Scalping with Forex.com? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Forex scalping in 1 min time frame? 19 replies

^eagle^'s Scalping Forex on MT4 1 reply

What determines if someone is scalping on Forex? 1 reply

Scalping with Forex.com?

  • #1
  • First Post: Sep 21, 2007 9:53am Sep 21, 2007 9:53am
Hey everyone,

I've been trying to find some info on this but I'm coming up blank. Does anybody know if Forex.com allows scalping? I would be holding my trades anywhere from a few seconds to a few minutes (and no I am not trading the news).

Also, how is Forex.com as a broker in general? Does anybody have a live account with them? I'd love to hear people's experiences. Thank you!
I came, I saw, I conquered [your pips]. -- Julius Caesar
  • #2
  • Sep 21, 2007 12:20pm Sep 21, 2007 12:20pm
It should be hard to scalp with those high spreads...

the biggest problems are high spreads and the most horrible platform ever. (2nd MB and EFX) You can't even track the margin properly.

I closed my account with them...
  • #3
  • Sep 23, 2007 3:24am Sep 23, 2007 3:24am
Not only that, but you simply cannot scalp with a dealing desk broker because they're taking the other side of your trade. Don't even try this with Forex.com or you'll be wasting your time. We only use an institutional liquidity solution, like Currenex, with our traders who scalp ($25,000 minimum account size, so this might be a problem for you if your account size is not big enough). MB Trading is also another option, but their commissions are pretty high relative to the industry (even though their account minimum is only $400).
  • #4
  • Oct 1, 2007 2:00pm Oct 1, 2007 2:00pm
in reply to your statement exx there are two ways to track your margin
1. The margin monitor
2. The margin calculator

That's two more tools than other brokers offer
  • #5
  • Oct 1, 2007 2:09pm Oct 1, 2007 2:09pm
Hi dominicanosrus

"Taking the other side of the trade" is what brokers do, but perhaps the term has been poorly explained. When you buy a watermelon, and the farmer takes your cash, he is "taking the other side of your trade."
When you place a trade and sell EUR/USD we buy it from you. Another trader may then buy EUR/USD from us.
You can definately scalp with Forex.com, even during high volatility trading periods where rates may change milliseconds after you submitted a trade request, we will not fill you at a worse price without your permission.
  • #6
  • Oct 1, 2007 2:40pm Oct 1, 2007 2:40pm
Quoting Forex.Com
Hi dominicanosrus

"Taking the other side of the trade" is what brokers do, but perhaps the term has been poorly explained. When you buy a watermelon, and the farmer takes your cash, he is "taking the other side of your trade."
When you place a trade and sell EUR/USD we buy it from you. Another trader may then buy EUR/USD from us.
You can definately scalp with Forex.com, even during high volatility trading periods where rates may change milliseconds after you submitted a trade request, we will not fill you at a worse price without your permission.
Really?
  • #7
  • Oct 1, 2007 3:31pm Oct 1, 2007 3:31pm
Quoting Forex.Com
Hi dominicanosrus

"Taking the other side of the trade" is what brokers do, but perhaps the term has been poorly explained. When you buy a watermelon, and the farmer takes your cash, he is "taking the other side of your trade."
When you place a trade and sell EUR/USD we buy it from you. Another trader may then buy EUR/USD from us.
You can definately scalp with Forex.com, even during high volatility trading periods where rates may change milliseconds after you submitted a trade request, we will not fill you at a worse price without your permission.
I'm not sure that's accurate. In your analogy, the farmer would be the actual market, and forex.com would be Wal-Mart...because you're getting it from the farmer and selling the watermelon to us at a higher price(the spread). No?

Otherwise, how would forex.com make a profit without charging commisions?

Also, what constitutes "your permission"? A requote?

