Triantus Shango
Sergeant Major
- Messages
- 1,371
more excellent advice from the site daytradingforexlive.com:
What Is Forex Scalping & Should You Be Using This Trading Strategy?
now, for those who insist on scalping, obviously then the 1st order of business is to find a broker that provides institutional/interbank spreads. it's a short list and most of your retail brokers are not on it. the ones on the list available to retail traders i can recommend are:
LMAX Exchange (outstanding execution speed, quality, and spreads--beats the pants off anyone else i've ever tried and when using FIX is on the same level of excellence as Integral via RJObrien (UK); i would argue even better because their order management platform if way more user friendly than Integral FX Inside; also multiple client platforms now available as well: Multichart, Sierra Chart, PFSoft's ProTrader, MT4 (unfortunately ;-) ), and any other charting app/order management platform that can be hooked up to their servers via the FIX protocol).
RJOBrien (UK)/Integral FX (institutional spreads and speed as well) BUT not their MT4 offering since it has to use a bridge, which slowsdown everything, not to mention that MT4's design already slows down things.
Interdin (Spain) also uses Integral FX but i would not recommend them because (1) they customer service is abysmal--took them 2 weeks to answer basic due diligence questions via email, and (2) their order management platform is a web app running on Microsoft ASP technology, which is the wrong tech choice to begin with, and to add insult to injury, the order management platform logs you out automatically after a preset time interval of inactivity even though you might have open orders that you need to manage. couldn't find an option anywhere to disable this behavior. and that's the only way you can manage your orders. phone line is spanish only. imagine being caught in a market meltdown and the platforms kicks you out right when you have to intervene because the price gapped over your stop loss. WTF?!
finally, there are others but i do not list them because the main criteria i applied here is a funding capital requirement of no more than 50K/USD. the other brokers require at least 100K/USD or more.
note that i cannot list any US based FX brokers that would meet these criteria of excellence. i think that says it all of the sad state of affairs currently ongoing in the OTC FX retail space in america.
What Is Forex Scalping & Should You Be Using This Trading Strategy?
now, for those who insist on scalping, obviously then the 1st order of business is to find a broker that provides institutional/interbank spreads. it's a short list and most of your retail brokers are not on it. the ones on the list available to retail traders i can recommend are:
LMAX Exchange (outstanding execution speed, quality, and spreads--beats the pants off anyone else i've ever tried and when using FIX is on the same level of excellence as Integral via RJObrien (UK); i would argue even better because their order management platform if way more user friendly than Integral FX Inside; also multiple client platforms now available as well: Multichart, Sierra Chart, PFSoft's ProTrader, MT4 (unfortunately ;-) ), and any other charting app/order management platform that can be hooked up to their servers via the FIX protocol).
RJOBrien (UK)/Integral FX (institutional spreads and speed as well) BUT not their MT4 offering since it has to use a bridge, which slowsdown everything, not to mention that MT4's design already slows down things.
Interdin (Spain) also uses Integral FX but i would not recommend them because (1) they customer service is abysmal--took them 2 weeks to answer basic due diligence questions via email, and (2) their order management platform is a web app running on Microsoft ASP technology, which is the wrong tech choice to begin with, and to add insult to injury, the order management platform logs you out automatically after a preset time interval of inactivity even though you might have open orders that you need to manage. couldn't find an option anywhere to disable this behavior. and that's the only way you can manage your orders. phone line is spanish only. imagine being caught in a market meltdown and the platforms kicks you out right when you have to intervene because the price gapped over your stop loss. WTF?!
finally, there are others but i do not list them because the main criteria i applied here is a funding capital requirement of no more than 50K/USD. the other brokers require at least 100K/USD or more.
note that i cannot list any US based FX brokers that would meet these criteria of excellence. i think that says it all of the sad state of affairs currently ongoing in the OTC FX retail space in america.
