FOREX: Is there a trading platform/ site where to pay a flat fee for every trade/ transaction you make?
Last Updated on Saturday, 20 December 2008 10:13 Written by Gary.L Friday, 19 December 2008 01:43
cyruswendydevo asked:
For example, instead of buying a currency and being hit with a “pip” charge, is there a site that charges a flat rate per trade (like how ameritarde would operate)?
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Tags: Forex Trading, Pip, Trading Platform
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Forex sites do not charge fees. It is a dealer market. The person on the other side makes his money on the spread between the bid and the ask. When you are trading stocks through Ameritrade they are acting as a broker, not a dealer. They are charging you a commission to take your trade to the market. The stock market also has a bid/ask spread which costs you on every trade and is not included in the commission.
Don’t take this the wrong way, but you don’t seem to know much about forex and shouldn’t be trading because you’ll get creamed.
Hi,
I have been trading for nearly 3 years. I would recommend Etoro, very innovative platform which makes your trading very easy to understand truly unlike any other platform you have ever seen, I guarantee it. They also have some of the smallest spreads I ‘ve seen – 2 pips. They have free unlimited demo accounts and you can compete for cash prizes with your demo account. The USA version is here: