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Forex Brokers that allow Scalping




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 broker scalping policies - what to expect?



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Broker discussion area

BrokerGuru

October 4, 2009

You're absolutely right in your speculations. A broker should be happy to see a trader trade more frequently, because it would mean more fees charged = more profits to a broker. But things aren't that pretty in reality.

Unless you trade with an ECN broker, you can forget about serious and long lasting scalping with any other brokers. Why?

ECN brokers are the only type of brokers who don't care whether you lose or make money trading Forex. They don't make money on spreads, they make money solely on commissions. So, we can confidently say, that an ECN would rather see you winning all the time, so that you can continue trading and paying commission to them. And, of course, the more trades you take, the more commission you pay = the happier is the ECN broker.

On the other side of the island are market makers - dealing desk brokers. These brokers will lose when you win and win when you lose. Why scalping with a market maker doesn't work? If you lose by scalping Forex, no consequences for you, except for losing own money; but if you are a successful scalper, you are not welcome there, because when you win, a market maker loses, because they trade against you (good scalping is a profitable business, and market makers know it). If you are caught scalping with a market maker, you'll most likely not be able to receive money won by scalping, and your account will either be put on a delayed execution scheme or will be reviewed to quote higher spreads or simply closed (in this case you should receive back your initial deposit, unless you lost a portion of it while trading).

I would be also cautious scalping with an STP broker, since many of them use liquidity partners - banks, who are market makers, there is a possibility that your trading style may not be welcome there as well. Although it depends, and conditions vary from broker to broker.


trader

October 4, 2009

Hi, I am interested in opening a forex account, but I don't understand why someone would charge a scalping fee since they already make a fee on the spread?

It would seem that the more trading that one would do the more fees a company would make so why would these companies try and limit people from this type of trading, instead of encouraging it, seeing these companies would be making more fees by more transactions?

If more transactions mean more fees: then why not offer a discount to people who trade more?

There appears to be something fishy in these companies way of doing business: can someone please explain this so that I can somehow understand this apparent back-wards reasoning?

The obvious explanation seems to be that these companies are playing against traders and expect you to lose your money to them on over-margining yourself against the swings.


BrokerGuru

September 30, 2009

Thank you, guys!

I've listed them both in non-scalping brokers column, since wide spreads as well as 5 min limits make any good scalping impossible.


trader

September 30, 2009

http://loyalforex.com/

for scalping they want you to stay in a trade for 5 minutes;


Erich

September 30, 2009

ad FIGfx: they widen the spread if you are a scalper. you have to tell them at the beginning, but what scalping is for this company it is not clear; Erich, Vienna, Austria


BrokerGuru

September 17, 2009

FIGfx has been added successfully. Thank you.


trader

September 17, 2009

Please add http://www.figfx.com/


Andy

September 17, 2009

NordFX - your normal broker by todays standards ;) : office in Netherlands, got license in Mauritius - must be a place for getting an easy hassle and trouble free license to start a full scale brokerage dealing.
They work with FXCM and MF Global - large companies and thus "borrow" a part of their reputation.
If this broker offers what you need - try it, but as suggested earlier on this website, keep you risks low until you know they can be trusted.

Andy


trader

September 14, 2009

Can someone please say something about NordFx, trying to sign up a demo account with them besides they are regulated by a Mauritius body, is there a problem with this?


trader

September 8, 2009

United world Capital allows it :)


BrokerGuru

August 27, 2009

No, but they claim to allow scalping. Besides, all ECN brokers easily allow scalping. I would be surprised if PronetFX has something against scalpers.


trader

August 26, 2009

Does anyone have experience with ProNetFx and scalping?


BrokerGuru

August 9, 2009

Latest from FXOpen: you can scalp but most of your positions should open for at least for a minute.


trader

August 9, 2009

FxOpen support desk said to me , Fx open does allow scalping.
To ensure u can talk them.


trader

July 26, 2009

trader

Try nordfx.com
They allows scalping for all type of accounts.


trader

July 15, 2009

Wiseking Is it not therefore a serious intergrity deficiency 4 a broker to differ in action to his word and written promotions? I think also d regulatory bodies have looked away from their job. I should brand dem as co-aflictor of traders with their broker counterparts. I will not speak well of Marketiva if i have to. U know what Broker Guru? These group of ignoble Brokers have defiled d forex market and trading dat we were taught to be clean and transparent. THANKS.


