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Author Topic: Spread is king?  (Read 6327 times)

Offline Antje Wagner

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Re: Spread is king?
« Reply #60 on: April 12, 2017, 10:56:20 AM »
The first thing we see before open any position is spread , new traders specially select low spread pairs. They do not want to give big spread to broker. I also prefer low spread and major pairs so that I can work with moving market.

tight is ok, as long as it is still beneficial for broker and client. but many clients request rediculous - almost brazen - spreads. in the same sentence they request the highest leverage. That's where i take a direct talk to the client about the business.

Offline SusanBrown

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Re: Spread is king?
« Reply #61 on: April 20, 2017, 10:46:13 PM »
Lower spread helps if you are a scalper and EA trader otherwise, general spreads from brokers are okay if you are a swing trader. I think 1-3 pips are tolerable but more than that is not acceptable.
I used to trade in a daily timeframe but due to present market uncertainty ahead of French Election and Trumps surprises I am scalping under an FCA regulated account on a ECN Broker (Tickmill).
If your broker offers IB make sure your account is not under any IB holders. Brokers most often add .5 pip extra spread with IB holding accounts.

Offline Jason Stepen

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Re: Spread is king?
« Reply #62 on: April 21, 2017, 12:06:48 AM »
Yes , spreads is King in forex trading , because the trading spreads can affect the result of our trading with certainly , and this is an important financial tool to choose a broker.   

Offline Antje Wagner

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Re: Spread is king?
« Reply #63 on: April 21, 2017, 08:57:37 AM »
Well, I think it depends on the services that is offered by an IB. If trading lessons are offered for example, then it is no shame to add a bit on the Spread, provided the lessons are either for free then or can be obtained on a discount basis.
Furthermore it is somehow difficult to Brokers to pay a reasonable amount of rebates to the IB when not marking up. In my experience, IBs rather think of themselves than thinking of the client. They want to get as high rebate as possible. This is hardly possible without marking up. Then they ask to mark up the spread with rediculous amounts of pips where we as Broker say "sorry but you cannot sell this to clients!!".
I think a good basis must be given between IB function and client treatment! Furthermore the IB must explain the client why the Spread could be higher, there must be a real reason for it, otherwise it is just hustle.

@ Jason, I absolutely agree but nowadays clients seem to be bit greedy (sorry for the word) to get the lowest Spread. Guys, be aware that Brokers have costs to pay on their own. One is the Spread that they are having as well with their LPs. others are company own costs, bridge, safekeeing of accounts, etc etc.
If a client wants to have a spread - as best - of 0 pip or let's say 0.3 and NO commissions, please ask yourself how he can pay the own debts, how he can do that at all... provided you are dealing with a european broker without dealing desk, without cheating on clients.
If you find a broker, who confirms you to get discount spread, no commissions and maybe also a bonus, you should be warned and when on top you can use a HIGH leverage, you should run for your live, because that's a scam broker for sure then ;)

In any case I think a common basis should be given between broker costs and client needs! Both parties should understand the other side.


Cheers,
Antje

Offline SusanBrown

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Re: Spread is king?
« Reply #64 on: April 22, 2017, 10:12:57 PM »
Lower spread helps if you are a scalper and EA trader otherwise, general spreads from brokers are okay if you are a swing trader. I think 1-3 pips are tolerable but more than that is not acceptable.
I used to trade in a daily timeframe but due to present market uncertainty ahead of French Election and Trumps surprises I am scalping under an FCA regulated account on a ECN Broker (Tickmill).
If your broker offers IB make sure your account is not under any IB holders. Brokers most often add .5 pip extra spread with IB holding accounts.

This is bad information. Making the statement "make sure your account is not under any IB holders" is pure ignorance. Many traders benefit from discounted commission rates and rebates with absolutely no  difference in trading conditions.
Im my experience, the number of brokers that mark up spreads to compensate for rebates paid to clients is very low. We have a strict policy of not dealing with brokers that engage in this practice.

