Scalping is a highly profitable yet complex strategy for trading in the currency market. Broker is a most important pillar for efficient strategy execution. It can directly impact your trading journey and the outcome. So, in this blog, we will learn about the best forex broker for scalping.
An Introduction to Forex Scalping
Forex scalping involves placing multiple trades from seconds to minutes to make money from currency’s short-term price fluctuations. Under this trading strategy, traders take advantage of the little movements, and the profit is also small. However, the overall profit is significant due to a high number of trades.
Generally, traders struggle to identify even one right opportunity in the market. Meanwhile, in a scalping strategy, traders place 5 to 100 trades per day. Thus, the strategy requires a deep understanding of the market, skills, and an excellent system.
9 Best Scalping Brokers
Numerous forex brokers are present in the market; however, only a few options are good for scalping.
Scalping requires ultra-fast trade execution, good leverage, tight spreads, high-frequency trading, technical analysis indicators, expert advisor integration, risk protection, and many other exclusive features.
Finding a scalping broker with such premium facilities out of so many options is quite difficult. To help you out, we have prepared this list of the best scalping platforms after proper research and market analysis:
IG
IG is a popular platform for trading in forex, indices, shares, cryptocurrencies, and commodities markets. With different products, the platform is suitable for trading different strategies.
IG offers exclusive features like fast and easy execution, tight spreads, trade alerts, risk management tools, and advanced analytics.
The broker has a great reputation and a large global community, making it an ideal option for scalpers. However, despite all its positive aspects, IG also has some negative aspects. It has a high minimum deposit and charges withdrawal fees.
A quick glance
A currency pair is a group of two currencies that represent the value of one currency relative to the other.
USD/JPY, CAD/EUR, and GBP/CNY are examples of currency pairs. The first two letters of the currency code represent the country, and the last letter represents the currency.
USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, GBP/USD, and EUR/USD are major FX pairs.
Minor Pair includes GBP/AUD, EUR/JPY, CAD/NZD, etc. Meanwhile, exotic pairs include USD/INR, CAD/RUB, TRY/GBP, etc.
EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD, EUR/JPY, EUR/GBP, and AUD/JPY are top traded currency pairs with the best market conditions.
Beirman Capital
Beirman Capital is a popular scalping broker platform that claims to provide ultra-fast execution. The spreads start from as low as 0.01 pips, and the trading fees are also low. The broker offers good leverage; the maximum leverage is around 1:1000.
Beirman Capital provides segregated fund account accounts, dedicated servers, VPS hosting, a wide range of servers, automated trading tools, etc. It helps high-frequency traders and scalpers execute trades efficiently. As a new broker, traders may have doubts regarding its credibility, so for that purpose, you can try its demo account services. It will help you get a clear idea about the platform.
IC Market
IC Market offers the most competitive spreads, starting from as low as 0.8 pips. The brokers offer the best trading conditions for scalping and day trading. Traders can set close stop loss level with IC’s no minimum order distance and zero freeze level facility.
In addition, it offers lot size flexibility, allowing traders to place very small and huge trades. Traders can experience excellent liquidity on the platform. Also, the maximum leverage offered is around 1:1000, which is quite high compared to other brokers.
Exness
Exness offers professional account services for experienced and advanced trading. The account types include spread-free accounts, raw spread accounts, and pro accounts. Raw and zero spread accounts involve commission, while pro accounts are commission-free.
The broker offers unlimited leverage and trade positions, which has placed it among the top forex brokers for scalping. These accounts are suitable for day traders, algorithmic traders, and scalpers. Also, with forex currencies, traders can trade in forex, cryptocurrencies, stocks, and all other popular options.
FXTM
FXTM offers a diverse range of instruments for trading and making money in the market. It provides ultra-fast order execution, a price improvement mechanism, volume-based rebates, high leverage, premium educational resources, and more.
The broker facilitates low-cost trading but charges withdrawal and inactivity fees. However, inactivity fees may not be a problem for scalpers as they are the most active ones in the market. So overall FXTM is surely amongst the best forex brokers for scalping.
Blackbull
Blackbull is one of the best broker platforms for trading in the financial world. Scalpers can start trading with no minimum deposit and trade in over 26,000 instruments. The broker offers leverage up to 1:500, and spreads start from 0.0 pips.
Traders can trade on Meta Trader 4, Meta Trader 5, ctrader, Blackbull invest, and Blackbull copy trades. The broker offers three types of accounts: Standard, raw, and pro. Detailed information about different accounts is available on the website; refer to it for further details.
Eight Caps
Eight caps is another popular option for CFD trading. The platform offers advanced trading tools, custom signals, and expert advisors. The broker also offers the option to integrate artificial intelligence into the system.
As scalpers make many trades throughout the day, managing them manually is not possible. So as far as automation is concerned it is ideal for forex or gold scalp trading.
FP Markets
With over 18 years of experience, FP Market is amongst the best forex brokers for scalping. The broker offers low spreads, top-tier liquidity, transparent pricing, and a fast execution facility. It also offers superior virtual private servers ideal for scalping, automated, and expert advisor trading.
You can trade in over 70 currency pairs, over 10,000 stocks, major indices, numerous commodities, and many other products. The broker also stands out in providing quality educational resources. You can get access to webinars, videos, trading courses, events, podcasts, ebooks, newsletters, and many other materials on the platform.
FX Pro
FX Pro is a great option for pro scalpers because of its exceptional execution and excellent market conditions. The broker offers a standard account with a floating spread starting at 1.2 pips. Meanwhile, raw and elite accounts for zero spreads.
The broker is regulated by the four best financial institutions. It has a large customer base and an overall good track record. The platform offers a number of educational and forex trading tools. The broker has a good website that you can refer to in case of any queries or doubts.
AvaTrade
Avatrade is a popular choice for scalpers due to fixed-spread trading. The broker provides multiple apps related to copy trading, charting techniques, and automated trading. The platform provides a leverage of up to 1:400 to scalpers, however, the ratio differs from country to country.
With the tight spread, high leverage, and advantage trading tools, Ava traders have the best client capital protection tools. It includes segregated account types, negative balance protection, risk management, etc.
Wrapping Up
Not every trader can be a scalper, and not every broker platform is ideal for scalpers. Professional trading approaches require professional brokers with exceptional features.
We have discussed the best forex brokers for scalping; you can select any of these platforms. However, try the broker’s demo account facility before subscribing to any broker.
Scalpers are of different types, and every scalper has some set of rules and ways of practicing the strategy. So, analyze the broker yourself to determine whether it matches your needs.
