Oanda vs. Interbankfx for Scalping | 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

MICRO-LOT broker you already used/will choose,Oanda,FxSol,I nterbankFx,FXDD,EFX, other? 24 replies

More on interbankfx . . . 30 replies

Interbankfx 8 replies

Oanda vs. Interbankfx for Scalping

  • #1
  • First Post: Jan 23, 2008 3:01pm Jan 23, 2008 3:01pm
I am currently trying to decide which one is better for scalping. I hear good things about both, but would like some feedback from people who are actually signed up with them. thx
  • #2
  • Jan 23, 2008 3:24pm Jan 23, 2008 3:24pm
why not contact the broker and ask them, anyway interbankfx don't like scalper.
If I Go Broke Trying Then I Will die happy.
  • #3
  • Jan 23, 2008 3:37pm Jan 23, 2008 3:37pm
Are those the only 2 your are interested in? Your looking at 2 blocks of ice and asking which is warmer.

Neither like scalp trading, Oanda will probably be quicker to close your account.
The basis of a democratic state is liberty. ~ Aristotle
  • #4
  • Jan 24, 2008 3:00am Jan 24, 2008 3:00am
Quoting Vensik
Neither like scalp trading, Oanda will probably be quicker to close your account.
No, that's not true. Oanda does nothing against scalpers as long as you don't cheat them.

Regards - Xaron
  • #5
  • Jan 24, 2008 7:21am Jan 24, 2008 7:21am
Hey, go for it. I know one of my students accounts were closed for scalping at Oanda though. Looking at his trade history, no trade was open for less than 5 minutes.
The basis of a democratic state is liberty. ~ Aristotle
  • #6
  • Jan 24, 2008 7:41am Jan 24, 2008 7:41am
Show me that trade history. None of my scalping trades is open for more than one minute, most of them only some seconds...
  • #7
  • Jan 24, 2008 7:53am Jan 24, 2008 7:53am
Oh this was probably over a year ago, he just sent it to me in an email asking why they would close his account and I highlighted some of his shorter trades as the only reason I could find. None were open for less than 5 minutes though. I remember because I thought at the time it was pretty sad if a broker could not offset a trade within 5 minutes. Either way, I don't have a live account with them and never have. That is my only experience with them.

I'm not saying I'm 100% right, thats just the only experience I can give for them.
The basis of a democratic state is liberty. ~ Aristotle
  • #8
  • Jan 24, 2008 8:13am Jan 24, 2008 8:13am
Quoting Vensik
Oh this was probably over a year ago, he just sent it to me in an email asking why they would close his account and I highlighted some of his shorter trades as the only reason I could find. None were open for less than 5 minutes though. I remember because I thought at the time it was pretty sad if a broker could not offset a trade within 5 minutes. Either way, I don't have a live account with them and never have. That is my only experience with them.

I'm not saying I'm 100% right, thats just the only experience I can give for them.
I think Oanda is best for scalping .... Your students account maybe closed for anyother reason...I have no experience with Interbank FX... But i found Oanda and its help center best ever... They respond so quick of any of your question with great respect also their staff and organization seems very professional...
  • #9
  • Edited 8:58am Jan 24, 2008 8:24am | Edited 8:58am
Well I've always liked their interest method, but was turned off on the account closing. I will have to take another look.
The basis of a democratic state is liberty. ~ Aristotle
  • #10
  • Jan 24, 2008 8:45am Jan 24, 2008 8:45am
I know there were some accounts closed at Oanda a few years ago. But these were these Forexbastard things - news trading plus cheating Oanda due to different (faster) price feeds.

I know some scalpers there, some even do scalps from the 5 sec. chart, going in and out in seconds. It's fine for Oanda.

Regards - Xaron
  • #11
  • Jan 24, 2008 10:09am Jan 24, 2008 10:09am
IBFX doesn't like scalper so much you must hold trade for 3 minutes to avoid their scalping rules.
  • #12
  • Mar 5, 2008 8:06am Mar 5, 2008 8:06am
Quoting FedePresident
IBFX doesn't like scalper so much you must hold trade for 3 minutes to avoid their scalping rules.

This is completely false....

I have a LIVE account with IBFX... have for over 3 years, and usually never hold a trade more than 60-90 seconds...

I have never even been questioned by IBFX about this and my account remains in good standing...

scalping is not a problem at IBFX either...
  • #13
  • Mar 5, 2008 8:34am Mar 5, 2008 8:34am
Quoting DaveG777
This is completely false....