I am telling you from my experience.  LP charge at least .2 pips ( e.g. eurusd) and broker has other expenses. IB commissions are high, sometimes $8-$20 for each lot!

How a broker can give such money to an IB holder? Broker dont give it from their own pocket which Im sure. You can visit FXCC (I moved from them to Tickmill) and ask them how they increase .5 pips with their ECN account when you assign it under an IB. I can give you more example.

IB holders dont care about traders but their own interest.

Offline SusanBrown

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Re: Spread is king?
« Reply #65 on: April 23, 2017, 05:45:51 PM »
Lower spread helps if you are a scalper and EA trader otherwise, general spreads from brokers are okay if you are a swing trader. I think 1-3 pips are tolerable but more than that is not acceptable.
I used to trade in a daily timeframe but due to present market uncertainty ahead of French Election and Trumps surprises I am scalping under an FCA regulated account on a ECN Broker (Tickmill).
If your broker offers IB make sure your account is not under any IB holders. Brokers most often add .5 pip extra spread with IB holding accounts.



This is bad information. Making the statement "make sure your account is not under any IB holders" is pure ignorance. Many traders benefit from discounted commission rates and rebates with absolutely no  difference in trading conditions.
Im my experience, the number of brokers that mark up spreads to compensate for rebates paid to clients is very low. We have a strict policy of not dealing with brokers that engage in this practice.

I am telling you from my experience.  LP charge at least .2 pips ( e.g. eurusd) and broker has other expenses. IB commissions are high, sometimes $8-$20 for each lot!

How a broker can give such money to an IB holder? Broker dont give it from their own pocket which Im sure. You can visit FXCC (I moved from them to Tickmill) and ask them how they increase .5 pips with their ECN account when you assign it under an IB. I can give you more example.

IB holders dont care about traders but their own interest.

So your experience with one (bucket shop) broker sums up the whole IB industry?
You embarrass yourself with your ignorance. I have built a business as an IB and my clients come first always. You state that "IB holders don't care about traders but their own interest." There are members of this forum that I have helped with no self-interest whatsoever, as well as many other traders.

Why not get your facts correct before posting ill-informed garbage on the forum?


I never mention that you dont care your account holders. I meant to say it is very rare. I have not seen much IB holder like you in my 10 years of trading experience.
Can you name few brokers that has less spread and well IB commission? Broker must be FCA regulated. Then compare with all others who add extra spread. It would clear your unilateral view.

Offline SusanBrown

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Re: Spread is king?
« Reply #66 on: April 24, 2017, 09:30:38 PM »
@jonpearce

You are talking about examples not the whole industry. Only very few brokers offer such discount and mostly covered from their marketing cost. And Their commissions are very low. IB holders always try to push the traders who offer them better spread commission, where their business interest stands. You know that very well.

Visit https://donnaforex.com/index.php?board=113.0 pick 50 brokers and let me know your thought.

My interest is for traders not for the IB holders. Most new traders dont understand the fact and they pay extra pip! It is okay if anyone do that by knowing it, they might have some mutual understanding.

I am not against IB, Im telling the new traders to think if its worth having wider spread.
We are talking about lower spread in this thread.

Offline SusanBrown

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Re: Spread is king?
« Reply #67 on: April 25, 2017, 10:43:58 PM »
@jonpearce

You are talking about examples not the whole industry. Only very few brokers offer such discount and mostly covered from their marketing cost. And Their commissions are very low. IB holders always try to push the traders who offer them better spread commission, where their business interest stands. You know that very well.

Visit https://donnaforex.com/index.php?board=113.0 pick 50 brokers and let me know your thought.

My interest is for traders not for the IB holders. Most new traders dont understand the fact and they pay extra pip! It is okay if anyone do that by knowing it, they might have some mutual understanding.

I am not against IB, Im telling the new traders to think if its worth having wider spread.
We are talking about lower spread in this thread.

I really don't know what your agenda is but your statements are trash.

You stated that brokers inflated their spreads for clients joining and trading under an IB and I discounted that statement.

