In this episode, we talk about choosing a broker.
This chat considers the following:
- Full service versus discount.
- Commissions rates.
- Data fees.
- Other fees.
- Access to software.
- Access to data.
- Access to markets.
Questions to consider or ask a potential broker:
- Do you have day discounted day trading markets? Do they change the commissions you pay?
- Do you support exchange traded spreads and spread margins? Examples: calendar spreads NoB, FyT, ZW-KW and
- If I have an account in two currencies, one negative and one positive (but net positive overall), am I charged a fee on the negative balance?
- (If trading options) do you charge round turn upfront for short options? Or do you charge for expiring options?
- Are there other fees I need to know about?
- Is there a package deal on data? For example, is there a US futures package or a worldwide future package?
- Can I keep funds in one currency and trade in another without extra fees or penalty?
Discount Course Code: For those not yet enrolled in the DOM Scalping Course, use the code TradingWithGB here:
Or receive a bigger discount on the DOM Scalpers and Spreaders combo here: