Understand your broker’s prices and business model before sending them your money. Ask these questions — and consider the answers carefully — to know if the broker you are considering is the right one for you.
1. How often are advertised spreads available? (You can only confirm your broker’s prices if you can see their published spreads.) Can you see a record of recent spreads to confirm their spreads are what they advertise and if they apply to you? You need to see the typical spreads for all currency pairs your broker offers—not just for the more popular major pairs. If you want to trade the less popular currencies, you shouldn’t have to pay extra in the form of wider spreads just to subsidize the lower spreads for the advertised currency pairs. “Loss-leader” pricing has no place in forex markets. We're is committed to offering the lowest spreads possible, at all times. To be absolutely open and clear about your trading costs, we publish our realtime tradable spreads for all traded currency pairs online, for everyone to see. We also publish a weekly record of the previous seven days worth of spreads so everyone can audit our historical spread data.Our trading platform refreshes spread data tick by tick, so you can see price fluctuations in real time and adapt your strategy to fit market conditions. 2. Do special conditions or restrictions apply? ask uBanker (Brokers can be equally reluctant to offer their lowest spreads for larger ticket sizes.) The only way to truly test quality of execution is to try the real thing, so such restrictions may make it prohibitively expensive to test their platforms. We give all traders the same spreads,without restriction. There are no minimum balance requirements, and spreads are the same whether the ticket size is $1.00 or $10 million—or anything in between. Make your trades as granular or fragmented as you need. Pursue trading or hedging strategies without worrying about lot sizes or laddered pricing.
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