Oil lost 10% the last few days, nevertheless Trichet is right when he fears second round inflation with payrolls, because where I work most employees have got a 10% raise over the last months. And workers are still whinging about cost of living.
I haven't traded much this week , I made something like twenty pips, no more. Actually I made much better results on a demo account . I have been testing the platform of a bank that made recently a new offer for fx traders.
I have usually 3 brokers with three different base currencies to hedge somewhat my total exposure. I am constantly looking for a lower spread, maximum funds security and best execution.
A low spread means a maximum of two pips. A 3 pips spread on eur-usd is not acceptable anymore . Going from 3 pips to 2 pips is a 33% cost reduction which is huge.
If you plan to make 100 trades with 1 lot and a 3 pips spread, you have to realize that you start with a 3000 usd loss. In any case, I prefer paying a 0.5-1 pips spread plus commissions rather than paying a full fixed spread. Do the math.
I only know Dukascopy with the lowest spreads. Are there any other brokers who offer spreads as low as them?
ResponderEliminarInteractive Brokers and Hotspot have very low spreads.
ResponderEliminarYou could look for 'ECN brokers' with Google.