Scalping is prohibited by Brokers?

[Anonymous]

It isn't thinkable about the company's regulators either.

It says it is subject to "all applicable regulations", "particularly in the area of money laundering".

So it doesn't have to be regulated with regard to matters like:

1. promoting efficient orderly and fair markets;
2. helping retail consumers achieve a fair deal; and
3. improving business capability and effectiveness

And what about the honesty and business ethics of the brokerage firm? What are those regulated by? The whim and fancy of those who make the rules?

 

[phildunn]

New marketiva scalping rule:

The maximum number of short-term (shorter than 5 minutes) positions a trader can have in a 4-hour period is 10. If a trader closes more than 40 (you are at 41) short-term positions or more than 150 total positions in 7 consecutive days, such trader's account will be suspended.

So if u trade more than 5 minutes, u won't face any problem regards to scalping.

 

[onurene]

Surely this isnt best deal in town...
When you sign up you need to accept rules and conditions, so if their vital points are written in upperscript i dont see a problem, you know where you are getting into.
But i dont see why would one want that...

 

[Anonymous]

When you check its "Contact Information" you get a "contact by e-mail", no physical address.

When you look at "Service Agreement" it looks like it is "governed by, construed and enforced in all respects by the laws of the British Virgin Islands" (Clause 24. Governing Law and Jurisdiction).

When you look at "About Marketiva" you see it is an "international business corporation", presumably it has tax advantages, privacy etc. as an "international business corporation" in an offshore tax haven.

When you look lower down you see its "regular mail" address is Switzerland.

Don't you wonder why does it have a Swiss address with a British Virgin Island's jurisdiction. Offshore companies, including offshore trusts can provide very good asset protection, whose asset?

Presumably the authorities in that jurisdiction does not bother what an "international business corporation" does outside that jurisdiction so long as the money is not derived from that jurisdiction's people.

 

[onurene]

I think your view on that, anonymous, is pretty close to the real idea.
Allthough im not willing to believe it's all about ripping off customers.
Surely i cant be sure on that, but as i am not intrested in using their services in not gonna try to find about it either.

 

[Anonymous]

Amateurish brokers and their professional-looking platforms.

Some years ago there was a binary options broker offering products including forex, 7 days a week, including trading over the weekends.

When the underlying is far out-the-money the option is cheap, when it is in-the-money it is expensive.

Initially the company offered trading even over the weekends. It has to subscribe to a price feed service, that particular price feed service shows the forex surging up over the weekend then come back down by Monday.

If too many acute-eyes who realized it were to act fast enough and bought the cheap options over the weekend the broker might have gone bankrupt.

The following week the company stopped weekend trading.

 

[trader786]

ncie scalps

Here is an example of one person who used scalping. Please check the attachment below, I have not verified the results, and so I am just putting them as were presented to me, Its your judgement. (This was done in less than 24 hours)

ZDforex

Who made these trades, I noticed they are all eur/gbp pair.

Nice scalps.

Please let me know more info about this statement.

 

[Trader/God]

I'm not personally familiar with Marketiva but from what you posted they sound like a joke.

Most retail platforms will allow some form of "scalping" but if your trading depending on very rapid short terms trading you should use a pro level with no requotes, and you won't be able to blame your market maker anymore and you won't have any of the handholding they provide either.

Trader/God

 

[Trader/God]

limiting a traders strategy is a big warning sign.

this proves fx is no more than a bucket shop, and scalping is likely to lose them money (make you money), so they dont allow it.

this is why trading the futures markets is so much better - do what you like, and cheaper.

Why would anyone still be trading futures is beyond me. Spot FX is where the action is and where the pros are moving toward. Dealing with exchanges is a nightmare and no way on its cheaper.

Trader/God

 

[charliechan]

errr i think youl find the opposite to be true as their is less counter party risk with futures. also the futures market is a fairer market, because you are trading a transparent market which you are not doing in what you call'spot fx', you are trading against 1 other party at all times - so he knows your hand. pros know this, noobs dont.

also, please dont kid your self you are trading the spotfx market. i can guarantee you are not - as i stated, you are only trading against a house.

i know they like you to think you are trading the interbank market, but you are not.

hope that helps.

