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ECN/broker/futures for extreme scalping

  • #1
  • First Post: Jan 4, 2014 4:13am Jan 4, 2014 4:13am
hello guys,
after lot of hard work , lot screen time and real / demo trading i want to start with a little more money (1000-3000).
i have a scalping strategie with 1-3 pip stop so i need a solid spread and a very small one.
i tried alpari.uk mt5 evc but the spread variate very extreme ( from 0.6 to 1.5) and i can not work with this because my stops often get filled
althought there was no break etc. so maybe someone can help me?

what is the best for my situation (scalping with extrem low stop)?

lot regards
  • #2
  • Jan 5, 2014 3:00am Jan 5, 2014 3:00am
Hmm,
This is complex as 1-3 pip stops are really tight. There are few brokers who can offer an average spread of less than 0.5 with few spikes and Alpari ECN is one of those. I am not even sure if there is a broker that is a viable option. Also, try using VPS with low latency to control scalping trades.
  • #3
  • Jan 6, 2014 3:58am Jan 6, 2014 3:58am
Generally speaking, There is a difference of opinions about brokers, some brokers pretend to be True ECN brokers which are market makers in reality. If you are really looking for a ECN broker than you may look for Dukascopy/LMAX Brokers. They have a good reputation and they both disclose their liquidity providers.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #4
  • Jan 7, 2014 6:01am Jan 7, 2014 6:01am
Ahmer is correct regading the nature of ECN marketing. However, a true retail ECN platform is still developing. Whereas both Lmax and Dukascopy offer ECN services, I dont think their services are any different from others (spread wise & looking at your requirements)..Also, both these brokers require high initial capital
  • #5
  • Mar 6, 2014 1:44pm Mar 6, 2014 1:44pm
I don't believe that you will find a brooker with such a low spread because they also making money from spreads lets dont forgot that too.Also some paris has spread 1,5-2-3 and others can have 4-5 for example EUR/USD has 2,5 and the pair that i trade GBP/NZD has 5.Each brooker puts differents spreads on pairs.GBP/NZD at 00:00 pm spread goes to 10 - 20 lol....
  • #6
  • Mar 6, 2014 5:15pm Mar 6, 2014 5:15pm
with futures you will get 1 tick spread with currencies in normal volume times ! try sim ..
  • #7
  • Mar 13, 2014 9:31am Mar 13, 2014 9:31am
Quoting fx75
with futures you will get 1 tick spread with currencies in normal volume times ! try sim ..
Yes, IC Markets has the lowest spread on futures, CFD's. you go into profit straight on second tick at FTSE, DJIA. EUR/USD spread is 0.0 pips.
Real Time Discounts for IC Markets. Partner ID = 1695
  • #8
  • Mar 15, 2014 4:16pm Mar 15, 2014 4:16pm
Someone mentioned Dukascopy here - I would not recommend them due to their high commissions per each trade (unless you hold a very big amount of money on the trading account which gives commission discounts)

I went for IC Markets - they have both tight spreads (for EUR/USD 0.0-0.2 pips) with reasonable commission BUT I am really struggling with the order execution latency and I think I will go looking for another broker... on their live "True ECN" account sometimes it takes as many as 4 seconds during peak times before my order gets executed and usually the price is somewhere else by then...
  • #9
  • May 23, 2014 12:18pm May 23, 2014 12:18pm
I also found similar results.
1.
IC markets' spread has been quite good, but when it comes to execution, its speed is relatively slow.
I have tried their MT4 and cTrader, no big difference, they both take around 200-700 ms per trade.
(I have ping my computer to the server, and the latency is less than 50 ms, so most of the time is spent after client end's order is received).

2.
If we simply talking about spread, FXOPEN (AUorUK) ECN shows even prettier numbers.
I also tested their execution time, and it is usually 200~400 ms.
Another ECN broker, Price Markets (belong to LCG) also has quite pretty spread, but its execution time is also at this range.

3.
I also found many reviews and comments, and seem like LMAX and Dukascopy can be some choices to consider if one is looking for a good ECN with fast execution time. I havent tried both, but I will, and hopefully to get some positive results.


