Brokers who allow scalping ?

thok · #1 (**permalink**) 11-17-2007, 12:52 PM

which forex brokers allow scalping ?

#2 (**permalink**) 11-17-2007, 01:09 PM

Quote:

Originally Posted by thok

which forex brokers allow scalping ?

Most Forex brokers are Market Makers who make their money from the spread and trade against their clients. That means that scalpers are not welcome because they can't make money from your short-time trades. In fact, many brokers will close your account if you scalp too much.

There are some Market Makers who don't mind scalpers, and I'm sure someone else will be able to tell you which ones as I don't scalp.

An ECN broker like EFX: Experience Forex Freedom makes their money from commissions and doesn't trade against their clients. They welcome scalpers.

Terry

tymen1 · #3 (**permalink**) 11-17-2007, 01:23 PM

I ask the broker directly in a phone call whether they allow scalping.

In surprise I found that quite a few people do not know what you mean. You have to explain this term to them and explain what you are trying to do.

I have asked this question of CMC markets, GFT forex and Hallifax and Kinetic Securities in Australia. They all say basically the same thing - if the price is on the chart and you click it, then it is a legitimate trade.

They say it does not matter if you only make one pip - as long as they make their spread - which they will if you are clicking on their prices !

But how many times, and at what leverage? Again there is no problem - as many times as you like - just click on the prices on the chart is their reply.

Everyone who knows me on this forum knows that I specialise in scalping.

I think that these are fair answers and I have not had a problem in this area with my broker. Too many rumours float around, I think.

thok · #4 (**permalink**) 11-18-2007, 01:16 AM

Quote:

Originally Posted by tymen1

I ask the broker directly in a phone call whether they allow scalping.

In surprise I found that quite a few people do not know what you mean. You have to explain this term to them and explain what you are trying to do.

I have asked this question of CMC markets, GFT forex and Hallifax and Kinetic Securities in Australia. They all say basically the same thing - if the price is on the chart and you click it, then it is a legitimate trade.

They say it does not matter if you only make one pip - as long as they make their spread - which they will if you are clicking on their prices !

But how many times, and at what leverage? Again there is no problem - as many times as you like - just click on the prices on the chart is their reply.

Everyone who knows me on this forum knows that I specialise in scalping.

I think that these are fair answers and I have not had a problem in this area with my broker. Too many rumours float around, I think.

what borker you are using?

and further i wanted to ask what defines as scalping ?
i mean if you SL/TP levels are 10 pips away, is it still scalping ?
how many pips differnece will be called as scalping ?
will every one have its own definition when it comes to scalping ?

#5 (**permalink**) 11-18-2007, 11:28 AM

Quote:

Originally Posted by tymen1

I ask the broker directly in a phone call whether they allow scalping.

In surprise I found that quite a few people do not know what you mean. You have to explain this term to them and explain what you are trying to do.

I have asked this question of CMC markets, GFT forex and Hallifax and Kinetic Securities in Australia. They all say basically the same thing - if the price is on the chart and you click it, then it is a legitimate trade.

They say it does not matter if you only make one pip - as long as they make their spread - which they will if you are clicking on their prices !

But how many times, and at what leverage? Again there is no problem - as many times as you like - just click on the prices on the chart is their reply.

Everyone who knows me on this forum knows that I specialise in scalping.

I think that these are fair answers and I have not had a problem in this area with my broker. Too many rumours float around, I think.

You're right, Tymen, the term "scalping" means different things to different people.

I've always heard scalping described as being in the market for a very short period of time (usually less than 5 minutes) and grabbing between 1-10 pips per trade, making several trades per day. That's what I think of when I hear the word scalping.

As far as I'm concerned, if a broker is honest and truly making their money from the spread without trading against their clients, then scalping shouldn't be a problem. The only brokers who are against scalping are those that are trading against their clients, and those are the brokers to avoid anyway.

Terry

#6 (**permalink**) 11-18-2007, 11:33 AM

Quote:

Originally Posted by thok

what borker you are using?

and further i wanted to ask what defines as scalping ?
i mean if you SL/TP levels are 10 pips away, is it still scalping ?
how many pips differnece will be called as scalping ?
will every one have its own definition when it comes to scalping ?

You really need to learn to do some research on your own, as Tymen mentioned in one of your other threads.

A quick search for "forex scalping" on Google brought up hundreds of pages for review. Here are two of them:

Forex Scalping : Online Forex Trading

Forex Brokers that Allow Scalping: Research and Results | Forex strategies revealed

Make the effort to research some things on your own and you'll find that you actually learn a lot more than if someone just hands you the answer.

Terry

tymen1 · #7 (**permalink**) 11-20-2007, 11:26 AM

To In2Blues :

Thank you for your support by saying the following :

Quote:

You really need to learn to do some research on your own,

When I saw the multiple question, I thought.......Oh no, not another one of these questions requiring an involved comprehensive answer.

You came to my rescue!

Having been on this forum for some time, I have taken pains to answer some questions in detail. This takes time.

Then the next day or so, a brand new poster comes to the forum and suddenly posts exactly the same question all over again..........aaarrrrgggghhhh

After a while you get sick of the same questions and then let someone else answer them.

Than you also for that wonderful hyperlink about brokers that allow scalping - I have added it to my favourites section and have learnt from it.

#8 (**permalink**) 11-20-2007, 03:21 PM

Glad to help, Tymen.

I, too, find the constant repetition of the same questions annoying, to say the least.

While I can understand newbies wanting answers, it never ceases to amaze me how little time most people are willing to put into actually find what they're looking for on their own. Instead, most people want things handed to them with no effort on their part and will simply post a question (for the umpteenth time) instead of taking a few minutes to search the forums and see if it's already been answered.

I once saw a question asked right below the answer to that question, which was asked by someone else two posts above!! All the person had to do was take a minute to read a post and he would have had the answer without wasting precious forum space.