As an intraweek trader for the most part I sometimes hold positions open for 2-3 days.
Without me having to scroll through a gazillion t’s & c’s on a multitude of forex broker websites, does anyone know of a reputable broker who offers zero to very low rollover fees but doesn’t make up for it on the spread?
Thanks.
Zero rollover fees don’t exist. If you see a broker offer it, be suspicious.
Choosing a good and reliable broker is the most difficult thing in this market. So, be careful when you are going to choose a broker for you.
Thanks, but do you know of any FCA regulated brokers that have particularly low rollover spreads?
I’ve been using IG but I’m not comfortable with their rollover fees.
High rollover fees were the reason behind my nightmares lol. Unfortunately I don’t think there are any brokers who don’t charge any swap fees at all. But yea, there are few who charge less. Like Fxview. Their rollover occurs at midnight server time. Some other brokers I can suggest are AvaTrade and Plus 500. Thank goodness for the amazingly cheap prices of these brokers!
I trade live with 4 different brokers and FOREX.com has the best rollover rates.
If you’re holding a position for multiple days, the spread doesn’t matter as much as the rollover rate. In my experience, the brokers with the tightest spreads have the worst rolls. They have to make money somewhere. They know eventually that “scalper” will get into a losing trade he doesn’t have the discipline to close, so they will make up for it with a wide rollover spread.
Thanks Kevin . I’ve read some horror stories about Plus 500 but I’ll definitely look into Ava Trade. Never heard of FXview.
Thanks to you too, Mr Pounder. I’m going to check out Ava & Forex now.
I too was recommended Fxview by my mentor in UK. Thumbs up for their tight spreads, low commissions and much for your fund security multiple regulations.
Trades going swimmingly so far!