Because of the unique manner in which forex trades, it’s not always a fair game for everybody. In the equity world, even if brokerage A sends millions of shares per day to an exchange, they are no more or less likely to get a better price than brokerage B, which does half the volume.
However, that’s not the case in the forex arena. Because Interbank members are essentially free to set their own prices, the brokerages that provide Interbank firms with the most business are the ones that will get the best prices. This adds another layer of complexity to trading forex.
The forex boom has created dozens of new brokers, all of whom might be charging different prices. Unfortunately, other than doing a great deal of research, there is no good way to determine which brokerage is cheapest.
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