Brokers for Scalpers? True ECN brokers?

moyes

Junior member
40 0
Axitrader, GlobalPrime, IC Markets, CityIndex, CLMforex, Lmax, Synergy FX or Armada? All these brokers seem to be ok. Are they really ECN and do you think they are fine for scalping trading? Anybody used these brokers and were happy with them?
 

E_rik

Newbie
3 0
Axitrader, GlobalPrime, IC Markets, CityIndex, CLMforex, Lmax, Synergy FX or Armada? All these brokers seem to be ok. Are they really ECN and do you think they are fine for scalping trading? Anybody used these brokers and were happy with them?

Hello Moyes. Scalping actually depends on the liquidity providers. If brokers have banks who allow scalping they should not have any problem offering that to their clients. There is no real way to find that out but to ring the broker. It also would depend on what kind of scalping we are talking about. Are you referring to scalping as scalping with robots (sophisticated software) or manual scalping? I have been trading with finpro trading and part of my strategy includes scalping and I can say for certain that they are ecn and have liquidity providers who allow scalping.
 

hyperscalper

Member
89 10
Axitrader, GlobalPrime, IC Markets, CityIndex, CLMforex, Lmax, Synergy FX or Armada? All these brokers seem to be ok. Are they really ECN and do you think they are fine for scalping trading? Anybody used these brokers and were happy with them?

I can give you my experience with LMAX. We ported software from Dukascopy to LMAX because Dukas is only a "retail" brokerage which is "dead in side the spread". This was a 6 month effort, but now we have experience with scalping on LMAX using their Java API and our custom platform.

Results: (in a word, just incredible)
1) narrower spreads than Dukascopy, "noisier" spreads = more opportunity
2) true "wholesale" buying, and I'll post actual data showing price improvement
3) extremely fast multi-order entry, either side of the market
4) stable API connections with few issues

This uses the Java API, which was most convenient for us, given where we started. However, we may move to FIX later. The Java API is limited to 5 Depth of Market levels either side of the market. Because of the way we analyze depth, this is less restrictive than it seems.

So I'll include here price improvement data. Here's how to read it.
If you see BUY B<<<<* (5.0) then that means that we bought "with price advantage" 0.5 pips below the market ASK price. And if you see SEL *>>>>>>>>S (9.0) then that means we sold 0.9 pips above the BID price. So I'm calling that "wholesale pricing".

This venue, LMAX, offers a truly "level playing field" so that this "better than retail" price advantage is available to all participants. Highly recommended, from Live trading experience, for any scalpers. (Their Demo environment is, in my view, useless for serious development and testing, so negotiate access to a Live account for that purpose.)

