As top traders make hundreds, some even thousands of trades per day then low spreads are absolutely critical to achieve higher profitability.
Let's imagine that the same trader has also a trading account with another FX broker named BobFX and their average spread is 2 pips. So, at Armada your spread cost for 100 trades would be 100 US dollars, while at BobFX it would be 2,000 US dollars or 1,900 US dollars more. Forex trading is an extremely complicated and serious business so it is important that we make sure everything is perfect and don’t try to take short cuts or go with a company that is new or not reputed and it should be at least in market for 2-3 years as if the broker is good then it will automatically make things easier.
I trade with OctaFX only as they are the best broker to me by a distance and there is many reason for it as they are regulated, ECN and also is an 8 times award winning brokerage company which includes wards like Best broker in Asia, Europe and many different parts of the world plus they have an award for amazing ECN service.
I like to start with a broker that I could work for long term as there is no point in starting with a company that will benefit me for short term as Forex business is done with long term mindset so we have to stick to that and only then we could be successful.
A good broker will give the best for traders to make them feel comfortable and satisfied with broker.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. It can be said that it is a simple method of trading, as there is no need to deal with margin requirement.It does not decide an entry point and exit point. Another advantage of binary options trading over traditional trading is the chances of high returns at the end of the contract. Binary options trading is simpler than on-spot forex trading or any other types of conventional tradings. Binary is less risky in comparison to other types of trading as percentage of reward and loss is already laid out at the time of making the contract. Since binary trading is about the direction of the market shift, it is important that a little shift in it can help make a large profit on a small amount.
Just to see a True trade execution, I also took the same trade at the same time at the same currency pair on a demo account and I have not got any slippage on my demo Forex trading account. We also make sure that broker give convenient service for us so we can feel comfort when trading. I trust TICKMILL to invest my money, i get the best trading conditions, they offer the lowest spread ever i got, besides that, i also get fast order execution, it's very comfortable for scalping.
One of the biggest advantages of binary options trading is that it carries less amount of risk than forex spot trading.
Binary trading platforms and brokers create a scenario with the prospective of a large return on investment and that too within short period of time. If you make 100 trades with the size of 1 lot each then your spread cost with us would be 100 * 1 USD = 100 US dollars.
As he made 100 trades then the total spread cost for him would be 100 * 20 USD = 2,000 US dollars.
We can find a good forex broker recommendations from various sources, but it is better to try the performance of the server with the usual a demo account. On the contrary, forex spot trading with no set stop-loss feature results in huge loss at the end of the contract. With option trade, the profit or reward is pre decided through the broker or trading platform, however all this while, a trader just has to predict the movement of asset before the expiration of contract.
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