Note: I'm not sure where to place this particular question in the Forums -- I hope this is OK. Maybe it can be moved elsewhere if there is an appropriate place for it.
I have a system for scalping the USD/EUR that looks very promising. However, for scalping, since you are only looking for a few pips, finding a dealer with a very low spread is essential.
I'm looking for a forex dealer that offers all three of these:
(i) A low spread on USD/EUR (hopefully only 2 pips).
(ii) A programmatic interface to read their rates real-time.
(iii) A programmatic interface to place trades with them real-time.
This is the holy grail for me. I can find without difficulty dealers that now offer only 2 pip spreads on USD/EUR. But I don't have one that also offers the other two.
Any help would be appreciated.
Almost all the "Holy Grail" scalping systems that appear on C2 tend to fall apart when traded or autotraded on C2. The slippage, errors, commissions, autotrade and other fees tends to make them impractical.
Interactive Brokers offers all three I believe.
Thanks folks for your help. I’ll look into Interactive Brokers…
BTW, OANDA offers very tight spreads but… they expect you to pay $600 a month for the privelege of using their API to place trades with them!!! (What are they thinking?) I hope it isn’t the same with Interactive Brokers.
That is indeed a disadvantage of Oanda. IB is free though, and their api is implemented in various languages, including Java, C++ and Excel VBA.
Another solution you might be interested in is Openquant (http://www.smartquant.com/openquant.php).
