Fxpro Vs Pepperstone?

Trying both these brokers on demo atm. Have gone through pipsology course on babypips, was worth it. Now planning to go live with $1000. Let me know if it is a good amount to start with. And which broker to go for live -

  • Fxpro - Min deposit: $100, Spreads: 0.3 pips onwards, Commission: $7/lot rt
  • Pepperstone: Min deposit: $200, Spreads: 0.1 pips onwards, Commission: $7/lot rt

Is there anything else I need to check before going live with one of them?

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Which country are you from? :slight_smile:

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I have traded Pepperstone standard account which is commission free. IMO, it’s competitive with most other broker spreads. I dislike ANY commission charge because I get emotionally upset when all my opening trades start off as losing ones.

As for $1,000 account, it’s probably acceptable providing you strictly control your risk exposure. I would trade 1% risk per trade, maximum 5% open trades. The upside is the higher the account the greater reward, but the downside is the greater the loss.

Don’t get greedy, nor overtrade. or gamble.

Best of luck.

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What’s your experience with them been like? How do you like their platform?

Currently residing in Germany.

Thanks for the advice Steve, I did check the standard account and found spreads on the higher side compared to their razor account. Commission is definitely annoying but so is the markup on spreads. What do you think?

Try TD365. Fixed spreads.

Oh nice! How’s the weather there now? Went there once around this time of year and it was sooo gloomy.

7 USD round-turn is quite expensive especially for scalping where you place lots of trades and transaction costs eats good part of the profit. I would suggest to instead take a look at Tickmill or Hotforex, they charge 4 USD per lot and spreads during LDN session are close to zero on major pairs.