I need your opinion on this one:
I found a local forex broker; their spread is not to anyone's liking at 8-9 pips, and they charge another 7 pip commissions on top of all of these. Effectively, its like 8 pips now, and 7 pips when you close it for an effective 15 pips spread.
However, I have asked them for their performance on News. I specifically told them that I am a News Trader. I asked their execution speed, slippage. They said they guarantee 100% execution of orders on my price; guaranteed no slippage; and guaranteed no lockouts. If ever there is something wrong, they guarantee to do it manually and add the profits to the account on the next business day.
Question is: Is this 15 pips effective spread worth their guarantee?
Their 100% Guarantee took my attention; 2-3 pip spreads does not matter anymore if our orders do not get filled on our price.. Sometimes, we could see as much as 20 pips and in my case, 40+ pips due to slippage. That is far costlier than the 15 pip spread by this broker in my opinion.
Broker: eforex-asia.com
I found a local forex broker; their spread is not to anyone's liking at 8-9 pips, and they charge another 7 pip commissions on top of all of these. Effectively, its like 8 pips now, and 7 pips when you close it for an effective 15 pips spread.
However, I have asked them for their performance on News. I specifically told them that I am a News Trader. I asked their execution speed, slippage. They said they guarantee 100% execution of orders on my price; guaranteed no slippage; and guaranteed no lockouts. If ever there is something wrong, they guarantee to do it manually and add the profits to the account on the next business day.
Question is: Is this 15 pips effective spread worth their guarantee?
Their 100% Guarantee took my attention; 2-3 pip spreads does not matter anymore if our orders do not get filled on our price.. Sometimes, we could see as much as 20 pips and in my case, 40+ pips due to slippage. That is far costlier than the 15 pip spread by this broker in my opinion.
Broker: eforex-asia.com