What is scalping?
Scalping is a kind of speculation involving extremely short transactions lasting from several seconds up to several minutes. Profitability of scalping strategy is based on performing a large number of transactions closed with a slight gain, usually not exceeding a few pips. For scalping is recommended that a relatively large capital, high financial leverage, excellent knowledge of technical analysis and a forex broker with low fees.
Best Forex Broker for Scalping
First of all, the broker for scalping should have a very low cost of trade and high transaction reliability, lack of requotes. Also important is the size of leverage, preferred is high and the nature of broker. MM brokers may prohibit or impede scalping, sensible choice are NDD brokers (STP or ECN).
List of brokers for scalping presents brokers that meet the following criteria:
This list contains description of selected brokerage accounts that are best for scalping.
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Comparison of Forex Brokers for Scalping:
| Broker for Scalping | and account for scalping | ||
|---|---|---|---|
Best Brokers for Scalping |
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| HFM | HFM broker offers great accounts for scalpers. Trader can use such accounts as Cent, Premium, Zero, Pro. | Account Name: Zero Regulation: FCA - UK, DFSA - UAE, CySEC - Cyprus, FSCA - South Africa, FSA -Seychelles, Minimum deposit: 0$ Maximum leverage: 1:2000 Spread EURUSD: typical 0.1 pips Commission: $3-4 per lot per side | Broker Review Broker Website |
| XM Group | Broker XM allows you to start scalping with low starting deposit which is $5. The best account for scalpers is XM Zero which requires $100 initial deposit and has very tight spreads. On EUR/USD and USD/JYP currency pairs average spreads are 0.1 pips. XM Zero account can be opened in three base currencies: USD, EUR and JPY. | Account Name: All accounts Regulation: CySEC, IFSC, ASIC Minimum deposit: $5 Maximum leverage: 1:30* *this is the maximum leverage for clients registered under the EU regulated entity of XM Group Spread EURUSD: avg. 0.1 pips Commission: 3.5$/lot (7$ round turn)** **applicable only for XM Zero Account | Broker Review Broker Website |
| RoboForex | RoboForex provides several types of accounts among which is the ECN-Pro No Dealing Desk, which requires a deposit of $ 1,000. ECN-Pro offers attractive conditions of the transactions: spreads from 0 pips and low commission. Broker RoboForex also offers account Pro-Cent and Pro-Standard that accept any deposits. Average spread on EUR / USD is 0.96. | Account Name: ECN-Pro NDD Regulation: FSC (Belize) Minimum deposit: $1 000 Maximum leverage: 1:200 Spread EURUSD: from 0 pips, avg. 0.36 pip Commission: $2.45/lot (MT4), $20/mln$ (cTrader) | Broker Review Broker Website |
| Tickmill | Tickmill broker provides two types of accounts suitable for scalping: Classic (from $100) and Raw (from $100), especially the latter is recommended for scalping with low spreads and commission. | Account Name: Raw Regulation: FCA - United Kingdom, CySEC - Cyprus, FSCA - South Africa, FSA -Seychelles, FSA - Labuan Malaysia Minimum deposit: 100$ Maximum leverage: 1:1000 Spread EURUSD: from 0.0 pips Commission: $3 per lot per side | Broker Review Broker Website |
| Yadix | Broker is designed for scalpers, he calls himself the Best Broker for Scalping & EAs and offers "Scalper" account. Yadix provides on the account the STP/ECN orders execution and allows for the most aggressive scalping systems and strategies. | Account Name: Scalper Regulation: FSC ( British Virgin Islands) Minimum deposit: 500$ Maximum leverage: 1:500 Spread EURUSD: from 0.1 pips Commission: 0.5 pip per side per lot e.g. 10$ round turn for 1 lot EURUSD | Broker Website |
| IC Markets | IC Market not only allow scalping, but also provides favorable conditions for this type of trading. Broker offers True ECN account with MT4, 60 currency pairs, 1:500 leverage, which is suitable for EAs and scalpers. For more demanding traders cTrader account is worth to look, it has lower overall costs. You can open cTrader account with $1000 minimal deposit. | Account Name: True ECN Regulation: ASIC (Australia) Minimum deposit: $200 Maximum leverage: 1:500 Spread €$: from 0.0 pips, avg. 0.1 pips Commission: $7 per round turn lot | Broker Website |
