Tradelocus

Bitcoin hits 93k and some of my students are now regretting selling theirs at 77k that’s FOMO. It’s essential to have a policy guiding your actions in the market, otherwise there’s a high chance you will lose everything you have made and including your capital in the future. From the look of things market is still in a phase of irrational euphoria.

I stumbled upon something worrisome recently on how trading platforms differs, offering variety of accounts to retail traders especially.

1.know your broker and the account which you trade. A broker can offer you Market making or Ecn account.

2. Each account determines your profitability when it comes to trading cost and swap.

3. Know the account that offers tightest spread and low commission, in some accounts commission are fixed.

Do not be happy when a broker offers you a low spread account with no commission, it might be a brokerage services from market makers.

You will have to pay for the cost, ECN still remains the best. ECN gives you the opportunity to trade in the real market unlike market makers.

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