the impact of fees and spreads

[chen2020]

In your experience, how significant is the impact of fees and spreads on your overall Forex trading profitability? Have you switched brokers for better terms, and what difference did it make?

 

[FxMaster]

In your experience, how significant is the impact of fees and spreads on your overall Forex trading profitability? Have you switched brokers for better terms, and what difference did it make?

As far as I understand, fees and spreads can significantly impact on profit. You need to understand the impact of fees and spreads. Work on strategies such as broker with competitive fees and tight spreads.
limit orders rather than market orders.

 

[pashaev]

This only matters for pipsing. For medium-term trading, spreads are not particularly important.

 

[NatureGirl]

In your experience, how significant is the impact of fees and spreads on your overall Forex trading profitability? Have you switched brokers for better terms, and what difference did it make?

high fees and spreads can really cut into Ur profits especially if U trade a lot

 

[VasilTodorov]

They can effect your trades and profit
fixed spreads i prefer them
because they can help you to know how much you need to pay and they will not change
and fees are you asking about deposit fee? or what?

 

[Garrod]

I reckon this topic was discussed a lot of times at this point already. At least I remember reading about it before.

 

[Granigamand]

I assume that it's rationally to switch the broker in case it levies too big fees or spreads are too wide. The latter depends on the current market condition, pool of liquidity providers and so on.
As for the fees then I am for cost-effective brokers, which don't levy inactivity fees, swaps, and actually have no commissions, or at least offer accounts where you pay only the spread.
So if you realize that the biggest part of your deposit is eaten by commissions or other stuff, then think of changing the broker.

 

[Akimuro]

I think it depends, as always.
Some traders, including me, don’t pay attention to spreads whatsoever.
They don’t choose brokers according to this aspect and that’s because of their trading approach that is not sensitive to the tightness of spreads in the first place.

But if you are a scalper that trades within the spread range, then of course you should take that into consideration. Actually this would be the first thing that you notice.

 

[Komondar]

In my experience, the impact of fees and spreads on my overall Forex trading profitability is quite significant. As someone who trades frequently, high fees and wide spreads can substantially reduce my profits. I have considered switching brokers to find better terms, such as lower fees and tighter spreads. This switch has made a noticeable difference, improving my profitability by reducing transaction costs.

 

[Bearad]

I assume nobody wants to trade with spreads higher than 2-3 pips, especially when it comes to intraday trading, because you likely peopn a lot of positions and close too. Thus the biggest share of your profits will go to the broker in that case, the same applies to round-turn commissions, actually.
I had such a tendency to wander around the market searching for a good broker and eventually I found it. So now I don't care about spreads at all, as mine one offers quite tight spreads.