the impact of fees and spreads

[Ethan.ishere]

I have even gone so far as to try an unregulated broker for that very purpose, with reasonably OK spreads, fees not that high, honestly, and no commissions at all. I had my doubts, but it didn't turn out to be all that bad in the end, though execution from their side could have been better.

 

[Lee-me]

Trading strategies that rely on small, consistent profits can be heavily impacted by fees and spreads, as these costs might negate the potential gains.

 

[Stoic]

Spreads and fees significant only for micro trading. The reliability of the broker is more important.

 

[ArnavDeshmukh]

Significant impact I think. If not managed effectively, may even turn profitable trades into losing ones.

 

[CallahanSinclair]

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?

I think they impact overall profitability in trading, especially for thoes who employ

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?

I think they impact overall profitability in trading, especially for those who employ day trading or scalping strategy.

 

[Naktilar]

And it's worth to mention that the majority of them never gets rid of this feeling like trading is easy, you know. They try over and over again, they rush, they believe that they will be able to outplay the market, but actually everything alwyays ends not in their favor.

That is the reason why I agree with you in terms of wrong mindset and psychological setups. It's of utter importance to be aware of how to control emotions, how to get rid of classical "novice" fears, like fear of opening and closing the order and FOMO, of course.

 

[Gazel]

Yeah, partially I would say.
Spreads and fees play an important role and if the one doesn't know when to trade or how to manage lot sizes, then of course these things can easily devastate the deposit. There are such rookies who open and close tons of orders daily just because they want to test the mechanism, and they do it when spreads are the widest, so the margin is eaten quickly by spreads xD
I guess it's easy to calculate everything if you have at least month of experience.