Your Broker Can Have More Impact on Your Results Than Your Trading Strategy.
Your choice of broker is as critical as your trading strategy itself.
Very few stop to ask a more fundamental question: "Am I trading with the right broker?"
Every trade you execute passes through your broker. Every spread you pay. Every commission. Every swap. Every execution. Every slippage. Every market opening. Every gap.
Choosing a broker is not simply opening an account. It is choosing the environment where your strategy will live.
Before recommending any broker, I spent years studying the Forex brokerage industry. The research included a theoretical evaluation of several internationally recognized brokers, including:
However, theory alone is never enough. Marketing materials, advertisements, and broker websites rarely tell the whole story. For that reason, I also conducted practical observations using live trading conditions.
After months of observation, three brokers consistently stood above the others. Those three became the focus of my comparative analysis: Tickmill, IC Markets, XM
Many traders compare brokers based only on leverage or promotions. I don't. I compare them based on six factors that directly influence long-term trading performance.
These six variables affect every trader regardless of experience level. The impact becomes even greater when they are repeated over hundreds or thousands of trades.
29/30
25/30
21/30
These scores summarize my own observations and the relative importance I assign to each criterion. They are intended to explain why I personally chose Tickmill rather than to claim universal rankings.
Spread is the first trading cost you pay every time you open a position. The larger the spread...
The more difficult it becomes to reach breakeven;
The lower your net return;
The greater the impact on high-frequency traders;
The harder it becomes to use strategies with short stop losses.
During my observations, Tickmill consistently offered the most competitive spreads among the brokers evaluated. Lower trading costs may appear small on a single trade, but over hundreds or thousands of trades they can become a significant factor.
The period immediately after the market opens is often one of the most challenging moments for traders. Liquidity is still returning. Spreads may widen. Execution conditions can temporarily change. For strategies that enter positions near market open, this can have a measurable impact.
During my practical observations, Tickmill demonstrated the most favorable overall behavior during these periods, followed by IC Markets and XM.
Perhaps the most underestimated cost in Forex trading. Most beginners never measure it. Professionals do.
Slippage occurs when your order is executed at a different price than the one requested. Even a small amount of slippage, repeated over hundreds of trades, can reduce performance.
During my practical observations, Tickmill consistently delivered no observable slippage, including during the market gaps I monitored. XM ranked second. IC Markets ranked third.
Many traders ignore swap because they usually close their trades before the end of the trading day.
However, if you hold positions overnight—or even for several days—swap can become one of the largest hidden trading costs.
A strategy that looks profitable on paper may produce different results once overnight financing charges are taken into account.
For swing traders, position traders, and traders who occasionally allow winners to run, swap deserves careful consideration.
XM ranked first because some instruments offer exceptionally favorable swap conditions.
For example, during my observations: XAUUSD (Gold) on the Ultra Low Account had zero swap.
Tickmill also offers zero swap on certain instruments, such as BTCUSD on the RAW Account, while maintaining highly competitive conditions across other markets.
IC Markets ranked third due to higher overnight costs in the instruments I monitored.
Every dollar saved in commissions remains part of your trading capital.
This becomes increasingly important over time.
A trader executing hundreds or thousands of trades each year may pay thousands of dollars in transaction costs.
Reducing those costs helps improve long-term performance without changing the trading strategy itself.
XM ranked first because some account types charge no trading commissions.
Tickmill ranked second thanks to competitive RAW account pricing while delivering excellent execution quality.
IC Markets ranked third in my comparison.
A broker may advertise extremely low spreads.
The real question is: How stable are those spreads?
Many traders only look at the minimum spread displayed on a website. Professionals pay attention to consistency.
Frequent spread spikes can negatively affect:
Entries;
Exits;
Stop-loss execution;
Scalping strategies;
Automated trading systems;
Strategies using tight stop losses.
During my observations, Tickmill showed the most consistent spread behavior among the brokers evaluated.
For systematic traders, consistency is often more valuable than occasional promotional pricing.
After combining all six factors, Tickmill presented the strongest overall balance.
Not because it ranked first in every category. But because it consistently performed at a very high level across nearly every factor that influences long-term trading performance.
This balanced performance is the primary reason I chose Tickmill as my preferred broker.
Many traders spend months searching for:
The perfect indicator;
The perfect strategy;
The perfect entry;
The perfect mentor.
Yet they rarely ask whether the environment where every trade is executed is helping—or quietly working against—them.
