This article is about the best forex broker for scalping, and it is crucial to pay attention to the low spreads, order execution time, and good trading conditions.
Scalping is all about sending your orders quickly and accurately. Therefore, I am sure that the right choice of broker is key to beating the market.
Key Point & Best Forex Broker For Scalping List
| Broker | Key Point |
|---|---|
| Exness | Offers high leverage up to 1:2000 for retail clients. |
| Swissquote | It provides a wide range of financial instruments, including cryptocurrencies. |
| FP Markets | Known for its low spreads and diverse account types. |
| FxPro | Offers a wide range of trading platforms and tools. |
| IG | Features a robust trading platform with advanced charting tools. |
| IC Markets | Offers low spreads and high execution speed. |
| Interactive Brokers | Known for its extensive global market access and professional trading tools. |
| Saxo | Provides advanced trading platforms and research tools. |
| CMC Markets | Known for its comprehensive trading tools and research. |
| FOREX.com | Offers extensive educational resources and trading tools. |
10 Best Forex Broker For Scalping
1. Exness
The scalping performance executed at Exness is remarkable because of the availability of the narrowest of spreads, speed of order execution, and mature trading environment.
Exness offers a variety of account types, high-leverage options, and a set of innovative features, making it comfortable for a variety of customers, from novices to advanced traders.
Plus, it is reputable due to the positive effect of regulation and customer support, making it one of the best brokers for scalping professionals.
Pros And Cons Exness
Pros:
Low Spreads: They tend to offer cheaper trading services via competitive and lower spreads, especially for scalpers.
Fast execution: The broker’s system has efficient order execution speeds, thereby reducing slippage and increasing trading efficiency.
Ease of regulation: Exness has a host of regulatory oversights that provide a safe trading ground and strong investor protection.
Cons:
A low number of Forex trading instruments: Exness has a smaller number of tradeable assets than some of its competitors.
Increased time value fees: For those greedy traders who wish to maintain their positions overnight, increasing swap fees may hurt several future trades.
Support Comments: Users sometimes complain of customer support response latencies.
2. Swissquote
Swisquote is one of the best brokers in the market for scalpers, thanks to its tight spreads and cutting-edge technology.
Swissquote is very well-regulated and provides the most super-fast execution that is favorable to scalpers so that they experience minimal slippage.
Because of the several account types offered, security, and quality of customer service, Swissquote is a fair broker for those actively trading day.
Pros And Cons Swissquote
Pros:
Comprehensive Research Tools: Swissquote possesses great research and analysis tools to assist the trader in making the right trading decisions.
Wide Range of Assets: With this broker, you have access to several asset classes ranging from forex to stocks and commodities.
Strong Security Measures: Swissquote has high security and is fully compliant with regulatory requirements, which means that traders are safe.
Cons:
Higher Fees: Compared to some of the other brokers, its fees, especially on the trading services, are a bit higher and may affect the profitability of active investing.
Complex Platform: Those who have not done forex trading before might find the platform quite complex, and there is a learning curve towards taking advantage of all features.
Limited Customer Support Hours: Traders are quite dispersed in different time zones, and customer support is not available on a 24-hour basis, by which time some clients will be missed.
3. FP Markets
FP Markets is ideal for scalping, featuring low spreads, rapid execution, and advanced trading platforms like MetaTrader 4 and 5.
It offers various account types and flexible leverage, catering to different trading styles.
Regulated by top authorities, FP Markets provides a secure trading environment, making it a favored
Choice for scalpers seeking efficiency and reliability in fast-paced market conditions.
Pros And Cons FP Markets
Pros:
Low Trading Costs: FP Markets deliveries extend very low spreads and market commissions, hence lowering the total trading costs.
Variety of Platforms: The brokerage offers the most known trading platforms, such as MetaTrader 4, MetaTrader 5, and cTrader, due to the different trading characteristics of consumers.
High leverage options. Clients of FP Markets have high leverage, which permits them to invest for returns on small investments to be.
Cons:
Limited Educational Resources: The Liteforex Education Center may not have as many tools and materials as some of its competitors, which may not appeal to those who are new to trading.
No Social Trading Features: There isn’t any social trading in FP Markets, which is a disadvantage for people who like copying other traders’ techniques.
Withdrawal Fees: There are certain fees for the withdrawal of funds, which can further increase the cost of trading, especially for people who trade very often.
4.FxPro
FxPro is an excellent choice for scalpers as it features low spreads and quick order execution in advanced platforms such as MetaTrader 4, MetaTrader 5, and cTrader.
