As we mentioned in the beginning of this report, finding a good broker is only half the battle. You also need to minimize your transaction costs. Make sure to watch this short video by clicking the play button below. You'll learn a well hidden secret that can really change the way you trade!
Looking back on the example from the beginning of this report, you can really see how much these transaction costs will add up. Remember based on our analysis an average trader will have to make up 36% per year of transaction costs just to break even! Needless to say, that's not an easy tasků
Now, as you know it's of the utmost important to trade with a large and reputable clearing firm. But keeping your spreads low is also vital to your success.
Some firms may advertise a very low spread structure. However, because the firms could be low level bucket shops, they may be either: placing your trades off market, messing with your execution, or not allowing you to withdraw your profits in a timely fashion. Bigger and more stable firms, with better service, may not always be the cheapest; however their customer service, execution, and platforms will be far superior to low level bucket shops. So what do you do?...
Luckily there is a way to trade with a large and reputable broker and minimize your transaction cost by getting a volume rebate from your IB such as TradersChoiceFX.
By working with TradersChoiceFX, you'll get the best of both worlds! A strong Forex broker with the TradersChoiceFX bonus rebate program can really give you a much needed edge on the market.
Forex trading involves significant risk of loss and is not suitable for all investors. While you can earn a cash bonus,
you can also lose money due to the inherent risk of trading. Read full disclosure.
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