Anyway, we are getting a bit off topic now. I am still looking for a spread-betting broker with very low minimum bet per pip and a wide variety of markets offered. Thanks all
I have been using the INSTAFOREX for a long time, beside this there are so many broker, you can use anyone of them.
do you ?? i;ve been with them since their first year . several attempt winning on their weekly contest. one thing for sure do not spend much money opening account with them. read carefully their trading agreement. even your board manager, open their own brokerage company called m###uz! avoid this one unless you need to open a cent account, they really good with collecting money from the poor.
IB is your very best choice. probably no tax withholding from IB for UK costumers (there's none for German clients), but you'd be required to tell the tax man yourself - if you don't forget hehe They offer CFD's, very similar to Spread-Betting. I believe it's exempt from stamp duty, but better check yourself. about trading risk in forex: with IB you can choose the risk yourself. margin might be 1:200 but it has nothing to do with your position size! you can take a position as low as 1 USD or as high as 100 million if you have the funds.
just focus on a broker that allows you to trade a low minimum amount of notional. Forget about leverage, leverage has absolutely nothing to do with this. Small position size will allow you to set stops at 3% and only lose a specific amount (an amount to your liking, you just need to do the math). The only requirement that you should pose to your broker is that you can actually trade a small order size that you derive through your risk calculation. Some brokers require minimum 100k usd equivalent lots, others even 1million. Other as little as 1$. If you do not follow my line of reasoning then you should pick up a 101 currency trading book for beginners.
fuxx off, usdjpy 5pips and eur 2.6pips? Moderator, can those bastard shills please be banned for good? (you can of course choose to shoot the messenger instead, but guys like this make me sick!!!)
Hello, the best thing to do is to look under their skirt, by finding out more about the actual trading costs. Trading cost is influenced by mainly spread and commissions, but you should also pay attention to swap mark-up and conversion loss. These cost types are less known, however they can raise your trading cost substantially. If you want to get a good comparison of broker costs, I'd suggest you to take a look at the TraderProofer (http://tradeproofer.com/), they have a cost comparison engine which takes all types of costs into consideration, you can even personalize your search accorcing to your trading style. I hope this one helps for you.
Its been a few months since I traded forex with IB but in my account with idealpro the size was about $25,000 for just one contract. Have they got a new system?