Brokers for scalping | Forex brokers that allow scalping

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Brokers for scalping | Forex brokers that allow scalping

167 comments

What is scalping?

Scalping - (also known as "snipping", "churning") - is a fast-paced trading style where a trader seeks very small profits (usually 2-5 pips) by repeatedly opening & closing trades, which usually last less than a minute.

Forex brokers that allow scalping with no known restrictions

1lotstp

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167 comments

Broker discussion area


trader February 5, 2009

use tadawulfx.com for scalping


trader February 12, 2009

Has anyone used E-global Trade and Finance and Swissfx Brokers before?

I'm contemplating joining one or the other, but keep getting many mixed reviews on whether are legit or not, and seems no one has live proof of their accounts either.


trader February 12, 2009

Capital Fx do not all scalping and will close your account


BrokerGuru February 12, 2009

Did you mean Capital Forex?


trader February 15, 2009

InvestTechFx.com actually has a scalping account that you can fund with a minimum $1000 and a fixed 1 pip spread on the majors, but a minimum $10 fee per lot traded.


trader February 19, 2009

AVS CARTER allows scalping and is said to have a good reputation


Scott February 27, 2009

Scalping Account - Available for day trader with high level of activities and above monthly customers average trading. Minimum Fee of $10 per Lot applies

That was stated in Investtech
I am new to forex so is that a hefty charge or that is not so bad with small accounts of 3000 or less with EA scalping? Thanks.

Scott


BrokerGuru February 27, 2009

Hi Scott,

Depends what the broker means by lot.
If it is per 1 standard lot (100k), then it'll be similar to:
- paying 1 extra pip ($10) for trading 1 lot of 100k (100 000 units)
- or paying $1 each time you trade 10k (0.1 lot)
- or paying extra 10 cents each time you trade 1k (0.01 lot)

With an account of 3000 US dollars or less, you'll be probably trading from 1k to max 10k-30k, so you can calculate your expenses based on that. Active scalpers take lots of trades during the day, how many trades are you going to take? Based on your scalping appetite and activity, I think you can figure out if paying the fee for the right to scalp openly and aggressively would be beneficial for you.

Overall, paying a fee for scalping in Forex is rather uncommon practice. On the other hand, it is not uncommon to hear from traders about difficulties with regular brokers when traders start to scalp non-stop... All brokers have their own policies, what can you say...


trader April 3, 2009

Finexo and forexwebtrader also dont allow scalping


BrokerGuru April 3, 2009

Thank you!
Added them to non-scalping brokers today.

Update: they already do.


trader April 22, 2009

I´m using FXCM for a month already, and I can´t complain about them, from 100 scalping transactions made last month I only had problem with 1. they allow you to use EA´s and their customer service is A++, they also have live chat with technicians that will guide to to resolve your problem.