Can you avoid broker’s fees?

Discussion in 'Forex' started by jaclkiefrench, Oct 5, 2021.

  1. kroxobor

    kroxobor

    If we talk about FX then dealers determine bid-ask spreads and this is usually indication of elevated volatility.
     
    #31     Nov 1, 2021
  2. I think each broker has its own rules for spread and trading commission, every time trader open new trades will be charged by spread or trading fee with maybe various amounts for each broker, looking broker that offer low spread or at least competitive spread. I like trading XAUUSD and using a low spread FXOpen.
     
    #32     Nov 1, 2021
  3. Kalanim

    Kalanim

    It is impossible to get rid of broker's fees completely because the brokers need to earn the money in order to keep on working.
    I think that your problem is just the broker charges you too much. Trading conditions are different and you'd better browse the forums and the threads which are devoted to the discussing the brokers and their charges. However, you shouldn't forget about the scam which is still present in the forex market. In most of the cases they 'offer' excellent conditions where the trader will earn a fortune. Such superoffers are usually a trap. So, watch out! Probably, the first thing that you should pay attention to is the official regulation of the broker. Not all of the brokerages are able to go through so many filters in order to get regulation. Therefore, this thing will guarantee that the broker is worth your trust. You should also make sure that the broker accepts your style of trading. I mean that there are lots of brokers which don't work with the scalpers and allow to open the deals for not less than 1 minute. For some people this will become a stumbling block.
     
    #33     Nov 3, 2021
  4. S.Luke

    S.Luke

    From my experience, I do not think it is possible to avoid brokers fees, they someone add their costs when you start trading with them either during withdrawals or during live trading.
     
    #34     Nov 5, 2021
  5. Adler

    Adler

    The broker with good trading conditions and reliability is FP Markets, in my opinion. The spreads and commission costs are lower than any other broker I have come across.

    Since ASIC & CYSEC regulate it, they adhere to strict capital requirements, and the customer service is quick in responding to queries even through emails and live chats.
     
    #35     Nov 9, 2021
  6. i dont think there is anyone who is able to avoid hidden fees. so many brokers do it most of the time.
     
    #36     Nov 19, 2021
  7. The best thing to do is to find a broker with low fees compared to others so that you wind up with as much profit as possible. You could look for a 0 commission broker, but that often winds up with higher spreads. However, I do know that CedarFX has a 0 commission account with pretty decent spreads if you want to check them out. They also don't charge any hidden fees for inactivity, account maintenance etc. like I've seen with some of the shady companies.
     
    #37     Nov 30, 2021
  8. You can only look for brokers who charge lower commissions so you save your money.
     
    #38     Dec 1, 2021
  9. You can only cut down on fees like tighter spread or lower commission fees, there is no way to completely avoiding paying fees there arent any brokers out there that would offer their services for free. If you trading gold then Aximtrade has pretty tight spread on it to help you cut down cost.
     
    #39     Dec 2, 2021
  10. True, this the reason I’m using coinexx - commission is a dollar per lot which I found to be the lowest.
     
    #40     Dec 3, 2021