Best broker for my needs?

Hi there .. I need a broker with the following qualities ...

1. 1pip spread or less, on more that 1 currency.
2. Instant millisecond excecutions.
3. Little Requotes.
4. Quite a small minimum account size.. Prefurably under $200

I have an extreamly short term scalping method. I was useing a demo account with FIG FX and did perfectly... but as soon as I went on to a live account order excecutions took forever and trades didnt work out.Could you please refur me to a broker you have used on a live account with more or less the specifications of the above?

(Does not need to be on a Metatrader 4 platform, but must have live tick charts in the trade station like metatrader does)

Thanks so much.!

I'd say Oanda but the max leverage is 1:50 and you're scalper...
I don't know what would fit you.

Hello Xlr8er,

I just wanted to comment here, and be realistic.

Frankly if you are looking with a broker with these specifications you will never find one. My first advice of course is an ECN broker. That is always the closest you will get to your demo account. But if you think for one second that demo accounts reflect ECN trading that is a very big mis understanding forex community always estimates. and thats in regards to execution.

In regards to the amount you want to open an account with, True ECN brokers usually will have their minimum deposits multiples of the amount that you intend to open with. In addition to that true ECN brokers will provide you with a minimum trading lot size of 0.1 lots, so i wouldn't suggest anything less than a $1,000.00 US thats taking into considearation that you will open 0.1 lot at a time to avoid the risk.

In addition to that leverage is usually 1:100. so 0.1 lots will be around 10 - 15% of your margin requirement, so please take care.

I hope i have been informative and if you need further clarification will be more than happy to provide so.

Cheers.

Thanks alot will give it a look ... any other ideas anyone ?

try fxopen with $1 accounts, they allow hedging, they allow everything you want in forex trading

as long as you are not making money from them

Agree. They have instant execution, NO re-quotes, small account / trade sizes.

No tick charts... they have 5-second charts.

*and spreads widen at news time. You can not trade the news.

Oanda? With their 50:1 leverage and his maximum account size of $200 he'd only be able to trade a maximum of 1 mini lot usd/jpy and not even that with eur and gbp pairs...

This is a major downside to Oanda. Whereas the spread with many other brokers have settled to a more reasonable level, Oanda has continued with unreasonably wide spreads during news.

Thanks for all the help !! So the quest for a broker carries on! I like fxopen tho they are quite good ...! Just that $1000 is a problem haha staying in South Africa the exchange rate to USD kills us over here haha...

Thanks ! !