Providing a solid trading infrastructure with a variety of account types and risk management features
FxPro helps beginner and pro scalpers alike. Regulated by leading institutions, the company’s environment is safe and comfortable for making fast trades.
Pros And Cons FxPro
Pros:
Diverse Account Types: The broker is generous when it comes to its account types as it provides the standard account, cTrader account, and DMA account, which allows different kinds of traders to hone their skills.
Comprehensive Market Access: The particular broker gives the opportunity to trade in many instruments, such as forex, indices, commodities, and cryptocurrency.
Advanced Trading Tools: Brokers provide advanced tools and features, such as the ability to use algorithmic trading to supplement their trading with other more advanced tools.
Cons:
Inactivity Fees: The defendant does impose inactivity fees, which, if clients do not comply, can even chase away some occasional traders.
Limited Research Materials: The broker does not have outstanding research and analysis material like many other brokers, and this can affect the market exposure.
High Minimum Deposit for Certain Accounts: Certain account types set a very high minimum investment, which can be a drawback to the beginner with little or no experience.
5. IG
IG is a preferred broker for scalping. It offers narrow spreads and fast order execution through MT4 or its web-based trading platform.
The company has a strong regulatory standing with excellent market outreach and high-level trading systems such as those offered by IG.
This makes it safe and effective for investors who wish to take advantage of time-sensitive opportunities in the market.
Pros And Cons IG
Pros:
Comprehensive Range of Markets – This broker provides the possibility to trade in various markets, including forex, stocks, indices, commodities, and even cryptocurrencies.
Diverse & Easy to Use Platform – The broker makes use of reliable and user-friendly trading platforms, including a web trade platform and mobile applications.
Quality of supported research – Also, the brokerage handles the analysis on amazing websites and educational activities such as webinars or analyst preparations.
Cons:
Higher Costs of Trading Certain Assets – Utilization of IG guarantees capital has its downside because capital tends to be on the high side for some assets.
Limited Customer Support Options – Customer support provided by the broker’s complaints department is available at specified times of the day.
Confusion about its Fee Structure – A large number of clients complained about how IG Forex charged them, stemming from confusion surrounding their charges on top of basic fees, which are the most common.
6. IC Markets
The excellent offer from IC Markets brokers earned the trust of traders, especially scalpers since there are specific advantages in low spreads offered by them that are set against efficient instant order processing.
IC Markets primarily supports MetaTrader4, MetaTrader5, and cTrader platforms for its clients, ensuring stress-free scalping.
It is regulated by very strict authorities, ensuring that its clients who are interested in quick and precise trading can do so without worries.
Pros And Cons IC Markets
Pros:
Tight Spreads and Commissions: IC Markets promises extremely low spreads as well as attractive commission rates, which greatly help in minimizing trading costs.
Numerous Trading Platforms: The broker provides a variety of trading platforms like MetaTrader 4, MetaTrader 5, and even cTrader for the different trader preferences.
Possibility of High Liquidity: IC Markets offers high liquidity, so you can rest assured of executing any trade and barely experiencing slippage.
Cons:
Beginner Level Education: How To Invest’s educational materials are finite in contrast to some of the other brokers’, which may help newcomers less.
Fees for Withdrawals: Excessive movements associated with certain types of withdrawal can result in high trading costs.
Cannot Socially Trade: There are no social and copy trading-enabled features that could have been beneficial to people who prefer to follow other traders or copy their strategies.
7. Interactive Brokers
Interactive Brokers is one of the best choices for scalping because of its low spreads, fast execution times, and advanced trading platform.
While plenty of market information and effective risk management tools are in place, it is also designed for less experienced scalpers.
Interactive Brokers, which is reputable and has a good standing in the competitive brokerage market, guarantees conditions for the effective performance of active high-frequency trading-precisely scalping.
Pros And Cons Interactive Brokers
Pros:
Diverse Markets: Interactive Brokers are known to provide a number of asset classes and a number of trading activities. It includes equities, options, futures, forex, and fixed income.
Cost-effective Trading: The most appealing and best part of the broker is that they are very low on trading costs and offer a mix of client commission plans and activities that are worthy for active traders and investors.
Proficient Trading Facilities Available: Interactive Brokers is equipped with retail clients with several specialized trading and bonding systems such as trading maps, sub-trading accounts with risk controls, and trade copies.
Cons:
Complicated Trading Platforms: It needs to be mastered that there are tutorials, but the user can also solve everything; it may take quite a long if a beginner is concerned.
Inactivity Penalties. Inactive accounts with interactive brokers are assessed with inactivity charges based on periodic time sessions within which there have been no trades nor increased account balances, and such practice can disappoint some rare traders.
