Just Follow These Three Simple Rules.
Saving the cost of FX trading is very important.
But How? and How does that make differences between FX brokers?
1 Lot, 100,000 Units, 1 pip…
The standard investment volume is “1 lot” for FX retail traders.
1 lot equals to 100,000 units(USD, EUR, GBP or any currencies).
Now, the spread(the main trading cost) is normally counted with “pips”.
For example, if the market price of USDJPY goes from 100.000 to 100.010, then the price moves for 1 pip.
Trading Cost is calculated as…
If you trade 1 lot worth of a position when the spread is 1.0 pip, the trading cost would be 10 units(USD, EUR or any currencies depending on the FX pair).
Now, the standard spread of FX brokers are from 0.0 – 5.0 pip.
If we calculate extremely, there can be 50 dollars of difference of commissions for every single trade depending on the brokers.
So the point is:
You can save a lot of money by choosing the broker with tighter spread even the difference is only 0.1 pip.
Tradeview with real spread 0.0 pip
Tradeview, an Online FX & CFD broker in NY, offers the spread of 0.0 pip as average.
Please refer to the below GIF.
The extra trading commission is only $10 per 1 lot. So if you trade with Tradeview, you may need to consider that is the total cost for trading.
The condition is suited for Scalping traders.
Actually, the condition is suited for any types of traders, because Tradeview does not restrict any kinds of trading methods on the platform.
You can trade through News Time, use EAs or do hedging. With Tradeview, you can do whatever you want to do to make profits for yourself!
Signup for Free with Tradeview, and start experiencing the difference!