Hi, which are the better brokers for scalping?
Appreciate if anyone who has been scalping experiences in live trades( not demo) can give some inputs about their broker.
I have been reading that scalpers are easy prey for unscrupulous brokers.
Thanks in advance.
I have a live Account with Alpari from the last 8 months, and I am a Scalper.
This Broker never say to me nothing about my trading style, but I think than they hunt the S & L.
In other side, in the news, sometimes they don’t give to me the opportunity of enter a trade in the last 2 or 3 minutes before the new.
Greatings
Thanks LoboTrader.
I’m also on live with Alpari(UK) just the last few days. I’ve been on Demo with them for many weeks and was doing pretty well scalping 40-100 pips daily.
But when it came to live, it was very different, really different. Maybe its the emotions or something else. Just can’t get my finger on it.
The other problem with Alpari was that recently they increase the spread for Eur/Jpy from 3 to 4 pips for live. But it remain 3 pips for Demo.
Can’t really accuse them of stop hunting yet but it sure was a new ball game going live. the increase of 1 pips makes some difference( quite a lot i think).
How did you do in your scalping with them? You mentioned that they do a some hunting of your SL. So why are you still with them? Are you okay despite that? What strategy do you use and which pair do you scalp?
Appreciate your sharing.
Regards
Alpari are not a broker that a scalper should even contemplate
using.
To check if a broker is running your stops, which happens very
rarely, open up a demo account with another broker & watch their
price action.
I have demo accounts at 4 or 5 brokers at any one time plus at
an ECN & compare price action. If I felt my live brokers were running
my stops I would remove my money very quickly.
Another check for stop running is not to place a stop but put a trendline
where your stop should be, then when the price reaches that amount
cancel the order.
Traders confuse bad TA with stop hunting, the trade would have
gone bad anyway.
I was asked what an ECN is, if you follow the link below there is an explanation.
http://forums.babypips.com/rate-my-broker/3147-ecn-vs-mm-brokers.html
Hi DayDreamer65,
Who would you say is the best broker for scalping? Thanks
Ceefar
you will need a broker with tight spreads.
I’m trying Tradeview Forex because people say they have good spreads.
Also FXCM have nice spreads but I don’t feel good with their platform.
Oanda has great spreads and nowadays are tighter than before.
So I guess you’ll have to check and try as many demo accounts as you can and then choose the right for you.
how about dukascopy ?
for scalping, you’re best going with an MT4 ECN with good leverage.
I can only think of one…
FX Open.
Anyone uses figfx? Their spreads are tight and according to their faq they are scalpers friendly. I am gonna try a test account but I would like to hear some feedback from someone who has actually been trading a live account with them.
Thanks!
Hi! I am a scalper but I also make longer trades sometime.
first of all and most imortant, if you are going to make any! money at all, either as a scalper or day trader, You need a real ECN with tight spreads and low commision, I highly recommend ATC Brokers they are a real ECN and have the lowest commission and tightest spreads that I know of atm, a ECN seems more expensive but they are not, there is no hidden fees with an ECN and generally no slippage, with retail or MMs it allways look cheaper but in the end it will be a lot! more expensive. you can forget about succesfully making any money with a market maker or retail broker, to know the difference amongst these type of brokers is critical to your success as a trader. in short, retail and mm’s are making money when you loose so they will do anything in their power to make you loose, broker with real ECNs want you to win, because commisions are their bread and butter. so there is no conflict of interest there.
the retail and MM’s will do anything to sabotage your trade! they will be sending spikes to trigger your stop losses, freeze your software during bad spots before and after important news or when youre behind to make you loose more, manipulate prices, these are bucket shops and should be avoided at all costs! under these circumstances it’s just impossible to make any money, it’s hard enough even with an ENC but with someone working against you, well, you are just dead in the water!
this is information most people don’t know, I advise you to take this post very seriously because it’s true and it’s your money on the line.
many retail and mm’s claim to be ECN falsly too, but you can spot them, if they offer fixed spreads or leverage above 200:1 they are NOT ECN even if they say so. most ECNs generally have leverage of 100:1 or 50:1 they can’t do any higher. and they NEVER! have fixed spreads, please check out ForexCoachingPros on you tube, it’s a real eye opener. specifically check out
Counterfeit ECN Brokers
Retail Market Makers … Beware
Trading with ECN Brokers, The "Good Guys"
ECN Broker Suggestions
good luck with your trading
Im sorry but this is my first post in here so Im not allowed to post links
note: I am in no way assotiated with ForexCoachingPros, I just want to forward this very important information, it will save you alot of money
My choice is Exness ltd.
High leverage (sizeable), any trading style allowed, variable spread. Their automatic payment system is very fast.
They dont catch your SL.
If you have a small account, there is no harm in scalping with Oanda. Do not worry about ECN’s etc…you’ll probably end up paying more by the time you factor in commissions.
I must agree…Oanda now has MT4 too…
ES
I’d suggest Oanda too. At least while your balance is small; I’ve yet to work my way up to a sizeable balance in the account for me to consider finding a reason to switch. Though their java platform is known to crash or disconnect occasionally, I’m quite satisfied with their spreads to make up for it. 0.9 on the euro is hard to find.
And as ElectricSavant mentioned, MT4 is now available so even more reason to try em out; demo or real.
You might not have heard of them, because they are true ECN and I believe their marketing budget is smaller than marketmakers. But since 6 months ago I am trading with SolidityBrokers.com and I stopped looking further.
Theyr platform is optimized for scalpers and EA’s theyr spreads are 5 digits after the dot, and they really have a great client support. They even advised me to make a withdrawal of my profits once a while because they told me that sometimes traders have crazy days and that it is best I dont have all my money available for trading directly.
I thank you for the great services you provide.
Soliditybrokers.com I will trade with you forever
Truly yours Pieter Jan van Amsterdam
There are a few good brokers for scalping. Fxopen, mbt, and dukas are pretty decent.
how does soliditybrokers compare with fxopen’s ecn for execution speed?
I have been testing liteforex. They have a 1.5 pip rebate for any trade + or - 3 pips. So if you trade and close out at three pips you get an additional 1.5 pips. That equates to a .5 pip spread on the eur usd and 1.5 on a couple of the other majors. I scalp mainly the Asian session when its slower but have scalped early europe as well with no problems. I Just open my trades and set up my TP’s and watch the money roll in. The rebate is only good up to 1 lot trading though. They also have a Supposed ECN connection but I have not not had a chance to ride it live.
Welp, It looks as though liteforex isn’t interested in my endorsement of their business. Just when They had a good thing going they upped theri spreads to 3 on the eur/usd and the usd/jpy. Looks like its back to OANDA.