@masters
I just tried the cTrader IC Market demo account. I noticed the spread is very small, only 0.1 pips for EURUSD, which is very different from my broker that uses a spread of 1.5-1.7 pips for EURUSD.
Then I tried to enter a sell of 0.1 lot with a target of 10 pips by looking at the indicator from MT5 because in cTrader I can't create indicators or helper lines. After 5 minutes, the TP was hit but the profit was 9.44 USD, with a commission deduction of 0.66 USD. This means that for each 1 lot, a commission of 6.6 USD is charged. It's quite cheap, but the facilities in cTrader are very minimal, there are no indicators, only a free autoChartist signal which is decent, and trailing stop is also available in cTrader. The question is, masters, which is better to use, a normal spread account or a zero spread account but with commissions? The problem is I have searched for the commission table on the IC Market website but couldn't find it. There is one page that states a commission of 3.5 USD/lot, but it doesn't explain for which pairs? I used the EURUSD pair, so why did I get 6.6 USD/lot? Thank you, masters, for your responses and answers that are truly awesome.
@ Adzril Rafif Alfarezi:
- …. which is better to use a normal spread account or a zero spread account but with a commission …
It depends on your trading style, whether you want to trade by scalping, daily trading, or want to trade medium to long term.
If trading by scalping, spread does matter because the targeted profit (TP) is generally small. As for daily or medium to long term trading, the influence of the spread is not so significant, the important thing is that your position is correct.
Read also: Which Trader Type Do You Belong To?
For scalping, choose a broker that offers the lowest possible spread. Regarding the transaction commission, it needs to be calculated whether it is still worth the profit obtained. In my opinion, it is better to choose a broker that does not charge a commission.