ECN Broker Survey Reveals Shocking Differences in Commissions

LONDON - July 31, 2013 - PRLog -- Forex trading comparison service ForexBrokersAZ.com advises Forex traders with an interest in ECN brokers to compare commissions carefully between opening an account.

A survey of 20 leading Forex brokers by ForexBrokersAZ.com reveals that some brokers charge over 50 times more than others for the same level of service. An investor trading just 1 lot with a rogue broker would effectively pay $120 in commissions across certain currency pairs. This compares to just $1.8 with the best value broker in our panel *. An investor trading 10 lots a month would be $1,182 worse off as a result.

Matt Taylor, Director of ForexBrokersAZ.com, says: “Most true ECN brokers charge 0 pips so you need to compare commissions across brokers to get a fair idea of the true cost of trading currencies online.”

“However, ECN commissions can change depending on your trading volume, equity or net deposits. Furthermore, we’ve seen a small number of brokers go out of their way to hide commissions under obscure names.”

To help traders compare ECN commissions across brokers, ForexBrokersAZ.com has created an interactive chart with traders in mind. See how commissions change with trading volumes and net deposits before chosing your next Forex broker: http://forexbrokersaz.com/uk/all-forex-brokers/best-ecn-brokers/

For an in depth comparison of trading conditions, platforms and markets across ECN brokers, traders may find this guide of interest: http://forexbrokersaz.com/uk/all-forex-brokers/ecn-broker-list/

---ENDS---

(*) Note to editors:

The $1.80 commission per lot is available from the best value broker in our panel to traders with account equity or net deposits at or above US$ 50k. The commission would otherwise rise to $3.50 per lot for traders with account equity or net deposits under US$ 50k. Note that pricing is accurate at the time of writing but may change over time.

About ForexBrokersAZ.com:

ForexBrokersAZ.com is an independent comparison service for Forex traders. We compare brokers down to the account level, helping traders find an account that ticks all the boxes. Compare spreads, leverage, trading conditions and bonuses in one place on http://forexbrokersaz.com