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Which is the best broker for scalping?

  • #61
  • Feb 21, 2012 9:31am Feb 21, 2012 9:31am
Quoting roughtrader
it's ok, we are all here to learn,
and there are no text books about scalping as far as I know,
rigid or not, scalping is what it is.
I may have over agrigated a bit when I wrote Im in for 1M max,
if mom is very high I can stay in a little bit longer and make a few more pips,
and it also depends on timeframe,
my scalping method depends on price actions relation to the crowd psychology,
momentum creates a window of oportunity and is all I need,
basically momentum tells me how long I can stay in,
the limit of TP to 5 pips is because
it's easyer...
Hi RoughTrader,

Are you scalp with their Mt4 platform?
  • #62
  • Feb 21, 2012 11:26am Feb 21, 2012 11:26am
Try GFT or Armada Markets, both have outstanding execution for scalpers.
Quoting wallstreet03
Which is the best broker for scalping ??
  • #63
  • Feb 26, 2012 6:54am Feb 26, 2012 6:54am
Quoting zu si fu
Hi RoughTrader,

Are you scalp with their Mt4 platform?
Hi! sorry I missed your post and I just saw it now by coinsidence,
to ansver your question.
no I do not scalp with MT4, I have a Currenex acount,
you can't trade Metatrader on the ECN,
before I would not advice using MT4 for scalpers because it's too slow,
but I think now it can be done thanks to their new 1-click plugin.
it enables you to get in and out fast, but even that I like Currenex more,
nothing is faster
Bulls are stupid Animals!especially when Im short!
  • #64
  • Feb 26, 2012 8:25am Feb 26, 2012 8:25am
Quoting Askandia
Try GFT or Armada Markets, both have outstanding execution for scalpers.
isnt GFT a market marker? i like Armada Markets too but how long have u been with them? I understand that AM is kinda new in the market & it uses MT4 too,any experience if it uses Virtual Plug-In?
  • #65
  • Feb 26, 2012 2:56pm Feb 26, 2012 2:56pm
Quoting fxking
isnt GFT a market marker? i like Armada Markets too but how long have u been with them? I understand that AM is kinda new in the market & it uses MT4 too,any experience if it uses Virtual Plug-In?
I just started with them. They let you trade with raw LMAX spreads. So spreads are identical to LMAX spreads as they are a preferred broker of LMAX. They do not have virtual dealer plugin, no requotes, no delays, no connection problems. My brother's company is a client of commodity trading firm Spada Capital that owns a stake in Armada. He actually referred me to Armada. So they must be good.
  • #66
  • Feb 26, 2012 6:44pm Feb 26, 2012 6:44pm
Quoting Askandia
I just started with them. They let you trade with raw LMAX spreads. So spreads are identical to LMAX spreads as they are a preferred broker of LMAX. They do not have virtual dealer plugin, no requotes, no delays, no connection problems. My brother's company is a client of commodity trading firm Spada Capital that owns a stake in Armada. He actually referred me to Armada. So they must be good.
glad to hear that but do u know how many staffs they have at estonia office? it seem to me they r running at,perhaps only 3-4 staffs operation?
  • #67
  • Feb 27, 2012 1:44am Feb 27, 2012 1:44am
Quoting fxking
glad to hear that but do u know how many staffs they have at estonia office? it seem to me they r running at,perhaps only 3-4 staffs operation?
I looked on their website that Armada Markets have two offices in Estonia, one in Florida, US and representatives around the world. I have been in contact with at least 5 people there as I wanted to know more about the company and its people. I even talked with their CEO on the phone.
  • #68
  • Feb 27, 2012 2:40am Feb 27, 2012 2:40am
Just found this on the web:
Inserted Video
  • #69
  • Feb 28, 2012 4:23am Feb 28, 2012 4:23am
here is a nice website I found with 400 brokers, take your pic
http://www.bestonlineforexbrokers.co...x-Brokers.html
for scalping you want only STP, ECN, NDD,
abolutely no market makers!
if you scalp with those you re doomed
Bulls are stupid Animals!especially when Im short!
  • #70
  • Mar 19, 2012 6:23pm Mar 19, 2012 6:23pm
Quoting forexfella
I posted this on another forum but found this thread to probably be the exact base of respondents that could help me out... see my question below...

[b][font=Arial][size=2]I started off considering MB Trading, ATC Brokers, and Interactive Brokers.

I went with ATC Brokers for now, and I think it's pretty good - decent commissions, good spread, and I like the Trading Station II platform thus far.