Broker selection is not just an administrative decision. It is part of your trading system.
Many traders believe that their trading strategy begins the moment they click Buy or Sell.
I disagree.
Your trading strategy begins when you choose the broker that will execute every trade.
Every position you open is affected by your broker's trading environment.
That environment includes:
These factors do not change your trading rules.
However, they directly influence the net outcome of every trade.
For strategies with a relatively small statistical edge, preserving or eroding that edge may determine whether the overall result remains positive or becomes negative.
That is one of the reasons why I consider broker selection an integral part of every trading strategy.
Many traders assume that a trading strategy will produce identical results regardless of the broker used.
In reality, a trading strategy does not operate in isolation.
It operates inside a trading environment.
Although a broker does not change the logic of your trading system, differences in execution quality and trading costs can influence the final outcome.
The same strategy, executed under different trading conditions, may produce different net results.
For strategies with relatively small statistical advantages, preserving or eroding that advantage can make a meaningful difference over time.
The following example is hypothetical and is intended solely to illustrate how execution quality may influence the net performance of the same trading strategy.
Instrument: XAUUSD (Gold)
Position Size: 0.01 Lot
Stop Loss: 100 Points
Take Profit: 100 Points (1:1 Risk-to-Reward)
Trading Results:
- 10 Trades
- 5 Winning Trades
- 5 Losing Trades
The trading decisions are identical in both scenarios.
Average Slippage: 0 Points
Winning Trades: 5 × $1.00 = +$5.00
Losing Trades: 5 × $1.00 = −$5.00
Net Result: Break-even
Average Slippage (based on my practical observations): 20 Points
Each losing trade increases from $1.00 to $1.20
Winning Trades: 5 × $1.00 = +$5.00
Losing Trades: 5 × $1.20 = −$6.00
Net Result: −$1.00
Nothing.
The trader:
The only factor considered in this simplified example was the average slippage.
Even though the trading decisions remained exactly the same, the financial outcome changed from break-even to a net loss.
This illustrates why execution quality deserves careful consideration, especially for strategies with relatively small statistical advantages.
The previous example considered only one execution factor: slippage.
In real trading, execution quality is influenced by several variables working together.
One of the most important is spread.
When a trading strategy uses a relatively tight stop loss—such as 100 points on Gold—every additional point paid in spread represents a larger percentage of the total risk.
If one broker consistently offers a lower and more stable spread than another, the trader starts every position with lower transaction costs.
This means:
Over dozens, hundreds, or even thousands of trades, these seemingly small differences may accumulate significantly.
During my practical observations, Tickmill consistently demonstrated lower and more stable spreads than the other brokers evaluated.
For strategies using relatively tight stop losses, I believe these characteristics may help preserve more of the strategy's statistical edge over time.
When lower and more stable spreads are combined with better execution quality and the absence of observable slippage during my practical observations—including around market gaps—the overall trading environment may become more favorable for certain trading strategies.
That is one of the main reasons why I consider broker selection an integral part of the trading system itself.
When you open your account through my partnership link, you receive:
✔ My preferred broker based on years of research and practical observation.
✔ Competitive trading conditions.
✔ Excellent execution quality.
✔ Highly competitive spreads.
✔ Stable spreads.
✔ 5% commission discount on eligible RAW accounts.
✔ Exclusive educational bonuses worth $54.99.
Prefer XM? The same bonus applies.
Learn More: ELEMENT X · How to Choose and Build a Trading Strategy
Every trader starts somewhere.
Most of us begin by learning from books, videos, mentors, trading communities, or educational courses.
That is natural.
However, there comes a point when every developing trader should begin building independent judgment.
Professional traders don't make decisions simply because someone told them to.
They evaluate.
They test.
They compare.
They think critically.
One of the signs that a trader is maturing is the ability to make decisions based on their own research and experience.
That includes choosing a broker.
Many traders continue using the same broker simply because it was recommended by the person who first taught them how to trade.
But your instructor's trading style is not necessarily your trading style.
Their objectives may not be your objectives.
Their strategy may not resemble yours.
A broker that works well for a scalper may not be the best choice for a swing trader.
A broker that suits someone trading only major currency pairs may not be ideal for someone specializing in Gold or Bitcoin.
Likewise, a strategy with very tight stop losses may place greater importance on spread stability and execution quality than a strategy with much wider stops.
