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Well, most brokers have a dual charging process, you can choose to pay a commission to execute through an ECN but spreads will be in some cases reduced to 0, they can't be eliminated all together because the prime liquidity provider requires a cut too. The presence of too many middle adds to the cost. If you decided to pay a spread then of course that is all you will pay for the trade. It is perfectly legal in the UK but in the US it may be a little different. City monopolist trading has a lot of information on the subject.

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7y ago
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Wiki User

9y ago

Let me presume what you are asking falls within the Forex PAMM or Account Manager System where expert traders or consultant trade your funds on your behalf for a certain fee. If it is then its legitimate. However ensure you carryout a thorough due diligence check before committing your funds to anyone or firm.

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Q: Is it legal to pay someone to buy and sell forex trades if you pay them a flat fee just to push a button when you want to make a trade?
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