Omg, so today I was going over my trading journal and realized that I am giving away [B]27%[/B] of my [U]very[/U] nice profits to my broker (FXCM). That to me is just craziness. In my options trading, I only pay $1.50 per contract and that is it. And that comes out to around 6%.
How much are you all giving away? Who is the cheapest broker for someone that “lives” in the states (that is still good)?
Hi KarmaSenge,
Can you tell us please where that 27 is going? i mean, it’s the spread and commision and swaps or something else?
what kind of trader are you and what kind of system do you use?
i have used the fxcm demo, i thought they were uk? sorry i don’t know much.
thanks for the post, regards…
How are you getting that figure? Are you including spread, commissions, and rollover? And what is your average pip win?
-Adrian
That 27% is just in Trading Commission. And almost no rollover. I only had $0.70 is rollover.
Trades: 31
Gross PnL: $8,708.50
Commission: $2,377.60 (roughly 27%)
= $6,330.90
[B]$2300 GONE!!![/B] Out of my pocket.
Uggg
Now being in the commercial real estate investing world and business in general for the past 15+ years, I DO understand there is as cost of doing business. But 27% is highway robbery. Know what I mean?
don’t leave us hanging, where is the 27%???
What were the average lot size and instruments you traded?
27% is quite possible in concourse of some circumstances.
Mine transaction charges constitute only 7% in Hotforex, though…
The only person your kidding is yourself. If your going to scalp out a couple of pips here, a couple of pips there, use lots of leverage then your going to lose a bucket load in commission costs. And commission is based on lot size not earnings. Best you stay in real estate. Lots to learn here.
You left out how many pips you earned there.
-Adrian
If he’s coughing up 27% In commission it can only be a average of 3 pips. Its just not fun trading at this level…
But we love it!