Best broker for scalpers? - Page 2
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Thread: Best broker for scalpers?

  1. #11
    Scalping on a fixed-spread or dealing desk broker is suicide, go ECN only. 1 pip or even less. IB, MBT/EFX, some other broker with Currenex, HotspotFX, respectively

    Here are the spreads at a random interval on HotSpotFXi, detect nearly all spreads are 0.5 pip or less (except NZDJPY, at 1 pip). HSFXi is institutional though, minimum $100k opening equilibrium. Finest bet for retail scalping is IB (IdealPro) or even MBT/EFX.

  2. #12
    Trader_KGB: This looks rather remarkable, if your image is a representation for normal markets around HotspotFXi. Do you trade on this platform? As far as I am aware, there are not any stop-orders encouraged on FXi (just bids and offers), how do you deal with that?

    How can the retail plaform compare to the institurional, in terms of spreads and liquidity?

  3. #13
    Shrike - I really don't yet trade on FXi as I'm more of a place trader (commerce with IB currently).

    I'm not certain what time of day it was when I took this screenshot of their demo, but the demo is free, which means you can download it if you'd like to look at their feed. The spreads rarely widened at any time from my experience (I was comparing it to IB/IdealPro, which can be 0.5 pip spread on the majors during busy hours).

    You can download both demos (HotspotFXr retail and HotspotFXi). The retail side appears to be fixed spread, 1-3pip, without a market depth (FXi is 5 or 2 levels deep). So IB wins on the retail side. Have not tried EFX yet but will probably be starting a demo there also.

  4. #14
    Maybe today screen shot is going to do then ? With another broker

    150% profit... made 5k to 15k....demo that is

  5. #15
    Trader KGB: I dont believe the demo quotes are representative of the live system tbh. I saw it for some time today, and I can frequently see the entire bid or ask dimensions evaporate. They also appear to demone way less dimensions than EFX on the best bid/offer (maybe because its potential to conceal parts of the bids/offers with this platform).

  6. #16
    Quote Originally Posted by ;
    : I dont think the demonion quotes are representative of their live system tbh.
    That may very well be the case, in which case, it is up to all of us to perform our own DD before finding the ideal solution.

    My proposal was for anyone seriously contemplating scalping to consider the ECN brokers, as they would be best served with spreads of 1 pip or lower. There's a preponderance of misinformation from the FX retail landscape, and dealing desk brokers prey on this particular ignorance to get profit (proven by the banner ads on this very page showing a 3 pip spread on eur/usd...). Nobody should seriously consider scalping with any dealing desk/MT4 broker.

  7. #17
    Quote Originally Posted by ;
    , Does HotSpotFXi wide their spreads news time? Thanks.
    I haven't tracked it at these times. I'd download the demo and monitor.

  8. #18
    I scalp the majority of the time, someplace between 2-20 pips depending on market motion of course.

    I use Oanda and they are simply fine. In addition, I have an account with EFX but trading using Oanda is more affordable - don't overlook on those 1 pip spreads at EFX you also should bring the commission on the top, which ends up being more expensive than Oanda.

    My executions at Oanda are just as fantastic as they are with EFX. Also, Oanda pays me interest on my capital. Significant bonus as far as I'm concerned.

  9. #19
    Bugscope: I came to the exact same conclusion. Only company cheaper than oanda is IB - in the retail world atleast. IB is bad about the interest/swaps tho. And their customer support is similar to a black hole, which gave me quite a uncomfortable feeling about them.

  10. #20
    Quote Originally Posted by ;
    IB is bad on the interest/swaps tho.
    Since when do scalpers care about interest/swaps? Fwiw, Oanda has the best swaps, I'll give them.

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