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Compare Forex Brokers Launches Spreads + Commission Cost Calculator For Forex Traders

·2 min read

CompareForexBrokers wish to announce the launch of a tool that helps forex traders calculate their spread costs for ECN/STP style accounts so they can compare trading costs between brokers.

MELBOURNE, AUSTRALIA / ACCESSWIRE / November 15, 2021 / The Compare Forex Team is excited to launch a tool that will be of great value to forex traders wanting to compare costs between brokers. The new tool which we are calling the Spreads + Commission Costs Calculator calculates the spread and commission cost for ECN/STP style accounts of different forex brokers.

Justin Grossbard, founder of CompareForexBrokers.com decided to create this tool as his readers were writing to him in frustration as they could neither work out the costs brokers were charging or compare these costs with different brokers. Realising there was nothing similar on the web, Justin made it his mission to find a way to help his readers visualise and compare their trading costs. Justin explains that trading costs are an important consideration when choosing a broker; "while you cannot control how the market moves, you can control which broker you choose so you can save a lot by choosing a broker with low trading cost".

The Spreads + Commissions Costs Calculator is designed for ECN or STP style forex trading accounts which have commission costs that need to be paid in addition to the spread. The tool takes the average spread costs for a range of brokers and then adds the commission costs to come up with a final trading cost to open your position. Users can choose from 7 different currency pairs including the EUR/USD, AUD/USD or EUR/GBP. Once you choose the currency pair, you need to choose from 1 of 4 base currencies (USD, EUR, GBP, AUD) and a trade size (10,000 to 100,000). The tool then does its calculation to come up with a trading cost along with a breakdown of the cost components.

About CompareForexBrokers

Compare Forex Brokers is the oldest forex broker comparison website in Australia, that has quickly grown to serve markets right across the globe including the UK, UAE, South Africa, Singapore, Canada and the USA. The website frequently releases in-depth reviews about forex brokers that looks at all the key features forex traders will want to know about the broker such as trading accounts, trading costs, trading platforms, CFD products and risk management tools. In addition to broker review, CompareForexBroker also does broker comparison which compares features of different brokers and some forex trading educational content.

The forex broker comparison website was founded in 2014 by Justin Grossbard and Noam Korbl who noticed a lack of quality information about forex brokers and wanted to find a way their readers can compare between different brokers when choosing a broker.

Contact Information

Justin Grossbard
Founder and CEO, CompareForexBrokers
Email: Justin@compareforexbrokers.com
www.compareforexbrokers.com

SOURCE: CompareForexBrokers



View source version on accesswire.com:
https://www.accesswire.com/672318/Compare-Forex-Brokers-Launches-Spreads-Commission-Cost-Calculator-For-Forex-Traders