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    In the process of setting up an account. Any warning signs not to use them?

  • #2
    Originally posted by DrTom View Post
    In the process of setting up an account. Any warning signs not to use them?
    I don't trade with them, but I've only heard good things from other traders.
    Click here to check out the most popular forex channel on YouTube

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    • #3
      They're OK. But if you tend to keep trades for days (or worse) then be prepared for some of the worst swap rates around. Seriously.

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      • #4
        Is that relevant? No, not joking - how bad are they in comparison? I generally trade "half day more or less absolute max", most trades being significantly shorter.

        According to https://www.myfxbook.com/forex-broker-swaps/lmax/424 it is not that bad - in fact I have a lot of them in green (i.e. LMAX seems better). Please quantify the "worst in the industry".

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        • #5
          If it's relevant depends on your trading style of course. Looked briefly at your link and unless I'm reading it wrong it just confirms what I mentioned:

          Short swaps
          64 brokers better than LMAX
          9 brokers worse than LMAX

          Long swaps
          70 brokers better than LMAX
          3 (yes, three) brokers worse than LMAX

          Admittedly it was for AUDCAD pair, noticed that only after I made that count. EURUSD is much better but then you try GBPUSD and it's very close to AUDCAD so it's not just exotics. That's about as far as I'm going to look into it.

          If you're not holding your trades, than all is fine. I'm using LMAX, FXOpen, Tickmill, Pepperstone, Global Prime, FXPIG.

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          • #6
            And "some of the worst swaps around" is not exactly the same as "worst in industry" is it?

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