HyperScalper

Code:
12-16 05:56:30.160 USDJPY BUY B<<<<* (5.0)  wPI: 5.00 qty: 0.015m @ prc: 117.164 ask: 117.169 LMAXoid: AAGJIwAAAAJpLpec
12-16 06:00:03.303 USDJPY SEL *>>>>>>S (7.0)  wPI: 7.00 qty: 0.001m @ prc: 117.209 bid: 117.202 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.002 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.001m @ prc: 117.209 bid: 117.2 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.019 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.003m @ prc: 117.209 bid: 117.2 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.104 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.001m @ prc: 117.209 bid: 117.2 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.110 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.001m @ prc: 117.209 bid: 117.2 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.111 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.001m @ prc: 117.209 bid: 117.2 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.203 USDJPY SEL *>>>>>>S (7.0)  wPI: 7.00 qty: 0.001m @ prc: 117.209 bid: 117.202 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:00:22.230 USDJPY SEL *>>>>>>S (7.0)  wPI: 7.00 qty: 0.006m @ prc: 117.209 bid: 117.202 LMAXoid: AAGJIwAAAAJpLp4/
12-16 06:14:50.571 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.001m @ prc: 117.231 ask: 117.234 LMAXoid: AAGJIwAAAAJpLsWE
12-16 14:27:52.423 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.005m @ prc: 116.048 bid: 116.039 LMAXoid: AAGJIwAAAAJpYEQA
12-16 14:32:18.396 USDJPY SEL *>>>>>>>>>>S (11.0)  wPI: 11.00 qty: 0.005m @ prc: 116.047 bid: 116.036 LMAXoid: AAGJIwAAAAJpYOsc
12-16 15:05:24.322 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.004m @ prc: 116.648 ask: 116.651 LMAXoid: AAGJIwAAAAJpaIY1
12-16 15:05:24.337 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.002m @ prc: 116.648 ask: 116.651 LMAXoid: AAGJIwAAAAJpaIY1
12-16 15:14:41.240 USDJPY SEL *>>>>>S (6.0)  wPI: 6.00 qty: 0.001m @ prc: 116.423 bid: 116.417 LMAXoid: AAGJIwAAAAJpakOK
12-16 15:14:43.608 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.004m @ prc: 116.423 bid: 116.418 LMAXoid: AAGJIwAAAAJpakOK
12-16 15:25:01.826 USDJPY BUY B<<<<<<* (7.0)  wPI: 7.00 qty: 0.001m @ prc: 116.783 ask: 116.79 LMAXoid: AAGJIwAAAAJpbDVU
12-16 15:25:04.721 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.004m @ prc: 116.783 ask: 116.786 LMAXoid: AAGJIwAAAAJpbDVU
12-16 15:42:40.510 USDJPY SEL *>>S (3.0)  wPI: 3.00 qty: 0.01m @ prc: 116.762 bid: 116.759 LMAXoid: AAGJIwAAAAJpbu4E
12-16 18:11:19.230 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.006m @ prc: 117.275 bid: 117.27 LMAXoid: AAGJIwAAAAJpgVNQ
12-16 18:26:32.103 USDJPY SEL *>>>>>>S (7.0)  wPI: 7.00 qty: 0.006m @ prc: 117.128 bid: 117.121 LMAXoid: AAGJIwAAAAJpgtmg
12-16 18:32:26.771 USDJPY SEL *>>>>>>>>>>>>>>S (15.0)  wPI: 15.00 qty: 0.006m @ prc: 117.088 bid: 117.073 LMAXoid: AAGJIwAAAAJpg5Js
12-16 18:35:58.992 USDJPY SEL *>>>>>>>S (8.0)  wPI: 8.00 qty: 0.002m @ prc: 117.208 bid: 117.2 LMAXoid: AAGJIwAAAAJpghGG
12-16 18:35:59.030 USDJPY SEL *>>>>>>>S (8.0)  wPI: 8.00 qty: 0.002m @ prc: 117.208 bid: 117.2 LMAXoid: AAGJIwAAAAJpghGG
12-16 18:35:59.041 USDJPY SEL *>>>>>>>S (8.0)  wPI: 8.00 qty: 0.002m @ prc: 117.208 bid: 117.2 LMAXoid: AAGJIwAAAAJpghGG
12-16 18:41:45.379 USDJPY SEL *>>>>>>>>>>>>>>>S (16.0)  wPI: 16.00 qty: 0.006m @ prc: 117.24 bid: 117.224 LMAXoid: AAGJIwAAAAJphF0Y
12-16 19:59:42.272 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.001m @ prc: 117.24 bid: 117.236 LMAXoid: AAGJIwAAAAJpiSef
12-16 20:02:15.329 USDJPY SEL *>>>>>>>S (8.0)  wPI: 8.00 qty: 0.001m @ prc: 117.217 bid: 117.209 LMAXoid: AAGJIwAAAAJpiTUk
12-16 20:23:49.174 USDJPY BUY B<<<<* (5.0)  wPI: 5.00 qty: 0.001m @ prc: 117.247 ask: 117.252 LMAXoid: AAGJIwAAAAJpilu4
