Best Forex Brokers for Scalping in 2024

Last updated Feb 15, 2024
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

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. This article will look at the best brokers for scalping in the Forex market in 2024 and explain how to choose a proven partner for successful trading.

Top 10 Forex Brokers for Scalping 2024

Логотип IC Markets
1
Foundation Year
2007
Minimum Deposit
$ 200
4.7/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsIC Markets review18 reviews about IC Markets
Логотип Pepperstone
2
Foundation Year
2010
Minimum Deposit
$ 1
4.6/5
Register81.7% of retail investors lose money when trading CFDs with this brokerPepperstone review31 reviews about Pepperstone
Логотип AvaTrade
3
Foundation Year
2005
Minimum Deposit
$ 100
4.5/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsAvaTrade review
Логотип Roboforex
4
Foundation Year
2009
Minimum Deposit
$ 10
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsRoboforex review34 reviews about Roboforex
Логотип FxPro
5
Foundation Year
2006
Minimum Deposit
$ 100
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsFxPro review
Логотип CMC Markets
6
Foundation Year
1988
Minimum Deposit
$ 1
4.4/5
Register69% of retail investors lose money when trading CFDs with this brokerCMC Markets review
Логотип AMarkets
7
Foundation Year
2007
Minimum Deposit
$ 100
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsAMarkets review
Логотип Deriv
8
Foundation Year
2020
Minimum Deposit
$ 1
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsDeriv review
Логотип Admirals
9
Foundation Year
2001
Minimum Deposit
$ 1
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsAdmirals review
Логотип Oanda
10
Foundation Year
2001
Minimum Deposit
$ 1
4.3/5
Register71-76.6% of retail investors lose money when trading CFDs with this brokerOanda review

Choosing the right broker can be challenging due to the many offers in the market. To simplify the selection process, we have compiled a list of the best Forex brokers for scalping. In this list of brokers, you will find detailed information about companies that offer fast access to the trading platform, minimal spreads, and other necessary features for a successful scalping strategy.

1. IC Markets

Логотип IC Markets
1
4.7/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsETFPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 5MetaTrader 4cTrader
Deposit/withdrawal:
Логотип PayPal
Логотип Neteller
Логотип Skrill
Логотип Bpay
Логотип FasaPay
Логотип Klarna
Логотип Swift
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип UnionPay
Логотип POLi
Логотип Rapidpay
compare IC Markets trading accounts

IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.

Advantages of IC Markets

  • Regulation. IC Markets is regulated by two serious financial regulators, ASIC and CySEC, which guarantees client funds protection and trading conditions fairness.
  • A wide range of trading instruments. IC Markets clients can trade various assets, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
  • Low spreads. IC Markets offers some of the lowest spreads on the market, making trading more accessible and cost-effective.
  • MetaTrader and cTrader platforms. These platforms are widely recognized for their advanced trading features and analysis tools.
  • Educational materials. The broker offers high-quality training materials suitable for beginners and experienced traders.
  • Efficient customer support service. IC Markets clients note the high level of customer support service, which responds quickly and professionally to problems and questions.

Disadvantages of IC Markets

  • High minimum deposit. The entry threshold for opening a trading account with IC Markets is relatively high and may be inconvenient for novice traders or those who do not want to invest large sums at once.
  • A limited number of withdrawal options. The options for withdrawing funds from IC Markets are limited, which may cause inconvenience, especially for clients who prefer specific payment systems.

2. Pepperstone

Логотип Pepperstone
2
4.6/5
Register81.7% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyETFStocksPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 5MetaTrader 4cTraderTradingView
Deposit/withdrawal:
Логотип Neteller
Логотип PayPal
Логотип Skrill
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Pepperstone trading accounts

Pepperstone suits traders seeking a wide choice of platforms, tight spreads, and numerous trading instruments.

Advantages of Pepperstone

  • Wide selection of trading platforms.
  • Tight spreads and favourable trading conditions.
  • Numerous regulatory licenses.
  • A large number of trading instruments, including over 600 CFDs on stocks.

Disadvantages of Pepperstone

  • Lack of diversity in types of trading accounts.
  • Withdrawals are only available via bank transfer, which can prolong the process for an extended period.

3. AvaTrade

Логотип AvaTrade
3
4.5/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Trading Assets
ForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTraderAvaTradeGO
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Perfect Money
Логотип Google Pay
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип JCB
compare AvaTrade trading accounts

AvaTrade is suitable for traders who value various instruments, copy trading services, and a user-friendly mobile version of trading platforms.

