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Need broker with following requirements

  • #1
  • First Post: Nov 27, 2015 3:22am Nov 27, 2015 3:22am
Hi!

I'm looking for a broker with these characteristics:

1. fixed spread on gbpusd and usdcad (or very low spreads 24 h hours)
2. very low costs (better no costs => just spread costs)
3. cashback

Do you know any broker, that is older than 2 years, which offers this?

thank you

Peter
  • #2
  • Nov 27, 2015 4:00am Nov 27, 2015 4:00am
I use fixed spread account with Hotforex to trade some volatile releases like GDP and PMI's, its performing good. Can't say i the spreads are low (2.5 pip for GBP/USD and 2.7 for USD/CAD) but it suits me as I make around 5-6 entries monthly so basically I don't care much about spreads. They also offer plenty of cashback options but its for scalpers I guess so I don't use it.
Quoting peter1811
Hi! I'm looking for a broker with these characteristics: 1. fixed spread on gbpusd and usdcad (or very low spreads 24 h hours) 2. very low costs (better no costs => just spread costs) 3. cashback Do you know any broker, that is older than 2 years, which offers this? thank you Peter
  • #3
  • Nov 27, 2015 4:03am Nov 27, 2015 4:03am
Hi leebsurag!

Thank you. Hotforex wants 8 USD/RT (Majors) and 2,5 USD Cashback => 5,5 USD/RT. That's not a little...
  • #4
  • Nov 27, 2015 4:15am Nov 27, 2015 4:15am
Quoting peter1811
Hi! I'm looking for a broker with these characteristics: 1. fixed spread on gbpusd and usdcad (or very low spreads 24 h hours) 2. very low costs (better no costs => just spread costs) 3. cashback Do you know any broker, that is older than 2 years, which offers this? thank you Peter
Check Vinson Financials, they have 2 pips fixed on gbpusd
  • #5
  • Nov 27, 2015 5:12am Nov 27, 2015 5:12am
Oh, great. I will have a look.

It doesn't matter if one pair is just good at one broker. If gbpusd is best at x and usdcad at y => it is no Problem.
  • #6
  • Nov 27, 2015 6:34am Nov 27, 2015 6:34am
Quoting peter1811
Hi! I'm looking for a broker with these characteristics: 1. fixed spread on gbpusd and usdcad (or very low spreads 24 h hours) 2. very low costs (better no costs => just spread costs) 3. cashback Do you know any broker, that is older than 2 years, which offers this? thank you Peter
you should forget about fixed spread, the brokers who provide fixed spreads are market makers, what you should do is find a ecn broker, my current broker "Key to markets" have a spread of 0.2- 0.3 on Euro, even though it is floating, the advantage with ecn brokerrs is they dont trade against you, you only pay a very small comission, there is no requotes and you get fast execution. and that is cheaper in the long run. you have direct market access with Ktm, and also with Divisa.
Bulls are stupid Animals!especially when Im short!
  • #7
  • Nov 27, 2015 6:37am Nov 27, 2015 6:37am
ok. thank you.

Do you know any Brokers, that offer good spreads from 1900 - 900 o'clock (GMT); ?

Asia session (gbpusd, usdcad)
  • #8
  • Nov 27, 2015 6:40am Nov 27, 2015 6:40am
Quoting peter1811
ok. thank you. Do you know any Brokers, that offer good spreads from 1900 - 900 o'clock (GMT); ? Asia session (gbpusd, usdcad)
I use Darwinex from July.
  • #9
  • Edited 6:54am Nov 27, 2015 6:42am | Edited 6:54am
Quoting peter1811
ok. thank you. Do you know any Brokers, that offer good spreads from 1900 - 900 o'clock (GMT); ? Asia session (gbpusd, usdcad)
the brokers I recommended have a good spreads on majors around the clock, but of course it is a bit better when the trading volume is high, during the London and NY hours,

here is ktm live spreads right now, the commision you pay for 1 microlot is 0.06 Euro account, for a mini 0.60, and 6 for a full lot, there is no other fee's
Attached Image (click to enlarge)
Click to Enlarge Name: ktm spreads.jpg Size: 182 KB
Bulls are stupid Animals!especially when Im short!
  • #10
  • Nov 27, 2015 6:46am Nov 27, 2015 6:46am
@ roughtrader:

which droker do you recommend? (in this Forum?)

thank you!

@ entheos:

thank you! I have allready checked this one.
  • #11
  • Nov 27, 2015 6:57am Nov 27, 2015 6:57am
Quoting peter1811
@ roughtrader: which droker do you recommend? (in this Forum?) thank you! @ entheos: thank you! I have allready checked this one.
I have accounts with both Key to markets and Divisa capital, I recommend both,
Ktm have better regulation and is located in Uk, so ktm is my best bet,
not sure about Divisa, they used to be located in NZ, but they may be in UK too now,
anyways, both of these brokers are dma brokers, they are not market makers and will not trade against you,
I have traded with them for a long time, and no problems, Ktms staff is also very friendly.
Divisa has been around for 14 years or so
Bulls are stupid Animals!especially when Im short!
  • #12
  • Nov 27, 2015 7:13am Nov 27, 2015 7:13am
Thank you! I will check this!!!
  • #13
  • Last Post: Dec 1, 2015 5:25am Dec 1, 2015 5:25am
Quoting peter1811
Hi leebsurag! Thank you. Hotforex wants 8 USD/RT (Majors) and 2,5 USD Cashback => 5,5 USD/RT. That's not a little...
Yeah agree, but comparing with other brokers spreads which tend to widen quite often, 8$ round turn +spreads averages same amount as with brokers with less commission. But you can find some other brokers too just for comparison.
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