12-16 20:26:17.770 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.001m @ prc: 117.234 bid: 117.23 LMAXoid: AAGJIwAAAAJpioU3
12-16 20:30:34.853 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.002m @ prc: 117.215 bid: 117.211 LMAXoid: AAGJIwAAAAJpirkT
12-16 20:31:30.451 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.001m @ prc: 117.234 bid: 117.229 LMAXoid: AAGJIwAAAAJpioU3
12-16 20:43:10.142 USDJPY SEL *>>S (3.0)  wPI: 3.00 qty: 0.003m @ prc: 117.082 bid: 117.079 LMAXoid: AAGJIwAAAAJpi7iJ
12-16 20:48:07.261 USDJPY SEL *>>>>>S (6.0)  wPI: 6.00 qty: 0.003m @ prc: 116.861 bid: 116.855 LMAXoid: AAGJIwAAAAJpjDiV
12-16 20:49:38.654 USDJPY SEL *>>>>>S (6.0)  wPI: 6.00 qty: 0.002m @ prc: 116.799 bid: 116.793 LMAXoid: AAGJIwAAAAJpjFJB
12-16 20:51:26.302 USDJPY SEL *>>>>>>>>>S (10.0)  wPI: 10.00 qty: 0.003m @ prc: 116.748 bid: 116.738 LMAXoid: AAGJIwAAAAJpjHST
12-17 02:54:30.221 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.004m @ prc: 116.762 bid: 116.758 LMAXoid: AAGJIwAAAAJpj3ND
12-17 02:54:30.224 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.001m @ prc: 116.762 bid: 116.758 LMAXoid: AAGJIwAAAAJpj3ND
12-17 16:44:08.926 USDJPY SEL *>>>>>>>>>>S (11.0)  wPI: 11.00 qty: 0.003m @ prc: 117.529 bid: 117.518 LMAXoid: AAGJIwAAAAJpusrI
12-17 17:22:01.226 USDJPY SEL *>>>>>>>>>>>>>S (14.0)  wPI: 14.00 qty: 0.005m @ prc: 117.74 bid: 117.726 LMAXoid: AAGJIwAAAAJpvfmg
12-17 17:22:28.444 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.005m @ prc: 117.709 ask: 117.712 LMAXoid: AAGJIwAAAAJpvf1u
12-17 17:24:05.771 USDJPY BUY B<<<<<* (6.0)  wPI: 6.00 qty: 0.005m @ prc: 117.775 ask: 117.781 LMAXoid: AAGJIwAAAAJpvit+
12-17 19:34:51.318 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.003m @ prc: 117.646 bid: 117.642 LMAXoid: AAGJIwAAAAJpyaX4
12-17 19:34:51.470 USDJPY SEL *>>>>>>>>>S (10.0)  wPI: 10.00 qty: 0.003m @ prc: 117.661 bid: 117.651 LMAXoid: AAGJIwAAAAJpyaX8
12-17 19:34:55.072 USDJPY SEL *>>>S (4.0)  wPI: 4.00 qty: 0.003m @ prc: 117.676 bid: 117.672 LMAXoid: AAGJIwAAAAJpyaX/
12-17 19:37:13.421 USDJPY BUY B<<<<<<<<* (9.0)  wPI: 9.00 qty: 0.003m @ prc: 117.633 ask: 117.642 LMAXoid: AAGJIwAAAAJpyarv
12-17 19:37:13.626 USDJPY BUY B<<<* (4.0)  wPI: 4.00 qty: 0.003m @ prc: 117.623 ask: 117.627 LMAXoid: AAGJIwAAAAJpybX+
12-17 19:37:13.927 USDJPY BUY B<<<* (4.0)  wPI: 4.00 qty: 0.003m @ prc: 117.61 ask: 117.614 LMAXoid: AAGJIwAAAAJpydPr
12-17 19:41:49.871 USDJPY SEL *>>>>>>>>S (9.0)  wPI: 9.00 qty: 0.003m @ prc: 118.196 bid: 118.187 LMAXoid: AAGJIwAAAAJpymbZ
12-17 19:45:38.780 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.003m @ prc: 118.384 bid: 118.379 LMAXoid: AAGJIwAAAAJpyvzv
12-17 21:23:01.042 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.002m @ prc: 118.639 bid: 118.634 LMAXoid: AAGJIwAAAAJp0PpO
12-17 21:23:21.210 USDJPY SEL *>>>>>S (6.0)  wPI: 6.00 qty: 0.001m @ prc: 118.666 bid: 118.66 LMAXoid: AAGJIwAAAAJp0O4K
12-17 21:23:21.669 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.001m @ prc: 118.666 bid: 118.661 LMAXoid: AAGJIwAAAAJp0O4K
12-17 21:23:24.719 USDJPY SEL *>>>>>>S (7.0)  wPI: 7.00 qty: 0.002m @ prc: 118.7 bid: 118.693 LMAXoid: AAGJIwAAAAJp0OL5
12-17 21:23:25.119 USDJPY SEL *>>S (3.0)  wPI: 3.00 qty: 0.002m @ prc: 118.726 bid: 118.723 LMAXoid: AAGJIwAAAAJp0N/k
12-18 03:40:56.924 USDJPY BUY B<<<<<<<<<<* (11.0)  wPI: 11.00 qty: 0.025m @ prc: 118.526 ask: 118.537 LMAXoid: AAGJIwAAAAJp02V2
12-18 14:32:14.717 USDJPY SEL *>>>>S (5.0)  wPI: 5.00 qty: 0.004m @ prc: 119.139 bid: 119.134 LMAXoid: AAGJIwAAAAJp8xQS
12-18 17:38:22.888 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.004m @ prc: 119.035 ask: 119.038 LMAXoid: AAGJIwAAAAJqA6hS
12-18 17:39:56.044 USDJPY BUY B<<* (3.0)  wPI: 3.00 qty: 0.001m @ prc: 119.035 ask: 119.038 LMAXoid: AAGJIwAAAAJqA6hS

