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Brokers for Scalping 10 Standard Lots

  • #1
  • First Post: Jan 24, 2007 11:10am Jan 24, 2007 11:10am
Brokers for Scalping 10 Standard Lots

Hello Friends,

I want to do scalp trading via my Expert Advisor(EA).
The problem is, most of the broker dont want me to
buy more than 2 standard lots because I buy and sell within
a couple of minutes.

Is there a broker that has a capability to run an EA or
any sort of script for automated trading? I can convert
my EA to any script provided my broker will allow scalping.

I heard that ECN brokers dont not care about scalping strategies.
I'm not sure if that is only the option.

I know how to do "Winrunner automated scripting"
that is a third party tool but I am not sure if I'll be able
to capture the Bid and Ask price of the ECN broker via a webpage.

P.S. I don't trade news just for your info

I'll appreciate all your help. Thanks!
  • #2
  • Jan 24, 2007 12:49pm Jan 24, 2007 12:49pm
  •  tesla
  • Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
I've been working with EFXGroup and they've got an API available that's been fairly easy to work with (as far as APIs go anyway). They're ECN, so you aren't guaranteed fills or stops like you might be with a dealing desk broker, but they're not going to work against you either. They halt trading twice a day (approx 5pm & Midnight Eastern) for 5-10 minutes to wind the springs or something.

They're obviously not the only choice, but I think it might be a good fit for an automated scalping system. PM me if you'd like more info about the API or help with some coding.
  • #3
  • Jan 24, 2007 12:56pm Jan 24, 2007 12:56pm
Hi tesla,

Thank you so much.
I can work with it, I'm familiar with APIs and DLLs.
I'll look at this EFXGroup.

Appreciate your help!
  • #4
  • Jan 25, 2007 9:07am Jan 25, 2007 9:07am
Hi,

efx is certainly an option. For your purpose i would reccomend a currenex-based environment tho, they have min. dealsize of 5 or 10 standard-lots most of the time, but have way cheaper commissions. Commissions are down to negotiation, if you are a scalper and do much volume you have good cards for that. As you cerftainly know, for high-frequency trading commissions/fills are crucial, and you can get half of efx's costs there. They typically provide less than 1:100 margin requirement tho.

Apparently some currenex whitelable providers have found a way of connecting mt4 to their feed. I dont know how they deal with level2, partial fills and so on(mt4 seems to be rigged towards marketmakers). Aarontrade (25k account minimum) offers mt4 + strategyrunner, atcbrokers (50k account min) offers mt4 too, with execution on cx. There may be other brokers who do that too, i dont know.

Id give them a call and see whats possible.
  • #5
  • Jan 25, 2007 9:21am Jan 25, 2007 9:21am
Quoting shrike
Hi,

efx is certainly an option. For your purpose i would reccomend a currenex-based environment tho, they have min. dealsize of 5 or 10 standard-lots most of the time, but have way cheaper commissions. Commissions are down to negotiation, if you are a scalper and do much volume you have good cards for that. As you cerftainly know, for high-frequency trading commissions/fills are crucial, and you can get half of efx's costs there. They typically provide less than 1:100 margin requirement tho.

Apparently some currenex whitelable providers have found a way of connecting mt4 to their feed. I dont know how they deal with level2, partial fills and so on(mt4 seems to be rigged towards marketmakers). Aarontrade (25k account minimum) offers mt4 + strategyrunner, atcbrokers (50k account min) offers mt4 too, with execution on cx. There may be other brokers who do that too, i dont know.

Id give them a call and see whats possible.
If they are offering a true currenex bank feed and you hit the same bank over and over that bank my contact the Prime Broker and have there feed taken off your platform they don't care for scalpers.

Also there are many white labels currenex platform that are nothing more than variable spread retail feed now IE:FXCM PRO or PROP FX
  • #6
  • Jan 25, 2007 9:43am Jan 25, 2007 9:43am
Quoting turbokaos
If they are offering a true currenex bank feed and you hit the same bank over and over that bank my contact the Prime Broker and have there feed taken off your platform they don't care for scalpers.

Also there are many white labels currenex platform that are nothing more than variable spread retail feed now IE:FXCM PRO or PROP FX
Many? I only know of prop fx (which is the same as fxcm pro), and i would never reccomend them.

Scalping is no problem on currenex (with a "real" whitelabel broker). Many people do it. It is certainly much more viable to scalp on an ecn than with any marketmaker (spread, commission, execution).
  • #7
  • Jan 25, 2007 9:44am Jan 25, 2007 9:44am
Try Interbankfx. Although I would not trust an EA with 10 lots. Do you trade all 10 lots with one pair or 10 piars with i lot each.

FJ

Quoting meltri
Brokers for Scalping 10 Standard Lots

Hello Friends,

I want to do scalp trading via my Expert Advisor(EA).
The problem is, most of the broker dont want me to
buy more than 2 standard lots because I buy and sell within
a couple of minutes.

Is there a broker that has a capability to run an EA or
any sort of script for automated trading? I can convert
my EA to any script provided my broker will allow scalping.

I heard that ECN brokers dont not care about scalping strategies.
I'm not sure if that is only the option.

I know how to do "Winrunner automated scripting"
that is a third party tool but I am not sure if I'll be able
to capture the Bid and Ask price of the ECN broker via a webpage.

P.S. I don't trade news just for your info

I'll appreciate all your help. Thanks!
Stacking pips since 2002
  • #8
  • Jan 25, 2007 9:52am Jan 25, 2007 9:52am
Quoting shrike
Many? I only know of prop fx (which is the same as fxcm pro), and i would never reccomend them.

Scalping is no problem on currenex (with a "real" whitelabel broker). Many people do it. It is certainly much more viable to scalp on an ecn than with any marketmaker (spread, commission, execution).
Sorry but I consider ATC right along w/ prop fx... They tell you same thing:
"I'm sorry we have several major banks feeding our currenex but its a company policy we can not disclose that information." I'm sorry that BS cause I have access to currenex w/ three different prime brokers and I can tell you the name of the banks feeding each one.
  • #9
  • Jan 25, 2007 10:16am Jan 25, 2007 10:16am
Thanks for your reply guys. We are in a group of four who created this
Scalping EA, based on Fuzzy Logic Theory.

We already tried this EA for 10 months and it consistently makes money every month about 15%-20%. The EA starts from 0.10 initialy from the mini account and grows tremendously within a couple of months because of Money Management built-in on the EA. Now the lots grow to 2 standard
lots and it gave a red flag to the broker that I am not allowed to scalp.

turbokaos, you seem knowledgable and have experience with brokers that
can handle us. I would really appreciate if you can give us any suggestion for any broker that will take care of us.
Thanks again my friends.

Quoting turbokaos
Sorry but I consider ATC right along w/ prop fx... They tell you same thing:
"I'm sorry we have several major banks feeding our currenex but its a company policy we can not disclose that information." I'm sorry that BS cause I have access to currenex w/ three different prime brokers and I can tell you the name of the banks feeding each one.
  • #10
  • Jan 25, 2007 10:27am Jan 25, 2007 10:27am
If you have the funding to do so I would use mutiple brokers
  • #11
  • Last Post: Jan 25, 2007 10:50am Jan 25, 2007 10:50am
Aha. Yes, it is good to diversify.
Thanks.

Quoting turbokaos
If you have the funding to do so I would use mutiple brokers
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