Updated on: January 1st, 2025
Scalping is a very popular strategy in forex trading. It is a short-term trading method where traders buy and sell currency pairs based on small and fast price movements in the market. This strategy takes a lot of skill and practice to become a successful scalper. Also very importantly, you must choose the best forex broker for scalping, which is what this article is about.
Today, we will help you find the best forex broker for scalping, and discuss a few things about this trading strategy as well.
Compare the Best Forex Brokers for Scalping
Min Deposit: $50
Min Deposit: $100
Min Deposit: $50
Min Deposit: $100
Min Deposit: $10
Min Deposit: $0
Min Deposit: $100
Min Deposit: $100
What Is Scalping?
Before we review the choices for the best forex broker for scalping, let’s have a brief introduction to scalping first. As mentioned, it is a trading strategy that relies on small fluctuations in the prices of currency pairs. Just like with other strategies, the aim is to buy low and sell high. But in scalping, even the slightest price difference might be enough to sell.
In fact, if you look at the profits per trade in scalping, they are indeed small. After all, the price movements within a very short period are usually minimal. However, known for its high volatility, the forex market experiences several ups and downs in prices all throughout the trading day.
Therefore, doing these small trades repeatedly within a short period can yield an overall profit that is quite substantial. Of course, with the same reasoning, scalping can also result in massive losses.
Scalping Forex Brokers at Glance
|
Forex Broker |
Average Spread |
Regulation |
Currency Pairs |
Tradable Instruments |
Minimum Initial Deposit |
|
|
EUR/USD |
GBP/USD |
|||||
|
IC Markets |
0.1 pips |
0.3 pips |
CySEC, ASIC, FSA |
75 |
2251 |
$200 |
|
FXTM |
0.1 pips |
0.2 pips |
CySEC, FCA, FSCA, FSC, CMA |
60 |
1000 |
$100 |
|
FP markets |
0.1 pips |
0.2 pips |
CySEC, ASIC, FSCA |
60 |
8977 |
$100 |
|
AvaTrade |
0.9 pips |
1.5 pips |
ASIC, BVI, FSCA |
60 |
250 |
$100 |
|
Pepperstone |
1.1 pips |
1.6 pips |
ASIC, FSA, DFSA, BaFIN, FCA, SCB, CMA |
65 |
1726 |
$0 |
|
Tickmill |
0.1 pips |
0.4 pips |
FCA, CySEC, FSA, FSCA, DFSA |
62 |
725 |
$100 |
|
Admirals |
0.3 pips |
0.9 pips |
FCA, ASIC, CySEC, EFSA |
80 |
8702 |
$100 |
|
BlackBull Markets |
0.2 pips |
0.6 pips |
FMA, FSA |
72 |
26000 |
$0 |
|
Exness |
1.0 pips |
1.2 pips |
CySEC, FCA, FSA |
90 |
240 |
$0 |
|
FxPro |
1.4 pips |
1.6 pips |
FCA, CySEC, FSCA, SCB |
70 |
2120 |
$100 |
10 Best Scalping Forex Brokers Reviewed
In choosing the best forex broker for scalping, there are some key criteria to which you need to pay close attention. Topmost are low spreads for minimal transaction costs, and fast execution speeds to ensure you close trades at exactly the price you want. The best forex broker for scalping would also have advanced trading platforms that come with crucial tools and features needed for the rapid pace of scalping.
After taking a look at dozens of forex brokers, we have come up with the following list of brokers that meet our criteria, in no particular order.
1. IC Markets
IC Markets checks all the boxes in our criteria for excellent brokers for scalping. In addition to the low spreads and rapid execution speeds, this broker also offers both NDD and ECN pricing models. They also offer three different account types using either the MT4, MT5, or cTrader platforms. Their commissions are low, and they offer high leverage of up to 1:500.
2. FXTM
FXTM is an ideal scalping broker because of the ECN/STP execution type that they implement, making instant transactions possible. This broker’s spread is also low, starting at 0.1 pips and averaging at that same number for EUR/USD. FXTM is a highly regulated broker, making it a very safe place to make your scalping trades.
3. FP Markets
When it comes to competitive spreads, FP Markets is one of the first brokers that come to mind for several reasons. Firstly, their 0.1 pip spread for EUR/USD is one of the lowest you will find. Secondly, they have ECN and DMA accounts, which allows superior price transparency for traders and rapid execution. This also means there are no requotes and no dealing desk, so you can get trades at the exact price. Finally, traders can use advanced tools like Autochartist with the already impressive MT5 platform to further improve their trading outcome.
