Metals specialists vs FX generalists for XAU scalps
Posted: Sun Oct 04, 2026 10:46 pm
When choosing where to scalp gold, there are two broad types of broker: those that are primarily FX brokers and offer metals as one product among many, and those with a stronger focus on metals and commodities. I've had accounts of both types over the years, and the differences were not what I expected.
Spread. I expected the specialist to be cheaper. On my own logs, the difference in average spread during London hours was small, and the FX generalist was sometimes cheaper during 08:00 to 11:00. The specialist was noticeably tighter in the Asian session and around the 13:30 US releases.
Execution during fast moves. This is where the specialist did better in my experience. During sharp moves, I saw fewer rejected orders and less slippage on my larger tickets, though my sample of fast moves is small.
My conclusion, for my trading: an FX generalist is fine for London hours gold scalping. If I traded gold mainly around data or in Asia, I'd look harder at a specialist.
Spread. I expected the specialist to be cheaper. On my own logs, the difference in average spread during London hours was small, and the FX generalist was sometimes cheaper during 08:00 to 11:00. The specialist was noticeably tighter in the Asian session and around the 13:30 US releases.
Execution during fast moves. This is where the specialist did better in my experience. During sharp moves, I saw fewer rejected orders and less slippage on my larger tickets, though my sample of fast moves is small.
My conclusion, for my trading: an FX generalist is fine for London hours gold scalping. If I traded gold mainly around data or in Asia, I'd look harder at a specialist.