Forex Brokers that Allow Scalping: Research and Results
Submitted by User 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...
My question to all of them was the same:
“Do you allow scalping? By scalping I mean holding a position for less than 1 minute.”
That’s it.
Today, I’d like to share with you what my research has revealed.
So, brokers allowing or not allowing scalping...
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Anybody worked with ForexGen? In their account agreement they say:
"ForexGen Preserves the right to ban any Customer from its trading platform, suspend any accounts temporarily or permanent at any circumstances where the account was suspected to perform one or more of the following forbidden activities: Illegal pip hunting and Illegal scalping".
But i wonder, is there a Legal scalping also?
Got a response at ForexGen live chat:
"...Scalping means opening too many positions at the same time and closing them in Avery short time.
Less than 5 min. you will be considered as a scalper
Pip hunting means to open position and close it in a very short time (once they make 1 pip profit that is called illegal pip hunting)."
...Scalping is allowed in the NDD (No dealing Desk account)
Also as a special limited time promotion you can scalp in the Premium account with zero pip spread."
Never worked with this broker.
Thomas
Forex-metal allows scalping.
The new M I G Investments General Terms and Conditions are effective immediately (13.08.2008) and have been updated with reference to M I G's current position on Scalpers: Due to the difficulties associated with covering such trades, M I G Investments does not accept scalpers
can someone list all the brokers that allow scalping and have a fixed spreads.
Does Alpari UK allows scalping?
Here is the answer from Alpari UK.
"We do not have any restrictions on scalping.
There are absolutely no restrictions or limitations regarding how long you hold a trade for. You are welcome to hold your position as long as you like. This is, and has always been, the policy at Alpari UK."
Regards,
Thomas
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