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Broker Spreads

Discussion in 'Forex Company Comparisons' started by George Holt, Jul 3, 2011.

  1. George Holt

    George Holt Private, 1st Class

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    What broker has the lowest spreads?

    Is there a section in FPA that list them all?

    Dude, I need to know! :mad:
     
  2. George Holt

    George Holt Private, 1st Class

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    Forex.com

    So far, I've discoverd that Forex.com has spreads as low as 1.1

    That seems good, but I have heard of spreads as low as .8

    Thanks,:confused:
     
  3. RahmanSL

    RahmanSL Major

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    There is such a section over at 100 Forex Brokers site listed (left hand side) under "Forex Brokers spread comparison".

    But don't just pick those Brokers with the lowest spreads without doing a thorough search on them first as most (if not all) of them are simply traps for unwary Newbie Traders.
     
  4. George Holt

    George Holt Private, 1st Class

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    What broker do you use and why?

    You sound like you've done your homework already, what broker do you use, and why? :D
     
  5. RahmanSL

    RahmanSL Major

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    I have only been on live accounts (micro, STP, & ECN) for just over 6 months (after 11+ months of demo trading) and have used/is using various brokers.

    Why do I use these brokers??
    Simple answer is I am trying them out after reading reviews from traders in various sites and also on how broker's representative service/handle their clients.

    I cannot really give or will rather not give any recommendation for any brokers because I have some issues with ALL of them.
    However, these issues are rather difficult to prove... Issues such as slippages, slow trades execution, slow connection, multiple re-quotes, etc. On ECN accounts which claim no re-quotes the actual "re-quotes" do exist hiding behind "no connection", "time out", delay in execution, and other excuses which I can't remember at this point in time.

    Sometime back, I have started a tread here at the FPA for any broker to step forward to declare that they are honest & trustworthy, but NOT A SINGLE broker dare lay claim to that.

    So, what does that tells us? No broker is that honest and trust worthy that they will not scam their clients one way or another to make the big bucks.

    So how do we pick a broker?
    My simple answer is to avoid all the obvious scammers and try those reasonably "good" brokers. As long as we can withdraw our money, I guess the broker can be considered as "ok"....just don't leave too much money with any one of them.
     
  6. George Holt

    George Holt Private, 1st Class

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    Broker choice

    Thank you for the honest response. I have either seen FXDD or FXCM on CNBC a few times, and have to believe them to be at least a little honest to be able to advertise on US tv. I have an account with FXDD, and the one thing I like the most is that they are out of New York, and not some other country where you can't get your hands around their neck if something goes wrong. I was able to withdraw money when I wanted as well. The only drawback was high spreads, but I suppose you get what you pay for.;)
     
  7. RahmanSL

    RahmanSL Major

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    I think the 3 brokers you mentioned are "ok" brokers since you are able to withdraw your money...plus reviews on them aren't too bad either.

    Yup, agree with you 100% that at least you can wring their neck if something goes wrong...and I think you are protected by their regulators.

    What can I say about you traders located in the big old U.S. of A?
    There are already so many restrictive governing rules & regulations and, come July 15 2011, there will even be restrictive trading in metals.
    The slogan "land of the free" just don't seem quite appropriate anymore; does it?

    Anywhere, for me, trading the forex is....well...fun!
    I have made loads of money, but then, mostly through greed & impatience, blow the accounts literally over night.
    I will have to cultivate a more conservative and very much less impulsive trading style.

    All the best in your trades!
     
  8. Romeo

    Romeo Sergeant

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    It depends what size of account you are looking at. There are brokers that offer very low spreads for corporate accounts.
    You can also get accounts with very low spread, but the commission is not included. Some traders prefer to operate in this way, because they use scalping EAs and the results are better on platforms which separate the spread from the commission.
     

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