Cheapest Forex broker commision ?

Persson121 · Jun 25, 2012

Hi

Im new to Forex trading. I wast first on Swingtrading but it's to expensive for me beacuse i have only 570 USD to begin with.

I fount it cheaper to trade with forex beacuse many currencies is lower that 1$.

But now i asking for some advice how to start.
First of all I need a free platform like google finance. That's why im not a daytrader or something like that.
Tips about some media i shall read would bee nice and a good cheap Forex broker with low commision.

/ Thanks.

NVP · Aug 8, 2012

Persson121 said:
Hi

Im new to Forex trading. I wast first on Swingtrading but it's to expensive for me beacuse i have only 570 USD to begin with.

I fount it cheaper to trade with forex beacuse many currencies is lower that 1$.

But now i asking for some advice how to start.
First of all I need a free platform like google finance. That's why im not a daytrader or something like that.
Tips about some media i shall read would bee nice and a good cheap Forex broker with low commision.

/ Thanks.

Big Hint.....Cheap aint best.......

traderj · Aug 13, 2012

free?

demo TC2000.com
info? twitter

ProScalper · Sep 9, 2012

Wanna pay much lower, as low as $3 per round lot - use rebate services.

Money99 · Sep 10, 2012

I thought Forex brokers all take zero commissions

expertfxtrader · Sep 11, 2012

ProScalper said:
Wanna pay much lower, as low as $3 per round lot - use rebate services.

commission as low as $3 with a spread at 3pips !!!!!

in my opinion we should not pay more than 1 pip all included

ProScalper · Sep 12, 2012

Money99 said:
I thought Forex brokers all take zero commissions

expertfxtrader said:
commission as low as $3 with a spread at 3pips !!!!!

in my opinion we should not pay more than 1 pip all included

I meant $3 per round lot, including spread and commission:smart:
I get 1.6 pips rebate from Premium Trading for my account with LiteForex NDD account with 1.9 pips typical spread on EURUSD (without commission).

expertfxtrader · Sep 13, 2012

ProScalper said:
I meant $3 per round lot, including spread and commission:smart:
I get 1.6 pips rebate from Premium Trading for my account with LiteForex NDD account with 1.9 pips typical spread on EURUSD (without commission).

I would stay from far away of this kind of broker that give you so much rebate. Did you ask yourself why ?

At the end there only target is you to loose money. I will never open a live account with this kind of broker !!!

I will go with 100% stp which is never easy to know the truth. But I will avoid for sure welcome bonuses, cash bonuses, but will go with rebates (that make sense) per lot.

Last question, if you have 1.9 avg spread and they rebate you 1.6 diff 0.3 do you know what is the market price of EURUSD nacked price ?

Even big banks cannot give less than 0.8, only with agregator you can have less !!! but with 0.3 you cannot make any money as broker.

So to remain with brokers that are lying to people is not good. Because at the end there scope is that you will lose money.

I advise you to check on google for stp broker , stp trading forex or similar and try to find a broker that gives you good spread and conditions

Bye and good luck

kickbackfx · Dec 20, 2012

You can always use a Forex rebate service thus reducing your spread. There are a lot of brokers to choose from and if you take a look they are regulated and reliable.

dcorabi · Dec 22, 2012

go with oanda they dont have a desk same as ecn as it is automated and no dealing desk to deal with .at least you will loss your money for good people

ptsnu · Jan 28, 2013

Yes, Oanda has a good commision. Also check Dukascopy. Bear in mind that with most ECNs the bigger the volume traded the lower the commission until some point.

Shakone · Mar 2, 2013

I traded before with MBTrading. After some time I didn't like them for some reasons not worth going into here, but in terms of commission, they pay you for limit orders. So if your strategy utilises limit orders then you're not going to find cheaper than getting paid.

Steakeater · Apr 13, 2013

expertfxtrader said:
commission as low as $3 with a spread at 3pips !!!!!

in my opinion we should not pay more than 1 pip all included

What broker do you use that offers this?

comparebroker · Apr 15, 2013

I don't thing finding a cheap broker would be suffice. What about the trading platform? What about the customer service. If one of the latter is bad, what will you do with a broker with cheap commissions?

Please look for all the three and then decide which is the best.

TheLastBear · Apr 15, 2013

comparebroker said:
I don't thing finding a cheap broker would be suffice. What about the trading platform? What about the customer service. If one of the latter is bad, what will you do with a broker with cheap commissions?

Please look for all the three and then decide which is the best.

I agree that it is not smart to only focus on one aspect of a broker.

comparebroker · Apr 15, 2013

Thanks Bear for supporting me. I think the most important aspect is the trading platform.

TheLastBear · Apr 16, 2013

comparebroker said:
Thanks Bear for supporting me. I think the most important aspect is the trading platform.

Well, most offer MT4 so there is not a lot more you can expect. Some offer cTrader which I like much better. The MyFX plugin for MT4 is nice. Some have an ECN plugin for MT4. There are a few other options.

I look more at spreads, assets offered and how the broker treats me. Usually I try out a broker with a tiny amount and if they do not welcome me in the same manner as if I would make a big deposit I just close my account. I don't want re-quotes and slippage (sure, sometimes there may be an event which cause this), but I am happy that I am usually not bothered with those things.

bigboyfx · Apr 22, 2013

Brokers have their way of making money. Some will promise you a very low commission, but will hide some charges in their client agreement. A friend of mine told me about this when I was seriously looking for a broker. While searching I usually read their client agreement to spot hidden charges. I was surprised that what my friend said was true. Any way I now use Profiforex where I pay 0.3pips for a whole deal and the spreads are damn low here.

comparebroker · Apr 23, 2013

Well. I agree to your point. There are some hidden charges which much be understood before otherwise, it's going to be bad.

TheLastBear · Apr 23, 2013

comparebroker said:
Well. I agree to your point. There are some hidden charges which much be understood before otherwise, it's going to be bad.

That is why it is so important to read the client agreement. I know they are usually written to discourage many traders to take the time and read it, which may be a huge mistake. New traders are so eager to set up their trading account that they just click accept so their account can be opened.

Cheapest Forex broker commision ?

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