Too low spreads can be a sign of some not very honest business. Brokers earn from spreads and with too low spreads - how can they remain profitable? Perhaps, by scamming their customers. So, traders should stay away from zero-spread (or near zero) brokers. Of course, if they don't charge some obvious additional commissions.
Too low spreads can be a sign of some not very honest business. Brokers earn from spreads and with too low spreads - how can they remain profitable? Perhaps, by scamming their customers. So, traders should stay away from zero-spread (or near zero) brokers. Of course, if they don't charge some obvious additional commissions.
Hello enivid,
FXOpen do not get any profit from the spreads in ECN enviroment, this is the rule. We do gain our profit from cimmission only (about 0.007% for USD pairs). Usually FXOpen's ECN spreads+commission is lower then fixed ones. Low spreads in ECN network means high liquidity which mean that your order will be filled without any slippage and with the tighest spreads possible.
Hello enivid,
FXOpen do not get any profit from the spreads in ECN enviroment, this is the rule. We do gain our profit from cimmission only (about 0.007% for USD pairs). Usually FXOpen's ECN spreads+commission is lower then fixed ones. Low spreads in ECN network means high liquidity which mean that your order will be filled without any slippage and with the tighest spreads possible.
Even though your spreads are low, commission is still high.
If somebody opens account with ODLPrime brokerage, Alpari prime brokerage, LondonCapitalGroup, PFGBest, FXDD etc (provided they can afford it as well, because most of them requires $20,000 minimum account size), $35/mln round turn can be easily negotiated instead of $70/mln you are offering.
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Even though your spreads are low, commission is still high.
If somebody opens account with ODLPrime brokerage, Alpari prime brokerage, LondonCapitalGroup, PFGBest, FXDD etc (provided they can afford it as well, because most of them requires $20,000 minimum account size), $35/mln round turn can be easily negotiated instead of $70/mln you are offering.
Hello BossOfHyips,
Commission can be discussed for high volume accounts.
And as mentioned before, we will propose just 1K to start, MT4 with own bridge to Dukascopy, up to 1:500 leverage, 0.1 lot minimum as well as Level2 quotes. This service becoming more popular among our Clients.
Regards.
$35/mln round turn can be easily negotiated instead of $70/mln you are offering.
If you have the volume and account size to give you bargaining power, you can negotiate with FXOpen too you know If you look around, FXOpen's basic commission is actually quite competitive.
Hello enivid,
FXOpen do not get any profit from the spreads in ECN enviroment, this is the rule. We do gain our profit from cimmission only (about 0.007% for USD pairs). Usually FXOpen's ECN spreads+commission is lower then fixed ones. Low spreads in ECN network means high liquidity which mean that your order will be filled without any slippage and with the tighest spreads possible.
Yes, I understand that the spread should be substituted by commission in ECN platforms, but that doesn't change the fact that if the broker charges very low spread (or commission) it's probably scamming its clients.
Fact.. no one will charge 0 spread unless they are trying to dump liquidity.
Fact.. The interbank generally during high volatility runs a spread between 0.2 and 5 pips.
Fact.. you have less power against spreads if you use fx notes instead of margin FX. Note spreads will average 3-100 pips on the desk.
Fact.. brokers with high spreads and charging comission are either scammers, or not equipped to provide an ECN service.
FACT the more often you trade the more power you have over commission rates in negotiation. If you trade once a month and make 2000 pips per trade, you have absolutely no pull on commissions, because your actual volume is limited. Brokers are not free services, and shouldn't be expected to be.
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Currently accepting managed accounts. 1k micro 15k standard 50k ECN only at fxopen http://takimanaged.blogspot.com for details.
Which broker has the best spreads?
If you look around, FXOpen's basic commission is actually quite competitive.
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