Trading Cost Problems

The execution speed is fast, but the issue is their commission, which can be confusing. They say they charge $5 for trading the US30. Normally, 1 lot on US30 earns $100 for every 10 pips.

However, they actually charge 50 cents for every 0.01 you trade. So, for 0.10 (which should be $10 per 10 pips), they charge $5. This should be only 5 cents. Even though it's listed as 0.10, it behaves like 0.01, earning only $1 per 10 pips. Despite this, they charge $5 for the commission. So for a standard 1 lot on US30, they're taking $50 but claim it's only $5.

This can be misleading and feels like they're not being honest with their charges. When you bring this up with them, they apologize but say there's nothing they can do. Their advice is to avoid trading indices altogether.

The margin often changes and this is a huge issue for me. One time I notice that the margin change from 0.25% to 2%. This has caused me to miscalculate all of my trading costs. I keep a detailed trading journal, something like this truly throws away all of my plans.

This is a very good broker and I know that from the get-go. Even in the beginning, they feel very professional and non-gimmicky. I like that about a broker, it feels very honest and realistic. This is exactly what you should look for in a broker. They aren't that cheap if I have to be honest.

This is why I conclude that this isn't a beginner-friendly broker. Not to mention, I think this broker is very lacking in the educational department. That is such a shame because I think even a professional needs good learning materials. So, I hope they can be better in this part. Overall, I think I should give them a 3 out of 5 rating.