I tried their Demo once and it was so bad that I sacked in one week .... while they tried to call me over and over again .... and I refused to talk to them as ... the Demo spiked like crazy compared to what I was used to. I was certain that I would never want to open an acct., with them because of it. I think ODL would be much better in every way. I think many brokers are so ready to pop accounts .... that if u could read their minds u would run like h=des from most of them ... ALL_IMO

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oh but I am the most Nieve fxtrader to ever walk the earth. I trust them all ........ and bucket shops do not even exist ......and the NFA is everywhere to protect our interests. And they would never allow monkey Business, from a Broker, to stand! .........LOL ....NIMO .... IMO

Hi Bolla,

start time and end time are GMT+1 (like Alpari) right?

Thank you,

bbop

Ok let me start off with saying that I do have very little experience ... I fully research something I intend to do before vesting into it...

I have a few questions that I feel I need answered, mostly derived from this thread and these forums

A broker will not allow "scalping" being as I have read it 'making multiple small trades' or as I feel I should read it 'making thousands of $1 trades daily'
Do I have this in any kind of proper context?

If using an EA to make your trades a broker could simply cut off use of said EA in order to secure their money as the user is less important to them... although by these means there is nothing that they could do if that person was trading manually

MT4 is a bad platform? Although there are a lot of useful options and seemingly beneficial capabilities, in the end it is up to the broker and by such they can change what kind of outcomes you can have?

Are there other platforms that can be used that you might say were more secure or less likely to cut into your profits? By this would they still allow you to make those trades that the other brokers using MT4 have placed their foot in front of?

Where does the broker make his money from? I was under the impression that the broker had made their money from interest as well as following the trades that the users had set forth...

There will be more things I am sure but for right now that’s all I have come up with


-- Steve

Ok let me start off with saying that I do have very little experience ... I fully research something I intend to do before vesting into it...

Great!

I have a few questions that I feel I need answered, mostly derived from this thread and these forums

I will try and write what I know

A broker will not allow "scalping" being as I have read it 'making multiple small trades' or as I feel I should read it 'making thousands of $1 trades daily'
Do I have this in any kind of proper context?

IBFX has a specific policy of a trade duration of 90 seconds. now it is not real strict but if you had an EA rapid firing trades that lasted under 90 seconds your account could be flagged from some sort of security software that IBFX may have in place and you may get a phone call asking you to stop clogging their server and making it hard for them to pass off your trade to a liquidity providor

If using an EA to make your trades a broker could simply cut off use of said EA in order to secure their money as the user is less important to them... although by these means there is nothing that they could do if that person was trading manually

A dealer has the right to do business with who they please and can cut off your service at THEIR discretion. Trading is not a privledge or a right. The dealer/marketmaker is in business to make money and if you are a client that he cannot make money from, well he could weed out the dead wood so to speak...You relationship is that of commercial commerce

MT4 is a bad platform? Although there are a lot of useful options and seemingly beneficial capabilities, in the end it is up to the broker and by such they can change what kind of outcomes you can have?

Yes in a nutshell, but it seems to be sound and technically capable. It's the Russian Company behind it that seems to facilitate Larceny for dealers to commit.

Are there other platforms that can be used that you might say were more secure or less likely to cut into your profits? By this would they still allow you to make those trades that the other brokers using MT4 have placed their foot in front of?

Yes, but the pool of freelance coders may be limited and they may be more expensive.

Where does the broker make his money from? I was under the impression that the broker had made their money from interest as well as following the trades that the users had set forth...

Well in a perfect world the dealer could make his money from spread and interest.

There will be more things I am sure but for right now that’s all I have come up with

I will try and understand your discoveries and share what I know.

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Not the best.... still develop

Hello all!
I was looking after scalping definition, discription and I have found this;
Forex scalping is a trading strategy in which the trader makes dozens or even hundreds of trades daily, looking to capture a few pips per trade. Generally, scalpers stay in trades for less than a minute, bolting as soon as their position captures a few pips. Brokers do not look kindly upon scalpers, as many times scalpers will exit a position before the dealing desk has time to deal your order. This means that the brokerage has to eat the position—a successful scalper will consistently earn money—money that comes directly from the brokerage’s pocket.

I dont understand whats wrong for brokers with those "dozens" of trades per day because brokers have spread x dozens trades = their profit Is that right?
By the way is it good to start with scalping if i have only 100 $ deposit ?
I think longterm trades would kill my deposit because of tight s/l Am I right ?

Hi. The type of scalping outlined in your quoted definition simply is not possible with Metatrader brokers - they either do not allow it or will close your account if you prove profitable. 'Limited' scalping is ellegedly offered by a few (alpari being one) which introduces at least a time restriction so that Brokers are not left 'holding the bag' when you have already closed your order and are looking to open another - as per your scalping definition.

The real problem with MT brokers is that the majority of them take the other side of your trade, so if you win, they lose - and MT Brokers do not like to lose. If they were out to 'play fair' they wouldn't have purchased Metatrader for $100,000 and continue to pay Metaquotes revenue on a per-trade basis - a platform that is designed to literally trade against the trader if the broker so wants!

So yes, the brokers collect commission via the spread, but as the saying goes "much wants more..." If you really are serious about scalping, ECN's are the only viable option...

Forget scalping on MT4 brokers, that is a losing proposition. They already got you by the balls with the spread, so it is already playing against the house. So you might as well go to the casinos if you want to scalp, your odds are probably better on blackjack.

For instance, if you scalping for 4 pips, it would require you to make up the spread like 3 pips, so you have to make 75% of your target profit just to pay the spread before you are even making money. And if you have 4 pip stop, then you basically take a 7 pip loss. Add to the requote, and you are pretty much set up for failure.

I think we all are led by our noses. If you read the Client Agreement Relating to Foreign Exchange IBFX and DBFX you will see the following:
3. PRICES AND OPEN POSITIONS
You acknowledge that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of ours and may be withdrawn or changed without notice. --- What this means to me is that every customer can have a price and maximum. Your hand is on the table, they know your take profit and stop loss because it is in their platform and you haven't got a case because you accepted their client agreement and they may spike and do as they like. I'm a java programmer and I can tell you it is easy to write a program that scan the platform and to create spikes in the feed to you to their benefit.

3.2 Our service is restricted to executing transactions at the quoted prices at your request. When executing transactions we will not be executing orders on your behalf and accordingly we will not be subject to the obligation under the rules of the FSA (the "FSA Rules") to take all reasonable steps to obtain the best possible result for you.

hai.. result like me.. what name your ea..