Which broker is better?

Vellfx

Junior member
16 2
Very odd name for broker but I hope everything is ok besides this. Do you have experience with other brokers to compare or you prefer to avoid experimenting?
yes i do have few other brokers currently but main account is turnkeyforex, all good here
 

bhagesh.nair

Junior member
25 1
How can you prove that they have different spreads? Why spreads has to differ for different traders? I think broker has no right to adjust spreads according to trading styles simply because asymmetric transaction costs create distortions. Only market can decide if HFT will get higher spreads and its solely because of its high activity.
You must be new
 

bhagesh.nair

Junior member
25 1
And you must be old :D and know everything. Let's use proper arguments, stop showing this kind of arrogant behaviour because it is unproductive.
Sorry, if i came across as arrogant mate.
But your statement in the earlier post really seemed like that of a noob.
You really think spreads are not manipulated by the brokers and liquidity providers?
 

hatemypips

Well-known member
494 36
Sorry, if i came across as arrogant mate.
But your statement in the earlier post really seemed like that of a noob.
You really think spreads are not manipulated by the brokers and liquidity providers?
Clarify what you mean under manipulation? For liquidity provider spread is a function of supply and demand, they have to deter buyers or sellers from entering into trade somehow when sudden buying or selling imbalance appears and grows quickly. And they do that by widening spread. When they see that interest fades and conditions return to normal they decrease spreads attracting traders. This is the essence of market-making business - offer bid and offer price while making sure they won't find themselves on the wrong side of the market.
 

bhagesh.nair

Junior member
25 1
Clarify what you mean under manipulation? For liquidity provider spread is a function of supply and demand, they have to deter buyers or sellers from entering into trade somehow when sudden buying or selling imbalance appears and grows quickly. And they do that by widening spread. When they see that interest fades and conditions return to normal they decrease spreads attracting traders. This is the essence of market-making business - offer bid and offer price while making sure they won't find themselves on the wrong side of the market.
Well thanks for explaining the essence of the market making business for all the readers.
But in the real world scenario, the number of traders engaged in any trade is insanely high.
And we are specifically talking about retail traders here on this forum, and by manipulation i mean The broker can manipulate trade executions of traders at will with their liquidity providers, depending on their account size using their execution platform.
If you trade with multiple brokers yourself, i am sure you are aware of the trading rates offered by brokers to retail traders.
Some offer marked up spreads + Commissions. Some offer raw spread but charge a commission per million.
 

hatemypips

Well-known member
494 36
When choosing a broker always be mindful to choose a true ECN broker as opposed to a 'market maker'.
And how can we tell apart fake broker from a genuine one? Do you have any advice or examples on this account?
 

bhagesh.nair

Junior member
25 1
And how can we tell apart fake broker from a genuine one? Do you have any advice or examples on this account?
Every broker is a market maker as long as they have their dealing desk.
However some brokers claim they do not execute trades on the dealing desk and are 100% STP/ECN, but you can never be sure of this.
Try and do some research online, read some reviews, find out about the bodies that regulate the brokers business.
Every broker pretty much offers the same service, for me personally, the most important factor is customer support. Regardless of the execution time or how good the spreads of the broker are, i wouldnt work with the broker if their customer support is shit.
So to sum things up, work with a highly regulated broker that has good reviews online on genuine and unbiased platforms. And see to it that the customer support of the broker is kickass.
 

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