Lack Of Sufficient Research and Education. The company’s research, reviews, educational systems, and tools are less than those of various other brokers, thereby affecting new traders.
8. Saxo
Saxo is perfect for scalping as it gives excellent execution speed, tight spreads, and a solid trading platform.
Being able to trade in multiple markets with plenty of specialized tools allows Saxo to accommodate most short-term trading strategies.
Customers who do scalping are provided with accuracy and speed due to the well-developed regulations and customer support.
Pros And Cons Saxo
Pros:
Research and Analysis of the Most Reliable:* The Company provides good facilitation of concepts about the market through excellent research, an econometric calendar, and daily news perspectives facilitating optimal trading.
Byeity Instruments: The broker makes it possible to trade with many asset classes, including cushions, financial markets, and stocks, among others, and there are different kinds of offerings.
Inter-New Platforms: New trader Saxo also comes with a well-developed SaxoTraderGO and SaxoTraderPRO, which are highly sophisticated trading platforms.
Cons:
Trading Expenses Nothing Too Heavy: More commissions and troublesome trading costs may be a high pitfall to unlocking healthy portions of overseas traders who are busy, and things are difficult to do.
Free Learning Sufficient Moral and if More of this Resources: However, while some educative material can be found among them, free offerings in the said region were not competitive in the fight for users’ attention in the market.
9. CMC Markets
CMC Markets provides all essential requirements for scalping, including tight spreads, speed of execution, and, to top it off, a high-end trading platform packed with an array of features.
Because of the strict regulation and extensive charting features, CMC Markets encourages proper day trading strategies.
It’s no wonder that scalpers leverage the interface and execution offered by the brokerage since they tend to be very precise and ruthless in their quest in the forex market.
Pros And Cons CMC Markets
Pros:
“Comprehensive Platform Features: CMC Markets provides traders with a robust trading platform complete with advanced charting, personalized indicators, and many more features for technical analysis.”
“Competitive Spreads: Very narrow spreads are offered by the broker on numerous assets, which would be of great advantage to active and high turnover traders.”
“Excellent Customer Service: CMC Markets is praised for the promptness and help provided with regard to customer issues, being available through a number of channels.
Cons:
“Limited Asset Availability for Some Instruments: CMC Markets offers a wide variety of assets, but some peripheral or specialized instruments may be hard to find.”
“No Social or Copy Trading Features: There is no social trading and copy trading feature, which could be a downside to those traders that want to follow or copy other traders instead of using their strategies.”
“High Fees for Certain Services: Other services and features offered, including data feeds, advanced trading tools, etc, are likely to be charged separately.”
10.FOREX.com
The best online forex broker for scalpers is definitely FOREX.com, as it has low spreads, fast execution, and platforms like MetaTrader 4 and its web platform.
It is highly exposed to the market because of its regulatory profile and advanced trading tools.
One is satisfied with trading frequently here. That is why it is the most preferred broker by scalpers, as its order execution and market accessibility are at their best.
Pros And Cons FOREX.com
Pros:
Diverse Teaching Tools: FOREX.com allows the use of different educational programs, including webinars and other articles, as well as guides on trading, which would be useful for beginners and professionals as well.
Varied and Efficient Trading Platforms: The broker allows trading platforms ranging from the much easier MT4 and MT5 to its web-based platform that meets different traders’ demands.
Regulation: FOREX.com is under more than one top governing body, ensuring that there is a proper and safe trading environment.
Cons:
Not all coins are available for trade: Virtual currency trading is available at FOREX.com, but the number of coins one can trade with is smaller than that of some sites.
Excessive Charges in Overnight Financing Schemes: Engaging with the trader on a long-term basis may be affected by the broker’s higher degree of overnight swaps.
Complicated Fees Programs: Forex.com understands the various accounts and services the client is charged with, and complex fee programs for some clients are less delivered to them due to the transparency.
How We Choose the Best Forex Broker For Scalping?
Quick Order Execution: For scalping, minimizing order execution slippage is of utmost importance.
Regulatory Restriction: This enables the broker to operate without regulation.
Low Latency: The time gap between placing a trade and the execution of that trade is much less.
Stability of Platform: The stability of the trading system ensures that trades are quickly and continuously opened and closed.
Support: Issues can occur during trading sessions, hence there is a need for supportive staff immediately to help out the issues.
Conclusion
Finally, the best forex broker for scalping should be selected based on a low spread, fast order execution, and a trustworthy forex broker platform.
With the right attention to these aspects, it is possible to improve one’s trading techniques and probability of success when trading the forex market at the speed of a scalper.
