You might want to consider Pepperstone or Tickmill. I've used both for scalping with good success. I say "Tickmill", but it was actually Armada until the 1st of this year. Since the switchover, their servers seem even more reliable, generating excellent trading opportunities. I have an ECN account with Tickmill, so I pay commission on top of the very narrow spreads. The total spread, including commission, on EURUSD is typically around 0.7 pips. Low enough to making scalping feasible.
Best broker for Scalping
- Thread starter Joseph Trader
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sounds good, thank you.
I prefer Joseph you may use FIX API while scalping in Forex, It reduces latency period & execution speed will be faster overall. Even well-known platforms need two or more ticks to fill an order, which is unacceptably slow for high-frequency strategies. It would even complete your desire to cross-connect with your liquidity provider.
I share this post, service is not that great but the rest seem ok
so a commission of A$ 5.50 plus average 0.1 spread comes to A$ 6.50 per lot, a broker with only 0.7 spread have a cost of A$ 7 per lot, seems like those are the best price atm for scalping, if that is the case I probably would prefer the one that charges commission + spread because the TP has more possibly to be reached due to the tighter spread.
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here's another discovery scalping strategies use, matrix CE grid ea. take profit set at 10 pips. so far from a week trade got nearly 10%, use small lot size (0.01), trade with 4 major pair.
run this ea at free vps from amazon (check aws free vps, if you're interested with these free service).
spread are quite competitive for scalping, and for commision they also giving a good offer with 3.8$ round turn commission for each 1 lot transaction. there's many claim, offering ecn service at 0 spread but better check their commission structure to make sure, because spread are not the only to consider while scalping , whole transaction cost are real total fee for each trade been made.
run this ea at free vps from amazon (check aws free vps, if you're interested with these free service).
spread are quite competitive for scalping, and for commision they also giving a good offer with 3.8$ round turn commission for each 1 lot transaction. there's many claim, offering ecn service at 0 spread but better check their commission structure to make sure, because spread are not the only to consider while scalping , whole transaction cost are real total fee for each trade been made.
trade2bpro
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How a broker is best for scalping? Nice spread, fast execution, multiple assets,... what else?
you may want to check with their stop level/order , traders rarely had a deep look upon it, but in real practice ( especially using EA), this trading condition may crucial aspect which affect whole trading performance.
my current ECN account had all these feature, to check stop lvel/order you can simply take a look at each pair instrument specs, (see the pic with arrow)
NVP
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I use these guys as well for most of my trades ...........until something better comes along .............capital gains rules apply though
N
davidwebbthegreat
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Can anybody recommend a UK broker please
Thanks
Thanks
hatemypips
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hatemypips
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you may want to check with their stop level/order , traders rarely had a deep look upon it, but in real practice ( especially using EA), this trading condition may crucial aspect which affect whole trading performance.
my current ECN account had all these feature, to check stop lvel/order you can simply take a look at each pair instrument specs, (see the pic with arrow)
did these pair specs are only affect with traling stop pips level ?, not all trader would like to use an EA while scalping. sometime manual has upper hand
, is these also implied when doing manually, at how method then. I do check on my several mt4 account at different brokers account, indeed they had different pips level when it comes to stop order/level. my raw impression lesser are better I think.
hhiusa
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I would use interactive brokers because you get access interbank rates and the currency is actually yours. If you choose you could deposit the foreign currency from your brokerage account to a multicurrency bank account. However, there is a $25,000 minimum to trade. Similarly, if you are using a broker that does not have an account minimum you are buying at worse than interbank rates; sometimes up to %2. As of 2015-05-04 the GBP/USD is 1.51190. All orders below 25,000 USD equivalent are sent to the odd lot and worse rates. If you were to buy the pound from somewhere like a bank it would cost you GBP/USD 1.58749. They also a $10,000 minimum for US stocks.
you may want to check with their stop level/order , traders rarely had a deep look upon it, but in real practice ( especially using EA), this trading condition may crucial aspect which affect whole trading performance.
my current ECN account had all these feature, to check stop lvel/order you can simply take a look at each pair instrument specs, (see the pic with arrow)
Billy jean knows his stuff, where are you trading?
As most brokers will take our trades in-house they ultimately don't want us to win so they will use every trick at their disposal to make it harder for us to win and the Stop level is 1 trick they use. They don't want us to move our stop to break even quickly so many of them will have the minimum stop set to 5 pips.
Another classic trick is slippage. They don't fill our orders at the right price and don't close them at the right price either, They delay execution and give us the worst fills possible.
Of course this is done by their software.
Slippage might be harder to detect but the Stop level is an obvious sign that the broker doesn't want us to win. So don't just walk away, RUN as fast as you can
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