Best broker for Scalping

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Joseph Trader

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In your opinion which brokers are best for scalping?

Currently I use FinFx.fi and FxOpen. I am completely satisfied with both, especially with FinFx, but maybe there are some brokers that You are using and are also great.

Suggestions?

Regards,
Joseph.
 
Joseph Trader said:
In your opinion which brokers are best for scalping?

Currently I use FinFx.fi and FxOpen. I am completely satisfied with both, especially with FinFx, but maybe there are some brokers that You are using and are also great.

Suggestions?

Regards,
Joseph.
Click to expand...

Do you plan to scalp manually?
The cheapest is probably IC Markets,
Forex trading | Currency trading | Trade FX

Not the most stable MT4 server but the cheapest per trade cost around. ( $5.50-$6 for 1 EURUSD lot) and you can lock your trade at 0 pips (many other brokers won't allow you to move your SL this close to your entry price).

Their server has been ok for a long while now but they did have some server issues the last couple of days.

ICM are probably better suited to people who are trading using EA's running on VPS,
for intraday traders who trade frequently and for new traders who want to use a live account to learn to trade.

I hope this helps
 
BILLV said:
Do you plan to scalp manually?
The cheapest is probably IC Markets,
Forex trading | Currency trading | Trade FX

Not the most stable MT4 server but the cheapest per trade cost around. ( $5.50-$6 for 1 EURUSD lot) and you can lock your trade at 0 pips (many other brokers won't allow you to move your SL this close to your entry price).

Their server has been ok for a long while now but they did have some server issues the last couple of days.

ICM are probably better suited to people who are trading using EA's running on VPS,
for intraday traders who trade frequently and for new traders who want to use a live account to learn to trade.

I hope this helps
Click to expand...

I trade with night scalping EA. Never had experience with ICM. Will give them a try though.

Regards,
Joseph.
 
Joseph Trader said:
I trade with night scalping EA. Never had experience with ICM. Will give them a try though.

Regards,
Joseph.
Click to expand...

Before you do, download a demo and see what their spread is for the pairs you would like to trade.
Also find out how it works with deposits and withdraws and any costs involved.

Another broker which claims to have good spreads is Admiral markets.
I have an account with them but I don't use them often because ICM is cheaper.
They charge $4 per lot but their added spread on EURUSD is higher than ICM's so you'll end up paying a bit more than ICM but the spread varies between pairs and particularly in the night so you'd want to compare spreads before going ahead.

If you decide to go ahead with ICM, tell them you want the HFT group discount and they'll give you the $5.50 per lot price. On EURUSD and during london & NY open the spread will be between 0 and 0.3 so you'll pay less than $6 per lot.

Since you use an EA, If you trade more than 100 lots per month with ICM you could get a free VPS. There is a US VPS company which gets paid by the brokers but you'll need to be trading over a certain amount per month.

Bundling Program Members - Get a FREE or Discounted CNS VPS!
 
haddoxerik said:
FXCM...only active trader account is good for scalping
Click to expand...

bigmistake said:
HotForex just offered FIX ACCOUNT - Fixed spread for trader. I think with that account, we can control closely our scalping trades.
Click to expand...

Yeah, but you know brokers... Fixed spreads doesn't sound for me like ECN. Are you sure about that ? What if I scalp with 10 lots per trade and make appropriate profit to that lot size, I won't have problems ?
 
Joseph Trader said:
In your opinion which brokers are best for scalping?

Currently I use FinFx.fi and FxOpen. I am completely satisfied with both, especially with FinFx, but maybe there are some brokers that You are using and are also great.

Suggestions?

Regards,
Joseph.
Click to expand...

Scalping is the most difficult of all trading strategies and almost everyone who tries it loses why scalping is so difficult.


But if you must scalp, get a broker that offers no-requote trading. Latency means that sometimes the price will change in the time it takes for the quote to go from your trading terminal to the exchange. When this happens there are one of two things that will happen -

1. Your order will not be filled and you will be presented with another offer/quote.
2. Your order will be filled at the best possible price.

Option 2 is far better than option 1. Especially for scalpers. best Forex broker for scalpers.
 
I used FinFX to run Forex Multivers back in 2010 before the EA died. It was an aggressive scalping EA and it worked quite well. Nowadays IC Markets has probably the best EURUSD spreads, their servers are in NY. If you prefer London, Armada Markets would be an option.
 
fxgermany said:
I used FinFX to run Forex Multivers back in 2010 before the EA died. It was an aggressive scalping EA and it worked quite well. Nowadays IC Markets has probably the best EURUSD spreads, their servers are in NY. If you prefer London, Armada Markets would be an option.
Click to expand...

I hear quite a lot last days about IC Markets. I think will give them a try. However can you suggest any other brokers? I heard that HotForex is quite good as well.
 
Crunchy1 said:
I hear quite a lot last days about IC Markets. I think will give them a try. However can you suggest any other brokers? I heard that HotForex is quite good as well.
Click to expand...

I might be biased, but in my personal opinion HotForex is one of the last brokers I want to trade with - maybe except for all those shady no-name brokers that die after a year.

The simple fact that they pay one of the highest IB commissions in the industry raises a red flag for me and of course all the IBs inevitably try to increase the attention HotForex gets.

With regard to other brokers, it depends on what you are aiming at. For the lowest ECN commission European based brokers Armada Markets and Admiral Markets with undiscounted $4 per round-turn lot are an option. If you want a bit more regulation then there are quite a few Australian brokers, e.g. IC Markets, AxiTrader or Global Prime with undiscounted $7 per round-turn lot. As UK based and FCA (successor of the FSA) regulated brokers LMAX and Alpari UK come to mind. Most of this brokers offer standard accounts in case you don't want to pay ECN commission.
 
Well, I traded with HotForex... FinFx much better.... It started to trade harder at HotForex when I profited...

Regards,
Joseph.
 
For scalping, mayzus and exness may be good so that the traders can scalp with the fixed and dynamic spread both kind of accounts in these brokers which ever they wish to.
 
Babyblush said:
For scalping, mayzus and exness may be good so that the traders can scalp with the fixed and dynamic spread both kind of accounts in these brokers which ever they wish to.
Click to expand...

Never heard about these brokers, Will look through google.

Regards,
Joseph.
 
IC markets

I hear good things about IC Markets ,but that could be their staff on these forums giving them excellent reviews. Any honest traders out there that have used them and are happy with them? I heard on another forum that they have a dealing desk!! I do want to try them out though..
 
moyes said:
I hear good things about IC Markets ,but that could be their staff on these forums giving them excellent reviews. Any honest traders out there that have used them and are happy with them? I heard on another forum that they have a dealing desk!! I do want to try them out though..
Click to expand...

IC Markets trading conditions are good, but the support can be a bit slow every now and then - sometimes they reply within a few minutes and then again it takes a whole day. However, all in all they are a good broker.
 
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