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Scalping Crown FX Live Account

  • #1
  • First Post: Feb 11, 2007 3:15am Feb 11, 2007 3:15am
Hi,
is there anybody who is Scalping Crown FX with a Live Account?

I am planning to do this but are wondering about their reliability.

In fact is there anybody running a live account with Crown?

If so I would like to know your experience.

thanks
mairangi
  • #2
  • Feb 11, 2007 5:38pm Feb 11, 2007 5:38pm
Dear Sir / Madam:

Scalping Rules:
- General definition: A trading strategy that attempts to make many transactions on small price chenges.
- CFSA definition: Our definition of a "Scalper" is when the average difference between IN or OUT price to the last decimal point of all lots traded within any two trading bussiness days time, ARE 6 OR LESS PIPS.

* Scalping is allowed under the following conditions:
3 pips spread accounts.
Maximum leverage at 1:100 (fixed margin requirements of 1000$ per standard lot).
Depending on how aggressive the scalper is; a commission per standard lot or an increase in the spread may apply.

When this policy is applied to a client, the decision then will be none negotiable.


Best Regards
Crown Forex Live chat Team
Tel : +41 32 320 7070
Fax : +41 32 320 7079
StopLoss is for none belivers... Trust the Gurus..
  • #3
  • Apr 3, 2008 5:54pm Apr 3, 2008 5:54pm
Damn! I knew a one pip spread was too good to be true. so much for that idea! - Ill stick with my existing broker. I get 2 pip fixed spread on EUR, JPY, AUD, EUR/GBP and can scalp till my hearts content without any conditions or restrictions or added cost.
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  • #4
  • Apr 3, 2008 11:51pm Apr 3, 2008 11:51pm
Quoting M.A.C.Doug
Damn! I knew a one pip spread was too good to be true. so much for that idea! - Ill stick with my existing broker. I get 2 pip fixed spread on EUR, JPY, AUD, EUR/GBP and can scalp till my hearts content without any conditions or restrictions or added cost.
Oanda's spread on EUR/USD is typically 0.9 pips. I'm not sure whether they'll increase it if you start winning, but they'd certainly give you a better chance than Crown.
  • #5
  • Apr 4, 2008 4:31am Apr 4, 2008 4:31am
Quoting M.A.C.Doug
Damn! I knew a one pip spread was too good to be true. so much for that idea! - Ill stick with my existing broker. I get 2 pip fixed spread on EUR, JPY, AUD, EUR/GBP and can scalp till my hearts content without any conditions or restrictions or added cost.
Which broker would that be?
  • #6
  • Apr 4, 2008 11:48pm Apr 4, 2008 11:48pm
Quoting PipStar
Which broker would that be?
CMCmarkets. They are one of the preferred brokers on FF (as is Crown). The smallest trade size is 1 mini lot but you can increment up in micro lots or even smaller after that. This is great for accurate risk management and compounding. The down side is you cannot attatch both a limit and a stop to a pending order like you can with MT4 brokers. They are working on making that improvement I believe. The charting package is superb and I like the 3 pip spread on EUR/JPY which considering the volatility, is probably even better than 2 pips on EUR/USD. If I find a tighter spread with such a user friendly platform I would take it. I tried FXCM no dealing desk for a while and while its platform is poetry in motion, the spread was rarely better than cmc's fixed spread and often much worse. I am currently looking at MBT and Hotspot ECN's which do have tighter spreads even with commision but the platforms seem so clumsy so far
BTC Return This Year: na
  • #7
  • Apr 4, 2008 11:52pm Apr 4, 2008 11:52pm
Quoting PipStar
Which broker would that be?
CMCmarkets. They are one of the preferred brokers on FF (as is Crown). The smallest trade size is 1 mini lot but you can increment up in micro lots or even smaller after that. This is great for accurate risk management and compounding. The down side is you cannot attatch both a limit and a stop to a pending order like you can with MT4 brokers. They are working on making that improvement I believe. The charting package is superb and I like the 3 pip spread on EUR/JPY which considering the volatility, is probably even better than 2 pips on EUR/USD. If I find a tighter spread with such a user friendly platform I would take it. I tried FXCM no dealing desk for a while and while its platform is poetry in motion, the spread was rarely better than cmc's fixed spread and often much worse. I am currently looking at MBT and Hotspot ECN's but the platforms do not compare
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  • #8
  • Apr 5, 2008 3:40am Apr 5, 2008 3:40am
Isn't CMC a spreadbetting broker?
  • #9
  • Apr 5, 2008 5:01am Apr 5, 2008 5:01am
Quoting lillelise
Dear Sir / Madam:

