Company

Spread

for EURUSD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details
CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Price Alerts

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For Price Alerts?

scored best in our review of the top brokers for price alerts, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

Risk Control and Price Alert Features

CFDs (contracts for difference) are leveraged financial products, which means that trading them involves considerable risks. It is possible for a trader to lose the entire capital value in their account within moments. To this end, they must be aware of the intricacies of the market they are speculating on and should ensure that they have the correct risk appetite to handle the potential price swings.

Aside from this, a trader should also be equipped with the right technical tools to help them manage their risk better. These tools provide a trader with actionable information that allows them to react within the decision window, and execute transactions based on pre-configured values and with minimal supervision.

The trading platforms from most major brokerage houses provide users with tools built on sophisticated technologies, which help them to keep track of real time information and manage risks through prompt notifications and alerts.

What are price alerts and how do they work?

A price alert is a feature that sends alerts or notifications to the user when the price reaches a particular level. The feature allows the trader to make a timely trading decision based on the information.

An example of this is if Oil is trading at £40/barrel and the trader expects that the price will move to £60, at which price they are comfortable selling. The price alert feature allows the trader to set a notification for when the price reaches the £60/barrel. Once they receive the notification, they can immediately execute their order or carry out any other action they see fit at the time.

The reason this feature is useful is that it empowers a trader with the ability to take action just in time, without them having to constantly track and monitor market movements.

Other key risk tools offered by major brokerage platforms

Some of the key risk mitigation features that are offered by major brokerage houses include the following:

Guaranteed Stop Loss – This feature allows the user to specify the maximum potential loss that might be incurred on their trade. If a guaranteed stop is set at a particular level and the market prices fall below that level, the trader’s position will be closed at the specified level only.

However this feature might not be available for all instruments and the user may have to pay a non-refundable spread adjustment charge to make use of it. For example, a trader buys 10 shares of Facebook at £150 and places a guaranteed stop at £130 with a spread adjustment charge of £10. If the prices fall rapidly to £100, the position will be deemed closed at £130 and losses incurred will be limited at £190 ( {150-130} x 10 – spread adjustment charge), instead of £500 ( {150-100}*10 ).

Trailing Stop – A trailing stop is designed to lock the upside of a position whilst limiting the potential downside risk. A trailing stop is used to limit the number of pips by which the prices are allowed to fall before a position is closed. For example, if a Facebook CFD is trading at 150 and a trader buys 10 units of it with a pip equaling £0.1. The trader sets a trailing stop of 10 pips. The prices go up to £160 and then fall by £1. As the fall equals the trailing stop limit of 10 pips, the position will be closed at £159. This feature prevents the user from being exposed to losses due to continuously plummeting prices. The trailing stop limit allows a trader to express their loss bearing capability in numbers. The user can adjust this limit based on their comfort level for absorbing continued losses.

Profit Limit & Stop LossProfit limit is for setting a ceiling level up to which prices are allowed to move after which position will be closed and any profits would be booked. For example, shares of Facebook bought for £150 with an upward limit of £170 set. So, when the prices reach that level the positions will be closed automatically. Alternatively, if a stop loss limit of £120 is set and prices fall to £115, the position will be automatically closed.

However, the positions might not close exactly at the levels set by the user. So if the prices are falling very quickly and go from £150 to £110 in a matter of seconds, then the sale transaction may be executed more slowly than the rate at which the market is moving, and therefore at a level lower than the stop loss level. This is the key difference of this feature from a guaranteed stop, where guaranteed stop assures that the positions are closed precisely at the level set by the user in case of a fall in prices. For providing this assurance, the brokerage asks for spread adjustment charge as it will have to absorb the losses if the sale transaction executes at a level lower than the level that was set.

Entry Orders – Entry orders allow a trader to set a predefined price level at which they would like a to enter into a new transaction at. The position will be executed only if that price is reached. This price level could be above or below the current market price levels. This feature allows the user to time his entry into positions based on his perception of what they perceive a good price level to be.

Comparative Study

Below is a comparative study of the top brokerage houses with respect to the above-mentioned features:

Guaranteed Stop

Trailing Stop

Price Alert

Profit Limit & Stop Loss

Entry Orders

Plus500

AvaTrade

eToro

CMC Markets

Conclusion

An informed trader is a wise trader. The tools mentioned above not only keep the user informed, but can also act as an assistant by executing transactions based on the specified information. Trading in leveraged instruments comes with the risk of losses. These tools empower the user to minimise those losses and bring discipline into their trading practices, without having to constantly monitor market movements.


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