BrokerGuru

July 14, 2009

I have no experience with this broker. I'm working on adding a new forum where questions like your could be answered. Just give me another month and sorry for the temporary inconvenience.


trader

July 13, 2009

i heard that sigma forex accept scalpers but i dont know what their reputation is like.
please if there is any body who has an experience with them your opinion will be highly appreciated


trader

June 30, 2009

Forex metal doesnt you let scalp in asian session. So you cannot use fapturbo etc. I have some other asian scalper. Sometimes i try to close trades (as for some reason the scalper cant) but i am unavailable to do so even if position is 6-8 pips in profit. A message comes up telling you: Order to close to market.


trader

June 30, 2009

globalforexnow.com is PFG BEST IB


BrokerGuru

June 26, 2009

I appreciate your feedback about Forex Metal. It is even more important than the listing of brokers itself! Despite that, since Forex-Metal claims to allow scalping, they'll stay on the list and continue to receive rating and feedback from traders. Please do continue to rate broker services!

I don't know why you can't find Sigma Forex (try using Google search), I had no problems finding their website today: sigmaforex.com
At "about us" page you can find the contacts as well as learn other info about this broker.


trader

June 26, 2009

Does sigma forex exist. If what is their address. Their Head office. Have any body traded with them. If so how is their services.


trader

June 15, 2009

you can remove "forex metal" from this list. with so many requotes its very bad for scalping.


BrokerGuru

May 31, 2009

That website doesn't allow to see a broker name, it is protected, same as a user account number.


trader

May 30, 2009

Some know what's this broker this statement? http://ikewang.mt4stats.com/


BrokerGuru

May 29, 2009

Hmm... indeed.
But then they say, scalping is allowed in http://www.tadawulfx.com/v2/services/forex-trading-conditions-and-advantages.html
What exactly do they mean? Do they analyse clients trading on request? or it is a protective measure against scalping? I'm going to ask them.

Update: got a reply from Tadawul rep:
"Our Market Analysis refers only on the long term trading strategy as we recommend to our customers to follow.
On the other hand, we cannot provide an analysis on Scalping trading.
As you can understand we do not restrict scalping trading since we cannot provide predictions on it."

Judge for yourself...


trader

May 29, 2009

Tadawul FX:
"We strongly believe that successful trading needs a systematic risk / reward approach and that trade entry and exit points should be studied carefully. This approach does not fit with the short term view of scalping markets for a tiny profit with a quick succession of trades. For this reason, TADAWUL FX services include an analysis of your trading style, helping you to trade smarter in order to develop a sensible long term investment strategy."


trader

May 8, 2009

Forex.com - Gain Capital Group,
Reqoutes on every trade(3~4PIP) after reaching 10% profit on your account,
so No scalping..


BrokerGuru

May 7, 2009

That's true. MBCFX has changed a clearing house and is now able to accept any style of trading including scalping.
Thank you for the update!


trader

May 6, 2009

Dear Trader,

scalping is allowed

Thank you for submitting your request regarding MBCFX accounts. As you may know, that MBCFX has No Dealing Desk; all your transactions/trades are cleared directly on the market without any MBCFX intervention.


trader

May 6, 2009

Better we all grow up buddys . . . . . .

A scalper can never be an investor even wid 100k in a/c.
Trading world is all about thinking big with a good grey matter
and a heart of steel...........If u love forex then then marry it
as u would and It'll love you for life,dont f*** it like a S**t.
may you be the greatest trader of all time.
amen!


trader

April 26, 2009

Iam a new trader...
Both scalping and autopilot one and the same.


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.


BrokerGuru

April 3, 2009

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

Update: they already do.


trader

April 3, 2009

Finexo and forexwebtrader also dont allow scalping


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...


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


trader

February 19, 2009

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


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.


BrokerGuru

February 12, 2009

Did you mean Capital Forex?


trader

February 12, 2009

Capital Fx do not all scalping and will close your account


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 5, 2009

use tadawulfx.com for scalping


trader

January 27, 2009

EMPFX has no problem with scalping now
spoke with them recently.
demo is slow so do not expect to scape as easy in live

+++

EMPFX
this is an updated comment;

turns out that EMPFX does not like traders that only scalp!
they send a notice first, then widen the spreads
they would not provide information about what they consider scalping

this contrary to what the said to me on the phone


trader

January 16, 2009

ODL does not allow scalping and will not hesitate close your account


trader

January 8, 2009

There are forex brokers who use dealing desk software. This would allow them to automatically counter scalping trades.


BrokerGuru

January 7, 2009

Thank you for the useful input!
GFT is moved to the Controlled Scalping group.


trader

January 6, 2009

GFT - Global Forex Trading
will arbitrarily put you on dealer execution with no warning


trader

December 29, 2008

What about ForexGen NDD acount - here they allow scalping - but they reputation is not good - maybe someone was tried tade with them on this account?


trader

December 27, 2008

ALPARI don't like scalping and hedge ea:s they simply slow you execution time so you cant do it.



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