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Is there a broker without any spread, just commission?

  • #21
  • Apr 19, 2014 1:02pm Apr 19, 2014 1:02pm
Quoting shrike
{quote} What. Of course there is a spread in futures, like everywhere else. Minimum 1 pip since eits 4-digit.
That's true, don't forget about multiple fee/comms (exchange fee, broker fee, data fee, etc..), and recent CME fee hike, no more waiver program ... etc

In general, if we are:
-Just trading FX Majors only
-Big bucks trader (relative)
-US resident
Then, maybe futures is a way to go.

but, If we're not of the above, i think ECN brokers can offer a better deal, if you concerned about safety of your funds there's solution like open another acc on another broker, BG (Bank Guarantee) ... etc
I see it all in between ...
  • #22
  • Edited 10:24pm Apr 19, 2014 10:12pm | Edited 10:24pm
It depends on how much money you have, and how much margin you are going to request from your broker to extend to you. You can trade unlevered, i.e. for each 100,000Euro you buy, you have more than ~US$138,109 deposited with your broker. You can then ask them to not extend you margin, and in exchange, they may provide you with little to no spread. You will still pay a commission for them processing your transaction, but these become significantly reduced ($10M) if you have enough money with them and are active enough. I highly doubt you will find a MT4 broker that will do this for anyone (but maybe?), but anyone with enough money to be trading any sort of size unlevered should certainly have a better broker than your typical MT4 broker (i.e. LCG (Currenex pool), Citi , perhaps Interactive). Of course, these are all ECN brokers.

As for futures, spread+commission will always be worse than spot. Spread is always 1 full pip, and commission+exchange fees, with a CME seat, can get you down in the high $3s for total transaction cost per standard lot (125,000 Euro). This would be the equivelant (we'll say at $3.95 a round turn) of $15.8/M. So future market transaction costs would be 1 pip + .316 pips on a round turn (1.316). In spot, I don't have a lot of money, and I'm at .2-.6 spread (we'll say average of .4) + $20/M in commission - total round turn is .8 pips in transaction costs. I have an acquaintance with much more money trading for the most part on minimal or no leverage who pays 0-.4 in spread (we'll say average of .2) and $10/M in commission - total transaction cost of .3 pips, a full pip better than futures.

As with most things, its easier to make money if you have money -
  • #23
  • Apr 20, 2014 6:38am Apr 20, 2014 6:38am
IronFX has fixed zero spear accounts but I would rather trade with Lmax, their execution is better
Yeah?! Well.. you know, that's just like.. your opinion man! - Big Lebowski
  • #24
  • Apr 20, 2014 10:39am Apr 20, 2014 10:39am
I tried IC Market. It's just Horrible!!!
My MT4 lost connection several times as someone said earlier here.
So even though it's offering Good spread+commission but not worthy.
  • #25
  • Apr 20, 2014 1:35pm Apr 20, 2014 1:35pm
I noticed that Axitrader.com has very low spread. You should checkout to see if meet your requirements.
  • #26
  • Apr 20, 2014 3:05pm Apr 20, 2014 3:05pm
There are broker stp ecn without commision but just spread. Migbank for ex.
  • #27
  • Apr 21, 2014 4:16am Apr 21, 2014 4:16am
Thousands of broker offer spread without comission...
  • #28
  • Apr 22, 2014 12:33am Apr 22, 2014 12:33am
You should check out IC Markets' True ECN account, they offer some of the lowest spreads out there, starting from as low as 0.0 spreads in majors like EURUSD. I've been trading with them for more than a year now and really impressed with their service and support. I'm sure with a little bit of research around in forums you'll figure out they are one of the better brokers out there. cheers!
  • #29
  • Apr 22, 2014 8:13am Apr 22, 2014 8:13am
Zero spread business isn't something anyone should think about! I had a horrible experience with WorldSpreads before they went into administration... They offered zero spreads on some of the main traded markets (if I remember, DAX, GBP/USD...) but they couldn't sustain the business!
  • #30
  • Apr 22, 2014 11:34am Apr 22, 2014 11:34am
Quoting logesharun
You should check out IC Markets' True ECN account, they offer some of the lowest spreads out there, starting from as low as 0.0 spreads in majors like EURUSD. I've been trading with them for more than a year now and really impressed with their service and support. I'm sure with a little bit of research around in forums you'll figure out they are one of the better brokers out there. cheers!
Haven't you experienced any Crash of terminal or Connection Loss?
I tried it on Demo and it was just Horrible! It got crashed several times.
Really I was impressed with their offers and wanted to give it a go but
there Server is Worst!
Probably that is why they are giving such Lowest offers.
  • #31
  • Apr 22, 2014 12:01pm Apr 22, 2014 12:01pm
Quoting Arav007
{quote} Haven't you experienced any Crash of terminal or Connection Loss? I tried it on Demo and it was just Horrible! It got crashed several times. Really I was impressed with their offers and wanted to give it a go but there Server is Worst! Probably that is why they are giving such Lowest offers.
Hi Arav007, Did you try their Demo account In the recent past? I guess the issues that previously existed early last year with connection losses during high volatile times has been completely resolved by improving their LQ providers. As far as I can recall I haven't faced any downtime in the recent past. Did you try contacting their support regarding your issue, they are usually very helpful.

