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Forex Broker for Scalping

5 Best Forex Broker Comparison for Scalping

The Forex industry has about 10 million Forex brokers who regularly trade various financial markets. Some forex broker trade full-time, while others trade when they use their job or business as another source of income.

Forex trading requires a trading strategy depending on the type of market you want to approach and your trading goals. Some traders trade long term and some trade short term traders.

Traders can apply several strategies for short-term trading, one of which is scalping. This is a trading strategy used by many professional traders .It takes time and effort to make a profit and is best for traders who trade forex on a full-time basis.

What is Scalping?

It is a trading strategy that traders use to make small trades throughout the day. It works by trading small spikes in price and placing several similar trades. At the end of the day, the combined profits create quantitative income. This strategy is demanding and requires concentration to enter and exit the market in a short period of time. It also requires discipline, as one mistake can cost you all the small gains you make throughout the day.

This skill requires a forex trader who can manage small profits through numerous trades. Financial markets show small movements even when assets are not volatile. Scalper takes advantage of this. Small moves to enter and exit the market.

How does scalping work in Forex?

Scalpers need to find financial markets that are volatile to trade. Some scalpers do a short technical analysis before trading to trade on published news. Waiting for small spikes is tedious, which is why most scalpers prefer volatile markets.

After identifying a market favorable to scalping, traders wait for an opportunity to enter the market. There are many different ways scalpers trade, some profit by short selling, others long trade, and some do both.

The recommended way is to choose one or buy or sell an asset. It’s easier to follow the strategy than trying both. An important aspect of scalping is getting out of the market quickly before the price reverses and you lose money.

Scalping is short trading that takes 30 seconds, 20 minutes, or 30 minutes depending on the market. The scalper is looking for 6-20 pips and makes 20-50 trades per day. Cumulative profits from these trades are substantial.

Features of a good forex broker for scalping:

If a scalper wants to profit from scalping, one of the important factors to consider is the type of Forex Broker being used. Scalper requires speed, low latency, and low transaction fees. Here are some factors to consider when choosing a forex broker for scalping.

  • Regulated Forex Brokers That Allow Scalping
  • Fast execution speed means a forex broker ECN or DMA account low or negligible slippage
  • Low spreads and fees
  • high leverage
  • You will have access to numerous trading and research tools such as advanced charting software in multiple time zones.
  • Comprehensive and reliable research data
  • Responsive customer care team

List of 5 Best Forex Broker for Scalping Comparison:

1. Favorable market

Founded in Australia in 2009 as a Forex Broker, there are over 400,000 Forex traders. We offer 300 trading instruments, ranging from Metals, Stocks, Forex, CFDs, Indices, Commodities and Crypto CFDs.

Regulation

  • Australian Securities and Investment Commission
  • Vanuatu Financial Services Commission
  • Cayman Islands Monetary Authority

Account type

Users can open one of three accounts that offer a favorable market. Standard STP accounts with an initial deposit of $200, raw ECN accounts have a minimum of $500.The Pro ECN account has a minimum deposit of $20,000 with a narrow spread and a fee of $4.00 per round turn.

All these account types have the fast execution speed that scalpers demand. There is also a pool of liquidity where scalpers enter and exit the market quickly.

Commission

Forex spreads for standard STP accounts average 1.4 pips and no fee. Raw ECN Forex spreads range from 0.0 to a fee of $6 per round turn. Pro ECN accounts include forex spreads starting at 0.0 pips and a fee of $4 per round turn.

Vantage Market accepts free deposits and withdrawals via bank transfer, credit/debit cards, and e-wallets. There are no inactivity, conversions or hidden fees.

Influence

Leverage ratios start at 1:100, but forex traders can access up to 1:500.Forex leverage depends on your location and some regions have strict leverage policies. Forex traders can utilize it to scalp various financial markets.

