In need of a no-commissions broker with a balanced out trading environment

Never thought would have such a bad experience with the spreads. All that glittering wasn’t gold. I am now extra careful and want to go with someone who has preferably no commissions and possibly can help with an adequate margin level, stop loss. Mini lots are my preference with lower spreads. What are other things I need to keep in mind so I don’t end up like before.

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How about you start with a demo account before actually trading live? Test the broker well before you put in your real money with them.

To work your way around trading aspects, try to constantly tweak your trading strategy. I do use price action strategy but at the same time keep experimenting with different stop loss and profit levels. Not saying that a broker or the trading platform used makes no difference but the strategy that you use will have the biggest impact on your trades.

I’m sure you will find mini lots with low spreads at various platforms. As far as stop loss is concerned, you should work with them and practice how and where to place them. This will help you in the long run. I mostly go with regulated brokers to ensure a better trading environment and it also provides some sort of safety. The spreads with XM, Fxtm and Fxview are pretty tight. Even the commissions are very low.

Some decent recommendations above. A curveball but a broker I have been using without issue and is offshore is CedarFX. Go in lightly as a result but they have very tight spreads and offer a 0% commission account.

Hey thanks for the suggestion. Do they have a high inactivity fee? Heard so from some trader friends

Seems good to me - mean if the spreads are low and 0 commissions - what’s the curveball here, please do tell!

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Well it’s offshore and not regulated but funds are held in cold storage. As I say go in small to test them but I get my funds within a few hours when I withdraw so :man_shrugging: Know some will kick off about regulation but with smaller accounts particularly I am not too fussed and prefer the better trading condiitons.

ECN account has the lowest spread but there will be commission charge.
MBG Markets example :
spread 0-1
Commission 7 usd
Rebate 3 usd
so you trading cost is 4

In my experience, with 0 commissions, spreads spike up to cover the cost to the broker. My rather pick has been low spreads and low commissions like with fxview or tickmill.

I am a swing trader and I do make use of price action for analysis, my focus stays however on support and resistance levels which makes it easier to predict any breakouts.

Just because you would find a broker with lower commissions, doesn’t mean they are good. Do your research first and then go for a reputed one. People keep getting scammed these days.

I faced a similar problem in the beginning and there are a lot of brokers out there that promise good spreads but ultimately end up being the worst. Although I lost all hopes, but later again tried several other brokers like XM, Instaforex, Fxview and fortunately found some brokers that suited my style of trading. The spreads with fxview are quite promising. So far it is going good so I have decided to stick to that.

I suggest you stick to your trading plan and don’t rush your trades. Staying focused really helps if you ask me.

Honestly I would have some reservations going with an unregulated broker, thanks for the suggestion though, cheers

Are the spreads fixed? Even the commissions are fine by me, 4 is actually less than what I see around. Hope it’s not another where it’s all good until you actually start trading and all sorts of costs come up

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I don’t think it really makes much difference. Especially with the amounts most use. Maybe worth trying with a demo and seeing for yourself. Used unregulated and regulated brokers for a few years now and not had an issue with either but I know which I get better trading conditions with.

I’ve tried using different broker platforms in the past with the idea of getting everything at one place. But then I realised that it is more important to get the strategy right. I keep testing my strategies on demo accounts to get a good idea first. I’d suggest you also do that.