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Is there a broker without any spread, just commission?

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  • First Post: Apr 8, 2014 7:17am Apr 8, 2014 7:17am
Hello All,
I have been searching for a reliable broker for scalping purpose.
So is there any 'Reliable' regulated broker which doesn't has any Spread, though can charge commission on trades?
If this is not possible then brokers with Lowest possible 'Fixed' spread?

Thanks in Advance
http://bostontechnologies.com/soluti...o-spread/index
Quoting Arav007
Hello All, I have been searching for a reliable broker for scalping purpose. So is there any 'Reliable' regulated broker which doesn't has any Spread, though can charge commission on trades? If this is not possible then brokers with Lowest possible 'Fixed' spread? Thanks in Advance
NO
It seems quite impossible to find one resonable broker without spread but with commission because those are offering just commission, it is designed in such a way that it can be called a 'Fixed Spread' in greater amount.
Anyway, can anyone suggest any 'Reliable' broker without any commission but with Fixed and Lowest possible spread?
I am even looking for one myself here. I will be glad if i can get an update from here.
Any ECN STP brokers will have very little spread and charge commission only.

Some examples: IC Markets, IB Interactive, MB Trading, LMAX, ThinkForex...

I find "fixed" spread is not always reliable. When there is high volatility especially during news time or extremely low volume time, the spread will not be fixed anymore, it will widen and sometimes several times over.
Make your losses in demo. Earn your profits live.
InstaForex Eurica accounts have 0 spreads, but they charge a commission per trade. However, just be careful to keep your profit per trade under 10% of your equity. They have a policy giving them the right to deduct profits if you make over 10% on one trade.
Quoting Arav007
Hello All, I have been searching for a reliable broker for scalping purpose. So is there any 'Reliable' regulated broker which doesn't has any Spread, though can charge commission on trades? If this is not possible then brokers with Lowest possible 'Fixed' spread? Thanks in Advance
You can trade futures: no spread, low commissions and regulated.
Wyckoff VSA: Always FIBbing, but never lying.
Quoting Forexia
Any ECN STP brokers will have very little spread and charge commission only. Some examples: IC Markets, IB Interactive, MB Trading, LMAX, ThinkForex... I find "fixed" spread is not always reliable. When there is high volatility especially during news time or extremely low volume time, the spread will not be fixed anymore, it will widen and sometimes several times over.
Thanks a lot for your input. You have provided what I'm searching for. Some real info.
Here, LMAX requires minimum deposit of $10,000 which is certainly far out of my range. I can be called as 'Nano' trader with 'Nano' fund.

Interactive Brokers doesn't provide that much info. Actually there website isn't user friendly. Also they don't support 'MT4' probably.

MB Trading is an US based broker. So it's not appropriate for me.

Think Forex has a spread of around 1 in average which is quite good. So it's a check worthy broker. It's minimum deposit is $250.

So Far, IC Markets seems the Best fit. It's minimum deposit is $200, providing ECN with low commission and most importantly very low spreads [at least what they are claiming]. Other trading conditions are flexible too. So I'll give this a try for sure.

Currently I'm testing 'MahiFX' on demo and so far it's spreads seeming reasonable. But I'm not sure about their credibility. If you guys know about it please share.

One main concern remains is the 'Variable Spread'. Because this spread can widen at moments and how far we don't know. But it is also true that we wont get the lowest spread with 'Fixed' spread facilities. Or if we get one [ like 'jhehe' stated above about InstaForex Eurica], the commission will be such that having spread is better than that. Anyway, I've to control the spread and impose conditions thus the EA doesn't open orders during out of control 'Spreads'.
Quoting HiddenGap
{quote} You can trade futures: no spread, low commissions and regulated.
Heard about it but never checked.
Now I've to have a look for details.
Well if you would give me a (honest, non-bucketshop) Broker with Zero spread, I would be a Millionaire in two years.

