I am looking to change brokers. I currently have 3 spread on the GBP/USD. I am interested in hearing from everyone, to see which broker is giving the best deal on the GBP/USD now.
Should Trade with Broker offering low spread or wide spread? 12 replies
Variable spread vs FIXED spread & broker comment/feedback 6 replies
ECN, fixed spread or variable spread account? why? 1 reply
Oanda spread versus MB Trading spread 27 replies
1pips spread is showing as 18 spread, anyway to overcome? 1 reply
DislikedDukascopy is at .5 -1.5, not fixed of course ... + $20 per million commission.....or $5/ 250k.
Is ODL at 2 fixed on a standard platform????Ignored
DislikedI pay .5-1 pip during peak hours on IB. $10 per round turn standard lot, so basically 2 pips.Ignored
DislikedCrown which is Swiss based will give you a 1 pip fixed spread and so will Golden Contract which is Belize based. Both offer the advantage of no tax reporting and I have an IB relationship with both as well. They rebate me half a pip and I rebate you half of that so 1/4 pip comes back to you each month. In the end you pay .75 pips per trade.
Also a friend of mine and I work together with Cantor Fitzgerald and can offer the best Currenex I have ever seen which typically has a 1 pip spread on GBP/USD and we will charge you much lower commissions than those other places that were mentioned. More importantly the minimum is only $10,000 and the minimum trade is $50,000 or .5 lots.
PM me if you have interest.Ignored
DislikedCrown have the worst execution that I know. A frend of mine had an account with them. They may have the worst possible spread for the cable from all brokersIgnored
DislikedI chatted online with someone at Crown about their structure - 1 pip, no commission. Sounds good. I started asking about their policy on scalping - which they make a big deal of on the site - and the person got slightly hostile.
How do the brokers (and community) tend to define scalping? I've heard of people who look to "scalp" 20 pips in a half hour and people who look to be in and out of trades in one minute to make 2 pips....
What exactly is scalping?
Why would any broker oppose it? it almost sounds like someone who wants to churn their own account... if brokers make $ on the trading activity, why wouldn't they want someone who wants to be very active?
Also on the news trading comment - if they don't fill well at the news, it was suggested to put in a limit order before. Would you (for example) put in both a long and short OCO STOP @ 10 pips from the market at xx:xx:58 and, as the market moves through either level, it trips and trades? Is that what is suggested?
Sorry for long post - just my second post ... hope to learn more & add to the discussions
ThanksIgnored
DislikedI've heard of people who look to "scalp" 20 pips in a half hour and people who look to be in and out of trades in one minute to make 2 pips....Ignored
DislikedI chatted online with someone at Crown about their structure - 1 pip, no commission. Sounds good. I started asking about their policy on scalping - which they make a big deal of on the site - and the person got slightly hostile.
How do the brokers (and community) tend to define scalping? I've heard of people who look to "scalp" 20 pips in a half hour and people who look to be in and out of trades in one minute to make 2 pips....
What exactly is scalping?
Why would any broker oppose it? it almost sounds like someone who wants to churn their own account... if brokers make $ on the trading activity, why wouldn't they want someone who wants to be very active?
Also on the news trading comment - if they don't fill well at the news, it was suggested to put in a limit order before. Would you (for example) put in both a long and short OCO STOP @ 10 pips from the market at xx:xx:58 and, as the market moves through either level, it trips and trades? Is that what is suggested?
Sorry for long post - just my second post ... hope to learn more & add to the discussions
ThanksIgnored