Best broker for Scalping

Joseph Trader

Member
54 0
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.
 

BILLV

Active member
128 2
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.

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
 

Joseph Trader

Member
54 0
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

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

Regards,
Joseph.
 

BILLV

Active member
128 2
I trade with night scalping EA. Never had experience with ICM. Will give them a try though.

Regards,
Joseph.

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!
 

bigmistake

Well-known member
263 1
Good brokers for scalping HotForex, Exness, FXCM, FXPro.
 

Joseph Trader

Member
54 0
FXCM...only active trader account is good for scalping

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

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 ?
 

MRDW

Junior member
10 0
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.

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.
 

fxgermany

Junior member
21 0
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.
 

Crunchy1

Junior member
18 0
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.

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.
 

fxgermany

Junior member
21 0
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.

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.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock