How much commission do you pay to your broker?
It depends on the broker and the account you have with them.
I’ve seen anywhere from $0 commissions and outrageous spreads, $0 commissions and decent spreads, $3-$7 commissions and fantastic spreads.
Many brokers offer a choice of account. It all depends on what makes sense to you. Would you rather have larger spreads and no commissions or pay a small commission but tighter, smaller spreads.
I prefer the latter.
It totally depends on the broker you are choosing and the account types it is providing.
Usually, regulated brokers have higher spreads while unregulated brokers provide tighter spreads. Also, some brokers provide only one kind of account with tight spreads and minimal commission while many brokers provide different types of accounts with different commission and spread.
Presently, my broker provides two types of accounts, VIP account with $1 per lot one side commission and super-tight spreads and STP account which has $0 commission and but not so tight spreads.
I pay $2/RT with fxview. I totally agree with @In2Blues, low spreads+ low commissions are much much better than high spreads and 0 commission.
Do you work for FXview… You’ve been referencing them a lot… @stacyy
Yes, I have seen many brokers regulated and unregulated with low commissions and higher spreads, I am still searching for a regulated broker with low spreads and low commission structure.
Oh may I know your broker in that case?
I will go through their website and will get back to you, so u been trading with since? and how was your trading experience?
No I’m not working for them lol
So for you everyone who mentions their broker is working for them?
Its just a good broker, and I think everyone should know, we have a good deal. That’s it. Mean no harm.
Well its been around 3 to 4 months live now. Withdrawals have been timely, spreads are good and the order execution speed is fast too. Overall, impressive I’d say.
Oh surely i will go through their website and will surely get back to you!
Thanks for the information though and I hope they accept clients from Europe as well and are regulated.
Try CedarFX they have 0 commission and decent spreads. Definitely worth a look if that is what you are after.
ok surely as i am new to trade i need to explore best broker for myself
Not sure if I should share my broker’s details here since it would look like I am promoting them. But yes, mine is an unregulated broker. And luckily I have not had any issues with them so far. So, if you are not comfortable with unregulated brokers, then my broker is not the one for you.
Who is your broker? I don’t mind offshore brokers I use a couple myself.
I am paying dollar per side with fxview which I find so good after paying $10 for every trade for a year. Besides these differences in cost, I don’t think there is honestly much difference in what different brokers offer. I find the analysis and other tools of all brokers: Oanda, XM, Fxview, more on similar lines. Other difference of course is of securities that different brokers offer. But in same domain, they are all same. What do you think?
I have trust issues with offshore brokers and when will they take my money with them, so i am looking for regulated ones only
We cant discuss about brokers here and i am looking for regulated brokers only.
I have heard about them alot, I will be going through their website by today itself. I am not able to find a balance between spreads and commisions so lets see what it has to provide.
Fair enough my friend. Each to their own.