Without the spread it would be very easy to make money in Forex. The spread is like the Zero in Roulette, of course the Houses don't wanna give up their Advantage, that's why there is NO Zero spread broker
Forex is a losers game.
Quoting trader121
Well if you would give me a (honest, non-bucketshop) Broker with Zero spread, I would be a Millionaire in two years. Without the spread it would be very easy to make money in Forex. The spread is like the Zero in Roulette, of course the Houses don't wanna give up their Advantage, that's why there is NO Zero spread broker
Finally, someone sensible has spoken. When will traders learn. If a broker offer zero spread, how will they make profit. Expect some extra charges. Also, 400:1 leverage is not a bad leverage, as those who really know what they are doing can successful use such leverage.
Quoting HiddenGap
{quote} You can trade futures: no spread, low commissions and regulated.
What. Of course there is a spread in futures, like everywhere else. Minimum 1 pip since eits 4-digit.
Quoting Dkam
http://bostontechnologies.com/soluti...o-spread/index
The answer is no.
Quoting trader121
Well if you would give me a (honest, non-bucketshop) Broker with Zero spread, I would be a Millionaire in two years. Without the spread it would be very easy to make money in Forex. The spread is like the Zero in Roulette, of course the Houses don't wanna give up their Advantage, that's why there is NO Zero spread broker
That is why I am ready to pay the 'Commission'. It is normal that the brokers earn money via Spread if they are not going to the 'Mean' way. [Bucketshop].
So reasonable 'Commission' can Help them regarding it.
Quoting Arav007
{quote} Thanks a lot for your input. You have provided what I'm searching for. Some real info. Here, LMAX requires minimum deposit of $10,000 which is certainly far out of my range. I can be called as 'Nano' trader with 'Nano' fund. Interactive Brokers doesn't provide that much info. Actually there website isn't user friendly. Also they don't support 'MT4' probably. MB Trading is an US based broker. So it's not appropriate for me. Think Forex has a spread of around 1 in average which is quite good. So it's a check worthy broker. It's minimum deposit...
Well for LMAX, there are Introducing Brokers for them and they offer lower minimum deposit amount and lower commissions if you open an account with LMAX through them. IB is the only one that requires $10K capital but its spread is very good even during news time and they just needed it for the very initial deposit after that, if your account amount drops below $10K, they still let you trade even if you close the account temporarily and re-open it with them. So still worth looking at them if you are able to scrap together $10K. Both of them are really good ECN brokers with very good spread and highly regulated. LMAX is actually an exchange. Just don't want you to miss out on some brokers just because of their initial minimum deposit.

IC Markets and ThinkForex really offers the same spread I find. IC Markets only offers zero spread or sometimes -ve spread which is Bid > Offer price on their cTrader platform accounts but the commission in USD is calculated in base currency so for any currency more expensive than USD, the commission is quite high comparatively. So what a lot of people do is trade the pairs with base currencies more expensive than USD's like EU, GU on their MT4 accounts which has very small spread but lower commission and trade the cheaper than USD currencies like AU and NZ (soon to change) on their cTrader platform.

And as to variable spread vs. fixed spread, you should rather go with variable spread because even though the spread is stated as "variable" they actually variable within maximum 1, 1.5 pips with those aforementioned brokers unless during absolute extreme market times and even during those times, I have only seen them varying up to 2 pips so it should be quite manageable through EA's. Whereas with "fixed" spreads, although they are advertised "fixed", they are not really that "fixed". First of all, they only "fix" those spreads on limited amount of currency pairs, usually the most frequently traded ones like EU and sometimes on UJ, most of the other spread is still not fixed and varies sometimes up to 2 pips and more. And when news especially breaking news times comes, then all hell break loose and all "fixed" spread becomes variable spread of sometimes up to 10 even 20 pips.

Just my personal take. Good trading!
Make your losses in demo. Earn your profits live.
I already tried IC MARKETS. They offer quite good trading conditions, low spread, average commission, however I've got some terrible problems with their servers. It crashed several times for me. Also I don't like their execution if I opened more than 10 lots per trade (slippage).

I opened an account through an Introducing Broker person like "Forexia" mentioned. The Introducing Broker represents a group which is making very high trading volume, that's why he can provide interesting trading conditions. I trade with MIG BANK / SWISSQUOTE on their prime plus account. I mostly trade EURUSD during London and New York sessions - average variable spread for me around 0,065 pips, commission 1,65 USD / 1 lot per side and minimum deposit $2000.

However that's far from their public offer.
Quoting Forexia
{quote} Well for LMAX, there are Introducing Brokers for them and they offer lower minimum deposit amount and lower commissions if you open an account with LMAX through them.

IC Markets only offers zero spread or sometimes -ve spread which is Bid > Offer price on their cTrader platform accounts but the commission in USD is calculated in base currency so for any currency more expensive than USD, the commission is quite high comparatively. So what a lot of people do is trade the pairs with base currencies more expensive than USD's like EU, GU on...
Thanks once again for making things clear.
Can you provide the names of the IBs of LMAX where the deposit is like IC market?
And can I use the same EA of MT4 in IC Markets's 'cTrader' platform? If I just trade EURUSD, GBPUSD, USDJPY, EURJPY then I should choose MT4 of IC Markets?
Regards
Quoting Arav007
{quote} Thanks once again for making things clear. Can you provide the names of the IBs of LMAX where the deposit is like IC market? And can I use the same EA of MT4 in IC Markets's 'cTrader' platform? If I just trade EURUSD, GBPUSD, USDJPY, EURJPY then I should choose MT4 of IC Markets? Regards
I only know two and both are regulated. BNFX (http://www.bestecnz.com/) and FXMTF. If you open up live accounts for LMAX through BNFX, your initial min. deposit is $1,000 USD instead of $10,000 USD and you also get rebates on commission. Your funds will be held at LMAX.

Hope this helps. Good luck!
Make your losses in demo. Earn your profits live.
spread and commission are similar, but I often see broker offer spread + no commission instead only com without spread. I think spread is more acceptable.
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