Advantages of AvaTrade

  • A wide selection of financial instruments. AvaTrade offers more than 60 currency pairs and CFDs on stocks, indices, commodities, cryptocurrencies, and other assets.
  • Innovative trading platforms. AvaTradeGO, MetaTrader 4 and 5, and WebTrader provide convenience and functionality for trading.
  • Educational resources. Access to an education center with video tutorials, articles, and other materials helps traders improve their skills and knowledge.

Disadvantages of AvaTrade

  • Limited account options. The absence of market execution of orders, cent accounts, and fixed spread accounts may limit options for traders.
  • Fees. Costs for account inactivity and maintenance may impact trading profitability.

4. RoboForex

Логотип Roboforex
4
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesStocksETFPrecious MetalsEnergy CarriersAgricultural CommoditiesFutures
Trading Platforms
MetaTrader 5MetaTrader 4R WebTraderR MobileTraderR StocksTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип AdvCash
Логотип Perfect Money
Логотип Касса24
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип JCB
compare Roboforex trading accounts

Roboforex is suitable for both beginners and professional traders, thanks to its impeccable reputation, reliability, and fair conditions.

Advantages of Roboforex

  • A variety of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and R StocksTrader.
  • Over 12,000 trading instruments, including currency pairs, stocks, indices, ETFs, commodities, metals, and cryptocurrencies.
  • Different types of accounts for traders of all experience levels, including accounts with ECN and STP access.
  • Competent 24/7 customer support.
  • Loyalty programs and bonus offers for clients.
  • Low spreads and commissions, as well as the ability to trade with high leverage.

Disadvantages of Roboforex

  • Regulation in an offshore jurisdiction.
  • Beginner traders may find a lack of educational materials.

5. FxPro

Логотип FxPro
5
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4FxPro EdgeMetaTrader 5cTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Perfect Money
Логотип Swift
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип UnionPay
compare FxPro trading accounts

FxPro is suitable for traders looking for a reliable company with good trading conditions and a wide selection of instruments.

Advantages of FxPro

  • Various trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge, provide flexibility and convenience in trading.
  • A diverse range of available markets and products, including currency pairs, CFDs on indices, stocks, commodities, futures, and cryptocurrencies.
  • Analytical tools, including signals from Trading Central and Autochartist functionality.
  • Extensive educational materials, including free courses, articles, videos, and webinars, contribute to the development of traders.

Disadvantages of FxPro

  • An inactivity fee is charged after six months of no position opening or closing.
  • Average trading commissions. FxPro does not have the tightest spreads in the market and not the most minuscule trading commission per transaction.
  • Absence of cent accounts and services for copying trades of successful traders.

6. CMC Markets

Логотип CMC Markets
6
4.4/5
Register69% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsETFPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4CMC Markets
Deposit/withdrawal:
Логотип PayPal
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип Онлайн банкинги
compare CMC Markets trading accounts

Broker CMC Markets is suitable for all traders thanks to its reliability, low commissions, and excellent trading platform.

Advantages of CMC Markets

  • Regulation. CMC Markets is regulated by leading financial authorities, including the UK FCA, ensuring the security of client funds.
  • Low trading fees. The broker offers competitive spreads and swaps and does not charge fees for deposits or withdrawals.
  • Wide range of markets and products. CMC Markets provides access to various trading instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
  • Trading platforms. Access to the popular MetaTrader 4 and CMC Markets platforms, which offer flexible settings and an intuitive interface.
  • Analytics. The broker offers extensive analytical materials, including news from Reuters, an economic calendar, and technical analysis.
  • Education. CMC Markets offers comprehensive educational materials, including webinars, seminars, and courses.

Disadvantages of CMC Markets

  • Limited account options. The broker offers a limited number of account types, which may not meet the needs of all traders.
  • Inactivity fee. The broker charges a monthly fee if an account remains inactive for 12 months.
  • No online chat. While support is available 24/5, the lack of an online chat option may hinder instant communication with support.

7. AMarkets

Логотип AMarkets
7
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 5MetaTrader 4
Deposit/withdrawal:
Логотип Perfect Money
Логотип Neteller
Логотип FasaPay
Логотип Bank Transfer
Логотип Система быстрых платежей (СБП)
Логотип Visa
Логотип Mastercard
Логотип Мир
Логотип HUMO
compare AMarkets trading accounts

AMarkets is suitable for independent traders and investors due to various accounts, narrow spreads, and the possibility of engaging in copy trading.

