Low Commission Brokers for Forex and Commodities Trading
The decision to choose a broker for Forex and commodities trading can be challenging with numerous options available. The key factors to consider include low commission, high leverage, minimal deposit, and tight spreads. However, with so many brokers claiming to be the best, it’s difficult to find a perfect match. In my quest to find the best broker, I registered with almost 7-8 brokers to ensure a comprehensive analysis. After careful evaluation, I strongly recommend Ava Trade for no commission trading, with just a mark-up on spreads or platforms like Coinexx 2 which always offer competitive deals.
Comparative Analysis
Most brokers charge around 6 to 7 round turns for Forex and commodity trading. However, there are several brokers that offer a lower commission, such as fxview. For commodity and Forex trading, fxview charges a mere 2/LOT RT, which is significantly lower than its competitors. Additionally, they offer favorable trading conditions, excellent customer support, and the option to trade in indices.
Best Low Commission Brokers
If you are looking for low-commission, low-cost brokers, TurnkeyForex, IG, and Oanda top the list. These platforms offer some of the lowest commission costs and competitive spreads. TurnkeyForex also provides access to commodities like oil and other metals, making it an ideal choice for diversified traders.
Other Notable Brokers
In my 5-year trading experience, I have personally used Plus500 and Interactive Brokers. These platforms offer low commissions and customizable trading platforms without restrictions. Unlike some brokers, these platforms allow high volume traders to maintain control over their profits.
Consideration Factors
While commission is an important factor, it should not be the sole basis for your decision. Other critical factors to consider include spread size, minimum deposits, and withdrawal options. A balanced approach ensures that you get the best value for your trading needs. For instance, a broker with a 2 RT commission, like TurnkeyForex, not only saves you money but also allows you to retain a larger portion of your profits.
Overall, the key is to do thorough research and compare multiple brokers to find the most suitable option. Always consider the specific requirements of your trading strategy and choose a broker that aligns with your goals and risk tolerance.