[suggestion] Broker without spreads but with low fees? | Forex Factory

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[suggestion] Broker without spreads but with low fees?

  • #1
  • First Post: Apr 26, 2016 9:08am Apr 26, 2016 9:08am
Hello.
The 20-30 points (fee) are killing me. As I can see the are brokers that have 0 spreads but they charge fees like $5 when I open the order and $5 when I close it.
The lowest I have found is XTB with $4/$4. Is there are other trusted broker but with lower fees?


Thank you everyone!
  • #2
  • Apr 26, 2016 9:37am Apr 26, 2016 9:37am
Quoting tejli007
Hello. The 20-30 points (fee) are killing me. As I can see the are brokers that have 0 spreads but they charge fees like $5 when I open the order and $5 when I close it. The lowest I have found is XTB with $4/$4. Is there are other trusted broker but with lower fees? Thank you everyone!
If you want help, you need to be much more specific about your problem.
MY SITTING, NEVER MY THINKING!
  • #3
  • Apr 26, 2016 9:40am Apr 26, 2016 9:40am
Quoting tejli007
Hello. The 20-30 points (fee) are killing me. As I can see the are brokers that have 0 spreads but they charge fees like $5 when I open the order and $5 when I close it. The lowest I have found is XTB with $4/$4. Is there are other trusted broker but with lower fees? Thank you everyone!
20-30 points 'fee' - I assume you mean spread. In that case, which pair, and what time of the day?

5usd to open and 5usd to close? - Sounds like a crap broker in my ears.
MY SITTING, NEVER MY THINKING!
  • #4
  • Apr 26, 2016 9:51am Apr 26, 2016 9:51am
Quoting merrygold
{quote} 20-30 points 'fee' - I assume you mean spread. In that case, which pair, and what time of the day? 5usd to open and 5usd to close? - Sounds like a crap broker in my ears.
Why crap? If I pay 20-30 spreads with XM or FXPRO and I open a trade with $1 per pip, automatically am -$20. If its $4/$4 am -$8.
  • #5
  • Apr 26, 2016 10:44am Apr 26, 2016 10:44am
Quoting tejli007
{quote} Why crap? If I pay 20-30 spreads with XM or FXPRO and I open a trade with $1 per pip, automatically am -$20. If its $4/$4 am -$8.
The way i understood your first post; that you wanted a account where you pay fixed 5usd to open and 5usd to close.

IF xm & fxpro got spreads near 20-30 pips (Witch i doubt) Go look for another broker, but keep in mind, what time of the day, you see theese spreads & what pair. Spread widens during news and when a pair is off session. Most important before anyone can comment more on this thread, is What pair are you looking at? - If you get af 20-30 pip spread on usd/try its quite good. if its eu or some other major its crap!
MY SITTING, NEVER MY THINKING!
  • #6
  • Apr 26, 2016 10:45am Apr 26, 2016 10:45am
..... And 0 spread is not an option.
MY SITTING, NEVER MY THINKING!
  • #7
  • Apr 26, 2016 11:04am Apr 26, 2016 11:04am
There is no jack of all trades and moreover no free lunch. Either you accept costs in form of higher spreads and no commission or raw (lower) spreads including commission. You simply have to check which one suits your style of trading better.

Keep also in mind, that spread alone is no valid indicator for the execution of your trades, as slippage can exceed spread+commission by far!
  • #8
  • Apr 26, 2016 1:21pm Apr 26, 2016 1:21pm
Look always for slippage
  • #9
  • Apr 27, 2016 12:58am Apr 27, 2016 12:58am
An interesting video about how the "puppet master" crooked brokers manipulate this rigged game called Forex:


Inserted Video
  • #10
  • Last Post: Apr 27, 2016 2:33am Apr 27, 2016 2:33am
Some better brokers for small (low net) retail traders do advertise spreads as 'starting from 0.0' pips. However, traders will rarely catch such spread on market orders.
Considering my own situation, I pay a spread of on average of 0.3 pips ('starting from 0.0') on E/U, and a commission of 2 units of account currency per standard lot (4 units per lot round-turn).
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