What am I missing about GlobalFX?

[trdr_2000]

You are right the spread is nothing but it's the idea that you are forced to pay it which is the problem.

It's nothing but it just seems inherently wrong, like a rigged game.

 

[misha7]

Quote from trdr_2000:

You can open an account with $2500 and get access to the interbank market, access to all their research etc.

What am I missing?

With $2.5K you can't trade the interbank market, and don't believe anyone who tells you so.

 

[marketsurfer]

Quote from misha7:

With $2.5K you can't trade the interbank market, and don't believe anyone who tells you so.

LOL ! right you are. i think a reuters dealing machine costs more than that for access to the interbank market.

:eek:

 

[trdr_2000]

I mistakenly thought I read it on their website but I realized they are no different then any other house out there.

 

[taboni]

I don't understand why everyone is so hung up on paying spreads when dealing in FX. I never hear anyone complain about spreads or in the equity markets. Why is this so?

 

[Cdntrader]

Quote from taboni:

I don't understand why everyone is so hung up on paying spreads when dealing in FX. I never hear anyone complain about spreads or in the equity markets. Why is this so?

We used to complain PLENTY about equity spreads, market makers, payment for order flow etc etc.. But now we have decimals and direct access

 

[globalfxllc]

There is a spread in EVERY market but in FX you have no commissions.

 

[Andy62279]

Quote from globalfxllc:

There is a spread in EVERY market but in FX you have no commissions.

30-50 bucks per lot... kind of expensive compared to other markets

 

[Nana Trader]

Quote from globalfxllc:

There is a spread in EVERY market but in FX you have no commissions.

Please don't fool with traders here, be honest and avoid
making rubbish statments and worthless talks, because
it is self-destruction only.

FXCM charges 4-5 pips average on pairs with mini accounts
and 3-4 pips on regular accounts, thats $30-$40.

With CME Eurofx it's:
$5 RT commision and 1 tick spread ($12.5) most times.


But that spread is compensated by more trendy % wise
in spot forex market.

 

[damir00]

Quote from TradingWise:

Why is everybody complaining about the spread??

it's not the spread itself, it's what the spread represents with these "forex" companies. the poster is correct, the game is rigged...