Currently I use Oanda with a tiny account just to learn. I like Metatrader but I don't like the Brokers on Metatrader seems to me they are all trading against their clients account.
So I went to Interactive Brokers Site but it's not clear for me. Nobody here seems to know wall street brokers so will ask on elitetrader forum rather. IBFX seems great I love metatrader and their debit card but spread of 2 pips is not interesting for me as I am scalper.
Maybe for swing I would open an account with them. OK I tried Interactive Brokers free demo their java software really sucks but it's "professional" as you seem to have a huge set of features. So for people having decent account to risk that is interesting. Not sure I want to risk such account for now so I think I'll stay with Oanda for a while. Now their spread is 0.
I have IBFX as well. Theres a misconception that scalpers have to risk alot on any given trade. Scalping is not defined by your percentage risk: Going for one pip to me is kind of redundant. IMHO, scalping is intraday-trading. In and out in the same trading day wether it takes you a few minutes or hours.
If you're going for one pip, you'd have to be risking alot to make significant gains and you might be cutting some real winners short. I just don't see the point of it. Technically, that doesn't have to be the case. Your position size would proportional to your risk. If you're aiming for 1: I would rather qualify you as daytrader with a swing style as you want to rely on trend.
True scalpers do not look for trend in fact some style of scalping is even fading the trend on purpose. I would say Swing trader relies on huge points, true scalpers relies on huge probability. Of course you have in-between. Both can be daytraders. Of course a nano-scalper may have to trade 10 or even times in a day.
I don't know if I could handle that. To each his own, I guess. What kind of hybrid animal is that. It might be worth taking a look. IBFX also has min and micro accounts. So in short, yes, you can trade with less that 2k. And the leverage is Not sure I want to risk such account for now so I think I'll stay with Oanda for a while Now their spread is 0. I guess I'm a swinging scalper then.
How much is the minimum deposit for Oanda?More...