I decided that I want to concentrate on Scalping, what are some good scalper brokers?
I use forex.com but I am ‘uneasy’ about them, and they were just fined about 1/2 million for some nonsense.
What do you think {atleast refer me instead of saying ‘everyone is different’, etc.}
Try ECN brokers… Off the top of my head, MB trading, Citifx, ibfx (not sure if IBFX is ecn)
try Oanda… they offer tightest spreads which are absolutely necessary for scalping…
When you say scalping, how many pips do you mean?
If you’re going to scalp, don;t even think about doing it wen you have to pay spread - stay well away.
1-10 pips,
I have been doing it for a few weeks now and I am up a few hundred pips
{but have been doing it for 10-16 hours a day - all week}.
But I just don’t have a great feeling about forex.com that I am with, and there is constant lag during peak hours {8am-10pm} between the charts and the trading panel, and this was verified by downloading practice accounts from other sites. & they recently have been in a little trouble.
You mentioned “don’t even think about doing it when you have to pay a spread” but you offer no solutions !
I like the excitement and the gains of scalping, and I will starting doing more long-term trading later on.
The solution is to not scalp FX but scalp futures contracts like the ES.
If you’re doing well, that’s good - I’m not sure which pair you’re scalping but anything more than 2 pip spread and it will probably get you in the long run - how much are you paying in spread commissions and how many trades per day?
AUD/USD, EUR/USD, USD/JPY, USD/CAD. For the most part, that is what I am doing, I have done a couple others trades in other pairs … but not much.
I understand the forex market, but I am still new to this, So for now I just want the most reliable platform/broker in order to do what I am doing.
I would LOVE to develop a better sense of longer trades, but I {like others I am sure} am having a hard time with graphing trends to come up with decent predictions. I have been very very successful in scalping, but Now I want to know more {but will stick with scalping until I figure out my strategy for longer term trades.}
Why scalping ? what are the advantages ?
Best Regards,
Matt Jones 
quick, instant results.
But ABOVE all, I don’t want to dumb 10k-20k into my account, I have had it with about $2,500 so far and have earned about $600.
With just over $3,000 … because of the 50:1 margin, it is hard to have many simotanious trades going. So for long term, I don’t want to sit and ‘wait’ it out.
Once I build my account up, and I can afford longer term / multiple trades, I sure will, but for now, this is the only way to be active in it & keep ‘trading’!
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Henyep Development Holdings
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Henyep Development Holdings
10/F, 9 Queen’s Road Central
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Based out of Hong Kong, I am not sure about that one.
They seem to be FSA Registered and part of 186171 - Henyep Capital Markets (UK) Limited. HQ London…would you recomend to stay away?
MBTrading is the better broker for scalping trades specially in the off the news times when price movement is still moving with some current momentum whether it is to the upside, to the downside or in sideways market.
Their charge a small brokerage fee for every trade you placed but they can get you to the best price at the moment from interbank prices.
MBTrading is my first choice and Oanda is my second best.
how is Oanda’s platform since you can’t use mt4 with it?
I just look up the chart on MT4 for trade setups and for my Oanda’s trades I open up their chart just to see the prices on their platform and based my entry, stop and profit from it.
I use Smart Trade Fx their spreads are good 1-2 pis for eu/us because they charge a low commission depending on the account type. Plus their leverage is 1:200 and they take Paypal
1-2 plus commission is a terrible rate. You should be able to get less than 1 + commission.
I go with Dukascopy. It’s a regulated bank with broker default insurance. Spread is 0.5 up to around 1.5. Commission is a bit hefty, but it’s an excellent ecn price feed without dirty tricks so far. Plus very fast order execution. No MT4 (there is a bridge software, though), but their Jforex is much better for order execution by hand.
Yeah, excellent choice. And if you want Dukas’ feed on MT4, check out fxopen.
You can try with LucrorFx, a New Zealand brokerage, they accept US clients. They have demo acct you can try before diving to the real one. They are on MT4 platform. They support scalping and heding too.