So we have really been able to thrash LMAX and get all of the bugs out of our platform, so I can highly recommend anyone who has the ability to write to a custom API that they use LMAX for scalping.

HyperScalper
 
Last edited:

hyperscalper

Member
89 10
On LMAX here's some more real data on Market Data tick rates, lest people think that their Java API https interface is slow.

Many may be under the impression that they need to do FIX, but that is usually not true. Either the Java API or their dotNet API, both of which are web based APIs, are more than fast enough for all but the most demanding of access.

By co-locating our server to less than 10 msecs ping times from the LMAX exchange, we can get software "reactivity delays" certainly under 50 msecs, and perhaps under 20 msecs just using the ordinary internet. But theoretically we'd have about 100 msecs between successive price updates. Order entry latencies would be faster. Before you laugh, I know that there are systems faster than that, but sheer speed is not the "game" we're playing. We use multiple incremental positional trading techniques, so we don't even try to complete with the colocated supercomputers and <1 msec latencies.

As you can see below, on a single symbol subscribed, we see nearly 12 updates per second, where each update carries 5 levels either side of market depth. You need to know how to write multi-threaded concurrency friendly code, of course...

HyperScalper

Code:
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.69 maxRate: 11.83 minRate: 2.15
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.10 maxRate: 11.10 minRate: 2.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.73 maxRate: 10.79 minRate: 2.34
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.00 maxRate: 10.52 minRate: 2.74
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.47 maxRate: 10.98 minRate: 1.76
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.17 maxRate: 10.87 minRate: 1.21
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.22 maxRate: 10.47 minRate: 1.26
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.68 maxRate: 10.79 minRate: 1.87
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.97 maxRate: 10.85 minRate: 2.67
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.43 maxRate: 10.62 minRate: 2.35
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.38 maxRate: 10.82 minRate: 2.03
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.27 maxRate: 10.92 minRate: 2.36
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.98 maxRate: 10.68 minRate: 0.86
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.52 maxRate: 11.04 minRate: 1.90
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.87 maxRate: 10.88 minRate: 3.67
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.62 maxRate: 10.74 minRate: 2.81
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.25 maxRate: 11.04 minRate: 3.39
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.08 maxRate: 10.81 minRate: 2.59
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.75 maxRate: 11.00 minRate: 3.57
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.87 maxRate: 10.85 minRate: 2.96
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.73 maxRate: 10.87 minRate: 2.99
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.77 maxRate: 10.89 minRate: 3.13
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.08 maxRate: 11.00 minRate: 3.47
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.03 maxRate: 10.96 minRate: 3.24
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.22 maxRate: 10.89 minRate: 3.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.53 maxRate: 10.92 minRate: 2.68
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.02 maxRate: 10.92 minRate: 2.99
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.85 maxRate: 11.04 minRate: 3.60
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.92 maxRate: 11.05 minRate: 2.04
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.02 maxRate: 10.96 minRate: 2.65
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.33 maxRate: 10.86 minRate: 3.47
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.60 maxRate: 10.88 minRate: 2.30
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.07 maxRate: 10.64 minRate: 3.22
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.88 maxRate: 10.60 minRate: 2.70
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.05 maxRate: 11.05 minRate: 2.81
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.87 maxRate: 10.88 minRate: 2.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.73 maxRate: 10.88 minRate: 2.65
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.55 maxRate: 10.59 minRate: 2.46
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.57 maxRate: 10.86 minRate: 1.37
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.52 maxRate: 10.76 minRate: 2.19
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.58 maxRate: 10.92 minRate: 1.68
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.65 maxRate: 10.62 minRate: 2.51
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.20 maxRate: 10.62 minRate: 2.71
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.98 maxRate: 10.76 minRate: 2.43
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.22 maxRate: 10.94 minRate: 2.05
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.43 maxRate: 11.03 minRate: 2.36
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.37 maxRate: 10.72 minRate: 1.99
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.27 maxRate: 10.80 minRate: 2.08
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.28 maxRate: 11.05 minRate: 2.86
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.13 maxRate: 10.57 minRate: 1.60
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.17 maxRate: 11.06 minRate: 1.15
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.42 maxRate: 10.70 minRate: 1.68
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.57 maxRate: 10.85 minRate: 1.79
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.57 maxRate: 10.98 minRate: 1.99
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.60 maxRate: 10.94 minRate: 1.55
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.25 maxRate: 10.62 minRate: 1.20
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.62 maxRate: 9.14 minRate: 1.46
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.53 maxRate: 10.82 minRate: 0.92
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.33 maxRate: 9.99 minRate: 1.20
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.07 maxRate: 10.65 minRate: 1.86
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.17 maxRate: 10.58 minRate: 1.30
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.40 maxRate: 10.54 minRate: 1.15
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.12 maxRate: 10.63 minRate: 1.18
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.87 maxRate: 10.65 minRate: 1.52
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.43 maxRate: 11.00 minRate: 1.95
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.75 maxRate: 10.85 minRate: 1.82
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.67 maxRate: 10.95 minRate: 1.72
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.23 maxRate: 9.98 minRate: 2.70
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.25 maxRate: 10.60 minRate: 2.12
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.70 maxRate: 10.95 minRate: 1.29
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.38 maxRate: 10.92 minRate: 2.66
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.23 maxRate: 10.78 minRate: 4.43
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.22 maxRate: 11.01 minRate: 1.90
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.47 maxRate: 10.64 minRate: 2.66
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.90 maxRate: 10.55 minRate: 1.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.50 maxRate: 10.92 minRate: 2.15
LMAX Ticks per Second Rate for: USDJPY avgRate: 9.62 maxRate: 11.10 minRate: 5.19
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.57 maxRate: 11.01 minRate: 3.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.00 maxRate: 10.64 minRate: 2.40
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.20 maxRate: 11.16 minRate: 2.83
