10 Best Forex Brokers for Scalping in 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top scalping Forex brokers based on our analysis:
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IC Markets - Best Forex broker for scalping - A wide range of trading assets. Low spreads. Variety of trading platforms. - 2
Pepperstone - Wide selection of trading platforms. Tight spreads and favourable trading conditions. Numerous regulatory licenses. - 3
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 4
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 5
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 6
Deriv - Simple and fast account opening process. A wide variety of account types cater to different trading needs. Low commission structure. - 7
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FXOpen - Wide range of trading assets. Low spreads and commissions. Support for various trading platforms. - 10
HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews.
Forex scalping is a trading strategy where traders execute quick buy or sell trades on currency pairs. For effective use of this system, reliable and professional Forex brokers that allow scalping and provide fast and stable trading platform performance are essential.
Top 10 Scalping Forex Brokers 2024
1. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
2. Pepperstone
Pepperstone is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.
The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favorable trading conditions, various trading platforms, and access to complex trading instruments.
The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.
Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.
Pros and Cons of Pepperstone
Pros
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- Numerous regulatory licenses.
- A large number of trading assets.
Cons
- Lack of diversity in types of trading accounts.
3. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
4. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
5. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
6. Deriv
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
7. Admirals
The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals
Pros
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
8. OANDA
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of Oanda
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
9. FXOpen
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
10. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
How the list of best Forex brokers for scalping was compiled
The compilation of the list of top Forex brokers for scalping was carried out with particular attention to the specifics of this trading strategy. We considered the following essential criteria for selecting brokers specializing in scalping:
Our list only includes Forex brokers with low spreads and permission for scalping. This is critically important for scalpers, as low spreads can significantly reduce trading costs, and permission for scalping is necessary for using this strategy.
Brokers in our list are ranked according to our independent Forex broker list. This rating is based on an objective analysis of many factors, including the quality of order execution, customer service, and overall reliability.
The assessment of each broker was made based on our methodology. This methodology includes a comprehensive analysis of various aspects of the broker's activities, ensuring the accuracy and relevance of the information provided.
Our list of brokers for scalping is created to help traders find the optimal broker that offers favorable trading conditions and suits the specific requirements of scalping.
FAQ
What is the essence of a scalping strategy?
Scalping is a trading strategy in which traders make many short trades throughout the day, trying to capitalize on small price fluctuations. The main goal is to profit from price changes within a few pips. Scalping requires fast order execution, tight spreads, and high liquidity, which makes ECN and STP brokers a popular choice for this strategy.
Who are Scalpers?
Scalpers are traders who use a scalping strategy, making many short trades throughout the trading day. They try to capitalize on small price changes by opening and closing positions in minutes or even seconds. Scalpers rely on high liquidity and tight spreads to trade successfully.
What tools are used for scalping?
The main tools for scalping include technical analysis indicators such as moving averages, oscillators (RSI, Stochastic), and charts with short time intervals (1-5 minutes). Also popular are trading platforms with fast execution speeds, such as MetaTrader and cTrader, which provide minimal latency.
Which platforms are suitable for scalping?
The best platforms for scalping include MetaTrader 4, MetaTrader 5, and cTrader. These platforms offer fast market access, low latency, the ability to utilize algorithmic trading, and a variety of technical analysis tools needed to effectively trade a scalping strategy.
Which broker is best for scalping?
The best brokers for scalping offer tight spreads, fast order execution, and no restrictions on the minimum holding time for positions. Some of the top brokers for scalping include:
- IC Markets: Known for its ECN accounts with very low spreads and high execution speeds.
- Pepperstone: Competitive spreads and fast trade execution.
- RoboForex: Provides excellent conditions for scalping with tight spreads and quick execution.
Which Forex pairs are best for scalping?
The best forex pairs for scalping are those with high liquidity and tight spreads. The most popular pairs for scalping include:
- EUR/USD: The most liquid pair with tight spreads.
- USD/JPY: High liquidity and low spreads.
- GBP/USD: Suitable for scalping due to its volatility and liquidity.
- USD/CHF: A good choice for scalping due to its stability and liquidity.
Who is the best scalp trader?
Identifying the best scalp trader can be challenging, as it depends on individual skills, strategy, and experience. However, some well-known traders renowned for their short-term trading success include:
- Paul Tudor Jones: Known for his aggressive trading methods and ability to quickly adapt to market changes.
- Bruce Kovner: Famous for his success in short-term trading on the forex and commodities markets.
Do brokers allow scalping?
Most brokers do allow scalping, but it is essential to check the specific terms and conditions of each broker as some may impose restrictions or additional conditions. Brokers known for their favorable conditions for scalping include IC Markets, Pepperstone, Tickmill, and RoboForex. It is always advisable to review the broker’s trading rules and terms of use before starting.
Is Forex scalping profitable?
Forex scalping can be profitable, but it requires high concentration, quick reaction, and a well-defined strategy. Scalping involves making a large number of trades with small profits, which can lead to significant overall gains with the right approach. However, due to the high risk and stress associated with this trading method, it may not be suitable for all traders.
How much do scalpers make a day?
The earnings of scalpers can vary significantly depending on their strategy, capital, and market conditions. Experienced scalpers can make anywhere from a few hundred to several thousand dollars a day. However, beginner traders may earn less, and it is important to remember that scalping also involves a high level of risk and the potential for losses.
