Very low spread FOREX broker

Discussion in 'Forex Brokers' started by Adibi83, Nov 2, 2018.

  1. Adibi83

    Adibi83

    Hi there

    I'm looking for a FOREX broker which provides very low spreads (for scalping). I need 0.2 PIPS tops for major currencies (willing to pay a comission if needed).

    There are many suggestions out there, but perhaps some of you could recommend ...

    Many thanks
     
  2. cvds16

    cvds16

    I quite like Tickmill.co.uk
     
  3. LMAX
     
  4. Turveyd

    Turveyd

    Liking ICMarkets, it's that kinda spread + commision if you want, I prefer just spread easier to see exact P/L, both work out the same don't fall for the 0.2 + 0.6 comm.

    Scalp DAX 1 pip/pt via above during German open hours, that's what I do!!
     
  5. pipeguy

    pipeguy

    Great approach, actually DAX is really profitable as CFD contract trading costs are surprisingly low at Hotforex despite my aggressive scalping style. I feel that I'm ready to abandon forex pairs at all, though it was not quite evident decision for me 1 year ago
     
  6. noahark

    noahark

    You can get 0.2 - 0.3 on EURUSD, AUDUSD and USDJPY at Forexchief Broker. Not all Major pairs have low spreads.
     
  7. pipeguy

    pipeguy

    Sold USDJPY with Hotforex on Friday after it rose on China bad figures and ECB decision. Fed should be dovish next week, so American currency looks like oversold currently
     
  8. I have checked and you are right. I am currently looking for a broker. I read some good reviews about this broker. I still have my doubts, but maybe I will check closely.
     
  9. pipeguy

    pipeguy


    So what results your broker research has yielded to you? Any solid candidates to start trading with?
     
  10. billv

    billv

    For very low spreads and fund safety I would choose an Australian broker, and depending on my trading volume and the instruments I trade I would choose one of the following.

    My personal experience with 5 to 6 figure trading accounts

    Global Prime: :finger:
    Advantages:

    Very low negotiated spreads+ commissions. Even lower than if we've used IB's.
    They say that they provide their clients with trade receipts which show which Liquidity Provider filled a trade. :finger:
    ASIC Regulated and our funds are kept in Australia, in AAA rated banks :finger:
    +ve and -Ve swap charges seem reasonable.

    Disadvantages:
    Don't have as many currency pairs and indices as other brokers (but its a good selection).
    Sometimes not as liquid (My experience) but they are good for most hours of the day.

    ICMarkets:
    Advantages:
    Very low spreads+ commissions when using IB's. I've used HFTGroup (google them)
    If you can be your own IB its even better.
    ASIC Regulated and our funds are kept in Australia, in AAA rated banks
    +ve and -Ve swap charges seem reasonable

    Disadvantages:
    They only negotiate fees on very very high volume, like 1000 lots per month.
    Their live data feed sucks
    Their withdrawal system can be confusing and is slower than it should be.
    No trade receipts and they refuse to provide one even after compelling arguments (personal experience). A sign that they maintain B books (liquidity is provided by the room next door :mad: :banghead: :thumbsdown:)

    Pepperstone:
    Advantages:

    Very low negotiated spreads+ commissions but in order to get those, a trader needs to be trading large volume (over 100 lots per month)
    If a trader is not doing high volume then its better to go through an IB (I've used HFTGroup (google them)) but if you can be your own IB it is even better.
    Good withdrawal system.
    ASIC Regulated and our funds are kept in Australia, in AAA rated banks
    Disadvantages:
    Their -ve swap charges are higher than they should be and the +ve swap is lower (on most instruments).
    No trade receipts (a sign that they maintain B books):thumbsdown:
     
    Last edited: Feb 18, 2019
    #10     Feb 18, 2019