Scalpers favorite broker

Hi Im new to forex. Has anyone tried ironfx.com? ive been looking online but there seems like not many people are giving feedback on this broker. im looking to scalp, and on mt4 demo this broker looks okay

I am trying them out with a small account. No problems so far...

why would you open an account with IronFX

as per its website "ts main trading operation in Cyprus." so if you have a problem with your account who are you going to complain to? what steps will you take to recover your money? If there is a problem you have none zero zippo chance of getting any help.... why take the risk in cyprus with so many other brokers good regulated brokers out there

To the OP or anyone else.

Is scalping the only thing you do?

What is your definition of scalping?

What length of time are you in a trade?

I am not trying to get off topic, just asking to make the clearest suggestion.

Hi,

My favorite scalping platform is FxPro's cTrader. I've wrote a review about it here. Withdrawal was fast and easy.

I've tried FxPro's MT4 platform too, but I do not recommend it. It's just impossible to get into the market during volatile time. Their quotes lag and you will be requoted every single time.

To find a good broker for scalping. Fact, it won't provide you great trading conditions forever.

I heard some brokers has teams that develop tools and tricks against the scalping.

Trader fights not only against his fear and greed, but also broker and its tricks.

Regards,

Josef

Exness

Low Spread , Auto depo and withdrawal

Today they had an DDOS attack, all my trades that is loss during the server downtime is compensated.

I'm an American, so keep that in mind. You should look into:

MB Trading (my broker): Pay for limits can really lower your costs. They're introducing a new commission rate this week though.

Alpari US Pro: Air-tight spreads.

grimReaper, so many traders complain of the constant requotes with Alpari... Do you have requote issues while scalping?

Have a look to their location, regulation and management.

Regards,

Josef

As I mentioned, my broker is MB. However, are the complaints with Alpari US Direct or with Alpari US Direct Pro? Alpari Pro is supposedly an ECN.

it depends what your definition of scalping is,
how many trades do you do per day?

I would like to make a comment on scalping as a trading strategy. I have nothing against scalping and scalping can be a hugely profitable trading strategy when you are competent enough to react fast to the volatile ticks movement.

In light of high frequency trading strategy employed by the big boy, where computer can open and close a single order within a mini-second and thousands of orders are completed within a single second, do you think the human eye and finger can react faster then that?

In the high frequency trading business, the competitive differentiator goes down to who can squeeze that additional mini-second out of their server latency to the exchange server. Direct lease line connection to the exchange server that many professional trader used for their scalping is stone-age history, akin to pitting a vintage motor vehicle against the F1 formula racer, if you can imagine. I foresee exchange server even going virtual and leasing out virtual server to high frequency trader. These high frequency trading virtual server is basically residing within the same base operating system as the exchange server. What this means is that the order from the trader server need only to traverse the server internal circuit bus to reach exchange server. There will be almost zero network latency (saved for the virtual network latency in the trader's virtual server) to speak.

I foresee a human limit in the scalping method going forward when pitted against the machine. It is therefore prudent to develop a non-scalping trading method alongside your scalping method and not wait for the day when human scalping are history.

Just a personal view for your consideration.

what you are talking about is pure fantasy.
opening and closing a single order within a mini-second and thousands of orders are completed
within a single second and be in profit are just not possible for any trader, the trader must overcome the spread and commision,
therefore if he closing his position within a second he will be minus on his trade,
that will only be possible if the price moves more than the spread and comission within a second and that don't happend often.
Im not saying it's impossible, sure price can move sometimes in breakouts and such situations
and I think that is the only case this system would be usable,
then this thing would not make it a high frequency trading system as you imply,
because there is a long wait between breakouts, it wouldn't even anywhere near a scalping strategy.
a scalper would probably have made hundreds of trades before
your computer system at last finds a breakout to trade,
so no, your system will be killed compared to a scalper,
if someone is able to trade without spread and comission, then maybe,
but I think even the banks pay the spread

The term scalping means different things to different people. To most what it really means is as follows:

Scalping: You long or short a currency pair and as soon as you hit profit you close out and wait for the next trade, sometimes its within seconds sometimes you will wait a hour or more.

The idea that scalpers sit here and all trades are seconds is SILLY!

I have done 100+ trades in a day using the above method, sometimes while ill wait for one trade to workout ill continue trading away.

A picture speaks a thousand words.



If anything, just treat the video as information on what the big boys are doing.

Pick your battleground wisely. Don't stand in front of the oncoming train.

real scalping dont work with mt4 ..
not eur/usd

only 6E the real euro and rithmic

check out
hxxp://www.visionfinancialmarkets.com/futures/services/platforms/?id=cfx

http://screencast.com/t/4Dl9hqYuSLV5

Scalping is fun but stressful.
I have both a scalping strategy and a medium term strategy.

I don't think with who I should mostly disagree or agree. Uber HFT can't migate the spread and is because of that mostly a form of a market making algo. Most of this HFT algos need the low latency connection so they can adapt their order book on incoming market orders. Plus the slower they are the more other market makers can frontrun their limit orders as to put their orders 0,1 pip before them. There is a whole division in market making firms on order routing, expousure of the order book etc. that sole purpose is to hide their algo from beeing suceffuly analized on the order positioning by prime brokers.

Scalping and HFT have nothing in common since the HFT barrier is ~30 ms and lower and human reaction time is 0,4 sec, except the successful scalping is mostly done by limit orders. This is what I've experienced and can say that if you want to do it wit the market orders you will need to make an algo to do that to put yourself out of the equation. On forex spot I would say that anything below 10 pips can qualify as scalping but 10 to 20 pips is also sometimes refereed the same especially when the daily range is about 200 pips. Most of the scalpers widen their profit targets in high volatile situations also.

That 60 minute on trading is a whole different world because on wall street there are other stuff that come into equation like flash orders etc. And also as said mt4 is not a platform for ultra small scalping (mostly because of the brokers that use it and their slow technology, because you could theoretically pull it off with pure limit orders if they are put out in the brokers order book.). If you can't get currenex, icap ebs, integral or similar platform I would stay away trying to get anything below 5 pips because the spread + slippage would eat you. And someone mentioned that banks pay the spread - since most of the banks like Deutsche Bank, JP Morgan, Barclay FX division etc. is in the form of a market maker they don't pay it on the majority of their transactions.

interesting clip! thanks for sharing,
but the use and speed of computers is missunderstod,
it's not about buying and selling a position within a second,
that would not be profitable, not even by these computers.
it's about buying and selling hundreds of positions or even tousands simultaniously,
but they hold them a lot longer than 1 second!!
they still have the spread to overcome,
it doesn't matter how fast computer you have.

I totally agree about MT4 is totally useless for scalping,
something with a DOM is the best thing,