Fees and Expenses
If you are an individual forex trader, you may feel like you are at a disadvantage compared to the professionals with their fancy degrees, slick suits, and bulging bank accounts. But fear not, my fellow amateur traders, because there is one thing that you have over the pros: less fees and expenses. That is right, while the institutional players are busy paying for their expensive office space and gourmet coffee, you are free to trade with minimal overhead.
Firstly, trading fees can eat into profits quickly, especially when making numerous trades. Even though professional traders may have access to discounted fees, these can still add up significantly over time. Retail clients, on the other hand, are free to make trades without worrying about excessive fees. This allows them to make more trades and potentially earn more profits.
Meanwhile, pros may be bound by their firm's policies and procedures, which can limit their ability to take risks and explore new opportunities, retail clients can implement their own strategies without worrying about the consequences of deviating from the norm.
And one more thing: having less fees and expenses means more profits in one's pocket.
As a retail client, you have a myriad of ways to maximise your earnings and grow your portfolio faster than professional traders who may be bogged down by excessive expenses.
One of the most important steps on this journey to success is choosing the right broker. Traditional brokers charge high fees and commissions for their services that can eat into your budget. At Global Prime, our mission is to make world class trading accessible to everyone by providing razor-thin spreads and no hidden costs. That means that you, as an individual trader, can keep even more of your profits and trade more frequently without incurring excessive costs.