Hello, I've been researching brokers for a while now. I see that for scalping it's best to go with an ECN broker, but there are also a few market makers that seem to also be ok like Oanda. Oanda, and Interbank fx is where my research has brought me. Please recommend the best brokers for scalp trading strategies (I usually open and close trades less than a minute) Thanks
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Scalping
- Thread starter bburt252
- Start date
Quote from bburt252:
Hello, I've been researching brokers for a while now. I see that for scalping it's best to go with an ECN broker, but there are also a few market makers that seem to also be ok like Oanda. Oanda, and Interbank fx is where my research has brought me. Please recommend the best brokers for scalp trading strategies (I usually open and close trades less than a minute) Thanks
Oanda are great when their platform stays connected, there were a lot of problems a few weeks back but it seems ok now.
InterbankFX I don't like, their spreads are too wide, they delay quotes, and their opening and closing times are weird, plus scalping on MT4 is crap, too many clicks.
I'd say stick with Oanda, most times their spreads are unbeatable, and they fill everything no problem. They pay interest on balances and their platform is open at the weekend.
ECN's I don't like anyway, the 'real' market sucks, give me a bucketshop over an ECN any day!
Thanks for replies! I am with Oanda currently..and I like them. A few weird spikes, and 1 time connectivity issue..other than that they have been good. Now I'm looking for a good second broker. Any news on Alpari (UK based)? They current capital is over 13mil..so they meet current NFA cap requirements..Also any news on when this current 10 mil cap will go up? I am in the U.S. so I want to make sure my broker will be able to do business with me in the future! Thanks
Quote from bugscoe:
I agree with Cable - Oanda works just fine.
I make approx 100 transactions a day with them with no issues.
And you just can't beat the way they handle lot sizes. It leaves the door wide open from a MM standpoint.
what do you mean "way they handle lot sizes"?
also, what are spreads like for EUR/JPY for instance?
Quote from killthesunshine:
what do you mean "way they handle lot sizes"?
also, what are spreads like for EUR/JPY for instance?
At Oanda, you can choose your own lot size, from 1 unit to 10M units (100 lot).
Oanda's spreads for the last week are displayed on the page below, updated dayly. The spreads at Oanda have been a lot higher recently due to market conditions. The second link gives the Oanda spread like it was before (and maybe again when the market calms down).
http://fxtrade.oanda.com/forex_trading/why_trade_with_oanda/spreads/recent_oanda_spreads.shtml
http://fxtrade.oanda.com/forex_trading/why_trade_with_oanda/spreads/compare_broker_spreads.shtml