Best broker for scalping
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Thread: Best broker for scalping

  1. #1
    Hi, looking for a broker that's best suited to scalp and allows trading in US.
    In other words, criterion are:

    -fast execution/high liquidity/fast order fills
    -little to no restrictions on scalping (difference between current price and SL/TP, etc.)
    -reduced spreads
    -minimum slippage
    -minimum likelihood of requotes/stop hunts/other tactics to intervene trades
    -fast and reliable withdrawals/deposits/customer agency

    I did some research and still can't quite figure out if ECN's or STP's are unquestionably better than market makers/dealing desk brokers, and how to know who's a market maker and who's not. I also read some people's remarks that ECN's are greatest for scalpers and that MetaTrader 4(MT4) was just dsigned for dealing desk and so ECN isn't actually compatible with MT4.

    I avoid trading through news so if there is slipage/spikes or other problems mostly only during news, it shouldn't be much of a problem for me.

    So far I believe following firms:


    Oanda
    pros: seems to be popular and low minimum deposit requirements
    disadvantages: seemingly is a Marketmaker

    IBFX
    pros: been trading with them on demonion for quite a while
    cons: marketmaker, poor NFA listing

    MB trading
    pros: heard great comments, low spreads
    pitfalls: charges commisions

    Alpari UK/US
    pros: heard a lot of great comments on Alpari UK
    pitfalls: heard little good comments on Alpari US and I'm in US

    Dukascopy
    pros: situated in Switzerland, claims to be ECN
    pitfalls: in my view their platform is not quite user-friendly

    FXMC
    pros: asserts to be ECN, among the biggest brokers
    disadvantages: heard some bad feedback

    GFT
    pros: seems to be among the biggest brokers
    disadvantages: reduced functionality of this platform Dealbook

    Iamfx
    pros: low spreads, free VPS
    cons: seems to be quite new to market and unfamiliar on FF, Marketmaker

    FXcbs
    pros: low spreads and claims to be ECN
    pitfalls: website seems obsolete, utilizes MT4 despite claiming to be ECN

    ACM:
    pros: situated in switzerland
    cons: average disperse

    Fastbrokers:
    pros: low spreads, asserts to be ecn
    cons: did not hear much about them, charges commisions

    Forex.com
    pros: Profit capital is among the biggest companies
    cons: heard some bad feedback

    London Capital Group (LCG)
    pros: gets access to currenex platform
    disadvantages: uncertain account requirements, did not hear much about them


    seeking to find some guie for experienced traders who had actual trading expertise with any of listed above firms or who can offer credible and not outdated feedback on those, or urge other broker.

    Thank you.

  2. #2
    Of all the brökers mentioned, I'd go with Oanda. All in all fairly low spreads and very fast fills, not great for news trading though.

    An alternative is constantly trading futures.

    LCG: min. Account of 25k USD I was advised.

  3. #3
    Quote Originally Posted by ;
    PFGBest is another possibility but with just 1:50 leverage.
    Thank you, Fido. I live in US, so I think it's always 1:50 for me personally, regardless of broker.

    I assume you'd experience with PFGBest? What is the minimum deposit?
    Their website does not reveal much information...
    Also, how would you compare it to other brokers if you'd experience with other people?

    Thank you.

  4. #4
    Quote Originally Posted by ;
    Of all the brökers mentioned, I would proceed with Oanda. Overall fairly lower spreads and very quickly fills, not good for news trading however.

    An alternative is constantly trading futures.

    LCG: min. Account of 25k USD I had been advised.
    Thank you Traderlarry. Low spreads and fast fills is exactly what needed the most. But had you experienced or have you heard of them hunting prevent losses or requoting outside of news periods?

    As for futures, I don't have any experience there. .

    Thank you for clarifiion on LCG, really useful.

    I hope I'll get a couple more answers... Thank you guys.

  5. #5
    Quote Originally Posted by ;
    Thank you, Fido. I live in US, so I think it's always 1:50 for me personally, regardless of broker.

    I assume you had experience with PFGBest? What is the minimum deposit?
    Their site does not show much info...
    Also, how would you compare it with other brokers if you had experience with others?

    Thank you.
    Hi Cerber,

    You are right about their site. . They are not so transparent about their pricing. You may find some more information in this thread:
    https://www.forexsoutheast.asia/cryp...el-alerts.html
    appears as though they are offering different feeds for different account dimensions.
    You would definitely want to have their typhoon price feed. It is great
    You need to deal with hard to get a nice commission but the spreads will be the best I've seen thus far... E/U as low as 0 but 0.5 - 0.7 is more common. If you sign up for a demo you'll be contacted by a representative that may provide you some more details.
    Right now I'm also turning my attention towards futures as they are more cost effective and great for scalping, maybe that's something for you to consider.

  6. #6
    FXCM.. .only active trader account is good for scalping

  7. #7
    Cerber.. .Oanda doesn't hunt stops.


    I believe that 99% of those complaining about quit searching on fx boards are simply unprofitable traders that can not exchange and who don't know how the markets work.

    It's an easy explanation for them for why you stop after another gets pulled out on their accounts, not realising that that's precisely what trading is all about, specifically taking the cash from the uninformed masses.

  8. #8
    To start with, if scalping is the thing then steer clear of market makers. My trading consists partially of scalping and I am only trying to save you from learning this the hard way.

    Off that list, my recommendation will definitely be LCG Currenex:

    - This really is a tier 2 bröker, not a tier 3 retail bröker such as the remainder on that listing
    - Min deposit is 20k (not 25k)
    - Great liquidity (JP Morgan)
    - Good spreads/commission
    - Large and Secure company (I knew someone who had a little over a million deposited there and withdrew it readily )

    In case you can not manage this, I would recommend the following (in order of my preference):

    MB trading
    Dukascopy
    Fastbrokers

    Off that list, I'd avoid the subsequent (either because of being a market maker or simply for being a poor bargain ):

    Alpari UK/US
    IBFX
    FXMC
    Oanda
    Iamfx
    ACM
    Gain Capital (Forex.com)
    (I do not understand FXcbs so I can't comment)

  9. #9
    Quote Originally Posted by ;
    LCG Currenex

    - Min deposit is 20k (maybe not 25k)
    - Great liquidity (JP Morgan)
    - Excellent spreads/commission
    - Big and safe business (I knew someone who had a little over a million withdrew and hauled it readily )
    Yes, they are great also. They've a reputation

  10. #10
    Quote Originally Posted by ;
    Cerber.. .Oanda doesn't hunt stops.


    I feel that 99% of these complaining about stop hunting on fx boards are just unprofitable traders who can not trade and who don't understand how the markets work.

    It is an easy excuse for them for why one stop after another gets taken out in their accounts, not realising that that's what trading is all about, namely taking the cash from the uninformed masses.
    Hi

    A bit true but many brokers also are pursuing clients stating they are scalping friendly while they don't like it.

    Example of tactics: order slippage poor execution while there's better filling profits! FXCM do that all the time in ATG or regular accounts.

    Additionally there's other brokers who require a distance for setting a limit/ pending order in order that they can get ready for the order not confront a reduction.

    So on from spikes but or Digital trader. Many are using different tactics to make more dollars quite couple are really good as STP or ECN. Many claim ECN while they are not watch FXCM is not asserting ECN while it states raw feed...

    13

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