Choosing a broker should therefore become part of your own trading research—not merely an inherited decision.
Learn from others.
But eventually, build the confidence to make informed decisions based on evidence, your own observations, and the needs of your trading strategy.
That is one of the transitions from being a student of trading to becoming an independent trader.
They are not intended to tell you what to trade.
They are designed to help you understand how to think as an independent trader.
ELEMENT X: The Forbidden Truth Of The Forex Market helps you develop a professional mindset by aligning your expectations with the realities of institutional trading, emphasizing capital preservation, disciplined risk management, and long-term consistency over unrealistic promises.
How to Choose and Build a Trading Strategy complements that journey by demonstrating why simple, robust, and executable trading systems often outperform unnecessarily complex ones, making it easier to remain disciplined and consistent over time.
Together, these two books are designed to help you move from dependence on mentors, signal providers, and trading communities toward becoming a trader capable of:
Because the ultimate goal of trading education is not to create lifelong followers—it is to help traders become independent thinkers.
Choosing the right broker is only the first step. The second step is developing the knowledge required to trade with discipline, realistic expectations, and a structured decision-making process. That is why I decided to offer something beyond a referral link.
When you register through my partnership link — with Tickmill or XM — and satisfy the promotion requirements, you will receive two premium books completely free.
$54.99
ELEMENT X: The Forbidden Truth Of The Forex Market
How to Choose and Build a Trading Strategy
Retail Price: $24.99
Unlike most trading books, Element X is not another trading strategy. It is not a signal service. It is not another collection of indicators. It is a structured framework designed to help traders think and make decisions the way professional traders and institutions approach the markets.
Instead of teaching you how to chase the next "winning trade," it teaches you how to build a rational decision-making process capable of surviving for years.
Inside the book you will learn topics such as:
✔ What realistic professional trading performance actually looks like.
✔ Why most retail traders lose money.
✔ Why chasing extraordinary returns usually destroys trading accounts.
✔ Institutional risk management principles.
✔ How professional traders protect capital before seeking profits.
✔ Why consistency matters more than spectacular gains.
✔ How compounding works in professional trading.
✔ The psychological traps that silently destroy trading accounts.
✔ How to build a rational framework instead of depending on signals.
✔ Why long-term consistency is the true objective of professional trading.
Learn more: framework.elementxsystem.com
Retail Price: $30.00
One of the biggest misconceptions in trading is believing that more complexity produces better results. Many traders spend years adding:
More indicators;
More confirmations;
More filters;
More rules;
More market theories.
Ironically, this often produces the opposite effect. More hesitation. More inconsistency. More emotional decisions. More abandoned strategies.
This book explains why simplicity frequently produces better execution under real market pressure. You'll discover concepts such as:
✔ Why complexity is the hidden enemy of consistency.
✔ Why adding more indicators often reduces performance.
✔ Analysis paralysis.
✔ Why simple systems are easier to execute.
✔ Why execution consistency matters as much as the strategy itself.
✔ How to avoid constantly jumping from one system to another.
✔ How to build a trading strategy you can realistically follow for years.
Learn more: strategy.elementxsystem.com
If you would like to learn more before claiming your free copies, simply click Learn More on each book's page. Each page explains the complete contents of the book and allows you to verify its regular retail price.
However...
If you register through my partnership link and satisfy the promotion requirements, you will receive both premium books completely free.
Simple.
Transparent.
No hidden fees.
No expensive courses.
No subscriptions.
Most trading education focuses almost exclusively on entries. Very little attention is given to the foundations that determine whether a trader can remain profitable over the long term. These two books address that gap.
teaches you how professional traders think.
teaches you how professional traders build systems they can actually execute consistently.
Together, they create a foundation that goes far beyond learning another indicator or chart pattern.
Many traders believe they must purchase expensive mentorships or premium trading courses before they can improve. I don't believe that is necessary.
In addition to these two books, you will also have access to:
✔ My educational content published regularly.
✔ Tickmill's educational articles.
✔ Tickmill webinars.
✔ Tickmill market analysis.
✔ Tickmill Academy.
By combining these resources with disciplined practice, you can develop a solid understanding of the markets without feeling pressured to spend thousands of dollars on courses.
