Forex Forums | ForexLasers.com


Go Back   Forex Lasers Forum > FOREX TRADING > Forex Discussion


What is your preferred spread when choosing a forex broker?

Forex Discussion


Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 12-09-2023, 16:52
Level V Lasers Member
 
Join Date: Jun 2015
Posts: 756
Default What is your preferred spread when choosing a forex broker?

The spread refers to the difference between a currency pair's bid and asking prices, which represents the cost of trading and is usually denoted as pips. Traders generally prefer lower spreads as they imply lower trading costs. However, lower spreads don't guarantee better trading experiences since certain brokers may have hidden fees or charges despite low spreads. In contrast, other brokers may have higher spreads but offer better trading conditions or customer support. Therefore, when selecting a forex broker, traders should assess the broker's reputation, regulation, trading platform, customer support, and additional charges besides the spread. Moreover, traders should choose a broker that aligns with their trading goals and strategies. Ultimately, traders should conduct their research and due diligence before deciding on a forex broker with a specific spread.
Reply With Quote
  #2  
Old 07-02-2024, 11:33
Level IV Lasers Member
 
Join Date: Feb 2014
Location: Usa
Posts: 288
Send a message via ICQ to chin100 Send a message via AIM to chin100 Send a message via Yahoo to chin100
Default Re: What is your preferred spread when choosing a forex broker?

When selecting a forex broker, it's essential to consider the spread, which is the difference between the buying (ask) price and the selling (bid) price of a currency pair. Here are some key points to keep in mind:

1. Fixed Spreads vs. Variable Spreads
- Fixed spreads remain constant regardless of market conditions. Traders who seek certainty and want to avoid widening spreads during volatile times may prefer brokers offering fixed spreads.
- Variable spreads fluctuate based on market liquidity. Traders comfortable with market fluctuations and seeking the possibility of lower spreads during high liquidity might opt for brokers offering variable spreads˛.

2. Security and Regulation
- Ensure the broker is regulated by reputable authorities such as the National Futures Association (NFA), Commodity Futures Trading Commission (CFTC), or other relevant bodies.
- Look for brokers with security features like two-step authentication to protect your account from hackers.

3. Transaction Fees and Account Minimums
- Compare brokers' transaction fees and required account minimums. Consider your budget and investment goals.
- Smaller spreads allow you to enter and exit trades at lower costs.

Remember, understanding your trading style, risk tolerance, and goals will guide you toward choosing the right forex broker for your needs.

cheap forex vps
Reply With Quote
  #3  
Old 09-02-2024, 09:37
Level IV Lasers Member
 
Join Date: Oct 2013
Posts: 366
Default Re: What is your preferred spread when choosing a forex broker?

Quote:
Originally Posted by PapiaKhatunAsha View Post
The spread refers to the difference between a currency pair's bid and asking prices, which represents the cost of trading and is usually denoted as pips. Traders generally prefer lower spreads as they imply lower trading costs. However, lower spreads don't guarantee better trading experiences since certain brokers may have hidden fees or charges despite low spreads. In contrast, other brokers may have higher spreads but offer better trading conditions or customer support. Therefore, when selecting a forex broker, traders should assess the broker's reputation, regulation, trading platform, customer support, and additional charges besides the spread. Moreover, traders should choose a broker that aligns with their trading goals and strategies. Ultimately, traders should conduct their research and due diligence before deciding on a forex broker with a specific spread.
I prefer zero spread that's why I opted for raw spread account with Hotforex, spreads on majors usually compress to zero during London session which allow for very cheap scalping.
Reply With Quote
  #4  
Old 10-05-2024, 12:09
Level IV Lasers Member
 
Join Date: Oct 2011
Posts: 221
Default Re: What is your preferred spread when choosing a forex broker?

i wopuld go with standard account with good spreads on majors, i mean im not much of a scalper so hfm works for me, but some brokers have crazy spreads its unreal.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tips on choosing the right forex broker ForexArticles Forex Articles 1 31-10-2021 10:55
Lowest spread forex broker – 5Stars forex 5starsfx Forex Discussion 3 26-10-2020 19:50
Tips on choosing the right forex broker ForexArticles Forex Articles 0 07-11-2016 18:59
(Benefit Scalpers) Low Spread STP Broker - Asia's Fastest Growing Broker Rayzalaff Broker Talk 0 28-06-2016 02:40
What Forex Traders Should Know when Choosing a Best Forex Broker? bryanbian Broker Talk 3 18-11-2015 04:33


All times are GMT. The time now is 09:36.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2024, vBulletin Solutions, Inc.