Looking for Brokers that Offer 1 Cent Per Point

[Thomas-M]

Hi

Does anyone know of a broker that offers a minimum of 1 cent per point on indices?

I have one broker, but I would like to have a few as backup. Usually when a broker offers 0.01 it actually makes or loses 10 cent per point.

I’m not very concerned about the leverage, in fact I feel safer getting a low amount, but high is fine too. I’m based in Europe (Ireland).

Thanks

 

[minmike]

Are you trying to trade with $10?

 

[Turveyd]

FX any spot broker, but Index's can't think of 1, what's yours??? incase I want to switch to long term ever and build many 10cent positions.

 

[paulmtrades]

Im fairly sure CMC markets offer 0.01 on mt4 for CFDs

 

[Thomas-M]

FX any spot broker, but Index's can't think of 1, what's yours??? incase I want to switch to long term ever and build many 10cent positions.

I'm using Trading212, I was surprised when I saw they went so low. The main reason I want to find another (or perhaps many others) is because I've had some negative experiences with every broker I've been with so far (with Trading212 being the least negative). Some brokers keep your trades locked at 11 at night (the time the Dow opens back up after the hour break after the official close). They keep them locked when they are in profit (then they tell you later that it was a price misalignment). None of this has happened with Trading212 yet, in fact after being with them for months now, it has only been down and offline once (for about 30 minutes).

My only reason for doubt in them (and any broker for that matter) is they always decline to add an upper trade limit feature. It's very easy, especially if you're making more than 30 trades per day to press the wrong button. Then instead of putting in 0.01, you have a trade of 1.0. One day I put in a trade of 5.4 instead of something like 0.02. What I do remember was none of the figures entered in were anywhere near the figures I wanted to enter on the keyboard, which makes me very skeptical. Not to mention, 5.4 was almost the exact size of my account. I was very lucky that it immediately went into profit.

Providing the upper trade limit feature cannot be a difficult thing for them to do, the question is why not, which is why I really feel like they are not much different from the broker types mentioned above. So my plan is to have a few brokers, and alongside these, money in the bank to fund accounts under pressure, rather than all my money in one broker.

Brokers also have a position limit of 250, so if you want to add you must close one and add twice the size as before (I got frustrated and added loads many times the size) and lost about 70% of my account a month and a half ago when the Dow rose about 2000 points in almost one day. Having many brokers takes the pressure off each individual one, and less panic I would imagine. Especially if one broker has an open time issue you can just add opposite positions on a different broker, and that will be the same as closing them on the original broker.

I'm just sick of being ruined by these kinds of situations

 

[Thomas-M]

Im fairly sure CMC markets offer 0.01 on mt4 for CFDs

Thanks Paul, I'll take a look. I have a feeling I asked them a few months ago about the per point gain/loss and it may be more than 1 cent. I think what it may come down to is just installing demo accounts of everything I can find and hope for the best.

Sometimes 0.01 is actually 10 cent per point which is quite annoying.

 

[Turveyd]

I'm using Trading212, I was surprised when I saw they went so low. The main reason I want to find another (or perhaps many others) is because I've had some negative experiences with every broker I've been with so far (with Trading212 being the least negative). Some brokers keep your trades locked at 11 at night (the time the Dow opens back up after the hour break after the official close). They keep them locked when they are in profit (then they tell you later that it was a price misalignment). None of this has happened with Trading212 yet, in fact after being with them for months now, it has only been down and offline once (for about 30 minutes).

My only reason for doubt in them (and any broker for that matter) is they always decline to add an upper trade limit feature. It's very easy, especially if you're making more than 30 trades per day to press the wrong button. Then instead of putting in 0.01, you have a trade of 1.0. One day I put in a trade of 5.4 instead of something like 0.02. What I do remember was none of the figures entered in were anywhere near the figures I wanted to enter on the keyboard, which makes me very skeptical. Not to mention, 5.4 was almost the exact size of my account. I was very lucky that it immediately went into profit.

Providing the upper trade limit feature cannot be a difficult thing for them to do, the question is why not, which is why I really feel like they are not much different from the broker types mentioned above. So my plan is to have a few brokers, and alongside these, money in the bank to fund accounts under pressure, rather than all my money in one broker.

Brokers also have a position limit of 250, so if you want to add you must close one and add twice the size as before (I got frustrated and added loads many times the size) and lost about 70% of my account a month and a half ago when the Dow rose about 2000 points in almost one day. Having many brokers takes the pressure off each individual one, and less panic I would imagine. Especially if one broker has an open time issue you can just add opposite positions on a different broker, and that will be the same as closing them on the original broker.

I'm just sick of being ruined by these kinds of situations

Limit issue, good way to get you to blow the account, likely intentional, there a Phone App aren't they really, never tried 1 of those, seem to never pay out the profits to me.