Broker recommendations!!

botsmarok · Mar 17, 2021

yana hansen said:
An ECN broker doesn’t have a dealing desk involved.

Theoretically yes, but you know many ECN brokers - and I’m talking about the ones offering tight spreads - have painfully slow order execution. Are they really no dealing desk brokers then?

Vettel5 · Mar 17, 2021

I recommend trading with FP Markets since it is regulated by ASIC and also the oldest broker since 2005!

They offer some of the best trading conditions with tight spreads and faster execution speed than any other ecn brokers.

botsmarok · Mar 18, 2021

Vettel5 said:
I recommend trading with FP Markets since it is regulated by ASIC and also the oldest broker since 2005!

They offer some of the best trading conditions with tight spreads and faster execution speed than any other ecn brokers.

So I’m assuming you are satisfied with their withdrawal policies and all as well. Are they flexible in terms of scalping, hedging?

Rigate · Mar 19, 2021

You are doing the right thing to study all the nuances and conditions that a broker can offer you.

Johannab · Mar 20, 2021

Let’s compare. If you trade 1 lot EURUSD with 1.0 spread, you’ll pay $10 fee. If you trade with the same account with 0 spread, you’ll end up paying $3.5 fee. See for yourself. Trading with zero spread is in every way cheaper.

wmwmw · Mar 20, 2021

Let't compare.
PF markets charges 0 spread and 6 commissions.
Brokers like turnkey charges 0.2 spread and 2 commission.
So PF markers cost you 6 and turnkey cost you 4.
0 spread is actually more expensive.

justinbastian · Mar 20, 2021

Johannab said:
Let’s compare. If you trade 1 lot EURUSD with 1.0 spread, you’ll pay $10 fee. If you trade with the same account with 0 spread, you’ll end up paying $3.5 fee. See for yourself. Trading with zero spread is in every way cheaper.

I believe this spread is ideal only for scalpers where small trading is involved.

Tommcurrans · Mar 21, 2021

Axesinger said:
Conditions that are beneficial only for the client, and are of no value to the broker, should always put you on your guard.

Yeah that’s the red flag. Also, I got to deal with brokers who offer no negative balance protection.

Nealeliff · Mar 21, 2021

justinbastian said:
I believe this spread is ideal only for scalpers where small trading is involved.

It’s recommended for more experienced traders who’re experienced in all sorts of accounts and have a better understanding of the financial markets.

Johannab · Mar 22, 2021

Let’s not negate that there are ECN brokers like FXview who do offer 0 spreads. Selecting the right broker is more vital than debating whether 0 spreads is safe or not. Onada is another good example.