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Old 10-23-2008, 11:51 AM
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Default Did anyone know any ''desk or non-desk '' broker that permits forex scalping?

Did anyone know any desk or non deskbroker that permits forex scalping. I want to enter go into forex trading with $1000. I have used interbank meta trader 4 demo for 4 weeks now.Any advice on interbank or any other better broker.Is there going to interest on money like tax if you make a profit apart from the spread taken by the broker. Any information will be appreciated.If scalping is not allowed then What is the minimum minutes on a particular position be4 closing it. Thx.
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Old 10-23-2008, 02:15 PM
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Default Did anyone know any ''desk or non-desk '' broker that permits forex scalping?

You are asking several questions here.1) Which forex brokers permit scalping?Answer: Most retail forex brokers, dealer desk or non-dealer desk, all claim to permit scalping. It is in their best interest to attract as many traders as possible regardless of what the term "scalping" means to them. There are daily scalpers, hourly, min, second scalpers. All brokers dislike quick entry and quick exit traders, on the order of seconds that is. When you place a trade, there must be someone else on the other end to accept your trade. Brokers have the ability to pass your offer onto the interbank market. Unless your order size is large, it won't be in the broker's best interest to do this. They are likely to simply take the opposite trade that you take, in effect "executing" your order with the house (a casino term). At $1000, your best bet is to find a broker that acts like a casino and takes in every scalping order and executes it on the spot.To date, the best one for this purpose is Oanda.com.2) Interest or gains taxable?Yes your interest is AND your profitable trade gains are taxed. You will be responsible for paying federal taxes, depending on where you live. In the US, you will face short-term gains tax rates on all spot forex gains unless you take other measures.
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