52
75 príspevkov
I also made a choice of a broker for a very long time, because I wanted to choose one with which it would be safer than which it would not cheat, therefore, I consider Amarkets worthy, and if it were not so, it would not have lasted on the market for 13 years.
advancedsmifser
Feb 09 2021 at 12:53
35 príspevkov
togr posted:
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.
Okay here are few queries I got:
How is swap rate different from rollover?
What is a reasonable commission price if the broker claims to offer 0 spreads?
Isn’t 35 pips way too much?
Thanks in advance.
sailingconsist
Feb 10 2021 at 05:19
33 príspevkov
Gleywilleyy posted:
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.
I agree. When I was choosing brokers for myself, I made sure that my brokers fit my trading requirements well so that I don’t end up regretting my decision later. My brokers- Fxview and Pepperstone don’t put any restrictions from their end. I can customize my trades as per my analysis.
advancedsmifser
Feb 10 2021 at 11:28
35 príspevkov
debragonzalez posted:
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.
That’s true. The biggest mistake that a newbie can ever make is while choosing a broker. They often overlook the fact that just because their fellow traders are using a broker, it doesn’t mean that it will work for them also.
Ericdier752
Feb 11 2021 at 07:37
59 príspevkov
advancedsmifser posted:
debragonzalez posted:
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.
That’s true. The biggest mistake that a newbie can ever make is while choosing a broker. They often overlook the fact that just because their fellow traders are using a broker, it doesn’t mean that it will work for them also.
A newbie is always at risk. And so they must demo trade with every broker they want to use.
Mikehussey
Feb 12 2021 at 05:32
58 príspevkov
I agree with you Eric! Starting with demos can make a big difference to a trade and for newbies it can even be better.
Fabiandelph842
Feb 12 2021 at 09:44
24 príspevkov
Commissions can turn out to be an extremely important parameter and it is completely okay to make a decision based on that. Lower commission brokers are easily available, so there’s no reason to shell out more bucks.
Lorencecolling
Feb 12 2021 at 12:31
49 príspevkov
I’ve been using some low commission brokers for my trades which includes Fxtm, Fxpro and Fxview. The spreads are also pretty tight on these. So it’s a win-win for me. Otherwise I have seen that brokers with low commission give not-so-appealing spreads.
Jakemark
Feb 15 2021 at 08:30
37 príspevkov
Lorencecolling posted:
I’ve been using some low commission brokers for my trades which includes Fxtm, Fxpro and Fxview. The spreads are also pretty tight on these. So it’s a win-win for me. Otherwise I have seen that brokers with low commission give not-so-appealing spreads.
I hope they are good with their demos too? What I mean is that the demo environment is similar to the live one, like it should be realistic.
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