Hello there, I am currently with an ECN broker, which pairs have the lowest spread and lowest commission, but also a high pip value. Any help would be massively appreciated. Thanks, all the best!
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You can check IC markets or Fxview
thanks for replying, gracewilson, do you know any pairs with “lowest spread and lowest commission and high pip values” on ICMarket
I generally trade on major forex pairs
Pairs like EURUSD,GBPUSD,EURJPY,USDJPY etc.
From broker to broker it might be different but these ones above are sure bankers.
Although some brokers charge commission for zero or less spread while others don’t charge commission but av a bit higher spread.
Yes, i agree with you. That is why I prefer trading on major pairs
Exactly my point here. There are hundreds of brokers out in the market promising zero exchange or regulatory fees, no data fees, and the best part- no commission. To a beginner these aspects would be too enticing, and this alone can prove to be their mistake.
Speaking in terms of spreads, there are brokers who offer a variable spread, others offer fixed spreads, and then there’s a segment that would seek a commission depending on the spread percentage. It’s entirely upon the trader, which category you would want to settle for.
Rightly put. Selection of the right brokerage company or broker is very important. Choosing a reputed broker who’s well capitalized and holds good relationships with the foreign exchange banks can be a turning point. E.g. fxview and IB both offer spreads on popular and tradable currencies, sometimes as little as 1.5 pips even in inactive times.
I am very sure you can get that on the Major pairs if you using Tenkofx broker, because from what I see here, EURUSD, GBPUSD, USGJPY have incredibly low spreads. Leverage is 1:500 tops and commission is 0.1 for a whole round trade.
Go majors. Almost every major pair comes with lowest spread and high liquidity. There are exotic pairs too that I tried but yeah, require hell lot of time and screening to make a decent profit.
I have done my trading in the Exotic pairs many times and it is not an easy task.
When choosing a broker, tight spreads, and low commissions are an important consideration as they can make a significant difference in the profits that you make. You must always consider your requirements before you choose a broker for your trading needs if you are serious about it.
It actually depends on the broker. But generally, EURUSD has the smallest spread.