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.93 maxRate: 10.74 minRate: 1.33
LMAX Ticks per Second Rate for: USDJPY avgRate: 8.50 maxRate: 11.07 minRate: 3.72
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.20 maxRate: 11.06 minRate: 3.45
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.93 maxRate: 10.82 minRate: 2.21
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.60 maxRate: 10.87 minRate: 3.11
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.95 maxRate: 10.88 minRate: 3.36
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.85 maxRate: 10.93 minRate: 3.44
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.62 maxRate: 10.86 minRate: 3.10
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.55 maxRate: 10.91 minRate: 2.47
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.07 maxRate: 10.95 minRate: 1.89
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.77 maxRate: 11.09 minRate: 2.76
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.37 maxRate: 10.98 minRate: 3.27
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.58 maxRate: 11.01 minRate: 1.92
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.53 maxRate: 10.95 minRate: 1.87
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.30 maxRate: 10.64 minRate: 1.92
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.78 maxRate: 10.73 minRate: 3.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.67 maxRate: 10.87 minRate: 2.91
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.02 maxRate: 10.89 minRate: 1.63
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.62 maxRate: 10.98 minRate: 2.19
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.37 maxRate: 11.01 minRate: 1.92
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.18 maxRate: 10.44 minRate: 1.38
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.20 maxRate: 10.82 minRate: 1.55
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.32 maxRate: 10.76 minRate: 3.03
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.27 maxRate: 10.88 minRate: 3.27
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.72 maxRate: 10.95 minRate: 2.14
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.10 maxRate: 10.60 minRate: 2.01
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.62 maxRate: 11.07 minRate: 3.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.82 maxRate: 10.80 minRate: 2.09
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.65 maxRate: 10.73 minRate: 2.63
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.73 maxRate: 10.82 minRate: 2.77
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.38 maxRate: 10.62 minRate: 2.24
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.63 maxRate: 11.07 minRate: 2.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.93 maxRate: 10.89 minRate: 1.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.35 maxRate: 11.05 minRate: 2.69
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.02 maxRate: 10.85 minRate: 2.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.45 maxRate: 10.26 minRate: 2.27
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.58 maxRate: 11.00 minRate: 2.41
LMAX Ticks per Second Rate for: USDJPY avgRate: 6.43 maxRate: 10.87 minRate: 2.90
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.03 maxRate: 11.06 minRate: 3.29
LMAX Ticks per Second Rate for: USDJPY avgRate: 7.12 maxRate: 11.01 minRate: 4.00
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.87 maxRate: 10.76 minRate: 2.30
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.45 maxRate: 10.88 minRate: 1.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.70 maxRate: 10.79 minRate: 1.31
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.45 maxRate: 10.92 minRate: 2.54
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.68 maxRate: 11.06 minRate: 2.83
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.97 maxRate: 10.78 minRate: 2.91
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.72 maxRate: 9.60 minRate: 1.16
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.13 maxRate: 10.59 minRate: 2.06
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.63 maxRate: 10.76 minRate: 1.82
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.90 maxRate: 9.56 minRate: 1.30
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.72 maxRate: 10.79 minRate: 1.11
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.80 maxRate: 10.08 minRate: 1.14
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.88 maxRate: 10.74 minRate: 1.50
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.60 maxRate: 10.57 minRate: 2.15
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.18 maxRate: 10.88 minRate: 1.70
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.57 maxRate: 10.75 minRate: 2.21
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.72 maxRate: 10.65 minRate: 2.07
LMAX Ticks per Second Rate for: USDJPY avgRate: 5.93 maxRate: 11.00 minRate: 2.32
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.18 maxRate: 10.96 minRate: 1.99
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.65 maxRate: 9.70 minRate: 1.42
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.72 maxRate: 10.31 minRate: 2.18
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.50 maxRate: 10.53 minRate: 2.03
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.57 maxRate: 10.64 minRate: 2.39
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.27 maxRate: 10.58 minRate: 1.71
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.60 maxRate: 10.68 minRate: 1.65
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.53 maxRate: 10.63 minRate: 1.78
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.87 maxRate: 10.64 minRate: 1.12
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.33 maxRate: 10.88 minRate: 1.35
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.88 maxRate: 10.62 minRate: 1.79
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.98 maxRate: 10.56 minRate: 1.68
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.98 maxRate: 10.05 minRate: 1.12
LMAX Ticks per Second Rate for: USDJPY avgRate: 1.78 maxRate: 5.55 minRate: 0.53
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.85 maxRate: 9.61 minRate: 1.84
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.75 maxRate: 9.28 minRate: 1.77
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.02 maxRate: 7.31 minRate: 1.05
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.60 maxRate: 10.59 minRate: 1.51
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.80 maxRate: 8.58 minRate: 1.21
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.28 maxRate: 9.62 minRate: 1.44
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.03 maxRate: 8.84 minRate: 1.17
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.27 maxRate: 10.63 minRate: 1.54
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.57 maxRate: 10.74 minRate: 1.11
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.22 maxRate: 9.35 minRate: 1.54
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.67 maxRate: 10.18 minRate: 1.79
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.97 maxRate: 10.56 minRate: 1.79
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.97 maxRate: 10.86 minRate: 1.73
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.08 maxRate: 10.62 minRate: 1.75
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.60 maxRate: 10.80 minRate: 1.26
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.10 maxRate: 10.45 minRate: 1.56
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.22 maxRate: 10.34 minRate: 1.49
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.72 maxRate: 9.65 minRate: 1.54
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.90 maxRate: 10.88 minRate: 1.19
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.22 maxRate: 10.48 minRate: 0.86
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.98 maxRate: 10.66 minRate: 1.55
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.45 maxRate: 10.37 minRate: 1.80
LMAX Ticks per Second Rate for: USDJPY avgRate: 2.87 maxRate: 10.14 minRate: 1.27
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.12 maxRate: 10.87 minRate: 1.58
LMAX Ticks per Second Rate for: USDJPY avgRate: 4.08 maxRate: 10.99 minRate: 1.90
LMAX Ticks per Second Rate for: USDJPY avgRate: 3.65 maxRate: 10.57 minRate: 1.51

