How to Distinguish Trading Fees Finex Vs Didimax – Kuri007.com
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Kuri007.com – How to Distinguish Trading Fees Finex Vs Didimax. Finex futures and Didimax claim to provide low cost trading and good service. How is it real?
When looking for a forex broker in Indonesia, we are often confused because of the many choices. However, we can determine the best broker by looking at the trading fees charged to customers.
There are several well-known and trusted local brokers, such as Finex futures and Didimax. Both of these brokers claim to be able to provide trading with low fees and good service.
What are the trading fees to consider?
In the past, only people with large capital could trade Forex. But now, people with limited capital such as employees, students, and even freelancers can also participate.
This is thanks to forex brokers that facilitate traders with small capital to participate in trading. However, brokers certainly don’t provide trading services for free, because they charge trading fees to customers every time they make a trade.
Trading fees usually consist of commissions and/or spreads. As a trader, of course we want to choose a broker that offers low trading fees to get optimal profits.
Therefore, examining the trading fees at Finex and Didimax will allow us to better understand the characteristics of each broker.
Finex VS Didimax commission calculation
Forex Trading Commission is a fee that brokers charge their customers every time they make a transaction in the forex market. This is a fee charged in exchange for a broker’s services in facilitating forex transactions for customers.
The forex trading commission amount varies depending on the chosen broker. Some brokers may charge large commissions, while others may be lower.
In choosing a broker, customers must pay attention to the size of the trading commission to ensure maximum profit.
At Finex broker, Trading Commissions are charged depending on the account type. The lowest commission is on the mini account and the fixed spread Pro account, which is 3 USD per lot.
On the Floating Pro spread account the commission is 10 USD. For traders with an extra budget, Finex also provides a standard account with a commission of 50 USD per lot.
Finex vs Didimax Spread Calculation
Spread trading is the difference between the buying price (bid) and selling price (ask) in forex trading. Spread is one of the fees charged by brokers to customers every time they make a transaction.
The spread amount varies between brokers and the currency pairs traded. Brokers will charge spreads in return for their services in facilitating forex transactions for customers.
Spreads are generally lower for popular and liquid currency pairs, while spreads for less liquid currency pairs may be higher.
In choosing a broker, forex traders must pay attention to the amount of spread charged to ensure maximum profit potential.
Just like trading commissions, the Finex broker also applies different spreads depending on the account type. The lowest spreads at the Finex broker can be enjoyed through the Pro and Standard accounts which apply floating conditions starting from zero pips. If you choose Fixed spread, then you will have to charge extra for the spread starting at 30 pips.
It’s another case if you trade at the Didimax broker, which only provides 1 account, with floating spread characteristics starting from 1.0 pips. In terms of spreads, floating spread accounts at Finex broker are more competitive.
Extra points taking trading fees into account
Apart from spreads and commissions, a trading fee that should not be overlooked is the size of the required deposit. In the early 2000s, the Indonesian forex trading market was quite difficult to penetrate because the initial capital reached tens to hundreds of millions (minimum 10,000 USD).
Currently there are many brokers that provide forex trading facilities with an initial capital of under 10 million. The Finex brokerage mini account, for example, offers a minimum forex trade of 100 USD (about 1.5 million rupiah).
Meanwhile, the didimax broker provides a minimum deposit requirement of 10,000 USD. Apparently, the Didimax broker still follows conventional policies that are not friendly to traders with small pockets.
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