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How to choose the Different types of Forex Broker?

Discussion in 'Forex' started by Forextamil, Jul 30, 2020 at 3:03 PM.

  1. Forextamil

    Forextamil Registered

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    Hi guys

    I think I have worked this out correctly but wanted to check it before settling on my broker.

    Assume all other things are equal, fund security, platform tech etc...

    Broker A
    Typical Spread - 1
    Commission - $5 round trip (1 lot)

    Broker B
    Typical Spread - 0.6
    Commission - $7 round trip (1 lot)

    Pip value (1 lot) - $10

    Broker A total cost of single trade - $15

    Broker B total cost of single trade - $13

    Initially, I was distracted by the lower commission rate offered by Broker A but assuming the above is correct, and all other things are the same in terms of service and platform, Broker B is the right choice.

    Am I missing anything, and in terms of charges it is just spread and commission that needs to be factored in right?

    Thank you
     
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  3. Simon Davis

    Simon Davis Registered

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    We must not waste our time into different type thing, instead we should seek for a broker of high quality. And that is all that matters. Thankfully, I have FXGiants, one of the leading companies out there with having excellent structure and features to make you fall in love with it.

    While there are extra stuff like market analysis, educational guides and all that to help with working and allows on to be able to trade rather smoothly and easily.
     
    Forextamil likes this.

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