Do anyone know any forex broker with a truly zero spread trading account? I’ve tried platforms like ICMarkets Raw Spread, HFM Zero, etc., but all of these are not zero spread accounts; instead, they start from zero spread.
These trading accounts typically have only 4-6 currency pairs with zero spread, while the rest of them have spreads. I have to pay spread + commission in the name of a zero spread account.
For example, in ICMarket’s Raw Spread account, for GBPJPY, the spread is usually 15 points + commission, whereas in the standard account, the spread is usually 15-18 points, and it does not charge commission.
I hate paying spread + commission in the name of Raw spread/Zero spread from a lot of forex brokers.
Try TD365 - Fixed spread GBPJPY 1.4 this does go up out of hours.
They are Ausralian with an off shore facility - worth a look.
Tom Hougaard uses them and he did a lot of research into broker spreads - TD365 came out top by miles.
Zero spread brokers are like the pub I walked into one afternoon in the English Midlands. I asked the barman for some drinks but he said he was sorry but the pub had just closed.
I said to him, “But the sign outside says you are open all day”.
He replied, “Yes, we are open all day, but we’re not open all day every day”.
I would love to have zero spread brokers also but sometimes you really need to step back and think if this is realistic or not. Most brokers made money by charging their customer (you) a spread + commission. They earn it by providing you a service. Otherwise, your orders won’t get filled. So now you’re expecting them to not charging you anything after providing you a service. Are brokers a charity?
You so expert, and can’t find what you want? What about begging your own broker business and offer your elusive zero spread account with commission.
The commission they charge is essentially in place of adding additional spread to the financial instrument.
As an example if the best bid on EURUSD in the entire world at a split moment in time was 1.07730 and the best offer in the world at the same moment was 1.07795 why in the world would your broker offer you the chance to buy or sell at a price no one else in the entire world is offering.
How do you expect brokers to earn then? One way or another they have to compensate some way like charging a fee as they do in Islamic accounts. Btw HFM or Tickmill spreads stay mostly at zero on major pairs during London session I consider it great improvement compared to five years ago, for example
A broker must also earn money in order to provide quality services. ECN accounts have both spread and commission. On pairs of majors, the spread will be around zero, and the commission depends on the volume and situation on the Forex market. Fxopen or Fxpro have such conditions. The situation was worse before, but now trading conditions are improving. The spreads were normal.