Advantages of AMarkets

  • A wide range of trading instruments, including currencies, stocks, indices, commodities, and cryptocurrencies.
  • Extensive analytical capabilities using modern tools and trading robots.
  • No commissions on many operations.
  • Convenience and simplicity of opening an account and managing it.

Disadvantages of AMarkets

  • Not the most extensive educational materials. The broker offers essential resources such as a blog and FAQ but lacks deeper educational content such as webinars, courses, etc.
  • The broker does not offer a trading platform, which may disadvantage those seeking a unique trading solution.
  • On some assets, spreads are higher than those of competing Forex brokers.

8. Deriv

Логотип Deriv
8
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5Deriv XcTrader
Deposit/withdrawal:
Логотип FasaPay
Логотип Perfect Money
Логотип Skrill
Логотип Neteller
Логотип WebMoney
Логотип PaySafeCard
Логотип Jeton
Логотип SticPay
Логотип Airtm
Логотип Boleto
Логотип Paylivre
Логотип OnlineNaira
Логотип Beyonic
Логотип AstroPay
Логотип 1foryou
Логотип AdvCash
Логотип Swift
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип Diners Club
Логотип JCB
Логотип PayTrust88
Логотип Help2pay
Логотип DragonPhoenix
Логотип ZingPay
Логотип Ngan Luong
Логотип Trustly
compare Deriv trading accounts

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.

Advantages of Deriv

  • Relatively reliable with licenses from various global regulators.
  • 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 is suitable for traders of different levels.
  • High-quality technical support with fast and effective responses.

Disadvantages of Deriv

  • 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.

9. Admirals

Логотип Admirals
9
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersAgricultural CommoditiesCryptocurrencyStocksETF
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Perfect Money
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Admirals trading accounts

Admirals is suitable for short-term traders looking for a large selection of instruments and a good educational program.

Advantages of Admirals

  • Regulation. Admirals is regulated by several leading financial authorities, including the FCA in the UK and CySEC in Cyprus, ensuring high reliability and security.
  • Trading Fees. Trading commissions are set at a competitive level, making trading with Admirals cost-effective.
  • Wide Range of Payment Methods. Clients can deposit and withdraw funds using various convenient payment methods, including bank transfers, credit/debit cards, and electronic wallets.
  • Analytics. Admirals offers extensive analytical resources, including an economic calendar, trading news, weekly podcasts, and technical and fundamental analyses.
  • Education. The broker provides a rich collection of educational materials, including webinars, articles, guides, and e-books.

Disadvantages of Admirals

  • Inactivity fee. Admirals charges a fee if an account remains inactive for a certain period, which may be undesirable for some investors.
  • Support. Although the support service provides multiple communication channels and quick responses, some users sometimes complain about its intrusiveness and note unprofessionalism. Additionally, information about the support service's working hours is missing from the Admirals website.

10. Oanda

Логотип Oanda
10
4.3/5
Register71-76.6% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersAgricultural CommoditiesBonds
Trading Platforms
MetaTrader 5MetaTrader 4TradingViewfxTrade
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Oanda trading accounts

Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.

Advantages of Oanda

  • Strict Regulation. Oanda is regulated by leading financial authorities worldwide, ensuring high security.
  • Tight Spreads. Oanda offers competitive and transparent spreads.
  • Diverse Markets and Products. The broker provides a wide selection of assets, from Forex and CFDs to indices and commodities.
  • Advanced Trading Platforms. Oanda supports MetaTrader 4 and 5 and its proprietary platform, fxTrade.
  • Quality Analytics. Automatic pattern recognition, advanced tools for MetaTrader, a currency converter, and other resources are provided.
  • Extensive Learning Section. Oanda offers rich educational materials and resources, including webinars, videos, and articles.

Disadvantages of Oanda

  • Limited Account Types. Oanda offers only one standard type of account, which may not be suitable for traders with different needs.
  • Inactivity Fee. An inactivity fee may be charged if the account is not used for an extended period.
  • High Swaps. Oanda has relatively high swap rates, which could reduce the profitability of long-term trades.

How was the list of top Forex brokers for scalping 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:

  1. 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.

  2. 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.

  3. 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 top Forex brokers for scalping is created to help traders find the optimal broker that offers favorable trading conditions and suits the specific requirements of scalping.

How to Choose a Forex Broker for Scalping?