Scalping Rules:
- General definition: A trading strategy that attempts to make many transactions on small price chenges.
- CFSA definition: Our definition of a "Scalper" is when the average difference between IN or OUT price to the last decimal point of all lots traded within any two trading bussiness days time, ARE 6 OR LESS PIPS.

* Scalping is allowed under the following conditions:
3 pips spread accounts.
Maximum leverage at 1:100 (fixed margin requirements of 1000$ per standard lot).
Depending on how aggressive the scalper is; a commission per standard lot or an increase in the spread may apply.

When this policy is applied to a client, the decision then will be none negotiable.


Best Regards
Crown Forex Live chat Team
Tel : +41 32 320 7070
Fax : +41 32 320 7079
Nice. So Crown Forex is from Denmark ?
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  • #10
  • Edited 5:45am Apr 5, 2008 5:26am | Edited 5:45am
Quoting mairangi
Hi,
is there anybody who is Scalping Crown FX with a Live Account?

I am planning to do this but are wondering about their reliability.

In fact is there anybody running a live account with Crown?

If so I would like to know your experience.

thanks
mairangi
Hi Mairangi,

Better tell your boss this. Work together with a private Jurasian bank in Delemont and have the possibility for the clients to have their funds in their (clents') name at that private bank. Maybe use the Cantonal bank. In this internet age, you can always cut cost by doing the electronic transfer paying a lower labor cost worker based from a foreign country.
This way you will get more clients than doing any other stuffs.
That will also eliminates questions about the capital of the company, nationality based of any company etc.- that is the ultimate trust one can offer to any trader.

Information for traders - If any swiss bank go down, the Government assures you up to CHF30'000.- of your money back. So you need just to open several accounts to secure larger amounts. If a broker can offer to have your funds in your name, in a private bank, your funds will be safe. Forget about getting an extra pip here and there if you are really a trader. Your priority is to secure your funds !!!
  • #11
  • Apr 5, 2008 6:00am Apr 5, 2008 6:00am
Quoting highway
Hi Mairangi,

Better tell your boss this. Work together with a private Jurasian bank in Delemont and have the possibility for the clients to have their funds in their (clents') name at that private bank. Maybe use the Cantonal bank. In this internet age, you can always cut cost by doing the electronic transfer paying a lower labor cost worker based from a foreign country.
This way you will get more clients than doing any other stuffs.
That will also eliminates questions about the capital of the company, nationality based of any company etc.- that is the ultimate trust one can offer to any trader.

Information for traders - If any swiss bank go down, the Government assures you up to CHF30'000.- of your money back. So you need just to open several accounts to secure larger amounts. If a broker can offer to have your funds in your name, in a private bank, your funds will be safe. Forget about getting an extra pip here and there if you are really a trader. Your priority is to secure your funds !!!
the guy was asking about the reliability/speed of execution of crown forex live account. and you are talking about security of funds... irrelevant answer :S:S:SS:S
When life gives you lemons, make lemonade
  • #12
  • Edited 6:50am Apr 5, 2008 6:06am | Edited 6:50am
Quoting micho
the guy was asking about the reliability/speed of execution of crown forex live account. and you are talking about security of funds... irrelevant answer :S:S:SS:S
Really??
If a broker wants an intro, you think FF will allow it?
Why is a swiis broker answering a post from Denmark ?
I wrote it for people who have brains to analyse the bigger picture.

