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.
The most important thing to see in a broker is the trading conditions they provide. So first define your plan and then see if the broker you choose aligns with your trading plan.
No I agree. But at least with regulated brokers, you actually have something to fall back on. Whoever is regulating them can be contacted.
Ya that’s true, but do you know personally anyone who’s contacted any of these regulatory bodies, just curious.
Also if they are flexible with strategies.
I completely agree with you! Trying a demo account with any broker gives a very good idea about the platform and the services. I do that too.
It’s quite alright to use multiple brokers for trading if you’re getting what you want and what suits your trading needs better. I’m completely okay doing that right now. I’m using about 4 to 5 brokers for my trading. The coordination is a bit of a task but there’s no harm if you’re making decent returns right?
@ Jack Sure, if it works for you, that’s great. Like I’ve been using Etoro along with Fxview for my trades. I get good commissions with both and the spreads are as low as 0.0 pips with Fxview so I’m fine with using two brokers at the time.
Very well said. Brokers with no commission are market makers taking other side of the trade. They gain when you lose. So, please don’t fall for the no commission trap.
Yes, strategies do make a difference. Most people think it is the platform but the strategies and tools a trader uses matters a lot.
I’ve been working on some very good strategies myself and so far I’ve tried price action, range trading and scalping. Wish me luck.
Yea, for sure. Couple of traders, one contacted the FCA, another the CFTC. They both responded back, but the complaints didn’t go anywhere…
More about read the fine print when you sign up with a broker and understand that details. Not so much about actual fraud.
Hmm I thought as much
I’d rather prefer day trading over scalping with buying support and selling resistance and have been able to make money most of the months. Not saying I’m anti scalping, but I’ve found this to be a better option.
I’ve tried day trading initially but had to change the strategy. Constantly watching the market and losing more than intended in case of massive slippage was too much to handle.
Sure if that suits you but scalping so far has been going well for me probably because I’m using the tool order flow that shows me the buy and sell orders in the market.
I too have been a day trader for long now and doing decently with few risk management strategies in tow like managing the risk/reward ratio. Using low commission brokers too - degiro, fxview, ig. So, even if I’m losing 10 pips but winning 15, I’m still making a good deal of profits.
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