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Best Broker for Extreme Scalper - When Spreads Matter

  • #41
  • Jun 6, 2014 8:16am Jun 6, 2014 8:16am
Quoting MKFXTrader
Anyone have a link to Armada? Is it an ECN? Is it regulated? Thx
Just Google Armada Markets!

Ist regulated and true ECN
  • #42
  • Jun 6, 2014 11:43am Jun 6, 2014 11:43am
Quoting Jeffray
{quote} Just Google Armada Markets! Ist regulated and true ECN
Are they located in Estonia?
  • #43
  • Jun 6, 2014 11:57am Jun 6, 2014 11:57am
Currently with LCGFX in London and am a scalper myself most of the time. So assuming execution speed and liquidity as a must its all about the total turnaround cost.

So, slippage + commission + spread…………….

Am having a look around myself at the moment, is good for the customer today as lots of competition forcing each broker to perform better and better. Will not be happy myself until there is zero spread, 0.1p commission per mill and positive and negative slippage balances out

Having a look at other brokers now, there has to be one for trading the eurusd and gdpusd that offers the best platform with lowest turnaround costs? Am happyish with LCGFX but always looking around…..
  • #44
  • Jun 6, 2014 1:02pm Jun 6, 2014 1:02pm
Quoting kwickwool
Currently with LCGFX in London and am a scalper myself most of the time. So assuming execution speed and liquidity as a must its all about the total turnaround cost. So, slippage + commission + spread……………. Am having a look around myself at the moment, is good for the customer today as lots of competition forcing each broker to perform better and better. Will not be happy myself until there is zero spread, 0.1p commission per mill and positive and negative slippage balances out Having a look at other brokers now, there has to be one for trading...
Nice one... Starting Balance (min. deposit) 25.000 $

A bit to much for me
  • #45
  • Jun 6, 2014 1:30pm Jun 6, 2014 1:30pm
Quoting Jeffray
Iam trading with Armada for the last 3 years now and Iam quiet happy with them. Testing FxOpen from time to time and the spreads are by far the best out there! The only thing why I did not open an account with them is, they want to have a min. deposit of $€1000 for the ECN acc. and thats a bit to much for me! Think I will add IC Markets besides my current Armada acc. because there you can open the ECN acc with $€250. For me that is enough to test the live account Hope this helps
Is IC Market daily New York close?
  • #46
  • Jun 6, 2014 2:32pm Jun 6, 2014 2:32pm
Just to add guys, i wouldnt bother scalping with high frequency unless i was using a prime broker as that is an absolute must. You only realize what profit they are costing you when you go prime and it can make all the difference with high frequency between winning and losing....just because a company is an ECN does not mean for a second that they are not on the other end of your trade and that the conflict of interest is there........
  • #47
  • Jun 8, 2014 5:53am Jun 8, 2014 5:53am
Quoting kwickwool
Just to add guys, i wouldnt bother scalping with high frequency unless i was using a prime broker as that is an absolute must. You only realize what profit they are costing you when you go prime and it can make all the difference with high frequency between winning and losing....just because a company is an ECN does not mean for a second that they are not on the other end of your trade and that the conflict of interest is there........
thank you very much for your words and recommendation!
I have definetly to keep that in mind.

Do you know if they offer a kind of a demo account to get used to the trading platform? Or do they offer Mt4 as well?
Or do they have videos on their page to see how trading can look like with them?
  • #48
  • Jun 9, 2014 2:22am Jun 9, 2014 2:22am
Quoting kwickwool
Just to add guys, i wouldnt bother scalping with high frequency unless i was using a prime broker as that is an absolute must. You only realize what profit they are costing you when you go prime and it can make all the difference with high frequency between winning and losing....just because a company is an ECN does not mean for a second that they are not on the other end of your trade and that the conflict of interest is there........
So what you are saying is that an ordinary guy has 1 million dollars (in most cases 10 million) to set up a prime brokerage account? What you are also forgetting is that most banks would switch you off if the flow is aggressive. So the only way would still be to use brokers as your flow can stay unnoticed to LPs for a while.
  • #49
  • Jun 9, 2014 5:13am Jun 9, 2014 5:13am
Just made a trade on Armada Markets: Execution time 600ms - what a joke! Slippage 0.3 pip - again, what a joke (E/U)! Do not go there..
Return To Disorder
  • #50
  • Jun 9, 2014 7:03am Jun 9, 2014 7:03am
Quoting rockit
Just made a trade on Armada Markets: Execution time 600ms - what a joke! Slippage 0.3 pip - again, what a joke (E/U)! Do not go there..
I never ever made this experience with armada...
  • #51
  • Jun 9, 2014 7:09am Jun 9, 2014 7:09am
Quoting Jeffray
{quote} I never ever made this experience with armada...
What are your execution times? Do you measure slippage?
Return To Disorder
  • #52
  • Jun 9, 2014 7:11am Jun 9, 2014 7:11am
Im in the need of a new broker for scalping. Any suggestions?
  • #53
  • Jun 9, 2014 7:32am Jun 9, 2014 7:32am
Quoting FXaddicted
Im in the need of a new broker for scalping. Any suggestions?
This.

All brokers seem to either: execute lame, or have wide spreads, or require high deposits, or slip a lot, or high commissions.. or a combination of these, or all of these issues.. It is a lame industry, all eager to take your money no problem, all using scam tool MT4..
Return To Disorder
  • #54
  • Jun 9, 2014 7:35am Jun 9, 2014 7:35am
without them I can't execute trades I need the best of a bad lot
  • #55
  • Jun 9, 2014 7:39am Jun 9, 2014 7:39am
Quoting FXaddicted
without them I can't execute trades I need the best of a bad lot
Yes, I understand; we all are facing these same issues. Best of a bad lot - that is it! Give us somebody the best of a bad lot.
Return To Disorder
  • #56
  • Jun 13, 2014 4:12pm Jun 13, 2014 4:12pm
If you dislike MT4 so much then trade via FIX API. Every broker mentioned in this thread provides FIX connectivity. Of course, you have to be an active trader to get FIX connectivity.
  • #57
  • Jun 14, 2014 4:47pm Jun 14, 2014 4:47pm
Quoting Mitbrad
Of course, you have to be an active trader to get FIX connectivity.
And why do you think that is? [FIX is free, MetaQuotes costs (everybody) a lot of money]
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  • #58
  • Jun 14, 2014 10:38pm Jun 14, 2014 10:38pm
What exactly is FIX API ?
A FOOL AND HIS MONEY SOON ARE PARTED
  • #59
  • Jun 15, 2014 4:31am Jun 15, 2014 4:31am
Quoting forexfoolish
What exactly is FIX API ?
You know what a search engine is - not. So, how about start here: https://en.wikipedia.org/wiki/Financ...ation_eXchange
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  • #60
  • Jun 15, 2014 7:10am Jun 15, 2014 7:10am
what trading platform can be used with FIX?

Do I just have to ask my broker if I can use FIX with him?
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