The reasons I am still considering switching -

- while I don't always scalp, I like the option to do...
Hi forexFella ,
Interactive Brokers is a serious ECN Platform used by professional traders not only Day traders but also even banks themselves.
I traded with them for years and can tell you that it is without doubt what it says on the tin. You can trade futures, options, fx, equities everything from all markets around the world. It is Excellent for Scalping! You can make hundreds of trades a day and each time you will get filled instantly. In fact the more you scalp the more money they will make as you will be charged a commission on top of the extremely low spreads. They want you to scalp. And they want you to make money.
The only thing I will say about them is that their customer service can be a bit kind of, well let me say, well it depends who you get through to. Another drawback is their charts are horrible. I think this is because they expect most of their customers have the bloomberg terminal.

But if you are serious about trading this is a platform that rewards any style of trading.
The more I wait the more I make
  • #71
  • Mar 19, 2012 6:40pm Mar 19, 2012 6:40pm
Quoting donagh_1
Hi forexFella ,
Interactive Brokers is a serious ECN Platform used by professional traders not only Day traders but also even banks themselves.
I traded with them for years and can tell you that it is without doubt what it says on the tin. You can trade futures, options, fx, equities everything from all markets around the world. It is Excellent for Scalping! You can make hundreds of trades a day and each time you will get filled instantly. In fact the more you scalp the more money they will make as you will be charged a commission on top of the...

Be warned the low spreads look great, but commision plus spread works out to be much the same spread as any other broker.

FXCM is the same, just the commision is built into the spread thats all.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72
  • Mar 19, 2012 7:18pm Mar 19, 2012 7:18pm
With FXCM corporate, it's the spread plus commission.

But get this - even on 2 lot orders, I am only paying $5.25 per side ($10.50 round trip) with IB! This would be $16 round trip with my FXCM account. (although with ATC/FXCM, it is $8 regardless of currency per lot, AND they scale down to minilot or even smaller orders - IB does have the minimum commission equivalent to trading one lot, if I remember correctly)

The spread + the commission will always be better than a spread only broker. Also so far, even during the last NFP, the spread barely widened to three pips for a period of 5-10 seconds (about the same on both FXCM and IB).

I do agree IB charts may not be as pretty, but they're still very functional. Also IB has the leg up on orders - the adjustable stop is very useful. I also really think their Mosaic is an improvement for new users, makes it much easier to get around to everything.

Even the customer service via ticket system has been very good thus far.

The only thing that is annoying is the mandated log off. I am working on some fully automated systems, and it's a bit of a kludge to have to work around that logoff in a non-native way (either scripting a login AHK/AutoIT tool to log you in, or setting the time in the settings back and forth, or playing with the XML settings file).

So thus far, I think for someone only looking to do Forex, and potentially automate, and not needing advanced order entry tools for manual trading, ATC is the way to go, albeit with slightly higher commissions. But for the breadth of products, better commissions, and more third party software and order entry systems, IB has the edge.

I will also mention that the FXCM data stream is tick-based, and historical to (I believe) 9 years. IB is not tick-based, and they do not provide the last trade/close price via the API from what I've seen so far, so an automatic system would probably need its own datafeed for smaller timeframe decisions.
  • #73
  • Mar 26, 2012 8:54am Mar 26, 2012 8:54am
Quoting roughtrader
Hi! sorry I missed your post and I just saw it now by coinsidence,
to ansver your question.
no I do not scalp with MT4, I have a Currenex acount,
you can't trade Metatrader on the ECN,
before I would not advice using MT4 for scalpers because it's too slow,
but I think now it can be done thanks to their new 1-click plugin.
it enables you to get in and out fast, but even that I like Currenex more,
nothing is faster

Hi Roughtrader,
I'm interesting in this feature 1-click plugin on MT4... By the chance any broker you would recomend who offers it?
thanks,
angezee
  • #74
  • Mar 27, 2012 5:30am Mar 27, 2012 5:30am
Divisa capital have it on their mt4,
I used them for scalping before and they are ok,
they are DMA ecn/stp something,
for high frequency scalping I recommend using a ECN or STP
above other types of brokers,
the only thing talking against Divisa are they are unregistred
with a regulatory body, but they proved to be a great broker for me,
for small acounts -10000 I say go for it

I also know that IBFX have it,
but they are a MM so Im not sure how they are to scalp with,
maybe re-quotes? dealingdesk? I have no experience with them.
but they offer very nice apps for free such as autochartist.