4. AvaTrade
AvaTrade is another highly regulated broker with a number of tier-1 licenses, as well as the Central Bank of Ireland. Spreads and fees are not that noteworthy, but AvaTrade does boast of excellent education through their AvaAcademy. They also have a wide range of tradable assets and platforms to choose from.
5. Pepperstone
With their VPS hosting and impressive liquidity pools, Pepperstone is able to maintain very competitive spreads on more than 60 currency pairs. They offer an excellent MT4, MT5, and cTrader platform especially suitable for scalping. Pepperstone also allows advanced tools like Autochartist, plus connectivity to cutting edge API trading, making algorithmic scalping possible. Beginners can also
6. Tickmill
Tickmill does not only allow scalping, but it is actually an excellent broker for this trading strategy. Spreads at Tickmill are remarkably low and execution speeds are ultra-fast, averaging at only 0.1 seconds, making them a top choice for scalpers. Furthermore, they don’t charge commissions for trading stocks, bonds, and indices. They also have very favorable trading conditions for scalpers, due to the minimal slippage and no requotes.
7. Admirals
Formerly known as Admiral Markets, this broker is the perfect place to practice a scalping strategy for forex trading. Firstly, they are highly regulated by top financial authorities including the FCA. They also have competitive spreads that start at 0.0 on major currency pairs, and fast execution speeds of as low as 4 milliseconds. Admirals also offers deep liquidity in coordination with top liquidity providers. As a bonus, they provide superior education and top of the line analysis tools for both beginners and expert traders.
8. BlackBull Markets
Scalpers require high precision and superior speed, and BlackBull Markets can guarantee both of these. They offer ECN/STP and no dealing desk execution on the MT4 or MT5 platforms, which ensures that traders will get deep liquidity, competitive pricing, and high leverage. There is also a zero minimum initial deposit requirement, and access to over 26,000 tradable instruments, including 72 currency pairs.
9. Exness
With licenses from top authorities like FCA, FSA, and CySEC, Exness is one of the most reliable brokers you can use for scalping on the forex market. They offer a number of trading accounts but for scalpers, the most suitable ones are the Raw Spread account and Zero account, where spreads start at 0.0 pips and commissions are very low. They also have a Pro account that charges no commission, and spreads start at 0.1 pips. All these accounts can be used on either the MT4 or MT5 trading platforms, as well as their proprietary mobile and web-based platforms.
10. FxPro
Having been in the industry for nearly a decade and with licenses from tier-1 regulators, FxPro is definitely a secure and reliable broker for scalpers. As an NDD broker with high-speed execution, FxPro allows you to execute trades at the exact prices that you want. They also provide complete transparency. Requotes, while a possibility, happen at a very minimal rate. With this broker, traders get access to a wide range of superior trading platforms, such as MT4, MT5, cTrader, as well as their own Edge platform.
Why Is Scalping Not Allowed by Some Brokers?
Some brokers do not allow scalping as a forex trading strategy. But let us be clear that scalping is a completely legal trading method. It’s just that some brokers prefer not to allow it due to the extremely high risk that comes with it. There are also some brokers that allow scalping but with certain restrictions. For instance, they might only allow a limited number of traders within a day, or perhaps impose a limit on the duration for holding a position.
What Are the Risks Involved in Scalping and How to Minimize Them?
Forex trading by nature already comes with plenty of risks. Scalping takes the risk factor much further. Since it involves making hundreds, maybe even thousands of trades in a single day, scalping multiplies the risk many times for the trader.
In order to minimize risk and maximize your chances of making a profit per trade, you must be very vigilant and have precise timing. You must make sure to not hold a position for too long, especially when it starts to lose and takes away a day’s worth of profit. It is also very important to keep your account adequately funded. Finally, it is once again crucial that you pick the best forex broker for scalping in order to make the most out of this trading strategy.
How to Choose the Right Forex Broker for Scalping?
In choosing the best forex broker for scalping, there are some key criteria to which you need to pay close attention. Topmost are low spreads for minimal transaction costs, and fast execution speeds to ensure you close trades at exactly the price you want. The best forex broker for scalping would also have advanced trading platforms that come with crucial tools and features needed for the rapid pace of scalping.
After taking a look at dozens of forex brokers, we have come up with the following list of brokers that meet our criteria, in no particular order.
Final Thoughts
With so many reputable brokers now providing suitable conditions for scalpers, finding the best forex broker for scalping should not be too hard. All the brokers in our list do meet the requirements for scalping so you would just have to consider the other features and see if they meet your preference. For instance, some have quite high minimum deposit requirements, while others have no minimum at all. Also, you have to check that the currency pairs or other assets you are interested in trading are included in their list of offerings.
