Trading Cost or how to choose the best Forex broker?

TradingCost

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All traders know that it's a very big problem to find forex broker with good liquidity. Especially scalpers and high frequency traders.


You can choose broker with lowest spreads and lowest commission (if you are lucky of course:)), but it won't enough to say, that your broker has good liquidity and trading results will be the best or at least acceptable there.

Basically because of slippages, execution speed, order fill rate and other things which might have a huge influence on overall result.


In fact, the most strategies do not work because of trading cost (size of spread, commission and slippages), but not because of rules inside the strategy.


In attachment you can find TradingCost EA.

It's an expert advisor which helps traders to see all pitfalls of any forex brokers and measure quality of their liquidity. Absolutely free, simple and useful.
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  • TradingCostEA.ex4
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It would be very confusing to choose one of the many forex brokers in the country that are suitable for you. There are those who offer attractive promos, there are also those that offer features that facilitate your trading.so here we will highlight some things that you must consider before you decide which broker you choose. There are six things that you must consider:
TRANSACTION FEES
There are two types of transaction fees that are common among forex brokers. There are brokers who the only charge spreads, some also draw commissions to their clients. It is very natural if you are looking for a broker with the lowest possible spread or commission value.
EASY DEPOSIT AND WITHDRAWAL BENEFITS
A trusted forex broker may not make it difficult for his clients to make profit withdrawals, let alone deposit funds. Brokers do not have any reason to delay the withdrawal of the profits you get. This is because the funds that you deposit to the broker only functions to facilitate your trading, not for anything else.
TRADING PLATFORM
One of the main considerations when choosing a broker is the trading platform that the broker has. The trading platform must be easy to use and stable. All forex trading activities in the current era are done through platforms, so choosing a broker with a good trading platform is one of the top priorities.
SPEED OF TRADING EXECUTION
This trading execution speed is very important for you as a trader. Surely you want the price you ordered when opening a position, that's the price you get. If the trading execution is slow, then you will lose.
if you want to become a successful trader you might just find some forex tips that will help you make smarter, more profitable trades too.


All this stuff is only really important if you are a broker who is competing with other brokers for market share. No matter how good these features are, they will not make a fortune for any client.

If you're a new trader and have never had a trading account before, what you should be prioritising is -

regulation - go for a broker based in a strictly regulated jurisdiction: this probably means the costs they pass on to clients are not
the lowest in the world. Particularly look for segregation of clients' funds from operating capital, client deposit protection and negative equity protection.

profile - is the firm large and established? Are they likely to care about their reputation? Or were they just set up last week by two anonymous eastern European blokes in a metal shed on a tropical island?


Once you've started trading you will soon learn if their platform and execution speed suit what you need. But most new traders rotate between different strategies in their first few months anyway so the actual choice is not critical as you will probably make it "obsolete" yourself within a few months.
 
I think it is always better to spend some time doing research, before starting it with any broker as money is at stake in trading and we shouldn’t risk anything in hurry. My search for a good broker was also not that easy, It took me quite some time but fortunately got a reliable one for myself. I trade with turnkeyforex; it is good spreads wise and the commission rate is also not that high. Overall, it works well for me.
 
I recently found out about this broker.
Now he intends to live in Indonesia.
Tell me what reviews?
 
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