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Safest broker and low spreads - where?

  • #1
  • First Post: Sep 7, 2015 8:46am Sep 7, 2015 8:46am
Hello all,

I am based in the UK, and I'm trying to find a broker with the lowest spreads and commissions, but I'm also aware of the Alpari thread, and someone advocated using banks as risk of bankruptcy with them is minimal. Can anyone suggest where to use that would be safe and low spreads etc? I'm pretty clueless.

Thanks.
  • #2
  • Sep 7, 2015 10:11am Sep 7, 2015 10:11am
Quoting tehmac
Hello all, I am based in the UK, and I'm trying to find a broker with the lowest spreads and commissions, but I'm also aware of the Alpari thread, and someone advocated using banks as risk of bankruptcy with them is minimal. Can anyone suggest where to use that would be safe and low spreads etc? I'm pretty clueless. Thanks.
I would go with Atom8. They are a whitelabel of Dukascopy. Plus they have a hedge fund incubation program.

-Rahul
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #3
  • Sep 7, 2015 2:09pm Sep 7, 2015 2:09pm
I don't think there is a thing called safest broker.
  • #4
  • Sep 7, 2015 2:16pm Sep 7, 2015 2:16pm
They looked good, but I can only do 1,000 deposit max.
  • #5
  • Sep 7, 2015 4:37pm Sep 7, 2015 4:37pm
Quoting rahulkghosh
{quote} I would go with Atom8. They are a whitelabel of Dukascopy. Plus they have a hedge fund incubation program. -Rahul
"hedge fund incubation program" what does that mean?
  • #6
  • Sep 7, 2015 4:38pm Sep 7, 2015 4:38pm
Quoting tehmac
They looked good, but I can only do 1,000 deposit max.
ActivTrades and Darwinex
  • #7
  • Sep 7, 2015 5:20pm Sep 7, 2015 5:20pm
i trade wti oil u.k. i like to find broker that pays out on time when i cash out seems like to me the more larger money i take out the longer it takes to get paid ?
  • #8
  • Sep 8, 2015 2:33am Sep 8, 2015 2:33am
Quoting rahulkghosh
{quote} I would go with Atom8. They are a whitelabel of Dukascopy. Plus they have a hedge fund incubation program. -Rahul
Did you trade with them? It must be new broker, I haven't heard about them and at forexpeacearmy there are only 3 opinions from this year, however they are regulated by FCA in UK. Something that I don't like, that you can't test them with really small capital.
  • #9
  • Sep 8, 2015 2:42am Sep 8, 2015 2:42am
Quoting tehmac
Hello all, I am based in the UK, and I'm trying to find a broker with the lowest spreads and commissions, but I'm also aware of the Alpari thread, and someone advocated using banks as risk of bankruptcy with them is minimal. Can anyone suggest where to use that would be safe and low spreads etc? I'm pretty clueless. Thanks.

Try IC Markets, very good execution and spreads, price can be 0,1 pip from your stop loss and they will NOT hunt it. ASIC regulated. If you open account by cashbackforex you will be paying $5,5 commission per round lot for every pair, the same for GBPUSD and NZDUSD.
  • #10
  • Sep 8, 2015 7:27am Sep 8, 2015 7:27am
Quoting xMeruem
{quote} ActivTrades and Darwinex
I would also suggest these, traded live with Darwinex and still trading with ActivTrades, very satisfied.
  • #11
  • Sep 8, 2015 7:48am Sep 8, 2015 7:48am
ActiveTrades looks charges way too high spread to minors and exotic pairs. Almost twice the spreads Pepperstone charges... Even Dukascopy is too high I think. Pepperstone, ThinkForex and XM have most competitive spreads in retail field according to my research.... XM and Pepperstone are in Top10 retailers in size. Not sure about ThinkForex. Much smaller I think.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #12
  • Sep 8, 2015 8:05am Sep 8, 2015 8:05am
Quoting tehmac
Hello all, I am based in the UK, and I'm trying to find a broker with the lowest spreads and commissions, but I'm also aware of the Alpari thread, and someone advocated using banks as risk of bankruptcy with them is minimal. Can anyone suggest where to use that would be safe and low spreads etc? I'm pretty clueless. Thanks.
Just go with oanda and trade small amounts. To my knowledge they allow you to position size to a penny.