Not trying to be an ass, just sayin'
  • #8
  • Oct 1, 2007 7:31pm Oct 1, 2007 7:31pm
What are the spreads for cable and gbp/jpy with forex.com? I looked on the site and it showed 2.5 pips.. but it says "minimum spread" I used them years ago and they had a huge 5 pip spread for cable. The online platform was truly awful too.
  • #9
  • Oct 1, 2007 11:05pm Oct 1, 2007 11:05pm
Quoting peterM
What are the spreads for cable and gbp/jpy with forex.com? I looked on the site and it showed 2.5 pips.. but it says "minimum spread" I used them years ago and they had a huge 5 pip spread for cable. The online platform was truly awful too.
Their fixed spreads are 5 pips for cable and 9 for GBP/JPY. I've had an account with them for years but I trade with Oanda And InterbankFX also. All live accounts and I like them all for different reasons. I will say I've never had trouble getting filled with Forex.com. and at the price requested. I don't try to get in or out during a news spike though. They have a new platform which is light years ahead of the old one, but still, it's not for everyone. I happen to like it.
I've no experience with their fractional spreads. The advertised spreads look good but they advertise the minimum spread and I don't know how much it fluctuates. I stay with the fixed spread because I'm cynical at heart and don't like to leave things to chance.
I also like the idea of free eSignal charting. Maybe i've been lucky but I've had no problems with them. Or maybe their platform is sufficient for my type of trading.
From what I hear, if you open a demo you can expect to start getting sales calls. I tend to have a little fun with telemarketers anyway.
  • #10
  • Oct 2, 2007 5:05am Oct 2, 2007 5:05am
thanks for your reply.. 5 pips is a bit high i guess for cable.. but if there is no slippage its just about acceptable.. for some types of trading... definately not scalping though!

On their website they are currently quoting 2.5 pips for cable and 1 pip for eur/gbp... Am I missing something or is this a deliberate attempt to mislead people ?
Quoting billflet
Their fixed spreads are 5 pips for cable and 9 for GBP/JPY. I've had an account with them for years but I trade with Oanda And InterbankFX also. All live accounts and I like them all for different reasons. I will say I've never had trouble getting filled with Forex.com. and at the price requested. I don't try to get in or out during a news spike though. They have a new platform which is light years ahead of the old one, but still, it's not for everyone. I happen to like it.
I've no experience with their fractional spreads. The advertised spreads look good but they advertise the minimum spread and I don't know how much it fluctuates. I stay with the fixed spread because I'm cynical at heart and don't like to leave things to chance.
I also like the idea of free eSignal charting. Maybe i've been lucky but I've had no problems with them. Or maybe their platform is sufficient for my type of trading.
From what I hear, if you open a demo you can expect to start getting sales calls. I tend to have a little fun with telemarketers anyway.
  • #11
  • Oct 2, 2007 6:19am Oct 2, 2007 6:19am
Quoting peterM
thanks for your reply.. 5 pips is a bit high i guess for cable.. but if there is no slippage its just about acceptable.. for some types of trading... definately not scalping though!

On their website they are currently quoting 2.5 pips for cable and 1 pip for eur/gbp... Am I missing something or is this a deliberate attempt to mislead people ?
There's no such thing as no slippage. There is always slippage, especially when you're manually trading. Add a dealing desk model to that and the slippage increases.

They might be quoting the best, best, case scenario. It's a marketing gimmick to get people to assume the ideal situation.
  • #12
  • Oct 2, 2007 6:49am Oct 2, 2007 6:49am
Please respond with some facts and information, instead of an emotional outburst only. Otherwise the post will be deleted. I removed some posts of this nature.

Thanks
  • #13
  • Oct 2, 2007 6:56am Oct 2, 2007 6:56am
Me and my friend had a mini-account with them (now both blown). I never had any problems with their fixed spread, always got filled, almost no slippage.But never traded during news time, except once where we got filled really bad (NFP), but thats with all brokers. I like their ability to withdraw and deposite on your debit card as many times as you like, and its really hassel free. Their platform can be a bit confusing.
  • #14
  • Edited 8:01am Oct 2, 2007 7:45am | Edited 8:01am
Quoting nhallmark
I'm not sure that's accurate. In your analogy, the farmer would be the actual market, and forex.com would be Wal-Mart...because you're getting it from the farmer and selling the watermelon to us at a higher price(the spread). No?

