I have opened a demo acc using fxpro ctrader and as I am told the spreads are from $0 but fluctuate from mostly 0.2 but can be slightly higher with exotic currency pairs.
On top of this they charge a commission and I give some examples
Excuse me if this does not make much sense, as you can tell I am very new.
On a 100k volume commissions @ £13 - £11
On a 50k volume @ £6.50 to £5
On a 20k volume @ £1.70 - £ 2.20
On a 10k volume @ just over £1
So on top is the small spread as well.
The thing is I really like the system, its clean and easy to use but I can’t seem to find out if I am being ripped off or not. I have spoken to them but they would say that it’s competitive.
I have tried very hard to find the answers but am struggling a little, any help would be appreciated.
i’m on Dukascopy, which has a similar spread+commission arrangement. i only have 60 seconds to type, so here’s what mine is like…
EUR/USD spread is around 0.5pip
commission is another 0.6pip total (buy plus sell, so round-trip trade)
means net cost to me is around 1.1pip
using a 100k position (standard lot) as an example, the spread is $5 and the commission is $6
i think these numbers are right… go to Dukascopy’s page and you can see the details. i seem to recall the commission for a mid-range account being around $36 per buy or sell order per $1M position, which means $3.60 on a 100k position, which means 2x3.6 for the round-trip (buy and sell)