Good Home for a Forex Scalper?

5umBloke

Newbie
4 0
Hi peeps,

Looking for some advice on SB brokers for a specific forex strategy.

I used to work in the market (LSE) back in the late eighties, traded options, bonds and stocks for private and institutional clients. Also worked in M&A. I'm therefore reasonably savvy but I split from the market after not many years and went washing dishes and working in ski resorts, travelling and general fun, etc.

For reasons I won't bore ya with I've ended up physically disabled and don't have oodles of cash, despite my promising career start :LOL: but I do have a grand spare to party in the spread betting market with (and too much time on my hands).

For two weeks I've been practicing a trading regime on the DFMarkets dummy account - I trade about five times a day using no more than 50% of the margin I'll be funding whatever account I might open.

I'm usually in and out of the market in 5 -15 minutes on each trade and making reliable daily profits I'm happy with. Occasionally I'll let a trade run longer but I'm ruthless about cutting losses.

I've decided to take the plunge and go live with this strategy but reading this thread am wondering about which SB company to go with as, from some comments herein, it seems I'd be classed as scalping and not welcomed at every door. Trying to research firms on the net seems like wading through treacle for some reason.

The DFMarkets platform has been working for me - I've yet to wade through their full T&C's to check if my trading would be acceptable to them and I've found it hard to find recent reviews/recommendations for them.

I've also looked at Alpari who offer SB accounts trading on MT4 - look OK but again need to read/wade through the full T&C's.

Does anyone have any comment on either of the above brokers please? Or, any specific recommendations of SB brokers who will not object to the kinds of trading described above?

Any helps and advice gratefully received.
 
Last edited:

NVP

Legendary member
37,584 2,008
plenty of threads/ comments comments around T2Win on brokers 5.............and some broker reps as well

also why not phone up the ones you like and greill them ............also try to negociate down the spreads and anything else you want .......

good luck
N
 

postman

Legendary member
26,365 3,342
Hi peeps,

Looking for some advice on SB brokers for a specific forex strategy.
...

I'm usually in and out of the market in 5 -15 minutes on each trade and making reliable daily profits I'm happy with. Occasionally I'll let a trade run longer but I'm ruthless about cutting losses.

I've decided to take the plunge and go live with this strategy but reading this thread am wondering about which SB company to go with as, from some comments herein, it seems I'd be classed as scalping and not welcomed at every door. Trying to research firms on the net seems like wading through treacle for some reason.

...

Does anyone have any comment on either of the above brokers please? Or, any specific recommendations of SB brokers who will not object to the kinds of trading described above?

Any helps and advice gratefully received.

Some people claim SB's have T's and C's to disallow scalping but I've never seen any, just crack on.
If anyone posts on here that they do, you would think they would post a link to it otherwise its a 'heard it down the pub' comment.
 

5umBloke

Newbie
4 0
Thanks NVP - having found some dire forums and blatant advertorial sites I've now realised this one's a bit of a gem and I'm digging through the archives.

postman - thanks also. The comments in this thread rather put me off as it seems people had bad experiences. Also I've read on the forum that IG don't like scalpers. Would you put this down to sour grapes?
 

Splitlink

Legendary member
10,850 1,233
Some people claim SB's have T's and C's to disallow scalping but I've never seen any, just crack on.
If anyone posts on here that they do, you would think they would post a link to it otherwise its a 'heard it down the pub' comment.

I have heard that it is not wise to use the SB firms own charting service, so it might be a good idea to have another source for comparison.

I am not an advocate for full time trading, so many lose their shirt. We, all, think that we are the exception to the rule and, who knows?

I trade as a pastime. Not very good, just good enough to keep up my interest. Perhaps that is the reason for my doubtful attitude on going fulltime.
 

postman

Legendary member
26,365 3,342
I have heard that it is not wise to use the SB firms own charting service, so it might be a good idea to have another source for comparison.

....

I'm curious to know which 'Bar' you heard that in? ;)
Did the other chap give a reason for this when he said it?
 

Splitlink

Legendary member
10,850 1,233
I'm curious to know which 'Bar' you heard that in? ;)
Did the other chap give a reason for this when he said it?

I think that it was Aag. An opinion, but a valid one considering the effort and sincerity that he puts into his thread-

Forex trading is easier to keep a check on than index trading. I have checked Forex, myself, and don't find any difference between prices--at least. for my purposes.
However, a full time trader must check out all ideas, for and against and better before. than after.
 

SuddenDeath

Legendary member
14,063 143
I think that it was Aag. An opinion, but a valid one considering the effort and sincerity that he puts into his thread-

Forex trading is easier to keep a check on than index trading. I have checked Forex, myself, and don't find any difference between prices--at least. for my purposes.
However, a full time trader must check out all ideas, for and against and better before. than after.

Hi Splitlink

what is "aag" ?

thanks
 

5umBloke

Newbie
4 0
Thanks for all the feedback guys. Have found numerous claims of people being put on dealers or spreads widening.

Alpari have a spread of 2.6 which is pretty hefty but they make no markets and everything is hedged. Customer service seems good so far. Going to keep looking around.
 

Stargunner

Active member
127 19
MT4 and Alpari - No frills, but good customer service and allow scalping.

Only reason I no longer trade with them is because my strategies have changed to purely individual stocks and indices.
 
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Sonicscooter

Experienced member
1,811 351
Some people claim SB's have T's and C's to disallow scalping but I've never seen any, just crack on.
If anyone posts on here that they do, you would think they would post a link to it otherwise its a 'heard it down the pub' comment.

I agree, after several chats regarding this, the answers where the same, ie do whatever you like on the online platform, but don't try it on if calling the dealing desk...........not sure how you would use the dealing desk if scalping though.....:?:
 

postman

Legendary member
26,365 3,342
Thats NOT scalping, thats taking advantage of your SB's crappy system.
Scalping can be done on any market including SB's.

Does anyone have a letter or email from their SB saying "We closed your account because your a scalper" :whistling

Please share it with us if you do.
 
 
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