I keep seeing all these advertisements for Forex being free to trade and free tools. Nothing is really free. Globex trades all the FX currencies for about $5.00 a RT. I pay $130 a month for charts......100 trades a month equals $630.00 Forex charges 3-5 pips which equals $36-$50 per trade.....100 trades a month equals $3,600.00 -$5,000.00. Wow. Is my math right? :eek:
Thats true. Forex is more expencive to trade. I never traded Globex so I canntot compare. Can you tell me please if on Glebex you can get fill for any size just on any any price - day's high or low - and without slippage?
No one I know has noticed any slippage on Globex at all. ES and NQ are also Globex products. I have had some wild slippage on YM which is CBOT.
Checking out a few Forex websites, there is a great difference in the charges. Some of the currency pairs are as much as 15 pips! My goodness gracious me! TradeStation is the cheapest one at 3-5 pips.
Hmm....I am a small trader, so I would not know exactly what the size problems would be, or liquidity issues. No one in my group has any problems though with more size. And we all trade 3am to 5pm EST. I would assume there are lower volume trading times.
Did you forget to metion that spot forex is 24hours with more pairs and globex don't. I have never traded forex, but i guess this might be the main reason many traders have spot forex account as well.
I pay 2-5 pips spread which isn't a big deal because I target 50+ pips per trade. For me FOREX is nice because I can use better money management with a smaller account because my broker does not use standard contract sizes. I usually play what could be considered 1/10 to 1/2 of a mini lot. With Globex I couldn't even open an account and trade without taking on suicidal risk. The 24 hour thing is nice but it sucks to miss moves in the night or to have to wake up at all hours to monitor things. Plus, I get free charts and data which may not be much to you guys but for the small fry just starting out a couple of hundred dollars a month is a big deal.
I don't know if this is the right forum for my question, but I am a new trader in the currency futures market (eu,sf,jy,cd) and I trade Globex via IB. I was told that there are additional opportunities in pit trading currency futures (cme) that may not be present in the globex. Since IB doesn't allow pit trading I went to OEC; however, the commission for pit currency futures is $12 rt versus 4.80 rt for globex. My question is does anyone have experience trading curency futures via pit and what your thoughts are. Thanks for any information. Ken