Otherwise, how would forex.com make a profit without charging commisions?

Also, what constitutes "your permission"? A requote?

Not trying to be an ass, just sayin'
Hi Nhallmark,
It's not intuitive but there is no central stock exchange, i.e. "market" with currencies or an ECN that is transparent with regard to your bid being matched directly to someone else's offer.
by "without your permission" I meant that you will only be filled at exactly the rate you specified.
  • #15
  • Oct 2, 2007 7:50am Oct 2, 2007 7:50am
Quoting dominicanosrus
There's no such thing as no slippage.
Sure there is: use limit orders.
  • #16
  • Oct 2, 2007 7:50am Oct 2, 2007 7:50am
Quoting peterM
What are the spreads for cable and gbp/jpy with forex.com? I looked on the site and it showed 2.5 pips.. but it says "minimum spread" I used them years ago and they had a huge 5 pip spread for cable. The online platform was truly awful too.
Hi Peter,
Our spreads for Cable are typically 2.5 pips,
For all crosses (GBP/JPY) typically 4.0 pips
I recommend looking at our demo platform, which shows fractional pricing.
Also, our Java online platform is much improved.
  • #17
  • Oct 2, 2007 7:54am Oct 2, 2007 7:54am
Quoting billflet
Their fixed spreads are 5 pips for cable and 9 for GBP/JPY. I've had an account with them for years but I trade with Oanda And InterbankFX also. All live accounts and I like them all for different reasons. I will say I've never had trouble getting filled with Forex.com. and at the price requested. I don't try to get in or out during a news spike though. They have a new platform which is light years ahead of the old one, but still, it's not for everyone. I happen to like it.
I've no experience with their fractional spreads. The advertised spreads look good but they advertise the minimum spread and I don't know how much it fluctuates. I stay with the fixed spread because I'm cynical at heart and don't like to leave things to chance.
I also like the idea of free eSignal charting. Maybe i've been lucky but I've had no problems with them. Or maybe their platform is sufficient for my type of trading.
From what I hear, if you open a demo you can expect to start getting sales calls. I tend to have a little fun with telemarketers anyway.
Hi Billflet,
Our spread on cable is 2.5 and on GBP/JPY is 4.0, as on all crosses, please be gentle with our sales people
  • #18
  • Oct 2, 2007 7:58am Oct 2, 2007 7:58am
Quoting peterM
thanks for your reply.. 5 pips is a bit high i guess for cable.. but if there is no slippage its just about acceptable.. for some types of trading... definately not scalping though!

On their website they are currently quoting 2.5 pips for cable and 1 pip for eur/gbp... Am I missing something or is this a deliberate attempt to mislead people ?
On the EUR/GBP the spread can be as low as 1.0 or 2.0 traders typically see 3.0
  • #19
  • Oct 2, 2007 8:52am Oct 2, 2007 8:52am
so instead of putting the typical spreads, you put the minimum spread. That is very misleading.
  • #20
  • Oct 2, 2007 8:59am Oct 2, 2007 8:59am
Quoting philmcgrew
Sure there is: use limit orders.
philmcgrew; What you're saying is true from a price perspective. By definition, a limit order can't be filled at a price that's worse than the limit price. But I was referring to slippage from the point of view of time delay and the resulting lost opportunity; so I apologize for not being specific. Discretionary traders always have latency to deal with: the time it takes for the mouse to be clicked or key stricken [assuming of course that the orders are not entered in the platform ahead of time]. This is true on a universal scale. There's always the time it takes for the order to reach it's destination, which is greater the farther the trader is from the execution server and also the lower the quality and bandwidth of his internet service is. This is crucial for scalping and news trading, when even 100ms of latency can make a huge difference [as we've discovered with high-frequency scalpers running on Currenex hubs]. Add to the above the extra time it takes for an ordered to be processed by a dealing-based broker model, and the overall latency might be significant to impact the trading results. That's one [not all] of the reasons why it makes no sense to scalp with a dealing desk broker.
0 traders viewing now