Hotforex and Tickmill are worth to look at if you will trade with scalping strategy as their live spreads are quite stable and your actual trading results will not deviate much from backtesting.
Well, first thing is to consider current exchange rate to calculate commission and then convert into pips.
This is the formula:
Total spreads = Spreads + Commission * Current Exchange Rate/ Pip Value
Let’s say the spreads on EURUSD is 0.2 and the commission of a broker is $10 RT. Pips Value is always $10 per standard lot for USD pairs (EURUSD, GBPUSD, AUDUSD and NZDUSD).
FYI, at the moment, Current Exchange Rate of EURUSD is 1.16
In this way, we can calculate total spreads
0.2 + 10*1.16/10 = 0.2 + 1.16 = 1.36 pips
Let’s say if the commission is $2
0.2 + 2*1.16/10 = 0.2 + 0.232 = 0.432 pips
Hope this helps!
This is quite helpful. Thanks for explaining in detail.
My broker (won’t name them) is messing up with the withdrawals - they are now charging fees for withdrawals. So I wanna switch to another, any recommendations?
Do you know if Capital.com are a good broker generally speaking?
Oops, that’s not good.
IC Markets & Pepperstone are the ones I’m using, they don’t take fees.
Been there before bruh, add fxview too to the list. Good one.
Could anyone tell me how to get a detailed report for the account statement/trading history from TradingView?
Their help center is of no use.
Thanks for these suggestions, will shortlist one that works well for me!
I haven’t heard of them before. Will do some research and get back to you on this.
Btw, from where did you hear about them?
Haven’t really heard about them before, but their website seems alright. regulated with fca & cysec, so that’s a good part.
Fxpro customer support is now available 24/7.
CMC Markets is planning to split into two entities, does anyone know about this exactly?
Been hearing about that, just read from here
Seems like it is in early talks and this is their plan:
preparing to launch a new UK investment D2C and B2B platforms next year that will offer investment products and physical shares, among others.
It will be a great addition if you update the brokers list with the multi asset platforms like acttrader, ctrader and finalto. Have seen there is no platform information offered by all these.
Check them as well BDSwiss Plus500 and FP Market.
Well yeah, I think so.
Compiled a few more to update the thread, tho I don’t have access to edit my OP yet.
You mentioned a few that I’ve heard good things about online and that some of my friends use personally here. I’m one of those that likes using certain offshore brokers because of the benefits, but I’d definitely consider your list if I ever had to switch.
Same here, I use offshore brokers as well, but this list is really good if you are looking for the regulated one. Any particular faves from the list? Some of these got my attention, might try them out soon.