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Which is the best broker for scalping?

  • #1
  • First Post: May 19, 2010 5:15pm May 19, 2010 5:15pm
Which is the best broker for scalping ??
  • #2
  • May 19, 2010 11:50pm May 19, 2010 11:50pm
depends on your startup capital...

less then 10k, oanda.

2.5-5k.. you could try FXDD's powertrader, but know it's not true CNX, it's viking CNX, I still choose oanda. But, out of all those ECN's, they do give the best deal on commission that I know of. spreads are ok.

10K.. IB is ok, comm is high, but spreads and liquidity are good. Lots of people like booktrader for scalping. (i would still stick with oanda personally)

25k-50k.. LCG CNX. I think it's 50k startup but can be negotiated I believe.

you have more then that?
  • #3
  • May 20, 2010 12:41am May 20, 2010 12:41am
FxPro still the narrowest spread provider?
  • #4
  • May 20, 2010 12:54am May 20, 2010 12:54am
ahh one other option I know of for non-U.S clients that might be nice... MF Global... haven't tried them though... 5k startup I believe?? I am in the U.S so I can't use them. not sure if anyone uses them, but if so let us know how it is.
  • #5
  • May 20, 2010 1:04am May 20, 2010 1:04am
Don't lose your time and money with Oanda, FxPro and scalping Forex.
Is dangerous and expensive.
You can't wait seconds for a order to be exec. or pay a lot a commis. to a ECN.They will kill you in a long run.
Try to scalp futures.
  • #6
  • May 20, 2010 1:17am May 20, 2010 1:17am
scalping futures.. lol no thanks.

i am not waiting seconds and liquidity is better in forex. all markets are risky and dangerous.
  • #7
  • May 20, 2010 2:59am May 20, 2010 2:59am
Quoting Monroe
scalping futures.. lol no thanks.

i am not waiting seconds and liquidity is better in forex. all markets are risky and dangerous.
Did you ever trade futures?
If No please don't answer.I don't lose a second to read your replay.
Peace
  • #8
  • May 20, 2010 3:04am May 20, 2010 3:04am
Hi Future,

Is there any advantage to trade future, compared to spot?

cheers,
  • #9
  • May 20, 2010 3:12am May 20, 2010 3:12am
Quoting kk007
Hi Future,

Is there any advantage to trade future, compared to spot?

cheers,
scalping, YES:

 

  1. High speed trade execution
  2. Vast capabilities to facilitate the most complex and demanding trading
  3. Direct market access and central counterparty clearing
  4. Fairness, transparency and anonymity
  5. Global distribution and international hubs
  6. Very cheap

have a look at http://www.cmegroup.com/globex/index.html

  • #10
  • May 20, 2010 3:17am May 20, 2010 3:17am
Scalping forex is not a waste of time, and very profitable. Scalping futures is a waste of time IMO.

I have watched futures, not traded, but they are not as liquid, don't move as much, and spread and commissions are not as tight as the forex market can offer.

forex is much more profitable.

nothing in the futures market can compare to EU spot fx.
  • #11
  • May 20, 2010 3:23am May 20, 2010 3:23am
Spot market brokers told me virtually the same things as below. lol

Quoting futures
scalping, YES:

 

  1. High speed trade execution
  2. Vast capabilities to facilitate the most complex and demanding trading
  3. Direct market access and central counterparty clearing
  4. Fairness, transparency and anonymity
  5. Global distribution and international hubs
  6. Very cheap

have a look at http://www.cmegroup.com/globex/index.html

  • #12
  • May 20, 2010 3:28am May 20, 2010 3:28am
Quoting Monroe
Scalping forex is not a waste of time, and very profitable. Scalping futures is a waste of time IMO.

I have watched futures, not traded, but they are not as liquid, don't move as much, and spread and commissions are not as tight as the forex market can offer.

forex is much more profitable.

nothing in the futures market can compare to EU spot fx.
what do you mean you have watched futures?
Where? Broker?
  • #13
  • May 20, 2010 3:32am May 20, 2010 3:32am
Quoting kk007
Spot market brokers told me virtually the same things as below. lol
Lol I know.
Open a demo account to trade futures and you'll see what I'm talking about.
Edit:But is good to know that the demo accounts are worse that the real one's.
  • #14
  • May 20, 2010 3:38am May 20, 2010 3:38am
Quoting Monroe

less then 10k, oanda.
Really? Ive only heard bad things about their spreads from scalpers. This is the first time Ive ever seen them recco'd in this regard.
  • #15
  • May 20, 2010 3:46am May 20, 2010 3:46am
there spread is quite good as is their execution and platform. I am fine with them. What are those scalpers recommending? I can't see anything better for low equity traders, fxcm micro used to be ok, now... completely sucks.

futures: I had the Mirus futures feed, where? on my computer screen.
  • #16
  • May 20, 2010 4:50am May 20, 2010 4:50am
Quoting traderjai_inhi
Really? Ive only heard bad things about their spreads from scalpers. This is the first time Ive ever seen them recco'd in this regard.
Oanda is actually very good for scalping.
There used to be some technical issues around the time they introduced 1click trading, but these are gone now for more than a year.
  • #17
  • May 20, 2010 6:05am May 20, 2010 6:05am
one of the best brokers in my opinion for scalping is fxopen, since they are an ecn, with mt4. awesome.
  • #18
  • May 20, 2010 6:17am May 20, 2010 6:17am
mt4 is a horrible scalping platform. I have no experience with fxopen but I would beware with an ECN broker that only takes 1k to startup. Are they charging commissions? It's most likely a market maker model. It might be STP, but incoming data can and will be manipulated.
  • #19
  • May 20, 2010 6:52am May 20, 2010 6:52am
btw, pescador is right, oanda had technical problems with there platform and servers awhile ago. They definitely fixed a few things. Try them out.
  • #20
  • May 20, 2010 6:56am May 20, 2010 6:56am
Quoting futures
scalping, YES:

 

  1. High speed trade execution
  2. Vast capabilities to facilitate the most complex and demanding trading
  3. Direct market access and central counterparty clearing
  4. Fairness, transparency and anonymity
  5. Global distribution and international hubs
  6. Very cheap

have a look at http://www.cmegroup.com/globex/index.html

You forgot to add the sucky contract sizing of 125K.

What do I do if I have 2 contracts on (250K) and want to close only 200K? I can't.
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