HyperScalper
 
Last edited:

Stargunner

Active member
127 19
They're probably not the best broker for scalpers, since it doesn't offer level II, but CMC markets do allow scalping as a trading strategy.

I found this out after speaking to them after I executed a few FX and DAX trades that were very short. The client services guy I spoke to said scalping there is fine as long as traders don't use any third party software. Just thought I'd check because currently I deal a lot with them and don't want to **** them off.
 

hyperscalper

Member
89 10
They're probably not the best broker for scalpers, since it doesn't offer level II, but CMC markets do allow scalping as a trading strategy.

I found this out after speaking to them after I executed a few FX and DAX trades that were very short. The client services guy I spoke to said scalping there is fine as long as traders don't use any third party software. Just thought I'd check because currently I deal a lot with them and don't want to **** them off.

No "third party software" ? What does that mean? Just wondering. Yeah, if you find a decent broker, you don't want to get kicked off for violating "restrictions" on Terms of Service (which might be unwritten). I use LMAX and definitely don't want to get booted off, since there's nothing else like it anywhere.

HyperScalper
 

Stargunner

Active member
127 19
No "third party software" ? What does that mean? Just wondering. Yeah, if you find a decent broker, you don't want to get kicked off for violating "restrictions" on Terms of Service (which might be unwritten). I use LMAX and definitely don't want to get booted off, since there's nothing else like it anywhere.

HyperScalper

I think that they're just trying to stop you using algo's, but who knows!

I have been tempted by things such as LMAX, even though the majority of my trades are taken overnight. FX is a fragmented market, and it's harder to get the best price.
 

Wicked_Daddy

Active member
128 48
Hyper,
Perhaps a dumb question; but how do you have an account with LMAX when they don't allow U.S. residents to have an account?
 

hyperscalper

Member
89 10
Hyper,
Perhaps a dumb question; but how do you have an account with LMAX when they don't allow U.S. residents to have an account?