Features of Vantage Market

  • A free demo account allows you to quickly and easily register and start trading with virtual funds.
  • Integrates the best trading platforms MT4 and MT5 with fast execution rates.
  • MT4 and MT5 offer over 170 trading instruments via RAW ECN and standard STP accounts.
  • Traders can open position sizes starting from 0.01 lot.
  • It allows scalping and hedging options both MT4 and MT5.
  • MT4 offers trading charts of up to 9 time frames, while MT5 reaches 21.
  • The user MQL4 and MQL5 to access automated trading.
  • Advantageous Markets Forex Brokers are available through mobile applications, desktop and web-based versions.
  • Social/copy trading is available through My FX books Auto trade, Zulutrade and Duplitrade.
  • Users have access to 50+ technical indicators, 30+ drawing tools, and 7+ watchlists.
  • There are additional trading tools in the Smart Trader and Trading views.
  • Customers with $1000 or more in their account will have access to the Pro-trader tools, while others will be able to use Trading Central, news and market updates.
  • Our educational content consists of videos and articles covering a variety of topics and financial markets.
  • Customer support is available 24/7 via live chat, phone calls and email.

Advantages of the advantageous market

  • Low spreads and fees
  • Fast execution speed due to STP and ECN accounts
  • Fast and efficient deposit and withdrawal process
  • high leverage up to 1:500
  • Quality trading and research material

Disadvantage

  • Access to financial markets is limited.

2. RoboForex

Founded in Belize in 2009, it has grown over the past decade and has served over 3 million Forex traders. Clients can trade 12000 financial markets, starting with metals, commodities, foreign exchange, stock index ETFs, cryptocurrencies and CFDs.

Account type

There are 5 types of trading accounts in RoboForex. Prime account with an initial deposit of $10, position sizes starting from 0.01-500 pips, up to 500 orders.

The minimum deposit for an ECN account is $10, traders can open position sizes from 0.01 to 500 pips and traders can place up to 500 active orders.

The R stock trader has an initial deposit of $100, 12000 CFDs and has unlimited open positions.

The initial deposit for the Pro Cent account is $10, and Forex traders can open trade sizes from 0.1 lot to 10,000 lot. They can have up to 200 open positions for MT4 and up to 1000 open positions for MT5.

The minimum deposit for a Pro account is $10, position sizes start from 0.01 -500 pips, and the maximum number of open positions is 1000.

Commission

Forex fees vary depending on the type of trading account pro and pro cent have forex spreads starting at 1.3 pips and there are no fees. The best trading accounts for scalping are ECN and Prime accounts with forex spreads as low as 0.0 pips and different fixed fees for a variety of assets.

R stock traders receive a commission of $15 for foreign exchange spreads starting from 0.01 pips and a base currency of 1 million trades. A monthly inactivity fee of $10 is charged after 1 year of inactivity on your trading account.

Deposits and withdrawals via bank transfer, credit/debit cards and digital wallets are free.

Influence

High leverage, which can be advantageous for RoboForex scalpers . Pro Cent and pro accounts have forex leverage of up to 1:2000.R stock traders and prime accounts are 1:300.Forex leverage on ECN accounts is 1:500.

Characteristic

  • There is a free demo account where users can practice their trading strategies.
  • We have integrated 4 types of trading platforms: MT4, MT5, R stock trader and cTrader.
  • MT4 has more than 50 technical indicators, 3 types of order execution, 9 time frames and trading tools like MQL4 algorithm trader.
  • MT5 has more technical indicators, 21 time frame chats, hedging options, faster execution speed, 4 types of market orders and other graphical tools.
  • C trader has 54 technical indicators, 14 time frames, algorithmic trading and 9 types of charting software.
  • R stock traders offer 13 technical indicators and several advanced drawing and charting tools.
  • Roboforex allows clients to compete with Copy FX, an advanced copy trading platform.
  • Roboforex is available in 22 languages ​​via mobile app, desktop and website versions.
  • Educational materials cover a variety of financial markets through videos, guides, blogs, analytics, community forums, and economic calendars.
  • Customer support is available 24/7 in 24 languages ​​via live chat, email and phone calls.