I have a LIVE account with IBFX... have for over 3 years, and usually never hold a trade more than 60-90 seconds...

I have never even been questioned by IBFX about this and my account remains in good standing...

scalping is not a problem at IBFX either...
one thing is their rules

another is when they close their eyes on some scalping trades

I'm in live with them since 3 years too, anyway I'm not a scalper, I'm more than happy for your allowed scalping trades at IBFX
  • #14
  • Mar 7, 2008 1:59pm Mar 7, 2008 1:59pm
Quoting DaveG777
This is completely false....

I have a LIVE account with IBFX... have for over 3 years, and usually never hold a trade more than 60-90 seconds...

I have never even been questioned by IBFX about this and my account remains in good standing...

scalping is not a problem at IBFX either...
Are your IBFX account make money in this 3 years? If negative, they will not disturb your account ... (just my guess)
  • #15
  • Mar 7, 2008 2:57pm Mar 7, 2008 2:57pm
I think the real question should be which one of these brokers give you the price you want when entering your scalp trade.
Oanda is certainly the better one of the two, but not the best.
Never Ever Give Up!
  • #16
  • Mar 7, 2008 3:09pm Mar 7, 2008 3:09pm
InterbankFX "officially" does not allow scalping (trades under 3 minutes). This was posted in their forum (before it was closed) and by their reps.

Now, unofficially, if you trade small enough lots (under $500,000) and dont win 100% of the time, I think they will let you keep on trading.

If you are a scalper, why not choose the broker with lowest commission? I dont think either Oanda or IBFX is good in that area.
  • #17
  • Mar 7, 2008 5:02pm Mar 7, 2008 5:02pm
Quoting FrankTheTank
InterbankFX "officially" does not allow scalping (trades under 3 minutes). This was posted in their forum (before it was closed) and by their reps.

Now, unofficially, if you trade small enough lots (under $500,000) and dont win 100% of the time, I think they will let you keep on trading.

If you are a scalper, why not choose the broker with lowest commission? I dont think either Oanda or IBFX is good in that area.
I can attest that IBFX do not welcome Scalping. If you hit them 1 time too many, they will close your account.

Like the above post said, if you consistently "win 100% of the time" scalping, they will throw you out. So why in hell would a broker boot you out for "winning 100%"? Answer: Because this broker dont like you to make money.

Scalping is a legitimate trading strategy inspite of what some brokers and traders claim. You can find abundant scalpers being interviewed on TV (CNBC, Bloombergs) that makes tons of money yearly - and I bet their brokers love them as well for the huge volume/commission they generate to them. If scalping is illegal or taboo in the first place, there will be no scalpers on the institutional levels at all - think about it!

If you are a scalper, go to ECN brokers (such as MBT or Currenex).
  • #18
  • Mar 7, 2008 8:08pm Mar 7, 2008 8:08pm
Quoting BurgerKing
Scalping is a legitimate trading strategy inspite of what some brokers and traders claim. You can find abundant scalpers being interviewed on TV (CNBC, Bloombergs) that makes tons of money yearly - and I bet their brokers love them as well for the huge volume/commission they generate to them. If scalping is illegal or taboo in the first place, there will be no scalpers on the institutional levels at all - think about it!
If you are a scalper, go to ECN brokers (such as MBT or Currenex).
- Yes, scalping is a legitimate trading strategy and the only reason brokers hate it is because many traders are successful at it. A lot of the big traders scalp and they are obviously not using one of the bucketshops to place their trades.
- There is a lot of false education around about scalping mainly on broker's sites or their sponsored links. The reasons they give for disallowing it are in my view basically groundless or more likely self-serving; the true reason is that brokers lose money to scalpers as some are very good at it.
- Trading is hard, we all know that. But i think it is easier making money scalping than swing trading.
  • #19
  • Mar 7, 2008 9:54pm Mar 7, 2008 9:54pm
if you want to scalp go with an ecn broker this way your trade is offset with a bank, market makers has to offset your trade with there L.P., B.T.W. don't believe that the big boys scalp most of them shoot for 100+ pips per trade
If I Go Broke Trying Then I Will die happy.
  • #20
  • Mar 7, 2008 9:59pm Mar 7, 2008 9:59pm
Quoting Moe
if you want to scalp go with an ecn broker this way your trade is offset with a bank, market makers has to offset your trade with there L.P., B.T.W. don't believe that the big boys scalp most of them shoot for 100+ pips per trade
Right Moe,

Hedge funds trade long term. PipStar, please explain your claim that swing trading is hard than scalping?

scex
0 traders viewing now