*LMAX claim their execution time is about 4ms, which is really attractive, and I will test it to see if it is true.
*Some reviews and comments complains Duka sometimes has slow execution, I will find out.
*I surprisingly found out there are so many retailed trades and many users in forex forum, but there are very few really test the execution time and post their results. It is really common to hear slippage and claims slow, but without constantly monitoring and some static results, I think it is very difficult to judge.

Wjack
  • #10
  • May 25, 2014 7:42pm May 25, 2014 7:42pm
Hey guys I was really attracted to FxOpen ECN for those spreads and reputation to be one of the best broker for scalping, I've been a bit disappointed:
-Execution time is in average really fast but suddenly can increase to 4s for the next close
-The spread (I'm trading on london/Sydney hours) is rarely below 3 pips on majors
-The commission sounds okay but if you trade a lot intraday huge volumes you can truly see the gap in your gain.

Quick example: I'm working on a M30 candles scalper (backed by a martingale as it's winrate is over 70% but this is another topic ahah I know a lot of people here don't want to hear about that)

And I'm paying almost as much in commission as I make profit, and this is a demo so the real would be worse with the higher latency so less profitabe volumes traded:
https://www.myfxbook.com/portfolio/m...ingales/922637

See ya
You'll always miss 100% of the shots you don't take.
  • #11
  • May 25, 2014 10:32pm May 25, 2014 10:32pm
Quoting Edorenta
Hey guys I was really attracted to FxOpen ECN for those spreads and reputation to be one of the best broker for scalping, I've been a bit disappointed: -Execution time is in average really fast but suddenly can increase to 4s for the next close -The spread (I'm trading on london/Sydney hours) is rarely below 3 pips on majors -The commission sounds okay but if you trade a lot intraday huge volumes you can truly see the gap in your gain. Quick example: I'm working on a M30 candles scalper (backed by a martingale as it's winrate is over 70% but this...
An ECN is whereby you can bid and offer inside the spread so are you telling us you cant do that ?
  • #12
  • May 26, 2014 3:03am May 26, 2014 3:03am
Quoting masterofpepe
Someone mentioned Dukascopy here - I would not recommend them due to their high commissions per each trade (unless you hold a very big amount of money on the trading account which gives commission discounts) I went for IC Markets - they have both tight spreads (for EUR/USD 0.0-0.2 pips) with reasonable commission BUT I am really struggling with the order execution latency and I think I will go looking for another broker... on their live "True ECN" account sometimes it takes as many as 4 seconds during peak times before my order gets executed and...
4 seconds during peak time..? IC Markets head of trading has requested you contact him directly for this. Please PM me for his email.
  • #13
  • May 30, 2014 10:38am May 30, 2014 10:38am
Quoting masterofpepe
Someone mentioned Dukascopy here - I would not recommend them due to their high commissions per each trade
Yes, but IC Markets have the same high commission $7 per round-turn. But you can use cash-back strategies with both of them.
Return To Disorder
  • #14
  • Jun 2, 2014 5:21am Jun 2, 2014 5:21am
If you are looking for a forex broker, you might find useful the forex search tools.
Here are super cool forex broker search tools, where you can filter the information by what you need to get as the result.
They have different search criteria and a storage of 50 to more forex brokers to compare with.
The best in my opinion are the following ones:
http://fxbrokersearch.com/forex-brokers/
http://www.forexspeedtest.com/detail...h/category/327
http://www.fxempire.com/forex-brokers/directory/
http://forex.findthebest.com/
I think its also a good way to find out which is the best broker for you!
Good luck!
  • #15
  • Last Post: Jun 2, 2014 6:02am Jun 2, 2014 6:02am
Quoting fxtown
If you are looking for a forex broker, you might find useful the forex search tools. Here are super cool forex broker search tools, where you can filter the information by what you need to get as the result. They have different search criteria and a storage of 50 to more forex brokers to compare with. The best in my opinion are the following ones: http://fxbrokersearch.com/forex-brokers/ http://www.forexspeedtest.com/detail...h/category/327 http://www.fxempire.com/forex-brokers/directory/ http://forex.findthebest.com/...
Wow, great job.. thanks for the links
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