Well Yea, This Is A Given
Once a house breaks the trust you thought you had, the first
step obviously is to find a new place to trade. I could bore you with the
details, but after 3 days of due diligence, I am transferring some trading
funds to Assets FX Trading. Here is the web link:
My two main criteria are 1) safety and segregation of funds,
and 2) very low spreads, and I’m satisfied both are met here. This is a 10 year
old Finnish trading firm specializing in EA’s and scalping, although all
trading models are welcome. This is a pure ECN, DMA, and STP brokerage house;
never any re-quotes, no freeze zones, and no minimum distance for stops. This
is institutional grade liquidity on the MT4 trading platform with the lowest
spreads I have seen for non-dollar crosses available to retail accounts.
They offer high leverage [if you want it], low opening
account balance, and they accept U.S. clients.
Since you basically have institutional access to the
inter-bank market, there is a commission on each round turn trade; $2.60 per
100,000 base unit of currency. This is 2.6 tenths of a pip; Whoopee whoop whoop!!
Here are some sample spreads I observed today:
GBPAUD 2.3 PIPS
GBPUSD 0.7 PIPS
AUDUSD 0.6 PIPS
EURAUD 1.7 PIPS
EURUSD 0.5 PIPS
USDJPY 0.2 PIPS
EURJPY 0.5 PIPS
GBPJPY 1.1 PIPS
Now, these spreads aren’t “low-ball”, they
are common throughout the European and U.S. trading sessions. In the Asian
session, GBPAUD and GBPJPY averaged about 0.3 – 0.5 PIPS more, but the other
pairs listed here remained about the same. Of course, there are another 50+
pairs you can trade, and I invite you to find the pair that is most appealing
to you.
I got to admit, looking at that EURJPY spread has my
eyes watering.
If you traded EURJPY only 2 times [round turn] each trading
day, and traded a 1 lot [100,000 base currency], your fees [including the
spread] would be $15.20. If you did the same trades at another house [like
Forex-Metal for instance] with a 3 PIP spread and no commission, your fees
would be $60.
That’s a $44.80 difference over approximately 240 trading
days in a year; a savings of – are you ready? - $ 10,752 per year!
That’s a lot of $$ moola $$ to
be shoveling to a brokerage house for nothing!
And that’s just with 2 lots! Imagine
if you did 5 lots?
I would expect and encourage you to visit the website and
get on chat if you have any questions; live chat runs from 07:00 – 22:00 server
time.
This is the first piece of the equation; I’m in the
finalizing part of getting vendor service for signals and I’ll have more on
that in the next couple of posts.
Have a great day everyone.
-vegas
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