Regards.
  • #32
  • Apr 23, 2014 8:25am Apr 23, 2014 8:25am
Quoting logesharun
{quote} Hi Arav007, Did you try their Demo account In the recent past? I guess the issues that previously existed early last year with connection losses during high volatile times has been completely resolved by improving their LQ providers. As far as I can recall I haven't faced any downtime in the recent past. Did you try contacting their support regarding your issue, they are usually very helpful. Regards.
Yes, I have tested the Demo after starting this Thread.
You can see that someone earlier in this thread has reported that issue.
Yet I's hopeful but got his word right after testing.
  • #33
  • Apr 27, 2014 11:49am Apr 27, 2014 11:49am
Yes there is, Iron FX STP ECN account with no spread, just a tiny commission.
  • #34
  • May 31, 2014 8:59am May 31, 2014 8:59am
Quoting JMaurice
It depends on how much money you have, and how much margin you are going to request from your broker to extend to you. You can trade unlevered, i.e. for each 100,000Euro you buy, you have more than ~US$138,109 deposited with your broker. You can then ask them to not extend you margin, and in exchange, they may provide you with little to no spread. You will still pay a commission for them processing your transaction, but these become significantly reduced ($10M) if you have enough money with them and are active enough. I highly doubt you will find...
Good post.
I use Pepperstone but going off them due to some poor support, I was going to add funds with them but decided to open an account with ICMarkets and their spreads certainly are tighter.

I thought I had read posts of traders using MT4 saying they pay less commission because of the size of LOT they trade and how many Lots per month they trade.
Maybe I was mistaken.
  • #35
  • Jun 1, 2014 3:36am Jun 1, 2014 3:36am
Found that the comparison is very tight between all brokers that have low spreads and commissions. Traders better not decide what broker to open an account depending on that little difference. Regulation, years in business, execution and slippage are the main points to take decision from.

IronFX has zero fixed spread account, commission apply, looking into it(1 full lot):

""""" $18 EUR/USD
USD/JPY

$23 GBP/USD
USD/CAD
USD/CHF
EUR/GBP
AUD/USD

$28 EUR/CHF
NZD/USD
EUR/JPY

$43 GBP/CHF
GBP/JPY

+ $13.50 on the rest

''""""""

The cost for the zero fixed spread account is the same as any broker out there. Lowest cost $18 on EUR/USD USD/JPY = 1.8 pip. Many fixed and variable spread brokers have that or lower spreads.

Conclusion: look into the final cost, when comparison is tight, look into regulation, execution, slippage.
  • #36
  • Jun 1, 2014 3:46am Jun 1, 2014 3:46am
Quoting normtold
{quote} Good post. I use Pepperstone but going off them due to some poor support, I was going to add funds with them but decided to open an account with ICMarkets and their spreads certainly are tighter. I thought I had read posts of traders using MT4 saying they pay less commission because of the size of LOT they trade and how many Lots per month they trade. Maybe I was mistaken.
made the mistake of your life. look into icmarkets truth and judge : http://www.forexfactory.com/showthre...86#post7503786

The very slight difference in spread and commission does not matter when Pepperstone protects clients by having no live quota running in the last 5 and first 5 minutes of the rollover period and weekend open. icmarkets "say" they protect clients in that time, but their action show live quota running AND very wide spread and no respect of real gaps!!!!

don't know what support you are talking about. anyways, other than a serious problem that very rarely to happen, hadn't need any real support from brokers I deal with. Pepperstone have that support needed.
  • #37
  • Jun 2, 2014 2:50am Jun 2, 2014 2:50am
Actually one broker can offer various type of account and some of them offer no spread+ commission while others offer spread + no commission. I see spread + no commission is more popular but it depends on your account, the purpose of that account. E.g Zero fixed spread account (IronFx) and Currenex account (HotForex). Since some trader want 0 spread to optimize their trading strategy so they have to accept the commission.
  • #38
  • Oct 13, 2014 7:06am Oct 13, 2014 7:06am
Quoting HiddenGap
{quote} You can trade futures: no spread, low commissions and regulated.
I'm missing something here... on the tightest futures, the spread is still 1 tick.. no?
  • #39
  • Oct 23, 2014 8:24pm Oct 23, 2014 8:24pm
there's alot brokers would meet your needs.
my suggestion is, not just read their trading condition, for example spread. go and check their price feed and see how exactly the spread occur at live feed.
here's some ea to record brokers spread at spesific time period.
talking about low spread, commision type brokers armada markets are one of kind brokers and also has fast execution.
spread record example using spread alert EA.
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  • #40
  • Oct 24, 2014 3:06am Oct 24, 2014 3:06am
I remember that a broker usually offer various type of accounts with/without comission also with/without spread. I meant you can find any type of account you want in a big broker. TO me, I prefer spread than commission.
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