Tips for Choosing Maxco Vs HFX for Scalping – Spot72.com
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Tips for Choosing Maxco Vs HFX for Scalping – There are many trading techniques that traders use to gain profits from the forex market. One of them is the method of scalping. In short, the scalping method is a technique that focuses on achieving small profits in a short time and is usually done by accessing a large number of positions. So, when the price moves according to the trading scenario, the accumulated profits will be large.
This strategy is very popular because it is recognized as effective and quickly obtains certainty of profit or loss. In general, scalping traders will use small time frames of 1 minute, 5 minutes and 15 minutes.
With the booming number of order executions, of course traders need reliable brokers with special specifications that can support the needs of scalping methods. The goal is to make scalping activities smoother and less stuttering. Currently, there are already a number of qualified local brokers who can combine scalping trading needs. Two of them are Maxco and HFX International Futures. So, which one is the best in these two brokers?
At a Glance About Maxco and HFX Brokers
Broker Maxco is a local broker that has been active in Indonesia since 1990. It has been operating for more than 30 years making it one of the local brokers with experience providing the best trading services in the country. Apart from that, Maxco is also supported by advanced trading tools, super-fast execution, and a wide selection of trading assets that are ready to be traded.
Regarding the legal status, the Maxco broker has obtained a permit from Bappebti with number 931/BAPPEBTI/PN/8/2006. Not only that, this broker also has membership from JFX (Jakarta Futures Exchange), Indonesian Futures Clearing House, and also ASPEBTINDO.
On the other hand, HFX International Futures is also one of the leading brokers in Indonesia, which was founded in 2006. This broker is known as one of the best service providers because it can present a trading situation with the best fees in its class. HFX has obtained a license from Bappebti with number 877/BAPPEBTI/SI/1/2006.
By offering a reliable trading platform and low trading fees, HFX broker is suitable for use in a variety of trading methods. In addition, HFX clients will be presented with an affordable minimum deposit and a partnership program with attractive prizes.
Best Broker Criteria for Scalping Strategy
Usually, scalpers will access many positions at one time. Because of this, accuracy and reliable trading platform capabilities are needed in dealing with the execution of orders in large quantities. Traders who use the scalping method also really need a broker with low spreads and commissions so they don’t guarantee the accumulation of inflated trading costs. So in general, there are 4 broker requirements that are suitable for scalping, among others:
- The broker allows scalping.
- Execution without delay or requotes.
- Low spreads and commissions.
Comparison of Maxco Vs HFX Scalping Conditions
Between Maxco vs HFX, next is an overview of the scalping requirements they have.
Knowing the broker’s decisions regarding scalping decisions really has to be done by traders, because actually not all brokers actually allow their users to take advantage of this method.
The good news is that Maxco and HFX do not apply exceptions to the trading method that will be used by traders. So, you can be sure that both of them can be used for scalping.
Trading Platform Quality
The next point that must be considered is the broker’s trading platform. Currently, there are many trading platforms that traders can use for scalping. However, not all subsequent platforms are in a broker.
Maxco and HFX brokers provide the most popular trading platform that can accommodate any method, namely MetaTrader 4. Overall, this trading platform has easy access, is user-friendly and functional.
MetaTrader 4 has also been tested to be able to handle a large number of order executions without delay or requotes so it is very suitable for scalping. Regarding execution speed, MetaTrader is known to be able to process orders in real-time in less than 200 milliseconds.
The MT4 platform on Maxco and HFX can be accessed by traders on various devices, from Smartphones, PCs, to web browsers. This is of course very possible for scalping traders who have high mobility.
Spread and Commission Fees
Trading scalping is not one technique by accessing more than one position at one time. So, traders really have to pay close attention to the trading fees charged by forex brokers. The smaller the “fee” or trading fee that is charged, it will definitely be great for scalping traders.
In this regard, the HFX broker is slightly superior with a spread fee of 0. (zero point) to 1 pips per entry. On the other hand, the Maxco broker sets a spread of 0. (zero point) to 1.7 pips for forex pairs and 2.9 pips for gold.
For commissions, the Makxco broker charges $1 for each standard lot traded. On the other hand, HFX broker has as little as $2 commission on Mini Classic and Classic accounts
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