No, man, that's a good question. I can't do it as a U.S. resident and, although I haven't tried yet, I also don't think I could do it even if I formed an offshore corporation, since they would see that I am a U.S. resident as a beneficiary (but I haven't researched that fully).

My solution: I am partnered with one of my German clients, and through his (offshore) company the account at LMAX is opened, so I am "employed" as the Trader and Technical Developer.

I'm not a Republican but if they would get rid of FATCA's burden on foreign brokerages so that we could legally get foreign brokerage accounts, then I'd hold my nose and vote for them. Having said that, there are some foreign brokerages like Sensus Capital who cheerfully accept U.S. persons. But neither LMAX nor Dukascopy is among those brokerages.

FATCA makes all of the rest of the world a bunch of proxies for the IRS, as I'm sure you know... :( and foreign brokerages don't want the grief.

BY THE WAY, I DON'T THINK ANYBODY WILL BE UPSET if I reference this
forum posting. It is for the good of all U.S. Traders and is a great reference
for possibly finding a compliant and willing foreign brokerage:

http://forums.babypips.com/forex-brokers/36221-going-offshore-escape-cftc.html

HyperScalper
 
Last edited:

Wicked_Daddy

Active member
128 48
No, man, that's a good question. I can't do it as a U.S. resident and, although I haven't tried yet, I also don't think I could do it even if I formed an offshore corporation, since they would see that I am a U.S. resident as a beneficiary (but I haven't researched that fully).

My solution: I am partnered with one of my German clients, and through his (offshore) company the account at LMAX is opened, so I am "employed" as the Trader and Technical Developer.

I'm not a Republican but if they would get rid of FATCA's burden on foreign brokerages so that we could legally get foreign brokerage accounts, then I'd hold my nose and vote for them. Having said that, there are some foreign brokerages like Sensus Capital who cheerfully accept U.S. persons. But neither LMAX nor Dukascopy is among those brokerages.

FATCA makes all of the rest of the world a bunch of proxies for the IRS, as I'm sure you know... :( and foreign brokerages don't want the grief.

BY THE WAY, I DON'T THINK ANYBODY WILL BE UPSET if I reference this
forum posting. It is for the good of all U.S. Traders and is a great reference
for possibly finding a compliant and willing foreign brokerage:

http://forums.babypips.com/forex-brokers/36221-going-offshore-escape-cftc.html

HyperScalper

Thank you. Interesting way to get past that issue. In my search for a decent U.S. Forex broker, I seem to be coming up short. Either the spreads and/or commissions seem ridiculous or the reviews of the broker's service sucks.

I have been trading a demo account with FXCM and I've been satisfied with my method to produce daily income and their tools/execution. But the spreads are high by comparison to others and I've taken a scalping approach to the trading, so I need tight spreads and low costs per trade.The search continues.

Thanks again!
 

hyperscalper

Member
89 10
Look into Sensus maybe

Thank you. Interesting way to get past that issue. In my search for a decent U.S. Forex broker, I seem to be coming up short. Either the spreads and/or commissions seem ridiculous or the reviews of the broker's service sucks.

I have been trading a demo account with FXCM and I've been satisfied with my method to produce daily income and their tools/execution. But the spreads are high by comparison to others and I've taken a scalping approach to the trading, so I need tight spreads and low costs per trade.The search continues.

Thanks again!

Hey, man, I feel your pain and frustration. I may have mentioned I'm a U.S. person as well, and the only way I get access to these Euro Brokerages like Dukascopy and LMAX is by partnership with my German ex-client, in kicking off our own proprietary trading operation.

Now, I'm not sure of the details, but I'd suggest you contact Sensus Capital they are very open about accepting U.S. clients and, although this is not specifically my area of expertise, they also offer MetaTrader and I think it's a "tight" integration.

If you explore in more detail, please post back to the rest of us. But they are a high quality, client friendly brokerage and my German business partner has worked with them for several years. We "copy" trades into their MetaTrader interface from Dukascopy JForex robots into Sensus PAMM accounts he manages. Sensus Capital is rock solid, and U.S. friendly and compliant. Anyway, like I said, I don't know all the details but it's my suggestion.

