Ya @David, precisely why I’ve decided to keep a long term investment in ethereum and bitcoin, opened a new account on turnkey forex for that, the overall cost for holding an asset long term I found to be very reasonable with them. For trading I’m using etoro’s zulu trade, copy trading short term with $200 to know a bit about this market.
So true, add to it the advantage of flexibility, to be able to create more positions.
I don’t think forex is not transparent. In fact it’s just the opposite. Each and every trader out there has a free and an equal access to the information in the market. Making decisions, how well calculated and risk-free they should be is based on that is something that depends on each trader and that’s what counts.
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Agree but what pokes me the most is the high commission fee by some ecn brokers. Thanks to the so-called moderate spread, I ended up paying more than what I earned and suffered loss. Even though, in books, it was a successful trade.
Back testing or analyzing the historical data to analyze the market trends and evaluate which direction the market will be headed to, can’t make the market anymore transparent.
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But not all the stocks registered with the exchanges come with options contracts. I personally found it difficult to hedge the positions with my options strategies.
That buddy you should have thought before making the investment. Let’s not deny the fixed spreads between all the trades that increase from 0 pips on major currency pairs. In fact if you compare it to STP, the trading fee is pocket-friendly.
You’re right mate. ECN brokers are really trustworthy as opposed the Market makers that will trade against you.
Yes, ECN brokers are definitely a better bet. But I have seen many ECN brokers claiming for low spreads but they actually give you mark-up spreads. Choosing a broker will always be a tedious task. There are very few brokers like ■■■■■■■, Pepperstone and Saxo Markets that actually offer low spreads.
Are all stp brokers market makers?
On the contrary I think because ecn brokers charge commissions, they do not really widen their spreads to compensate for commission-less trading.
The fact that ECN accounts provide a detailed market depth chart is extremely crucial for me. This as a matter of fact I understood after trading with turnkey forex and the assortment of highly advanced charts I got access to.
Along with that, buying the currency pairs from one liquidity provider and then selling them to another at higher price is a way to bank in money.
Yes, ECN brokers are definitely a better bet. But I have seen many ECN brokers claiming for low spreads but they actually give you mark-up spreads. Choosing a broker will always be a tedious task. There are very few brokers like ■■■■■■■, Pepperstone and Saxo Markets that actually offer low spreads.
I agree with you. But in terms of transparency I was particularly talking about brokers. I know there are many trusted brokers out there. But also there are brokers that manipulate trades and clients face great difficulty withdrawing their profits. I have even seen my friends facing difficulty withdrawing from regulated brokers.
There’s really no comparison between the ECN and market maker brokers. The former is transparent and economical while the latter makes profit through the larger bid/ask prices. Why would anyone want to trade with a broker having so much uncertainty of trading against you on the pretext of earning more?
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I always thought saxo markets to be a high cost broker, isn’t their minimum balance requirement really high?
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I find calculating the targets and stops to be more challenging. Is this because of variable spreads and constant price changes?
Tighter spreads and fixed commissions are second nature. Take it or leave it.