WWW.DAILY20PIP.COM

[CraigFX]

North Finance reduced spreads today, hopefully others will follow

Today and further on a constant basis spreads for following currency pairs will be reduced:

AUDCAD - from 12 to 8 points, AUDNZD - from 15 to 12 points, AUDUSD – from 4 to 3 points, CADCHF – from 10 to 8 points, CHFJPY – from 5 to 4 points, CHFSGD – from 15 to 10 points, EURCHF – from 4 to 2 points, EURCCK – from 70 to 50 points, EURGBP – from 3 to 2 points, EURHUF – from 70 to 50 points, EURJPY – from 5 to 3 points, EURPLN – from 80 to 60 points, GBPCHF – from 8 to 7 points, GBPJPY – from 8 to 7 points, GBPUSD – from 4 to 3 points, NZDCAD – from 15 to 10 points, NZDCHF – from 15 to 10 points, NZDJPY – from 15 to 10 points, NZDSGD – from 20 to 15 points, USDCAD – from 4 to 3 points, USDCHF – from 4 to 3 points, USDCCK – from 70 to 50 points, USDDKK – from 50 to 30 points, USDHUF – from 60 to 40 points, USDJPY – from 3 to 2 points, USDPLN – from 80 to 60 points, USDSGD – from 10 to 8 points.

2. Today and further on a constant basis all Futures CFD will be available for trading with minimal “floating” spreads and 15 USD commission per 1 lot for opening a new position. Commission will be charged only for newly open positions since 24.09.2007.

Please find more detailed information at Website of the Company in FOREX and CFD Contracts Specification.

Our Best Regards.

[coffeemug]

thx for the info,
its nice that they reduced the pips, but they also add commission, which previously they don't.

In my understanding commission is applied regardless if we win or lose, is that correct? so in general, when we entered a trade, we have -$15 and -X pips as spread.
can anybody confirm this please?

if my understanding is correct then I don't know bout you guys, but in my current mini account condition, I still prefer broker with no commission, even though their spread is 4 instead of 3.

[mrkam]

As I read my email from NF, the "commission" noted applied to the Futures CFD, stocks, metals instruments, and not to Forex.. I think they simply reduced the spreads, and that is it, but will look into it more... in fact, just checked, their website clearly states "no commissions", which I have a beef with in general, but technically, there are no commissions, just spreads... then to be extra sure!!, I checked my platform commissions column for the four trades I took on this morning (different system, not D20p family), and there are no commissions for those trades.

As far as spreads vs. commissions... we pay BOTH of them whether we win or lose. I know MT4 takes buy spreads into with your stops/limits, but I don't know if it includes "commissions", so there may be a difference there, but it doesn't matter with NF if they do not charge a commission.

Usually, commissions on forex come in with an ECN broker, (see MBTrading, they have a reduced spread AND a commission) who gives you direct access to the banking system. It that case you pay a reduced spread which goes directly to the banks, and a commission, which goes to the broker. In a MT4 bucket shop, you pay all your commission to the broker, then they settle with the banks at the end of the day to balance their trades, and pay the bank spreads then...