Hi, am currently trading EU using IC markets trading eur/usd as spread often 0 and my stop losses are <0.5 pips. Therefore finding a low spread (close to 0) and low commission broker is crucial. any recommendations/help on brokers which meet this i helpful. Tickmill seeming most promising. (also can qualify as professional client)
I think fxview might suit your needs because their spreads are quite tight on majors and if I talk about commission,s then their commissions are even lower then tickmill only $1/100k per lot. And if you go for a professional client, then you can also get leverage upto 500X.
I recommend trading with FP Markets, an ASIC and cysec broker that offers lower commission costs than other ecn brokers and the spreads when trading with EURUSD or other major pairs tend to start from 0 pips.
From my trading experience, I suggest FP markets for lower spreads because I use their raw ecn account for scalping, and when I trade with major pairs like EURUSD or GBPUSD, the spreads began at 0.0pips for most parts of the trade.
KenneyyFx posted: When i read 'CySec broker' or 'regulated by CySec' - it gives me the shivers!
It basically means the broker operates in Cyprus so as to take full advantage of CySec's crooked laws that favour brokers and not their clients.
In simple terms it means 'Do NOT trust the broker !!!'
Which regulations do you think are better for traders then? Most of the reputed brokers like fxview, ic, XM, fxtm are registered with CySEC. They are going strong. Or do you have any personal experience as such?
ZFX is good that generally, they have different account type to use. Either you want high leverage, raw spread, or lower deposit amount, you can choose. I dont know if any other platform is same, they offer crypto too. But they do not accept some of the nationality. I have to check if u want to know
Benalden posted: Hi, am currently trading EU using IC markets trading eur/usd as spread often 0 and my stop losses are <0.5 pips. Therefore finding a low spread (close to 0) and low commission broker is crucial. any recommendations/help on brokers which meet this i helpful. Tickmill seeming most promising. (also can qualify as professional client)
I read many times bad opinions about this broker, although I myself did not work with him, but what do you say there were bad moments in your work?
Honestly, 0 commission is still not even sustainable in FX market. You may hear that there are 0 commission fee for stock trading app somehow..... but it is not the case in fx market due to high volatility and leverage..... Maybe there are some brokers offering.... but nearly all of them are Market maker.
Smith2525 posted: 0% commission can be found with ECN brokers, but you won't find it with a 0 pip spread.....
Yeah, there is no such thing as 0 spread. It is always a wise idea to go with an ecn broker offering low spreads and low commissions. Reason being, zero spreads will hike commission charges as well. One of the options can be fxview, their spreads and commissions are low and give no trouble.
I beleive that you have to understand that brokers also want to earn money. It's pretty terrible to make some product on the market and get for it nothing actually. Financial market is not a charity platform and there are no products which can be free of charge. Brokers earn their money from commisions/spreads and that is their main earning. In my opinion, it's the same as propose a trader to trade all day, spend his/her time and nerves and give him/her nothing for it. I guess that brokers also deserve a proper relation and we, traders, must provide them with. At leasy we shouldn't be disagreed with their policies regarding commissions.