Please excuse my ignorance...
I am currently testing a strategy that I have build in MT4, and it seems to be very profitable in back testing and also looks pretty good in demo account testing.
I am pretty close to opening a real account and making a deposit to beginning live trading, but the costs of trading make me a little concerned that I may not make any profits once the trading costs take effect.
I'm currently using SunbirdFX, and I see that they charge a commission of $5.50 per lot. They also apply a spread to their currency pairs.
Am I correct in assuming that this is a double charge for the trades? Or have I got it all wrong?
Based on minimum deposit and reliability, what other trading sites can you recommend that you use?
look at the commission details: if you see $5.50 per SIDE then they will charge $11, which is quite high. You can see this instantly when you open a trade in the demo account. Usually the spreads are much lower with commission, instead of 2..4 pips it is between 0 and 0.5 pips.