By looking at you posts, it seems to me you had been trying to clear the way to get the publicity in. A look back since you joined yesterday, doesn't show otherwise.
  • #13
  • Apr 5, 2008 6:22am Apr 5, 2008 6:22am
Quoting drummer486
Oanda's spread on EUR/USD is typically 0.9 pips. I'm not sure whether they'll increase it if you start winning, but they'd certainly give you a better chance than Crown.
They don't increase the spread. It's the same no matter if you trade 1,000 units or up to 10,000,000 (100 standard lot). I've did some testing up to 5 standard lot (500,000 units) to see if there are differences in filling (slippage) or spread, but I always got the same fills, the same slippage.

I think Oanda is great for scalping, you get instant fills, almost no slippage. Just avoid to trade during news because of their wide spreads then - but that's almost true for every market maker.

Regards - Xaron
  • #14
  • Apr 5, 2008 6:49am Apr 5, 2008 6:49am
Quoting Xaron
They don't increase the spread. It's the same no matter if you trade 1,000 units or up to 10,000,000 (100 standard lot). I've did some testing up to 5 standard lot (500,000 units) to see if there are differences in filling (slippage) or spread, but I always got the same fills, the same slippage.

I think Oanda is great for scalping, you get instant fills, almost no slippage. Just avoid to trade during news because of their wide spreads then - but that's almost true for every market maker.

Regards - Xaron
Oanda is well capitalised. The majority of the members in our chatroom ( China, Europe, US, Canada, Pakistan .S.E. Asia etc ) use Oanda. Just don't try to trade during extreemly volatile news - spreads widen !. You can make as much profit as you want - you won't have problems with them. Withdrawing your profits with NO problems. We also scalp but not trading spikes where a trade is in and out within seconds.
  • #15
  • Apr 5, 2008 11:02am Apr 5, 2008 11:02am
Quoting highway
Really??
If a broker wants an intro, you think FF will allow it?
Why is a swiis broker answering a post from Denmark ?
I wrote it for people who have brains to analyse the bigger picture.

By looking at you posts, it seems to me you had been trying to clear the way to get the publicity in. A look back since you joined yesterday, doesn't show otherwise.
I don't get it, what publicity are you talking about?? I also opened an account with crown, but still waiting for the deposit next week. I want to know about their execution speed just like the guy who opened the thread
When life gives you lemons, make lemonade
  • #16
  • Apr 7, 2008 4:47am Apr 7, 2008 4:47am
Quoting forexmoments
Isn't CMC a spreadbetting broker?
Yes they are, but arent they all? what broker offering FX on margin doesent qualify as a spreadbetting marketmaker?
BTC Return This Year: na
  • #17
  • Aug 23, 2008 5:06am Aug 23, 2008 5:06am
Quoting highway
Nice. So Crown Forex is from Denmark ?
NOman Crown forex SA is not from Denmark they started in Jordan then they moved to Switzerland they have the lowest spreads for majors its 1 pips and if u looking for broker to scalp with so don't try CFSA bcz its sending lots or routing no instant execute always there r routing maybe bcz am trading news spikes time i lost 75% of my acc size cz of that stupid routing i remember it sent me 5 routing till losing hit 50% of margin it was too bad experience ---- also pending orders is tooo far of order position or actual position its 31 pip BUT its Tight spreads for majors during news time there r no commissions no overnight no swap nothing they offer lots of pairs gold oil fast live support they always answer phones lots of langs are available in live support its really good but not for
SCALPER SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
Not by Might , Nor by Power .But by my spirit, Saith The LORD of Hosts
  • #18
  • Aug 25, 2008 1:01pm Aug 25, 2008 1:01pm
The best way to scalp the market is when your broker can freeze a price for some seconds.. For example: At easy forex you can freeze current price for 2 seconds and you'll be 100% filled if you click on it within this time.
At Forex Club they uses RFQ System. So, in order to make a trade you have to request a two-way quote, and it guaranteed for 4 seconds. As long as you place your trade in that time, you will get your trade at that price.

Cheers!
  • #19
  • Last Post: Aug 25, 2008 2:54pm Aug 25, 2008 2:54pm
My impression about Crown FX is that they do not hedge customers positions. Since 95% of the traders lose money, this is a very lucrative business and that's why those (very good) conditions like very small spread or "no swap" can be offered.
Forex is a losers game.
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