Help on following shops

[jm73]

F-X-S-O-L, O-a-n-d-a,CMC,FXCM Which one i should go with?

I thought FXCM was the best but those uncertain policy against scalping(unknown either) bothers me.

Anyone who had experience with those brokers and have any recommendation?

Thanks

[dguy]

A few years ago we scalped O-a-n-d-a for about 2 months before they stopped us but we took over $100k in profits before they did. We did this at many different brokers but all stopped us right away except O-a-n-d-a. We noticed that shortly after O-a-n-d-a shut us down, their datafeed go much quicker. We cost them a lot of money.

Now we use Prosignal's automated trading system, which does very well so we don't need to scalp any more. It's made over 2600 pips net profit in real time since Aug 1st.

[sue vesta]

Originally Posted by jm73

F-X-S-O-L, O-a-n-d-a,CMC,FXCM Which one i should go with?

I thought FXCM was the best but those uncertain policy against scalping(unknown either) bothers me.

Anyone who had experience with those brokers and have any recommendation?

Thanks

I think if you're going to scalp you're better off with an ECN like Hotspot, Coesfx or Interactive Brokers. I've just opened a live account at O A N D A ( I researched for months after Refco went belly-up and like many here have money frozen with them ) because I liked what I read of their reputation - but I don't tend to scalp. Security of funds is more important to me.

Good luck to you.

[jm73]

Thanks for the info guys.

I am not a scalper. I am intra-day trader.

The reason why I don't like FXCM is their definition of scalping is not clear.

and I have impression that they tracks down whoever is making consistent money without long term position.

Maybe I am wrong but that's my impression since theit definition of scalping is not clear.

I don't have any real experience with them so I don't have harsh feeling about them at all.

I just can't go with the shop with unclear policy against client.

[jktr7973]

Can anyone explain the difference between an ECN and a regular broker to me? Is there a catch to the tight spreads because I don't see why more people aren't trading with the ECNs?

[ajhardesty]

Originally Posted by jm73

...The reason why I don't like FXCM is their definition of scalping is not clear.

From what I have seen, no one defines it in explicit terms. As soon as they did that, traders would be able to find a formula to beat the system. Basically, it seems to be a visibility issue. If you are trading in amounts, times, patterns, etc. that make you visible (and profitable), they will stop it.

[sue vesta]

Originally Posted by jktr7973

Can anyone explain the difference between an ECN and a regular broker to me? Is there a catch to the tight spreads because I don't see why more people aren't trading with the ECNs?

just type ECN in search - you'll find out all you need to know.

[sue vesta]

Originally Posted by jm73

The reason why I don't like FXCM is their definition of scalping is not clear.

and I have impression that they tracks down whoever is making consistent money without long term position.

Maybe I am wrong but that's my impression since theit definition of scalping is not clear.

I just can't go with the shop with unclear policy against client.

I came to that conclusion too - with many brokers.