What broker would work well in this situation?

Here is my situation. I want to build a scalping EA. I haven't coded it yet, as I want to make sure the platform I code it in is compatible with the broker I use.

Here is what I need:

1. ECN or straight through process since I'm scalping and don't want to get shut down for doing so.

2. Ability to build an EA onto their platform. I want to be able to do it for free. The only other automated trading packages I've seen, such as NinjaTrader, cost around $1K and I don't think they're worth it if I can do the same on MT4. Do I have any ECN broker options with MT4 compatibility?

3. Low spreads on 1-3 currencies. I am not going to be trading every currency under the sun. I might be fine with implementing the system on just one currency. The system will produce enough signals. So perhaps there is a broker who is famous for having ridiculously low actual spreads on a single currency? I would love to implement the system on 2-3 currencies pairs depending on correlation, but if I need to alter the system to a point where I think the spread affects the performance I won't bother.

4. Low initial deposit of $1K or less. I don't believe in back testing, or forward testing on a demo account. I am willing to throw $1k at my system to see if it works. I believe it will, but only real world trading will tell depending on the slippage and re-quoting the broker gives me.

Those are the requirements for now. If there is a large broker that can accommodate this I would obviously prefer them to the small time buckets.

Any suggestions?

I don't believe MB supports MT4. The system only works if automated as it runs way too quick for any human to keep up. Being able to run an automated system on the broker is very important.

I guess I should say the absolute necessities of the broker are that they allow scalping and have a platform that I can build an automated trader into. Having .5 spreads isn't necessary. They system should work even if spreads are 2-3 pips. Anything about that and it'll work, but not as successfully as I'd like. It becomes harder to close those winning trades.

Does that change your answer?

Shit outta luck

permanentjaun,

Ikon-Royal meets your criteria. They have ECN sized spreads, MT4, and they allow scalping (I asked them). Only $1000 to start and they have mini lots.

I heard PFG forex is getting MT4 and they are pretty close to an ECN with low spreads.

this guys offer mt-4 thru pfg forex i think they are an ib for them they do charge a comm

http://www.spottraderfx.com

I think I'm going to try MB Trading since they're a real ECN. I can invest a quick $180 to use the NinjaTrader platform to automate the trading. Now I need to read peoples experience with that. Oiy.

If anyone has a link to a thread that ranks brokers on what account size you have that would be awesome. For example, right now I can open an account with MB Trading for $400. Once the account hits $7500 I can open an account with HotspotFX and they should be better trading with than MB. Then once I hit $50K what brokers are available and why are they better? 100K? $250K? etc..

TIA. Matt

What makes you think PFG is an ECN and which PFG platform are you talking about?