| FP Markets | FP Markets is a regulated broker form Australia, that offers two forex accounts: Standard and Raw. The accounts are both suitable for scalping, especially Raw accounts with tight spreads and low commission. The broker provides for trading on the MT4 and MT5 platforms. | Account Name: Raw Regulation: ASIC (Australia) Minimum deposit: AU$100 Maximum leverage: 1:500 Spread €$: 0.45 pips Commission: AU$3.5 | Broker Review Broker Website |
| IronFX | IronFX offers two types of STP/ECN accounts: No Commission or Zero Spread. Particularly interesting choice for scalpers is “Zero Spread ” account with spread as low as 0 pips. This type accounts allow trade microlots with leverage up to 1:200. Broker provides fast and reliable execution and also high level of fund safety. | Account Name: STP Zero Spread Regulation: CySec (Cyprus) Minimum deposit: 500$ Maximum leverage: 1:200 Spread EURUSD: from 0 pips Commission: 13.5$ round turn lot | Broker Review Broker Website |
| FXOpen | If you looking for scalper-friendly Forex account you can choose between 'STP' and 'ECN' accounts which are provided by FXOpen and have No Dealing Desk execution. On those accounts you can use all strategies: expert advisors, scalping, hedging and news trading. | Account Name: STP / ECN Regulation: FSPR (New Zealand) Minimum deposit: $100 / $1000 Maximum leverage: 1:500 / 1:500 Spread EURUSD: ? / from 0.0 pips Commission: no / $5 per round turn lot | Broker Website |
| LiteForex | Broker LiteForex offers many types of accounts among which it is worth to present “NDD”, as the name suggests this type of account allows “No Dealing Desk” transactions, this means that orders are automatically directed to external market. NDD is the best choice for scalpers from accounts offered by LiteForex. Account features: high leverage, low variable spread and no commission. | Account Name: NDD Regulation: RAFMM (Russia) Minimum deposit: $300 Maximum leverage: 1:500 Spread EURUSD: average 0.5 pips Commission: no | Broker Review Broker Website |
| AccentForex | AccentForex provides four types of accounts from which the “STP” account has the lowest spread. It requires a minimum deposit of $100. The minimum position size is 0.1 lot. | Account Name: STP Regulation: no Minimum deposit: $100 Maximum leverage: 1:200 Spread €$: from 0.4 pip, typical 0.8 pip Commission: 5$/lot | Broker Review Broker Website |
| Orbex | Orbex provides two ECN accounts that allow scalping. Standard ECN account, which requires a deposit of at least $500, allows you to trade on the major currency pairs with spreads as low as 0.6 pips. The second ECN account Advanced is designed for wealthy traders, the minimum deposit is $25 000. The high level of liquidity on ECN accounts is provided by Barclays, UBS and Deutsche Bank. | Account Name: ECN Standard Regulation: CySec Minimum deposit: 500$ Maximum leverage: 1:300 Spread EURUSD: from 0.6 pips Commission: 10$/lot | Broker Review Broker Website |
| LCG | LCG (London Capital Group) was founded in 1996. The broker is headquartered in the United Kingdom and regulated by the Financial Conduct Authority. All accounts offered by the broker have the right conditions for scalping. Basic account is accessible from any deposit, it has a small spread and a low commission on the basic currency pairs, while commission on the less popular pairs is slightly higher. There are two available Forex platforms: LCG Trader and MetaTrader 4. | Account Name: CFDs Regulation: FCA (United Kingdom) Minimum deposit: $0 Maximum leverage: 1:300 Spread EURUSD: avg. 0.95 pips Commission: 2.5$/lot (5$ round turn) | Broker Review Broker Website |
| Broker for Scalping | Information about broker and account for scalping | Account description | More |
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