Thanks. I’ll make note of that.
Vpip
sure no problem. clarify the account by own experience would be better. there’s no need rush with high amount deposit at your first try. many traders has their own experience with brokers, best time effort to check their spread comparison at myfxbook page. babypips also giving great article related to how choosing potential brokers to our trading needs.
What about their withdrawal? Did you have any problems getting payed?
I’d also like to know if they pay on time. So brokers out there are usually delayed at payments. 
Forgive my ignorance (I’m a newb!)…
But why are some FOREX brokers against scalping? And what policies do they implement to discourage scalping?
the main reason why scalping are prohibited at some brokers, because these method could harm their bucket :), at some occasion the platform server itself couldn’t handle the rapid order activity of scalping method. and most account has their own policies, such minimum trade length ( in minutes), another way by putting high slippage. but you will found almost all brokers would said allow scalping method, but make sure to check their trading condition match your scalping system.
for example I currently use scalping ea which require low spread and low stop order level ( 0 pips distance from current market price to put entry or modify TP,SL level)
check how much pips “Stop levels” you’ve got with current account, go to pair specs you’ll find this information.
1 Like
Hey guys
Im a scalper … or you could call me intraday trader … my target most of the time is between 7 to 12 pips … enter 4 or 5 times a day … searching for a broker with the lowest spread and commission BUT STOP NOT JUST THAT :
- Allot of brokers widen the spread in a no volatile time to hunt your stop
- Some times they close your tarde before the price reach your target 1 or 2 pips
- They execute the trade for your before the price reach your order (with the reason the spread became wide)
- they slippage you in every trade you take … yes for instance you pay on the EURUSD 0,8 inclusive commission and spread but add on that 1 pip slippage.
Now im thinking to open an account with one of these brokers:
- FXCM
- Saxobank
I NEED YOUR HELP GUYS BASED ON YOUR SCALPING EXPERIENCE :: ANY ONE SCALP IS AWARE ABOUT WHAT I SAID ABOVE
As per my knowledge, scalping is not for brokers…its for scalpers. The successful scalping strategies are just not enough for a good scalper, but he/ she also needs to have an innovative and technologically competent broker as partner. Also use an advanced trading tools which may be the key to success in this Forex world.
Hi everyone. Im scalping also and a few of my friends (also scalpers) mentioned a broker named LondonFX. They said that the spreads are good and the execution is really nice, so far no problem about the duration of their trades and all that stuff... so Im going to give them a try. I`ll keep you guys posted. 
Trade well everyone.
100% right … big money= pro tools, when done right you can’t afford to have a requote or no quote!!
You got that right, big money = big investment, and hopefully bigger returns as well.
Hi Flast,
I’m FXCM’s representative here on BabyPips and would be happy to address the points you raised. Also, you mentioned that you’re thinking of opening an account with us, so please feel free to reach out to me with any questions in the Broker Aid Station.
On our No Dealing Desk (NDD) forex execution, FXCM makes money from your trading volume. That means scalpers are some of our best clients. In fact, all trading strategies are welcome on our NDD model.
On our NDD model, we don’t profit from your losses, or lose from your profits, because we offset each of your orders one-for-one with the best prices from competing liquidity providers. We make the same amount of money from your trading volume whether your stop loss gets hit, or you take a profit. Therefore, we have no reason to hunt your stops.
If the spreads widen on our platform, then it’s because the banks providing liquidity in the market have widened their spreads. This typically happens during times of high volatility (news events) or times of low liquidity (5pm trade rollover or the Sunday open).
Is it possible you’re not taking into account the bid/ask spread when you look at your chart?
By default, the chart will show you the bid or sell price in the market. However, if you are in a short position, then it’s the ask or buy price in the market that would trigger your stop loss order. The ask price is higher than the bid price you see on your chart due to the bid/ask spread.
FXCM’s Trading Station charts allow you to change views to see the ask price instead of the bid price when you prefer.
As I mentioned previously, FXCM makes the same amount of money from your trading volume whether you win or lose on your trade. If the spread widens on our platform, then it means that all the liquidity providers have widened their spreads due to prevailing market conditions.
There’s no sugar coating this. Slippage is one of the risks you assume when trading in any market whether it’s equities, futures or forex. However, unlike with some other brokers, slippage at FXCM works both ways. If you have a limit or take profit order, and the price gaps in favor of your trade, then you will get filled at the more favorable price which is trading in the market. This is called positive slippage or price improvement.
