[Newbie] Broker selection: Saxo VS IB (I have <100k in stocks)
Apologies if this question has been asked a million times but was wondering, for those who switch from Saxo > IB or are considering the 2 what were some of your considerations. I am a beginner investor so I do not trade so many times a year. I started trading this year and will likely trade about 3/4 times a year, 5-15k lump sum to 1 ETF every time. I know much of the praise for IB is the reduced fees (trading fee + forex), however after reading multiple websites and it says that IB is only good for - Frequent trades - > $100K portfolio For forex costs I’ve opened a subaccount in SAXO and would be putting in the foreign currency via Transferwise I am planning to sell all and move to IB when I hit 100k. (i think it would take a few years) is this wise? I am wondering for those who have shifted from Saxo > IB or decided to start with IB what were your decision-making criterias?
I’m 18 and want to start Forex. What mistake will I have to avoid at all cost?
I’m 18, currently going to follow Economics in university and want to learn and trade Forex as a side income. The knowledge I gain from uni will benefit me in my trading while trading will bring me adequate money for my study (I live in Vietnam so the money I can potentially make in Forex is gonna be huge enough). I intend to start with a deposit of 300$ and build it up slowly while working a part-time job beside studying and pour 50% of that money into Forex (my parents still support me financially until I finish uni so that’s a plus). Is there anything that I should know before actually trading, since Forex is a high risk - high reward way to make money? I don’t want to burn my hard-earned money due to my ignorance.
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The cost of trading forex What is the cost of trading forex? The cost of trading is the overall expense that a forex trader has to incur in order to run their trading business. There are optional costs for things that the trader may wish to purchase, such as news services, custom technical analysis services and faster connections, and compulsory costs, which are expenses that every trader must ... Forex Trading Costs. Typically, while trading currencies on the forex market, the investor does not have to worry about costs stemming from trading commissions. That having been said, there are costs associated with forex trading that the prudent investor should keep track of. Every Forex broker charges fees in one form or another and there are trading costs associated with each trade placed. Many traders often ignore the total cost per trade which can make a big difference to the overall outcome of a portfolio. *Includes all valid trade and orders requests, excluding those entered on the MetaTrader platform. FOREX.com's execution statistics represent orders executed on FOREX.com's suite of trading platforms during market hours between April 30, 2020 5:00 pm ET and May 31, 2020 5:00 pm ET for FOREX.com's US entity only, excluding trades/orders entered on the MetaTrader platform. The Forex Trading costs are depending on the broker. The Forex Trading Broker determines the fees that a trader must pay when opening a position. There are cheap and expensive providers. The costs have a decisive effect on a trader’s profits. The cheaper the fees are, the higher your profit will logically be.
Lesson 1 - What is Forex and how does It work? - YouTube
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![[NG] - Forex: Cost of funds hits 200% in interbank market](https://b.thumbs.redditmedia.com/10prRu3kKpVLxPkLfwllV1O96hjRfP_1lvcyExEP5Wo.jpg "[NG] - Forex: Cost of funds hits 200% in interbank market")
