Forex Brokers that Allow Scalping: Research and Results
Submitted by Edward Revy on June 5, 2007 - 13:56.
The topic of Forex Brokers allowing scalping is very hot.
I was looking for answers in various forums, tried searching with keywords in search engines, tried reading policies and FAQs on the websites of different Forex brokers...
It seemed like I had only guesses, but nothing solid to rely on.
And then I came up with a simple solution - sending customer support inquiries to the different Forex brokers...
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Thanks Thomas,
Can i ask you which of the platform mention above is best trading on ?
Daniel
Daniel,
Unfortunately, I cannot make a statement since I haven't tested even 30% of the platforms...
I'm very sorry. May be our users could add suggestions on the subject.
Thanks
Thomas Andreas
Yes, everyone is very welcome to post their comments on brokers' platforms. Please also explain in few simple words why you give the preference to a certain trading platform. Comments on scalping experience are also in great demand.
Edward.
i've found that almost all customer service people say yes, they allow scalping. but they are not the dealing desk. the customer service and sales people usually say "yes" to everything, since forex is an unregulated market and there is hot competition for accounts.
the problem brokers have is positions held open for less than a minute - because they cannot properly hedge themselves; not enough time supposedly. they particularly will not allow automated systems to scalp due to the high volumes involved.
what you will find is that if a broker does allow scalping in a fast market, they will requote you. i've found that, in a news trade, one can often profit by immediately accepting whatever the broker requotes. if you wait to look at the requote, you've lost the trade. you just have to push the button as fast as possible and hope for the best.
thank -you for your efforts!!(learning to think smart!)
Most brokers seems to allow scalping in under 1 minutes. But some of them might not allow pips closing less than 5 pips.
It's the first time I hear about such 5 pips rule...
Could you please name any broker who would have such policies?
GFT gives you slippage all the time. It is almost like a "bait and switch". You get their quote but they don't honor it when you take it.
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