A study of over 43 million orders executed through FXCM over a 12-month period from September 2013 through August 2014 found that 52% of all stop and stop entry orders received negative slippage. However, the same study showed that over 58% of all limit and limit entry orders received positive slippage.
That’s due to the momentum of price movement when such order types are triggered. Stop orders are triggered when the price is moving against your trade, while limit orders are triggered when the price is moving in favor of your trade.
The year-long study of trades executed through FXCM also revealed the following:
[ul]
[li]76.2% of all orders had no slippage.
[/li][li]13.5% of all orders received positive slippage.
[/li][li]10.2% of all orders received negative slippage.
[/li][/ul]
Over the course of that year, FXCM clients benefited from over $21 million in positive slippage.
It’s worth noting that the Market Range feature on our Trading Station platform and the Enhanced* Maximum Deviation feature on our MT4 platform allow FXCM clients to limit the amount of negative slippage they receive, while still enjoying the full benefits of any positive slippage that’s available.
[I]* On the MT4 platforms of some other brokers, the Max Dev feature is unavailable, or if it is available, then it will limit both your negative slippage and your positive slippage equally. By contrast, FXCM enhanced how Max Dev works on our MT4 platform allowing you to limit your negative slippage while still enjoying the full benefits of any positive slippage.[/I]
Well my friend you see every trader has his/her own best broker depending upon his/her needs. A broker may be suitable to you and not to someone else at the same time. I am not an expert in forex trading. I started trading in Forex an year ago and when I was looking for the broker, one of my friends, who has been trading in Forex for long time suggested me to go for FinPro Trading. It is a scalp friendly broker and I must say I am very much satisfied with the services I received from FinPro Trading. The best thing I love about them is their trading platform and their transparent policies as they don’t scam their clients with hidden charges. They don’t charge any commission nor any fees for fixed spread account. But they do charge commissions for variable spread account. Depending upon on your type of account the commission charges would be in the range of $4 per 100, 000 turnover. They offer pure ECN accounts, tight trading spreads EUR/USD spread as low as 0.2 pips and upto 200X leverage.
While I was searching for a good broker for scalping I faced OctaFx. They drew my attention with the opportunities meeting my requirements, I mean they provide the cTrader trading platform which allows me to trade smoothly with all my trading orders executed without delay and any frustrating quotes happening. Their spreads are tight enough - as low as 0.4 for eur/usd…so it’s a real help for a scalper to make profit. In fact I’ve seen no problems while dealing with this broker.
Best Scalping brokers ?
to do scalping trade usually we need a low spreads brokers, and ECN called brokers are suitable for scalping
because i am retail trader, i use broker with low spreads and low deposit to trade, retail forex brokers like octa or Tickmill which is offer low spreads and commisons (as low as $4 per 1 lot)
I am thinking of opening an FXCM account myself but I have heard they are marketmakers and they make money from client’s losses.Is that true?
Hi Demo256,
FXCM offers you two different forex execution options: No Dealing Desk (NDD) and dealing desk (AKA market maker).
With NDD, FXCM acts as a price aggregator. We take the best available bid and best ask prices from our liquidity providers—global banks, financial institutions and other market makers— and stream those prices to your platform. This large, diverse group of liquidity providers makes this model special: The more advantageous the prices, the more order flow the provider receives. Through competition, NDD ensures prices are market-driven and fair.
For traders new to the forex market, our introductory Mini Account gets you started with just $50. Access the most popular and liquid forex pairs at prices as low as 1.4 and enjoy the educational resources at DailyFX and exceptional client support. Mini Accounts feature dealing desk execution, where FXCM can act as a dealer determining prices and spreads. Accounts that execute on dealing desk execution may be restricted from scalping, news trading, trading EAs, and API trading.
Click here for more information on to compare these options.
Market execution and Instant Execution, which type of execution is best for scalping? Anyone know?
Does anyone have any recent experience with Tickmill or PFD from New Zealand?? They both seem to have very low spreads… I’m really interested to hear from people who traded with PFD nz. PLease share your experiences.
I am also trading with Octafx, I have 2 accounts – 1 is with Mt4 and other cTrader, I usually prefer long term with Mt4 while with cTrader like you said it’s pretty handy for scalping, as we are aware that this is a ECN platform, so that obviously means no tricks been involved where. Now I don’t worry too much over spread at least till it’s under 1 pip which it is on most occasions, so yeah definitely one of the best for scalping.