Can you avoid broker’s fees?

[shanellcox]

You can go for a 0 commission broker but, you will have to pay for spreads instead.

So what would be better paying 0 commissions or 0 spreads (if that’s even a possibility) ?

 

[jaclkiefrench]

@virtusa I never said that I want to avoid broker’s fees completely. We know that some brokers charge really high fees. Don’t we? I just want to deduct some costs that I’ve to pay my broker.

 

[jaclkiefrench]

yes, you can.
Look for brokers which give a wide bid-offer spread.

Doesn't that mean wider spreads? How can I save money if I have to pay more in the name of spreads?

 

[jaclkiefrench]

It is impossible to avoid broker fees because it's their business. However you may choose particular type of trading account like zero spread which is better for scalping.

Thank you for your advice but do zero spreads really exist? These are usually for one or two heavily traded major pairs i guess.

 

[Raheel Shaikh]

So what would be better paying 0 commissions or 0 spreads (if that’s even a possibility) ?

Hi shanellcox,
It depends on your style of trading and what you prefer

if you are a scalper, you will need tight spreads (0 spreads)
if you swing trade you can work with a wider spreads and less commission

I am an intraday trader, i prefer tighter spreads (i don't want to miss out a trade because of spreads) and I'm okay with paying commission.

 

[kroxobor]

I can’t make profits yet and I hate paying my broker a sizable sum. Is there any way I can cut these costs?

One way to cut losses is to make investment-style trades. Focus on trades that have high expected returns and longer horizon on investments. You will also have more time for analysis as well which should be plus

 

[jaclkiefrench]

Look for the lower commission broker, you will save a lot.

Can you suggest any to me? Most of the brokers who I know, either employ wider spreads or charge really high commission rates.

 

[maxinger]

Can you suggest any to me? Most of the brokers who I know, either employ wider spreads or charge really high commission rates.

that is the problem if you trade spot forex / CFDs.
you probably can't earn money if you were to do day trading.


alternatively, go and trade major currency futures from the established Exchanges like CME ...
the commission is around 0.5pip (round trip).

 

[sebking1986]

You might be able to claim some back through forex cash back schemes with brokers that are on board. Might only be on winning trades though not sure.

 

[adonisperry]

Can you suggest any to me? Most of the brokers who I know, either employ wider spreads or charge really high commission rates.

Could give coinexx a shot - commissions are $2rt.