I’m using ICMarkets as a broker. They have two accounts: Standard account (cost is spreads) and Raw spread account (cost is commissions but no raw spreads).
One strategy I’m trying out is scalping for 4-5 pips with the same 4-5 pip stop. I’m trying to figure out which account will be better for this strategy - the standard account with no commissions but added spread or the raw spread account with commissions.
What are your suggestions? What kind of accounts do scalpers use?
being a scalper i prefer account with raw spreads and low commission
What broker are you using and what are your commissions like?
With ICmarkets, I’m getting a $7 round trip commission per lot. Their raw account spreads really does look like the real deal. I don’t know if spreads can get any tighter than that.
Of those two accounts I would use the raw spread account for what you are looking to do
I use scalping as my trading strategy and I prefer the Raw spread account with commissions.
The Standard account has no commissions, unlike the Raw Spread account. Spreads are instead widened by one pip. While your costs will be higher than with the Raw spread account, there will be no commission, making cost calculation easier, making it suited for new traders.