A large portion of the trading industry revolves around topics such as:
Indicators
Support and Resistance
Price Action
Chart Patterns
Trading Signals
Copy Trading
VIP Signal Rooms
These subjects can certainly be useful. However, many traders spend years studying them while overlooking equally important topics such as:
Realistic expectations;
Institutional risk management;
Capital preservation;
Trading costs;
Execution quality;
Decision-making frameworks;
Strategy simplicity;
Long-term consistency.
These are precisely the types of concepts I focus on throughout my educational content. Because learning how to think as a trader is often more valuable than simply learning where to enter a trade.
One of the most common mistakes beginners make is believing that success comes from finding:
The perfect signal provider;
The best VIP group;
The best copy trading service.
Signals may tell you what someone else is doing. They rarely teach you why. Without understanding the reasoning behind each decision, many traders become permanently dependent on others.
Clients who register through my referral link may also become eligible for future exclusive mystery bonuses, educational resources, and special promotions. Details will be announced when available.
Open your Tickmill account today, deposit at least $100, and receive:
✅ A trading account with the broker I personally selected after years of research and practical observation.
✅ 5% commission discount on eligible RAW accounts using MT5 or Tickmill Trader.
✅ ELEMENT X: The Forbidden Truth of the Forex Market (Value: $24.99)
✅ How to Choose and Build a Trading Strategy (Value: $30.00)
"If Tickmill is your preferred broker, why does ELEMENT X dedicate an entire chapter to XM?"
The answer is simple.
My objective is not merely to recommend a broker.
My objective is to help traders better understand the brokerage industry.
For that reason, Chapter 4 of ELEMENT X explores thirteen additional characteristics of XM that were intentionally excluded from the six-factor comparison presented on this page.
These characteristics do not necessarily affect every trading strategy equally, but they may be relevant depending on a trader's objectives and operating style.
Understanding them can help you make a more informed decision when choosing a broker.
Although my overall evaluation led me to select Tickmill as my preferred broker, XM also demonstrated important strengths in several areas, which is why it deserved a dedicated chapter in the book.
My recommendation is based on my own trading style, research methodology, and practical observations.
Your final decision should always be based on your own objectives, trading style, and independent evaluation.
My research identified three brokers that consistently stood out in both theoretical analysis and practical observations. While Tickmill is my preferred choice because of its overall balance, every trader has different priorities and trading styles.
If, after reviewing the comparison, you believe XM better aligns with your needs, you may also consider:
The final decision should always be based on your own trading style, objectives, and independent research.
Yes. Tickmill offers a user-friendly trading environment, educational resources, webinars, market analysis, and multiple trading platforms, making it suitable for both beginners and experienced traders. However, opening a trading account does not eliminate the need to learn. Developing knowledge and discipline remains essential.
Over several years, I conducted theoretical research on numerous internationally recognized brokers and practical observations with several major brokers. After comparing factors such as spread, execution quality, slippage, swap, commissions, and spread stability, Tickmill achieved the strongest overall balance in my personal evaluation. This recommendation reflects my own research methodology and practical experience. Other traders may prioritize different factors depending on their strategies and objectives.
Every trade passes through your broker. Execution quality influences: trading costs; order execution; spread; slippage; overnight financing; long-term consistency. A profitable strategy can still be affected by higher transaction costs or inconsistent execution. Choosing a broker should therefore be considered an important part of your overall trading plan.
No. Absolutely not. The $100 is deposited directly into your own Tickmill trading account. It remains your trading capital. You are not purchasing the books. The books are offered as an exclusive educational bonus for eligible clients who register through my referral link and satisfy the promotion requirements.
No. In my opinion, building a solid foundation is more important than purchasing expensive courses simply because they are expensive. Between: Tickmill's educational resources; Tickmill webinars; Tickmill Academy; my free educational content; the two premium books included as bonuses, you can build a strong foundation without feeling pressured to invest thousands of dollars in trading education.
No. I do not operate a signal service. My objective is educational. Rather than encouraging dependence on trading signals, I prefer helping traders understand how markets work so they can make better-informed decisions independently.
Copy trading may be suitable for some investors, but it also involves risks. Following another trader does not necessarily teach you risk management, decision-making, or strategy development. For long-term growth, I believe understanding the reasoning behind trading decisions is generally more valuable than simply copying them.
No. Neither Tickmill nor I can guarantee profits. Trading always involves uncertainty. Every trade carries risk. The purpose of education is not to eliminate risk. It is to help traders make more informed and disciplined decisions.