Advantage of RoboForex

  • Numerous trading platforms and accounts
  • fast running speed
  • various trading instruments
  • Low Minimum Deposit of $10
  • quality trading tools
  • There are Belize regulations from the International Financial Services Commission.

Disadvantage

  • Not available in all countries.

3. IC Markets

An Australian based Forex Broker established in 2007 and headquartered at: Sydney Australia. Clients have access to trading instruments such as Commodities, Stocks, CFDs, Cryptocurrencies, Stocks, Stocks, Futures and Forex.

Regulation

  • Seychelles Financial Services Authority
  • Cyprus Securities and Exchange Commission
  • Australian Securities and Investment Commission

Account Types in IC Markets

IC Markets offers three types of trading accounts: Raw Spread Meta Trader Accounts with an initial deposit of $200.Position sizes start with 0.01 lot and 500 position order limit.

The minimum deposit for a Raw Spread cTrader account is $200.Traders can open trading positions as low as 0.01 micro lots and order limit of 2000 positions.

The minimum deposit for a standard MetaTrader account is $200.Position sizes start from 0.01 micro lots and position orders are limited to 200 pieces.

Commission

IC Markets has low trading fees in favor of scalpers, raw spreads cTrader accounts have spreads starting at 0.0 pips and a fee of $3 per lot traded. Raw Spreads Metatraders have Forex spreads starting at 0.0 pips and a fee of $3.5 per lot.

A standard metatrader account starts at 0.6 pips and has no fees.There are no inactivity fees and deposits and withdrawals are also free. The accepted payment platforms in the ICmarket are bank transfers, credit/debit cards and electronic wallets such as Skrill, Neteller, etc..

Influence

IC Marketsis the right forex broker for scalpers. high leverage ratio. All three accounts offer forex traders high forex leverage of 1:500.This is not the same in many countries as some countries have a forex leverage limit of up to 1:50.

Characteristic

  • A demo account is available for all three trading accounts, allowing customers to test their trading features.
  • Scalper offers three trading platforms to choose from: MT4, MT5 and cTrader.
  • There are 51 technical indicators, 30 drawing tools and trading tools including charts from MT4, MT5 and cTrader.
  • It has data centers in New York and close to leading liquidity providers dedicated to ensuring fast order execution speed.
  • Traders get their trading research resources through regularly published blogs, trading ideas, and signals from Trading Central, Expert Advisors and Auto Chartists.
  • A free virtual private server is provided for traders who can surpass some trading conditions.
  • Zulu trade and MyFXbook Social and copy trading features via .
  • There are algorithmic trading provided by MQL4, MQL5 and c Algo.
  • MT4 and MT5 are available in mobile app, desktop and web versions and c Trader is available in desktop and web versions.
  • Customers can get basic and technical analysis from experts through the blog, video from Trading Central, and the website version of IC TV.
  • Educational content is delivered through articles, video courses and podcasts through our YouTube channel.
  • Customer support is available 24/7 via email, live chat and phone.

Advantages of IC Markets

  • Low spreads and trading fees
  • fast running speed
  • various trading instruments
  • Fast and free deposit and withdrawal
  • Quality customer support

Disadvantage

  • Limited research and educational resources

4. Capital.com

It is a forex broker established in 2016.It has grown to serve more than 700,000 Forex traders in 183 countries.. It offers 3700 trading instruments such as commodities, stocks, forex, indices and cryptocurrencies.

Regulation

  • UK Financial Supervisory Service
  • Cyprus Securities and Exchange Commission (CySEC)
  • National Bank of the Republic of Belarus

Commission

Average Forex Spread is 0.8 pips on Capital comand no commission. Deposit and withdrawal fees are also free, so this is a good offer for scalpers. There is a nightly fee charged based on the size of the position opened using leverage.

There are no inactivity fees or account maintenance fees. We accept payment methods such as bank transfer and credit/debit cards.

Influence

Capital.com offers forex leverage ratios of up to 1:500 for professional traders.Capital.com complies with the ESMA rule, which limits the use of leverage to no more than 1:30.Forex retail traders across the EU are limited to 1:30.

