I'd like to push my trading experience a bit.
I've been looking into opening an account with a broker that offers automated trading (I'm a programmer and would like to use my own trading algorithms). It seems for an under 25 the joining fee is reduced for some brokers, e.g. interactive brokers costs £3,000. So it's a good time for myself to open an account.
Before I apply for an account does anyone know what the fees are like? I've tried trading with CFDs (Contract for difference) but in my experience the spread fee on every trade cripples your likelihood of making a profit (you either profit small or lose big). I'll elaborate my point; I've previously been trading with a platform called Plus500 in the UK. If you cast your eye on the image below, you'll see that the current price of oil is at 100.02 per barrel, but to buy will cost me 100.06 (the red lines). Can this be eliminated so I can open a trade at the actual price and pay a flat fee instead?
I also began trading at the beginning of the bitcoin boom but the CFD platform I was using (Plus500) only let me keep a trade open for no more than 24 hours. This meant you couldn't buy then wait until the opportune moment to sell, you were forced to close at a loss if you hadn't closed your trade earlier in the small window you're allocated. I promise I'm not making this stuff up.
Will opening an account with something like interactive brokers alleviate those problems I've mentioned? If not then I don't see any reason to risk my money.
Thanks for your help and advice.