Yes, profound resentment from a hackneyed question is guaranteed, but can I hear your fresh opinions on that matter one more time? Hotforex just introduced some Zero account, seems it is a just comission based one (without going into the root of the matter), isn't it? So is it makes a sense to switch to it from Premium one? Cheers.
You need to do the math, depends on position size. I prefer IB commission based, as my minimum position size is a multiple of $100K USD Those who trade in smaller sizes may prefer low fixed spread if you can find them. Most bucket shops widen their spreads considerably at volatility events. Either way shouldn't make a difference if you trade Currencies with larger minimum targets. i.e. > 30, 50, 100 pip. Trying to scalp Forex for less than 10 pips you are just working for the brokers. imho
well, i'm now using Armada markets ECN account low spread commision based, since traders should understand how spread affect our trading result. for example from my scalping strategies resulted monthly total order at 150 transaction on EURUSD, at non ecn broker service, fixed 2 pips spread on eurusd which means, 150 x 2 pips, 300 pips monthly cost in total, but now witn my ecn account 0.7 charged (spread+comm) on eurusd, spread cost are 0.7 pips x 150 trades equal to 105 pips monthly cost. 195 pip difference, means i put my account at cheaper cost brokerage service. "Either way shouldn't make a difference if you trade Currencies with larger minimum targets. i.e. > 30, 50, 100 pip. " indeed i having an issue with several brokers, with minimum target, it called stop level, average 5 digit brokers put 20 pips minimum, some are 50, but at my current account with armada markets there's are no stop level or TP level, so very good for scalpers. "Trying to scalp Forex for less than 10 pips you are just working for the brokers??" are you sure ?? try google for 'HFT (high frequency trading)' how thus scalper affect global economic. hope this help, as i'm widely open for any kind of advice.
If spreads are fixed, you did the math. You determined what works for you. No idea what you are saying. Broker puts 20 pip minimum? IB doesn't require a minimum stop or target level, that is up to the trader. Refering to a retail discretionary trader. point and click. 10 pip target with a 1 pip spread or commission cost, 10% of winning trades goes to broker. Call it what you may, I call that a disadvantage. HFT usually aren't paying retail commission costs. My point was spreads can change, and bucket shops whose profit is derived from spread often control them. Point and click Retail traders are at a disadvantage attempting to scalp. And one must determine what is appropriate for their circumstance themselves. Either way, you seem happy with your situation. Which is all one can ask for.