Professional traders can apply for leverage of 1:500, but the negative account balance protection provided by Capital.com only applies up to 1:30.

Characteristic

  • The demo account offered up to $10,000 in virtual funds for practice trading.
  • It offers MT4 and its own proprietary web trading platform.
  • Traders have access to advanced charts, over 75 technical indicators and drawing tools, 6 watchlists, and a stock screener.
  • Trading Central’s third-party research tools provide trading signals, trading perspectives and ideas for a variety of financial markets.
  • Access weekly published research articles, videos, charts and analytics for basic analysis.
  • com has a wide range of educational resources such as lectures, courses, instructional videos, tests, and a YouTube channel.
  • The InvestMate app that covers all your educational resources in one mobile application.
  • Customer care is available in 13 languages ​​24/7 via live chat, SMS, email and phone calls.

Advantage of Capital.com

  • Low forex spreads and no fee
  • MT4’s advanced trading tools
  • high forex leverage
  • A secure trading platform with regulations in Tier 1 jurisdictions.
  • Fast registration process
  • low initial deposit

Disadvantage

  • This Forex Broker do not offer MT5.

5. XTB

This Forex Broker have many years of experience in the Forex industry 20 years since its launch in 2002 . Users have access to 1500 trading instruments such as Forex, Indices, CFDs, ETFs, Stocks, Indices and Commodities.

Regulation

  • Belize International Financial Services Commission
  • UK Financial Supervisory Service
  • Cyprus Securities and Exchange Commission
  • Polish Securities and Exchange Commission

Account Types for XTB

We offer two types of trading accounts: Standard and Pro accounts. There is no minimum deposit on the standard account and forex brokers can open trade sizes from 0.01 lot. Access Forex, Indices, Cryptocurrencies, CFDs, ETFs CFDs and Commodities.

A Pro account has several qualifications to open a trading account, and a professional or professional Forex trader must meet several conditions to gain access.

Commission

For the Forex Spread Standard Account, there are no fees for many assets, starting from as low as 0.5 pips. Pro accounts have low forex spreads starting at 0.1 pips and a fee of $3.50 per lot. You will also be charged an inactivity fee of $10 per month after 12 months of inactivity.

Traders can deposit and withdraw for free via bank transfer, credit/debit cards, digital wallets such as Skrill and Pay Pal.

Influence

Forex leverage XTB depends on where you trade. For countries within the EU, XTB has strict laws providing forex leverage of up to 1:30.Countries outside the EU have a higher Forex leverage of up to 1:500 .

Characteristic

  • Forex traders, a free demo account, can use it to test the platform or practice trading.
  • It has its own proprietary trading platforms, X Station 5 and X Station Mobile.
  • The X Station 5 has a user-friendly design and the charting software is easy to understand and use.
  • It has risk management tools, a built-in trading calculator and economic calendar.
  • SMS and email notifications of outstanding transaction status.
  • X Station 5 features a quick launch, multiple charts, technical indicators and stock screener.
  • Forex traders can also use the copy trading function on the XTB trading platform.
  • The platform is available through desktop and website versions with mobile apps using the X Station 5 and X Station mobile platforms.
  • There are various courses and tests, live webinars and training articles available as samples.
  • Trading Academy has content for all traders, basic traders and professional traders.
  • Customer support is available 24/7 via phone, email and live chat.

Advantages of XTB

  • It has built trust among Forex Brokers over a long period of time.
  • Low transaction fees
  • Industry-leading research and trading tools
  • fast running speed

Disadvantage

  • MT4 and MT5 are not available.

Conclusion – There are several good brokers that allow scalping.

Forex trading is difficult because scalpers have to be fast. You need a good Forex Broker who can provide you with trading services tailored to your needs. This is why scalpers should choose their forex broker wisely.

Scalping can be very lucrative if you find the right trading strategy and a reliable forex broker. For scalpers, low forex spreads and fast execution speeds make it easy to trade.