Quote:
Originally Posted by MBT_Justin
Typically spread for both of these pairs is about 4-5 pips, plus you'll have a commission of $3.00 - $4.00 per 100k traded on either of these pairs.
Commission Math
AUD/JPY - Exotic: US dollar is available as cross currency (AUD/JPY)
Use AUD/USD's current rate at the time the position is opened for AUD/JPY, keeping in mind that with an exotic, we reference the base currency's relationship to the US Dollar:
Formula: Deal Size X Deal Rate of AUD/USD X 0.00005
100,000 currency (1 lot) x $.7190 (AUD/USD rate)
$71,900 x $.00005 = $3.60
So average cost $3.60 + 4-5 pip spread.
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That's sexy. Me likes. That would be a significant cost savings for me over the span of a year. Competitive with IB, and I can dig that over the standard MT4 brokers. It's too bad you caught me at the start of the year, I had already completed my funding by December as I wanted to start 2009 running. I'm pretty sure my next account will be yours though.