The Broker FX View in a Few Words
FXView is a well-known and highly regarded broker with a reputation for providing some of the tightest spreads and most affordable commissions in the forex market. Traders who want to cut their trading expenses and increase potential profits will find this particularly appealing. FXView provides traders with a wide selection of instruments in addition to competitive pricing, which can aid in portfolio diversification and possibly reduce some of the inherent risks associated with trading. In addition, the company offers many tools and resources that can benefit both experienced and novice forex traders. These tools and resources can include books, market research, and trading platforms with cutting-edge features that can assist traders in making well-informed decisions and confidently executing trades. Anyone looking to trade forex or other financial instruments should seriously consider FXView because it appears to be a trustworthy and reputable broker.
Type of Accounts and Offering
The RAW “ECN” account type, which stands for “no markup added” in the spreads received from liquidity providers, is a type that the FX view offers. This indicates that instead of marking up the spreads, the broker assesses a commission in the account based on the volume traded. Even though brokers frequently use the term “ECN” in their marketing materials, this account type may not accurately represent what an ECN account is.
FXView offers a vast selection of instruments, such as forex pairs, commodities, indices, and stocks, in addition to a very high leverage of up to 1:500 on these instruments. This is higher than what is typically offered by other brokers on non-FX pairs. It’s crucial for traders to carefully consider their risk tolerance and management strategies when using high leverage because it can increase potential profits and losses.
Available Platforms, Tools, and Learning material
FXview offers a range of platforms for traders, including the popular MT4 and MT5 platforms, which are suitable for both experienced and beginner traders due to the large community and abundance of online tutorials. The ActTrader platform is another option offered by FXview, known for its user-friendliness and customization options. FXview also provides REST API and FIX API integration for traders using trading algorithms.
In addition to these platforms, FXview offers a wide range of tools to help traders improve their strategies, such as the Tick trader analysis, Correlation Trader, and integration with Excel for MT4/5. These tools can be helpful for traders looking to fine-tune their strategies and gain a deeper understanding of the markets. FXview also offers a variety of tutorials and webinars to help traders learn more about their platforms and tools. FXview provides a comprehensive range of options and resources for traders of all experience levels.
Cost of Trading
For any trader, trading expenses are crucial because they have a significant impact on overall profitability. Although brokers frequently charge a commission for each trade, traders should be aware of additional costs associated with trading. Trading participants might also pay added spreads and expensive swap fees in addition to the commission.
When a trader keeps a position overnight, swap fees—also called rollover fees—are charged. Based on the interest rates of the currencies being traded, these charges are calculated. They are typically determined by subtracting the overnight interest rate of the short currency from the overnight interest rate of the long currency. For traders who hold positions for a long time, swap charges can add up and become a significant expense.
Another significant expense to keep in mind when trading is the spread. The spread is the discrepancy between a currency pair’s ask and bid prices. Spreads significantly impact the overall cost of a trade even though they can vary greatly depending on the broker and the currency pair being traded. Because the trader will have to pay more to buy at the asking price and receive less when selling at the bid price, a wide spread, for instance, can make entering and exiting a trade more expensive. The spread may occasionally cost more than the commission for traders who trade frequently.
Finally, traders should be aware of all the expenses related to trading, such as commission, swap fees, and spread. By comprehending these expenses, traders can more accurately calculate the total cost of their trades and decide on their trading tactics.
Please find below a comparison of the FXView Raw “ECN” account’s cost of trading with other brokers:
Except for XAUUSD, FXview provides spreads on major pairs that are highly competitive. This means that by using FXview, traders may significantly reduce their trading expenses. It is challenging to come up with an excuse not to open an account with FXview, especially when you consider the broker’s competitive commission rates, which are among the lowest that we have seen. Due to its advantageous trading conditions, FXview is a desirable choice for investors looking to cut expenses and increase returns. It’s important for traders to carefully consider all of the costs associated with trading and select a broker that provides a combination of competitive spreads and low commission fees because spreads can change depending on market conditions and other factors.
