Hi Alpari, I have a couple of questions regarding the Alpari MT5 account. I am interested in this because I am trying to move on to scalping in the near future. Therefore I am trying my best to reduce the costs of opening a trade.
[B]2)[/B] I have a Micro account. Therefore, for me, the only cost involved is the spread (say 3 pips).
Do I have to pay the spread even if I am using an ECN account? And the Commissions charged by the broker? Then I guess I double my costs because I pay 1. commission and 2. spread
So why should I consider opening an ECN account?
[B]3)[/B] Could you give me a ballpark value here?
Ex.
a) I BUY 1 MINILOT of EUR/USD at 1.3000 (bid price as shown in the MT5) with a TP of 1.3005
b) So after price hitting the TP. Do I get 5 pips of profit and then pay the commission?
c) Is the profit [$5 - Commission]
I hope you get the idea . If not please ask me in the tread.
Thanks in advance…
About Alpari - i live in Russia we have Mt5 alpari only for DEMO
About SPREAD AND COMISSIONS:
[B]ECN Comissions[/B]: if broker give you fast Exeqution for better price (this is what they say) in meens They Take for This fast trading without requoter (for slapling) COMISSIONS - but this is not meen that you will never get there BIG spread in News time. Its not Constant Spread Brokers (ECN).
[B]SPREAD[/B]: this is Broker Comissions from your Every Order [B][(open-closed)spread/2 ][/B] if its variable Spread(30-50% from your spread or your clients even with rebate or IB)
So i think you will PAY both - Comissions + [(open-closed)spread/2 ]
Actually I have no idea what a Cent Real Account means…
Thank you Alex for taking your time to reply. Where I live I can’t open a MT5 Demo, but I can open a Real MT5 account.
[B]So is the only upside of an MT5 account is fast order execution? [/B]
Your are correct. You can experience ECN trading on the feature-rich MetaTrader 5 (MT5) platform from just USD200 minimum deposit.
Since our forex spreads are set by price competition from multiple liquidity providers, they can vary based on market volatility and liquidity. As that changes, so too can the spread. If you would like to gain access to tighter spreads, I would recommend looking into the either our MT5 ECN account* or MT4 Pro account which offer lower transaction costs through a reduced spread/commission combination. The transaction cost is dependent on the amount of volume you transact on a monthly basis, so transaction cost decrease as your volumes increase. Commission is based on volume traded per calendar month and commissions are nominal per currency pair traded.
*Alpari (UK) continues to offer you no-commission trading on the MetaTrader 5 (MT5) ECN account in 2013. The extension of no-commission trading will help you benefit from the new, feature-rich MT5 trading platform for longer without having to pay commission charges. In the future Alpari (UK) may introduce commission charges but if we do we’ll inform you well in advance.
Thanks for the much detailed explanation Alex. Is it possible at all to withdraw my profit to a Skrill account? The only option I see in the website is Bank withdrawal.