Once you have proved that you can make money then look for a decent broker. I cannot emphasize this more.
.
  • #13
  • Sep 8, 2015 8:06am Sep 8, 2015 8:06am
Try OANDA
  • #14
  • Sep 8, 2015 9:14am Sep 8, 2015 9:14am
Quoting heispark
ActiveTrades looks charges way too high spread to minors and exotic pairs. Almost twice the spreads Pepperstone charges... Even Dukascopy is too high I think. Pepperstone, ThinkForex and XM have most competitive spreads in retail field according to my research.... XM and Pepperstone are in Top10 retailers in size. Not sure about ThinkForex. Much smaller I think.
Well your research is not the best. No doubt you will reply and say some lame excuse about those are not the real spreads or some other nonsense.

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XM in top 10 retail brokers, what paid affiliate site did you see that?
  • #15
  • Sep 8, 2015 10:42am Sep 8, 2015 10:42am
Quoting mitch77
{quote} Well your research is not the best. No doubt you will reply and say some lame excuse about those are not the real spreads or some other nonsense. {image} XM in top 10 retail brokers, what paid affiliate site did you see that?

XM has high spread, but pays well if you're affiliate and I think that's why so many people recommend them

Here are more broker spread to compare, but I think there's something wrong with Admiral Markets Prime spread here, because it's the same as on account without commission.
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  • #16
  • Sep 8, 2015 11:15am Sep 8, 2015 11:15am
Whenever the site says they are tight spreads but the commission is separate, I end up with no idea on what is decent. For example, my demo account on OANDA has on average 1.7 - 2.5 pip spreads on the main pairs, and this is a low as they go, and when I see a site has spreads from 0.1-1 pip but trade commissions of £3.50 or £6 or whatever, I have no idea how to factor that in to decide what is decent, or what the comparative spread would be if it were built in.

Any suggestions?
  • #17
  • Sep 8, 2015 11:54am Sep 8, 2015 11:54am
Quoting tehmac
Whenever the site says they are tight spreads but the commission is separate, I end up with no idea on what is decent. For example, my demo account on OANDA has on average 1.7 - 2.5 pip spreads on the main pairs, and this is a low as they go, and when I see a site has spreads from 0.1-1 pip but trade commissions of 3.50 or 6 or whatever, I have no idea how to factor that in to decide what is decent, or what the comparative spread would be if it were built in. Any suggestions?
You must sum up spread and commission if you compare ECN broker to broker with mark-up in spread. However most of the time brokers with mark-up are more expensive or have terrible execution. There is one ASIC regulated, market maker broker that advertises itself at forexfactory, eurusd 0,7 pip usdjpy 0,5 pip spread, but execution is really slow, so it's better to stay away from MM brokers even if they have very low spread, because you will get worst pricing anyway. Cost measured in spread +commission is really important, but speed and quality of execution is crucial. What's most important, broker needs to be regulated if you don't want to be robbed
  • #18
  • Sep 8, 2015 12:25pm Sep 8, 2015 12:25pm
There are very few good retail Fx brokers I recommend you to use "atcbrokers" if you want to deposit more than 5k USD but for smaller amount I recommend you Global Prime.
Check here for finding low spread brokers: http://www.myfxbook.com/forex-broker-spreads
You can sort brokers list based on spread on each of the major pairs.
Without an edge MM is useless!
  • #19
  • Sep 11, 2015 2:36pm Sep 11, 2015 2:36pm
Hi, this is an ongoing search for everyone of us.
I found Axitrader that offers good spreads. Recently I am thinking going with DMM FX.
  • #20
  • Sep 12, 2015 8:03am Sep 12, 2015 8:03am
Quoting tehmac
Hello all, I am based in the UK, and I'm trying to find a broker with the lowest spreads and commissions, but I'm also aware of the Alpari thread, and someone advocated using banks as risk of bankruptcy with them is minimal. Can anyone suggest where to use that would be safe and low spreads etc? I'm pretty clueless. Thanks.
Mate did you check octafx? I am trading with them and if you like using EUR/USD pair which I usually prefer then you can try it out since their spread is around 0.2 pips while for other pairs it’s slightly higher, but overall pretty balance thing.
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