Hi All I would prefer to pay a commission for each trade (rather than have a tight spread) - I have read that an ECN broker can facilitate this. Does anyone know of such a broker in the UK for a newbie?
There are a lot of brokers to choose from and a lot of members will suggest different brokers. I will not be suggesting an ECN broker, but here’s a lesson in the School of Pipsology for checking if a broker is legit to help you out.
Most brokers are ECN these days with variable spreads
@Pipzilla thanks! will check out the Pipsology page
@Glastonburyk thanks! I am looking for an ECN commission broker (i.e they take a commission for each trade instead of tight spreads) - any suggestions?
You can check out this thread: List of best regulated brokers
I am based over in Australia and have started using off shore brokers since the new regulations came in. Over here they cap the leverage to 1:30 now. I can tell you that regulations and regulated brokers aren’t all they seem, don’t fall for the ‘your money is safe with a regulated broker spiel’. No shortage of people have lost out to them. If you think that regulations are there to protect your capital, you are mistaken.
The other main reason I prefer FP Markets is their reliable customer service, who quickly solve issues and reply to queries through live chats & emails.
You can try Hotforex is has FCA license so should fit the bill
Yea bro just google it and choose what’s best for you
Turnkeyforex, commission is only $2rt.
fxview is good in the UK. spreads and commissions, both are low.
IG havean ECN account you can use and they are decent. Don’t rule out offshore as all scams either. In many cases some brokers that have been on the scene a while now and have a good reputation but perhaps have trading conditions that are more favourable over regulated UK ones.
Best to go for brokers with good customer reviews.
Commission with coinexx is quite low, a dollar per lot.
ECN brokers are a good bet undoubtedly- low commissions, tight spreads, and reduced slippage
Don’t go by what the brokers say about themselves. Check what their previous clients have to say about their services. You will know better.
Newbies should go for brokers that have low and transparent trading costs. High costs can put a full stop of their careers.