Yes. That is precisely one of the reasons the two premium books are included as part of this offer. ELEMENT X: The Forbidden Truth of the Forex Market will help you align your mindset and expectations with the realities of professional trading. How to Choose and Build a Trading Strategy will guide you through the process of building a simple, executable trading system that you can follow consistently. Together, these two books are designed to help you move forward independently — without needing to rely on signal providers, mentors, or expensive courses to make your next decision.
That is their purpose. Most trading education creates dependency — on signals, on mentors, on communities. These two books are designed with the opposite goal: to help you develop the judgment, the mindset, and the framework to evaluate opportunities, manage risk, and make informed decisions on your own. You will not be left wondering what to do next. You will have a structured foundation to build from.
Yes. The bonus is available for clients who register through my referral link with either Tickmill or XM, verify their account, and complete the minimum deposit required by the broker. Tickmill requires a minimum deposit of $100. XM requires a minimum deposit of $5. In both cases, your deposit goes directly into your own trading account and remains your trading capital. To claim your books, simply send a screenshot of your deposit confirmation to contact@elementxsystem.com.
No. Absolutely not. The $5 is XM's minimum funding requirement to activate your trading account. It is deposited directly into your own XM trading account and remains your trading capital. The books are offered as an exclusive educational bonus for eligible clients who register through my referral link and satisfy the promotion requirements.
When you register through my partnership link — with Tickmill or XM — verify your account, and complete the minimum deposit required by the broker, you receive:
Value: $54.99
Value: $24.99 — Learn More
Value: $30.00 — Learn More
Minimum deposit: $100
✔ 5% Commission Discount on eligible RAW accounts (MT5 or Tickmill Trader)
Minimum deposit: $5
✔ Zero swap on Forex Majors, Minors & Spot Metals on Ultra Low account
Most traders begin by searching for:
❌ The perfect indicator.
❌ The perfect signal provider.
❌ The perfect strategy.
Professionals begin differently. They build a strong foundation. That foundation starts with:
✔ Choosing the right broker.
✔ Managing risk professionally.
✔ Maintaining realistic expectations.
✔ Building a simple, executable trading system.
✔ Remaining consistent over time.
Those principles have guided my own research and continue to shape everything I teach. If they align with your approach to trading, I would be pleased to welcome you through my Tickmill partnership.
My goal is not simply to help you open a trading account.
My goal is to help you build a strong foundation so that, over time, you become an independent trader capable of making your own decisions—including choosing the broker that best aligns with your strategy, your trading style, and your long-term objectives.
If, after conducting your own research, you conclude that Tickmill is the right choice for you, I will be delighted to welcome you through my partnership.
✔ Competitive trading environment
✔ 5% commission discount on eligible RAW accounts
✔ $54.99 in premium books
✔ Ongoing educational content
✔ Potential future mystery bonuses
Trading Forex, Contracts for Difference (CFDs), precious metals, cryptocurrencies, and other leveraged financial instruments involves a high level of risk and may not be suitable for all investors. Leverage can magnify both profits and losses. You may lose part or all of your invested capital. Past performance does not guarantee future results. Nothing on this website should be interpreted as investment advice, financial advice, tax advice, legal advice, or a recommendation to buy or sell any financial instrument. Always ensure that you fully understand the risks involved before trading and never trade with money you cannot afford to lose.
This website contains an Introducing Broker referral link. If you open a Tickmill account through this link and satisfy the applicable requirements, I may receive compensation under Tickmill's Introducing Broker Program. This partnership does not change my commitment to sharing educational content based on my own research and practical observations. Any bonuses described on this page are promotional offers provided by me and may be modified, replaced, or discontinued at any time without prior notice. The 5% commission discount is subject to Tickmill's eligibility requirements and applicable account types.
The broker comparisons presented on this page are based on my own research methodology, theoretical analysis of multiple brokerage firms, and practical observations conducted over time using selected brokers. Trading conditions may vary depending on market conditions, account type, instrument traded, liquidity, execution venue, regulation, server location, and future changes implemented by brokers. Therefore, these observations should not be interpreted as universal or permanent rankings. They represent the conclusions reached through my own evaluation process.
The educational materials provided through this promotion are intended solely for educational purposes. They do not constitute investment advice or a recommendation to trade any specific financial instrument. Every trader is responsible for their own decisions and should conduct independent research before investing.
Copyright © 2026 Dionísio Viriato Monjane. Element X Trading System. All rights reserved.