Choosing a reliable broker is a crucial step for successful trading. Some brokers may limit or prohibit scalping, so selecting those who allow this trading strategy is essential. Here is a list of criteria to consider when choosing a reliable broker for scalping in Forex:

  1. Licenses and Regulation - the presence of relevant permits and regulation of the broker's activities.

  2. Recommendations from Other Users - reviews and recommendations from other scalpers can help choose a proven partner.

  3. Liquidity - the higher the broker's liquidity, the lower the likelihood of slippage and significant price drops during scalping.

  4. Absence of Special Restrictions on Time and Profit Level - some brokers may limit the number and volume of transactions in a certain period or set a minimum lot size.

  5. Types of Accounts and Trading Platforms - availability of various accounts and support for different trading platforms to meet the trader's individual needs.

  6. Execution Speed - fast order execution speed helps to minimize risks and increase profits in scalping.

  7. Types of Order Execution - brokers operating on the ECN, STP, or DMA model and offering market execution of orders with floating spreads are preferable for scalping than brokers with instant execution and fixed spreads. The latter may have requotes (order execution refusals) during periods of high volatility.

  8. Low Spreads - the lower the spreads, the lower the transaction costs and the more opportunities for profitable trading.

  9. Customer Service Quality - the presence of highly qualified customer support available 24/7.

Considering these criteria, you can choose a suitable broker for scalping that will provide high-speed order execution, low spreads, and safe trading in the market.

What is the essence of the scalping strategy?

Scalping or pipsing is a popular trading strategy in Forex, which involves quickly opening and closing trades in a very short period, from a few seconds to several minutes. Traders who use this system are called scalpers.

The pipsing method consists of opening a large number of trades in a short time, aiming to maximize profit with minimal risks. Scalpers usually keep positions open for a few minutes and close them as soon as a profit emerges or when approaching a stop-loss.

To use this method, maximum order execution speed, low spreads, and minimal information transmission delay are required. Scalpers may also use advisors and programs that help automate the trading process and speed up decision-making. However, it should be noted that pipsing has its risks and limitations. The maximum number of transactions that can be conducted in a day may be limited by the broker, and too many open positions can lead to losses.

Is scalping suitable for all traders?

Scalping is a complex and risky Forex trading strategy, so it's unsuitable for all traders. Successful use of this system requires market analysis skills, an understanding of technical and fundamental analysis, quick reaction to market changes, and risk management ability.

Moreover, pipsing requires high concentration and endurance, as the trader must perform numerous quick daily trades. This can be physically and emotionally exhausting, so traders should be prepared for such work.

Scalping may be suitable for experienced and professional traders with sufficient Forex knowledge and experience. Beginners may find other trading methods more effective in the market.

Pros and Cons of Scalping

Advantages

  1. High Frequency of Trades: Scalpers open many trades in a short period, allowing for small but steady profits.
  2. Quick Results: Traders using pipsing can see the results of their trading operations faster than with other trading systems.
  3. Independence from Macroeconomic Events: Scalping does not require traders to analyze macroeconomic events and long-term market trends.
  4. Minimal Investments: The trading method does not require significant investments and can be used with small amounts.
  5. Possibility of Automation: Pipsing can be automated using unique trading robots and advisors.

Disadvantages

  1. High-Risk Level: Scalping can lead to significant losses if the trader incorrectly assesses the market situation or cannot react quickly to changes.

  2. Requires High Concentration and Endurance: Scalpers must be prepared to open and close positions multiple times daily, which can be emotionally and physically demanding.

  3. Dependence on the Broker: Successful scalping requires fast market access, low commissions, and a reliable broker. Some brokers may have time and level restrictions for scalping.

  4. Ineffectiveness in Low Market Volatility: Pipsing can be ineffective during periods of low market volatility.

Conclusion

Choosing a reliable broker for pipsing in Forex is essential for successful trading. In this article, we have examined the main criteria for selecting a broker for scalping and the advantages and disadvantages of this trading strategy.

When choosing the best broker for pipsing, it is necessary to consider parameters such as liquidity, execution speed, types of accounts and trading platforms, recommendations from other users, and more. Additionally, attention should be paid to customer service quality, licenses, and broker regulation.

Despite the risks, the discussed strategy can be effective if used correctly. It's essential not only to choose the right broker but also to have sufficient knowledge and experience in the market.

Thus, choosing a reliable broker is critical for successful Forex trading. Using these criteria and recommendations, traders can select a proven partner for their investments and enhance the effectiveness of their market trading.

Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.