I think Admiral have it too, they are a MM aswell, dealingdesk?
I think they offer autochartist free to,
I am sure there are others too, maybe fxcm have it in their new improved mt4? they are a good broker, and I have been using them for scalping,
no requotes and no commision, but I used their other platforrm, tradingstation 2 which is way better than mt4 I think
Bulls are stupid Animals!especially when Im short!
  • #75
  • Mar 29, 2012 7:59am Mar 29, 2012 7:59am
Quoting roughtrader
Divisa capital have it on their mt4,
I used them for scalping before and they are ok,
they are DMA ecn/stp something,
for high frequency scalping I recommend using a ECN or STP
above other types of brokers,
the only thing talking against Divisa are they are unregistred
with a regulatory body, but they proved to be a great broker for me,
for small acounts -10000 I say go for it

I also know that IBFX have it,
but they are a MM so Im not sure how they are to scalp with,
maybe re-quotes? dealingdesk? I have no experience with them.
but they offer...

thanks a lot for reply, it seems like a pretty good feature 1 click execution for manual trading on mt4, I'm on IBFX demo right now... but does it really important for EA?
(I'm not a programmer and planning to buy an EA ... very new to this area ... trying to understand all worthwhile sides before I will choose a broker and EA)
  • #76
  • Mar 30, 2012 10:15am Mar 30, 2012 10:15am
Quoting Angezee
thanks a lot for reply, it seems like a pretty good feature 1 click execution for manual trading on mt4, I'm on IBFX demo right now... but does it really important for EA?
(I'm not a programmer and planning to buy an EA ... very new to this area ... trying to understand all worthwhile sides before I will choose a broker and EA)
I suggest you learn how to trade manually and understand money management and the forex market before you even think of running EA's, most of the EA's and robots for sale are loosers, nobody is going to sell a profitable EA to you, because such thing would be priceless, there are some EAs around able to make a few bux but nothing really good to make you profitable over a long period of time, if you want a really good EA you will have to make it your self or hire a programmer to put your individual ideas and knowledge into code, there are no shortcuts, if it where that simple to just buy an EA and put it to work, we would all be rich. all the EA's I have tested have a big flaw, they seem to work for a while and then bam! half of your acount or more wiped out, they are all worthless piece of junk, don't put your money at risk with that crap. the one click plugin is important only to high frequency traders who jump in and out of the market very fast, if you plan to do just normal day trading, it's really not that important. IBFX are probably a good broker to learn with since they offer micro lot acounts, and they have a substantial amount of teaching vids. once you are profitable on a live micro acount you can find a ECN broker for some more serious trading, demo acounts are good to get a feel for the platform but then move on to live trading, you should consider the money you put into the micro acount the price it will cost you to learn to trade, you will probably lose it, personally I lost 3 acount's before becoming profitable, the hardest part to master is the psychological stuff and you only get that in live trading. the key is knowledge and hard work, if you want to become a profitable trader you got to eat live and shit currencys.
Bulls are stupid Animals!especially when Im short!
  • #77
  • Apr 2, 2012 12:10pm Apr 2, 2012 12:10pm
If scalping with an automated strategy it may be a better idea to trade using a Tier 2 Prime Broker,

This will allow you to trade on a number of different platforms, allowing you to take advantage of same second price discrepancies between each platform.

Each of the major ECNs provided by Prime Brokers will have a no action range so if you do hit catch a price discrepancy you will get to keep a decent amount of your profit.
  • #78
  • Apr 3, 2012 8:45am Apr 3, 2012 8:45am
Quoting conorodr
If scalping with an automated strategy it may be a better idea to trade using a Tier 2 Prime Broker,

This will allow you to trade on a number of different platforms, allowing you to take advantage of same second price discrepancies between each platform.

Each of the major ECNs provided by Prime Brokers will have a no action range so if you do hit catch a price discrepancy you will get to keep a decent amount of your profit.
ECN's are definitely the best thing, but the problem is that you often can't trade micro lots with them, thats a problem for begining traders not having so much capital to start with, the minimum capital for a ECN's and mini lots would be 10000 dollars otherwice you would be overtrading your acount with to large lot sizes and the acount will eventually be lost to poor risk management, You probably mean institutional type of brokers like Hotspot, but to trade with such broker you often need bucket loads of money, often needed is acounts 100.000 and larger up to 2 million dollars to even be allowed to sign up for an acount with these guys, and you are only supposed to trade with money you can loose without any concern, who can loose 2 million dollars or even 100000 without crying blood? I guess they are not interested in small money, if you know of any Tier2 allowing small individual acounts I would be interested to hear about it. I still think that for begining traders not having 10000 and above, a good STP broker allowing microlots can be good as a learning ground and a place to start with, and once they are profitable and got more than 10000 they can move on to ECN's
Bulls are stupid Animals!especially when Im short!
  • #79
  • Apr 3, 2012 8:49am Apr 3, 2012 8:49am
Quoting conorodr
If scalping with an automated strategy it may be a better idea to trade using a Tier 2 Prime Broker,

This will allow you to trade on a number of different platforms, allowing you to take advantage of same second price discrepancies between each platform.

Each of the major ECNs provided by Prime Brokers will have a no action range so if you do hit catch a price discrepancy you will get to keep a decent amount of your profit.
vcapfx.com
  • #80
  • Apr 4, 2012 2:34am Apr 4, 2012 2:34am
Quoting PoundTrader
vcapfx.com
Thanks for the tip, how much is the min deposit on vcap?
Bulls are stupid Animals!especially when Im short!
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