Ditto, I use separate brokers for the same very reason, like for trading smaller charts I make use of fxview’s ecn account because of the lower spreads, but when it comes to long term investments where I take into account fundamental aspects also, I prefer interactive brokers.
Going offshore is the best thing that happened to me You could try that.
Always test a broker on its demo account before you trade live with them, no matter how much experience you gain. You can never tell anything about a broker from their claims. You need to experience them firsthand.
I tried that once. Withdrawals were an issue and they weren’t as flexible with things as I had hoped they would be.
Scalping is not for everyone, the stress can be too much for some to handle.
Uhhhh, no. If it was an honorary thing, no broker would do it. It’s costly and time consuming. They do it because they have to, lucky for us. If you’re going to go off shore, at least hop into the cftc offshore thread to hear from more members doing just that. It’s one of the longest threads around and super active. If you think “being regulated” is just icing, read up in the Scam Stories section about traders getting scammed left and right. There’s a reason regulation has come about.
On the surface it seems like that is the only way to go but dig deeper and it is just paying lip service. I would prefer better trading conditions over possibly getting money back. Having a dispute with the FCA over another non-trading related venture and they are a farce to be honest. Self apppointed but goverment backed.
I for one could never get my head around using 1 minute charts, and this I am saying after trading for almost 2 years. Keep my positions open for 4 - 5 hours average now and using fxview and ic markets for low spreads. It truly is a trial method which tells which strategy and which broker type works best for which trader. Low spreads and intraday trading is what sits well with me.
To be fair many traders using regulated broker also say the broker did something scammy: could be withdrawals, higher spreads on execution….list is endless
Irony is that I find keeping my positions open for long more stressful. Closing them in a limited time makes me more relieved for the remainder of the day.
there’s (very nearly) a contradiction in terms there, Paul
choosing a no-commission broker isn’t being “extra careful”
the main thing you need to know (which i’m rather surprised nobody has yet mentioned, above!) is that a broker without commissions is your counterparty, and gains only when you lose, whereas a broker with commissions is on your side rather than against you, because he makes his living from the commission-fees and wants his customers to succeed rather than fail
What broker platform will suit you shall depend on the kind of trader you are.
First time I am hearing something like that!
True! But I think irrespective of everything, low spreads are every trader’s requirements.
So are fast order execution and no trading charges. How many of us are getting that?
How can that be? I mean no trading cost involved at all? There are no free lunches in this world. I am getting quite low spreads with xm and fxview and for that, paying a few dollars as commission is fine by me. As far as order execution is concerned, fraction of second is what I have experienced till now.
But you know something, most, in fact, I think almost all the brokers I come across these days claim to be 0 commission brokers. It was always something or the other that kept me away from them but honestly I never saw the commission-less thing as a red flag.
Pretty sure the costs are included in pips.
I completely agree with you.
I’m not surprised, I know a lot of traders who find keeping position open overnight very taxing on the mind.