AskPips.com

personalme

I don't have many experiences about brokers since I use only 1 broker so far. But let me share what I know. Though trading costs (spread, commission, overnight rate) are important things to be considered when you're choosing a broker, it is not the most important IMHO. I believe you know about this point as well. I have read a lot of stories about these kind of "lowest costs" brokers but ended in a scam. Usually they will treat you nicely as long as you are struggling in your trading career. But soon when they found you can grinding profit consistently from the market (which is their pocket also - market maker), they begin to cheat. There are a lot of ways to cheat in forex btw. It is varied from rejecting your order, hunting your SL, or simply reject your profits withdrawal.

I believe, somehow brokers are just like banks. When they're growing bigger, they can provide better liquidity for their customers and therefore can lower their costs. Picking a low rate but not well known broker means a risking your accounts in my opinion. I suggest you to try Oanda or MB if you never try them before. Oanda's EURUSD spread is 1 pips during the normal condition. MB Trading also has same condition though there's trading commission around 1 pip per trade. But MB has a good advantage since it is an ECN and they never reject the order you send.

over 2 years ago

Source(s):

• http://www.forexpeacearmy.com/public/forex_broker_reviews
• http://fxtrade.oanda.com/forex_trading/why_trade_with_oanda/spreads/all_spreads....