Best No-Commission Brokers
The FX world is split into two general types of broker, market makers ECNs, and each has a different pricing structure. The former will make money from traders based on spreads, while the latter will charge small amounts of commission.
For many people market makers are a much savvier trading option which is why fxbrokersearch.com has compiled a list of the best non-commission brokers.
In general a market maker will make money through spreads which are based on the bid price and the asking price of a particular currency pair. Essentially, these brokers will set an exchange rate on the market and allow traders to purchase that currency at a slightly different rate.
This gap between the market price and the buy price is known as the spread and measured in pips.
In contrast, an ECN broker will draw its prices from a range of sources and because they aren’t in charge of setting the prices they don’t need to rely as heavily on spreads.
Instead an ECN broker will charge a small amount of commission on each trade in order to generate a profit.
Spread versus commission in trading?
Typical commission charges usually range from $2-$3 per round lot traded and are collected at the point of sale.
At fxBrokerSearch.com we realise that both market makers and ECN brokers offer different benefits and that traders have different preferences when it comes to investing their money.
For this reason we’ve divided our database of more than 200 sites into commission and no commission Forex brokers.
Collating them into one easy-to-read platform, our list of non-commission FX brokers allows users to see exactly how many pips a site will charge on each trade, as well all the other trading conditions they offer. Indeed, while some traders will desire low leverage and tight spreads, others will be more focused on small deposit limits and the amount of currency pairs on offer.
No matter what your preferences are, fxBrokerSearch.com has got every angle covered when it comes to no commission Forex brokers. Regardless of whether someone is an expert or a novice, our objective reviews will ensure they find the most profitable virtual platform for their needs.