I’ve heard rumors of traders who opened a bank (and say it’s really easy) to take advantage of low, low interbank trading rates that retail traders cannot get. But Googling around I’m not really finding any information. Just curious if anyone has looked into this and if it is actually reality or fantasy. Thanks.
I’m not sure that is really worth doing (but I am no expert). My IC Markets cTrader account has spreads as low as -0.3 on the EURUSD (yes that’s a negative, not a typo). Look around, you will find some good brokers out there.
What kind of capital are we talking about? Thanks.
Seriously? That sounds too good to be true. Wow.
with a spread like that its hard to lose money
It is true, and they are fully regulated by ASIC and not a scam by any means. That’s the beauty of the cTrader platform. Its level II pricing, just like interbank. They take a commission of 70cents/lot roundtrip (but that goes down to 55cents/lots if you sign up with an IB). They are a very nice broker, but by no means the only ones out there. Look for brokers with cTrader platform. Its amazing! True ECN, no broker intervention, no broker plugins, and you feel like you are using a program from this decade, not from the 90’s like that sh*tty mt4 (oh how I hate it). However, don’t ever think that its hard to lose money. Its still just as easy
PS> They also give positive swap rates, unlike most brokers who only charge negative rates. But again, this is the beauty of the cTrader true (real, actual, honest to god, no lie) ECN level II platform.
On my broker it requires USD 1000 to open a cTrader account. A bit high, but by no means prime brokerage prices.
Thanks Zaghloul. I’ll definitely check out cTrader.