Proliferation of One/Zero Pip spread brokers

Are they serious?

1 or no spread at all?

Hmm.. One even is advertised here at FF offering zero spread and refund of commission if position is a loss. WOW!

I guess, they might offer ZERO CHANCE withdrawal as well?

lol, it takes the word 'bucketshop' to a whole other level

Someone had a good idea though, I bet they've got gullible newbies flooding in!

They're very generous, if you lose dollars they'll give you back a few cents, how kind

lol, how long before we see the Ask below the Bid I wonder!

thats really shady. it means theyre probably charging you to hell somewhere else.

That's correct, 6 pips for every profitable trade.

Yeap. This is Forex Club. They are 3pip broker and 0 pip on their new trading platform expressfx. No spread at all but they charge you a pretty big commissions on profitable trades. There is no free lunch in this world.

Just a quick reply.
Forex Club has TWO avenues you can take.
1. ExpressFX
OR
2. ClassicFX

The ExpressFX is suited for those new to forex. Fees to trade only kick in when you make a profitable trade. The fees are $0.40 per $1000 traded. Eventually when I hop from a micro account to a mini I may find the $0.40 / $1000 a bit pricey, but it's better than surprise spreads.

Please get the stats right for the right product. If I had read just this forum and had not stumbled on ForexClub's website BEFORE this thread I probably would have passed over this broker thinking that they were a rip of based on what some of you are posting.

From a beginner standpoint ForexClub looks GREAT for several reasons.

1. Zero spread ! (I/You get NO spread surprises!!!) I heard that spreads for a currency pair can jump from 2 pips to 30 pips depending! That's crazy! This Zero Spread method guarantees that no "monkey business" takes place and that my fees for trading are easily calculated based on the amount I trade.

2. No charges for trading that is non-profitable! Maybe some of you like being charged when you lose a trade, but I don't. This is a very cool feature. I wish I could do it with some stocks I'd like to get rid of.

Have a great day

After reading up on several important topics to a beginning trader such as myself (rollover, swap, interest, premium), I've concluded that ForexClub is not for me. They are not SWAP-free, rollover-free etc...

For the fee they charge of $0.40 per winning trade on every $1000 (with a max of $5000), I find that I'd be paying the same as a broker that charged me 2pips spread to get in and out of a trade (4 pips total. 2 to get in and 2 to get out). Anyhow, you'd need to have a trade that goes up 5 pips minimum before you make money. This is not ideal for scalping since you want as low a spread or commission as possible (0.5pip or less per lot) in order to make trading worth your time.

I plan to scalp with one brokerage that offers a low fixed spread, whereas I plan to go long with a broker that permits swap/rollover etc. At the moment I haven't found one that has both features. The swap-free broker is a bit more expensive, but hey, if you're betting that the market will spin in the right direction a couple hundred pips, then you have nothing to complain about with a 4 pip spread fee.

Best of luck to all of you.

Some brokers have even negative spreads, but MT4 doesn't allow this. MT5, on the contrary, does.

I personally prefer ECN brokers. If you ask for their spread, make sure theier spread is variable and check their execution and latency.

To me, spreads are important but reliability (for execution, take profit and stop loss accuracy) on high-impact events is much more an indicator.

I found a few brokers only (after hundreds of tentatives with hundreds of brokers), that give me satisfaction:
- Royal Capital Markets
- IC Markets
- FX Primus
not convinced about Exness, Orbex, XM, etc.