You stated that all IB's only have their own self-interest in mind. I discounted that statement.

You asked for FCA regulated brokers that met your criteria and I provided two.

All the brokers here https://donnaforex.com/index.php?board=113.0 offer discounts or rebates or they would not be in the 'Broker Rebate and Discount' section obviously. You do realise I put together that section I hope?

Please be aware that Donna receives commissions from accounts opened via those forum IB deals to help cover the costs of running this forum. I see your comments here as a conflict of interest with that endeavour.

Are you deliberately trying to undermine the running of this forum by trying to discourage forum members from using this free service offered by Donna and myself?

What is your agenda? You have a link to a broker service in your signature - https://www.bestforexbrokers.com/

Can you explain your association with this business? You have grilled me so lets see how you respond when the tables are turned.

I looked at this website in your signature. It states that the 'Best Forex Brokers - April 2017' are XM, Plus500, IronFX, Hotforex and Xtrade............surely you cannot be serious?

Why would you recommend these brokers to traders? There are a number of bucket shop brokers listed here and you recommend them to traders? IronFX?
Do you have IB deals with these brokers? What do you get from this website offering very poor information and recommendations to potential clients?

You say your interest is for traders yet you would direct them to some of the brokers recommended on your website? How do you sleep at night?
It seems your business ethics are as flawed as the ill-informed, ignorant comments you post in this thread.


P.S.  @SusanBrown.........See your No 2 broker recommendation for April 2017 has just settled with Belgium regulators  http://www.financemagnates.com/forex/brokers/breaking-plus500-settles-belgium-regulator-e550k/?utm_source=Breaking_News&utm_medium=email&utm_campaign=25.4.2017

Do you have any other 'Top broker' recommendations for us?


Jesus man, you make things complicated and putting them to miss direction.

We are developing bestforexbrokers.com with hole new look and the site is running from older database. Month name get auto generated by script which follow traders vote. We personally do not recommend any broker (that is our primary goal). We let the traders to compare them by themselves and choose which support their interest.
I am telling new traders to ignore the IB holders if they are the reason for wider spread. I always suggested that. If broker dont do such practice, then IB is not a problem.

I have 42 IB accounts and more than 500 traders. I provide them Free Trade setups every day if they get under my IB. And I tell them to change the broker if they add extra spread. They are always aware of it.

So, you know the difference between you and me. I tell traders and stands with them. So you see now I dont spend sleepless like you do. Even, I sleep more than 9 hours a day.

And now come to another point, if you get commission from Broker and not from spread then why are you shouting like this? You should be fine as traders are not getting wider spread.

Where exactly DonnaForex says they will delete an account unless the person signup with their chosen broker that has 10 pips wider spread so that they can get 9 pips commission from it? Donnaforex let traders choose which best for them. Never force them.

Awake up man. You are talking against everything this forum stands for!

Offline donnaforex

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Re: Spread is king?
« Reply #68 on: April 26, 2017, 08:10:44 AM »


Where exactly DonnaForex says they will delete an account unless the person signup with their chosen broker that has 10 pips wider spread so that they can get 9 pips commission from it? Donnaforex let traders choose which best for them. Never force them.

Awake up man. You are talking against everything this forum stands for!


If you are claiming that any of our cashback offers include such a deal then i need to know about it, please show me which ones are doing this - we need to flag it up and tell people of this on any of the specific broker topics concerned, since there's no point paying an extra 1 pip commission to simply get a 0.5 pip rebate. I've always been adamant that we DON'T advertise any such deals.
Follow DonnaForex on Facebook and Twitter.
 
If you need to contact me, email admin@donnaforex.com or Skype 'donnaforex' or PM via the forum.

Offline SusanBrown

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Re: Spread is king?
« Reply #69 on: April 26, 2017, 05:08:32 PM »


Where exactly DonnaForex says they will delete an account unless the person signup with their chosen broker that has 10 pips wider spread so that they can get 9 pips commission from it? Donnaforex let traders choose which best for them. Never force them.

Awake up man. You are talking against everything this forum stands for!