 

[Trader/God]

errr i think youl find the opposite to be true as their is less counter party risk with futures. also the futures market is a fairer market, because you are trading a transparent market which you are not doing in what you call'spot fx', you are trading against 1 other party at all times - so he knows your hand. pros know this, noobs dont.

also, please dont kid your self you are trading the spotfx market. i can guarantee you are not - as i stated, you are only trading against a house.

i know they like you to think you are trading the interbank market, but you are not.

hope that helps.

In the entire world there are less than 3,000 interbank terminals, I can assure you I'm not trading directly on the interbank without your help.

Its a 1.9 Trillion dollar market daily, I'm not sure what you think would make it more transparant, I only see opportunities for profit if prices are "off" I'm not blaming the house for my poor trades.

Well you might be on a platfrom where you trade with one counterparty or you might not be, most people are, I am not. Either way its beats getting romped on by the locals on the exchange who know your stops and limits and exactly what you are holding. Like it or not grandpa those exchanges and one to one trading are not the future.

Trader/God

 

[phildunn]

Though most people unfamiliar with Marketiva,after I use it for some time, I like this platform right now - no minimum deposit,stable connection,fast execution without slippage.

 

[charliechan]

In the entire world there are less than 3,000 interbank terminals, I can assure you I'm not trading directly on the interbank without your help.

Its a 1.9 Trillion dollar market daily, I'm not sure what you think would make it more transparant, I only see opportunities for profit if prices are "off" I'm not blaming the house for my poor trades.

Well you might be on a platfrom where you trade with one counterparty or you might not be, most people are, I am not. Either way its beats getting romped on by the locals on the exchange who know your stops and limits and exactly what you are holding. Like it or not grandpa those exchanges and one to one trading are not the future.

Trader/God

ok slick, answer me this.....

1/ what does market transparency mean to you?

2/ what platform are you trading on and where are your trading funds kept (just asking for names, not amounts - if you feel uneasy about answering this, then perhaps you could tell me if who ever holds your funds also provides their own platform, unique to themselves) ?

3/ what makes you think that stop running doesnt happen in all markets?

4/ who is talking about trading face to face in a trading pit?

5/ is the fx market first in first out, or last in first out in terms of the way open positions are handled.

my money is on you not replying to this.

 

[Trader/God]

ok slick, answer me this.....

1/ what does market transparency mean to you?

2/ what platform are you trading on and where are your trading funds kept (just asking for names, not amounts - if you feel uneasy about answering this, then perhaps you could tell me if who ever holds your funds also provides their own platform, unique to themselves) ?

3/ what makes you think that stop running doesnt happen in all markets?

4/ who is talking about trading face to face in a trading pit?

5/ is the fx market first in first out, or last in first out in terms of the way open positions are handled.

my money is on you not replying to this.

Trying to set up a straw man for yourself? I can open an account with several market markets in spot FX and trade against them if I want. So if I see one platform with a price thats off, I can trade against it, can you do that?

In FX all that matters is net positions, different back offices handle it differently (I believe FIFO) is standard but the math is the same in either case.

Not that spot doesn't have issues of its own, the spot market is still the wild west as far as regulation but if a trader sticks to the right firms they will be alright, and don't have to worry (as much) about stop running and the games the some disreputable firms play. Its a 24 hour market, why be limited by the exchange? Most firms are at 2-3 pips per round trip on Eur and you can earn the rolls, costs may be slightly higher but they are trending down esp in GBP/CAD pairs.

Trader/God

 

[dcraig1]

The implication in the previous post is that forex futures do not trade 24 hours a day. If you look at the CME website you will find that they effectively do on weekdays and open at 6PM US EST on Sundays. Why anybody would want to trade outside these hours really does escape me. I know where the straw men are coming from here.

And incidently the spread for EUR on Globex is 1 pip more often than not.

 

[nd1377]

The SCALP Sheet

Who made these trades, I noticed they are all eur/gbp pair.

Nice scalps.

Please let me know more info about this statement.

Hello,
I was looking over the scalp sheet. It seems as if this person is putting on trades and the market is moving ~1 to 2 pips + spread per minute. This person is pretty good. If they can do this everyday, they are the richest person in the world. This person should have more money to burn. I think this sheet is garbage. If I am wrong, would the master scalper please come forward and prove me wrong?
Thank you very much