I believe my partner said that Sensus is also a Liquidity Provider to LMAX, so they are a solid operation. Not sure how they handle the FIFO crap, but that should not restrict your trading sequences; rather, that is a "back office" calculation for NFA compliance. Heck, even MB Trading does that right as a back office calculation, last time I checked. But I digress..... :)

[Edit: I'm seriously considering doing some Sensus Capital work once other development issues are resolved, and as a U.S. client. I see here in their trading guide that intra-currency-pair Hedging is supported with their MT4 platform, and 1k minimum trade sizes, 1k Euro minimum equivalent funding, so sounds exciting for smaller traders as well. This means you are not FIFO restricted at the Order Entry level, but that your statements will probably be FIFO-ized...
https://www.sensus-capital.com/medi...7da-81a64391164b/trading_rulesrelease_1_6.pdf
I'm eventually going to use their FIX API but that's a few months off, once we do the same thing with LMAX... work never stops ! ]

HyperScalper
 
Last edited:

MajorMagnuM

Legendary member
9,284 888
Thank you. Interesting way to get past that issue. In my search for a decent U.S. Forex broker, I seem to be coming up short. Either the spreads and/or commissions seem ridiculous or the reviews of the broker's service sucks.

I have been trading a demo account with FXCM and I've been satisfied with my method to produce daily income and their tools/execution. But the spreads are high by comparison to others and I've taken a scalping approach to the trading, so I need tight spreads and low costs per trade.The search continues.

Thanks again!

i thought fxcm had tightened their spreads recently. Are you finding otherwise?
 

Wicked_Daddy

Active member
128 48
Hey, man, I feel your pain and frustration. I may have mentioned I'm a U.S. person as well, and the only way I get access to these Euro Brokerages like Dukascopy and LMAX is by partnership with my German ex-client, in kicking off our own proprietary trading operation.

Now, I'm not sure of the details, but I'd suggest you contact Sensus Capital they are very open about accepting U.S. clients and, although this is not specifically my area of expertise, they also offer MetaTrader and I think it's a "tight" integration.

If you explore in more detail, please post back to the rest of us. But they are a high quality, client friendly brokerage and my German business partner has worked with them for several years. We "copy" trades into their MetaTrader interface from Dukascopy JForex robots into Sensus PAMM accounts he manages. Sensus Capital is rock solid, and U.S. friendly and compliant. Anyway, like I said, I don't know all the details but it's my suggestion.

I believe my partner said that Sensus is also a Liquidity Provider to LMAX, so they are a solid operation. Not sure how they handle the FIFO crap, but that should not restrict your trading sequences; rather, that is a "back office" calculation for NFA compliance. Heck, even MB Trading does that right as a back office calculation, last time I checked. But I digress..... :)

[Edit: I'm seriously considering doing some Sensus Capital work once other development issues are resolved, and as a U.S. client. I see here in their trading guide that intra-currency-pair Hedging is supported with their MT4 platform, and 1k minimum trade sizes, 1k Euro minimum equivalent funding, so sounds exciting for smaller traders as well. This means you are not FIFO restricted at the Order Entry level, but that your statements will probably be FIFO-ized...
https://www.sensus-capital.com/medi...7da-81a64391164b/trading_rulesrelease_1_6.pdf
I'm eventually going to use their FIX API but that's a few months off, once we do the same thing with LMAX... work never stops ! ]

HyperScalper

Thanks for all this info. I will be checking them out and get back with details.
 

Wicked_Daddy

Active member
128 48
i thought fxcm had tightened their spreads recently. Are you finding otherwise?

I have not been with their demo account for long so I wouldn't know if they've changed recently. I have a two part issue:
1. I am offered an FXCM account through my current equities brokerage and that partnership has its own pricing: straight spread on entry with no commissions. Sounds good but the average spread is 2.5 pips. <GASP!>
2. I can go direct to FXCM and pay the lower spread plus a commission. The spread on EU averages .3 pips, so that seems good. But the accompanying commission seems high compared to others. That said, it's still a better deal than the account offered through my equities broker. Perhaps it's a better deal overall, provided the service is worth it and FXCM is not trading against me.

Anybody have experience with FXCM?
 

ChuckNZ

Newbie
4 0
Axitrader, GlobalPrime, IC Markets, CityIndex, CLMforex, Lmax, Synergy FX or Armada? All these brokers seem to be ok. Are they really ECN and do you think they are fine for scalping trading? Anybody used these brokers and were happy with them?

I have accounts with four of the brokers you mention above and I'm very happy with all of them. The combined spreads and commissions are low enough to facilitate scalping. One thing I keep meaning to watch is swap charges. If the end of day processing catches me in the middle of a quick scalp, the swap charges can eat into the profits or even cause a small loss.

I was mostly using Armada until they transferred their retail business to Tickmill. I haven't had enough experience with Tickmill to comment yet, but so far it looks good.

Global Prime has also been good, but their $500 minimum account size puts off some of the smaller traders and their commissions are higher than Tickmill.

I have had some order fill disputes with some of the brokers you mention and avoid trading with them on "big news" days.
 
 
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