If you are claiming that any of our cashback offers include such a deal then i need to know about it, please show me which ones are doing this - we need to flag it up and tell people of this on any of the specific broker topics concerned, since there's no point paying an extra 1 pip commission to simply get a 0.5 pip rebate. I've always been adamant that we DON'T advertise any such deals.

Thank you Donna , It was just a figure of speech for jonpearce as he/she was defending IB blindly even if that goes against a trader.   

I look into the brokers and will let you know if I get any suspicious wider spread brokers (due to IB). Hats off to you, No one better stands for the traders but you.

Thanks

Offline drunkfx

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Re: Spread is king?
« Reply #70 on: April 27, 2017, 09:35:29 PM »
What are legit and valid spreads comparisons between brokers? Myfxbook seems to display only price feed spreads (indicative), not execution spreads, so basically its useless for serious traders.
Is there only an option to rely on traders testimonials?

Offline SusanBrown

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Re: Spread is king?
« Reply #71 on: May 01, 2017, 08:25:56 PM »


Where exactly DonnaForex says they will delete an account unless the person signup with their chosen broker that has 10 pips wider spread so that they can get 9 pips commission from it? Donnaforex let traders choose which best for them. Never force them.

Awake up man. You are talking against everything this forum stands for!


If you are claiming that any of our cashback offers include such a deal then i need to know about it, please show me which ones are doing this - we need to flag it up and tell people of this on any of the specific broker topics concerned, since there's no point paying an extra 1 pip commission to simply get a 0.5 pip rebate. I've always been adamant that we DON'T advertise any such deals.

Thank you Donna , It was just a figure of speech for jonpearce as he/she was defending IB blindly even if that goes against a trader.   

I look into the brokers and will let you know if I get any suspicious wider spread brokers (due to IB). Hats off to you, No one better stands for the traders but you.

Thanks

You get pulled up and then lie to cover yourself?

Here is a quote from my reply to your paranoia of brokers increasing spreads - "Im my experience, the number of brokers that mark up spreads to compensate for rebates paid to clients is very low. We have a strict policy of not dealing with brokers that engage in this practice."

I stated that we have a strict policy of not dealing with brokers that engage in this practice. This is "defending IB's blindly"?

You are mental buddy. I was talking about the brokers who add extra pip for IB in the first place and you are talking nonsense and defending your IB since the begging. You serve only yourself not the traders. I am going to ignore your nonsense replies.

Offline ianj

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Re: Spread is king?
« Reply #72 on: May 01, 2017, 09:53:08 PM »
No broker has the best spreads. If you are able to monitor multiple brokers feeds/spreads you will often see that they specialise. ie they concentrate their narrowest spreads across a small group of pairs, letting others slip wider

You also see skewing where a spread is tight yet the price is skewed up or down depending on the view on the LP and/or broker. The "best" price is often not from the tightest spread. Ideally you would aggregate but this is complex as you carry positions split across brokers which involves costs in terms of complexity, risk, rollover costs/swap etc

A simpler way is to maintain a small group of brokers, each specialising in its own set of pairs - then running relevant strategies for each broker according to its specialisation

Take a look at this and tell me its simple - and this is just cable
Its quiet at the moment so its fairly uniform - look at 3pm GMT and its just a tad crazier

I could show you another pair and it might be a different picture
« Last Edit: May 01, 2017, 09:57:04 PM by ianj »

Offline Corey Anderson

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Re: Spread is king?
« Reply #73 on: May 02, 2017, 05:37:33 PM »
Here is my main trading weapon is trading strategy! Then my second strength is my healthy trading equity! And of course, I like to trade with a friendly trading environment so, I count all of my trading facilities and features! Big trading spread kills my profit, so naturally I like to use those brokers who are active on low trading spread service!

Offline StrukerBob

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Re: Spread is king?
« Reply #74 on: May 02, 2017, 10:57:42 PM »
Does anyone know of a Forex Broker with servers in London that gives good spreads on an ECN/STP Account?

 

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