Best Forex Brokers for Scalping
Playing on short-term fluctuations is the riskiest type of trading. Accordingly, it requires a particularly careful approach to dealing with a broker. To make your task more accessible, we have selected the most reliable platforms most scalpers prefer.
Which Brokers Are Suitable for Scalpers?
Platforms with fixed spreads are not suitable for scalping. High volatility and regular revision of quotes reduce the profitability of this strategy and, accordingly, are unsuitable for scalping. It is better to pay attention to brokers with ECN, DMA, and STP accounts. Floating spreads are ideal for multiple trades. When selecting the best broker for scalping, pay attention to the following characteristics:
- the ability to make numerous transactions daily;
- no restrictions on the period for opening positions, allowing you to close transactions in a minute or a few seconds;
- fast execution of transactions;
- possibility of using auto trading.
Of course, you first need to find out if scalping is allowed on your chosen platform. If this type of trading is prohibited, it is useless to analyze other factors. After that, carefully read the proposed conditions. Typically, Pro accounts have lower fees, which makes scalping more profitable.
It is also worth choosing platforms with a highly liquid provider. It will ensure greater price stability and faster transaction processing. The presence of additional tools for scalping will be an additional advantage. Also, check for trading affiliate programs.
The Best Options
Let’s look at the benefits of five brokers that are best for scalping.
Exness
This broker is primarily famous for its account with low or zero spreads on most pairs. The platform features a low minimum deposit of $10 and provides numerous trading opportunities. Scalpers value Exness for its high reliability.
RoboForex
This platform is ideal for scalping due to its extremely tight spreads and favorable lot sets. If you plan to enter into many small transactions, we recommend that you pay attention to the capabilities of a Pro account with minimum deposit requirements and low commissions. It allows you to get the maximum benefit from your transactions.
Tickmill
This broker offers a variety of assets to trade, with a typical spread of 0.11 pips, making conditions especially favorable for scalpers. The minimum deposit is $100, but for a VIP account, it reaches $50,000.
FXCM
By opening an account with a minimum balance of $50, a trader gains access to spreads from 1.3 to 1.8 pips on major currency pairs. In addition, you can work with other assets. Advantageous leverage provides even more advantages for scalpers.
InstaForex
This broker offers favorable conditions because the minimum deposit is only $1. You will benefit from reasonably low spreads of 0.8 pips on the Pro account. On a standard account, the conditions are a little worse, but still quite attractive. Increased leverage provides additional benefits.
Conclusion
The scalping strategy is based on small changes in stock prices throughout the day and frequent entries and exits into the market during the trading session. Holding a position lasts from fractions of a second to several minutes, and a scalper can conclude up to several hundred such transactions per day. Accordingly, choosing a suitable broker is of paramount importance. Consider the recommendations in this article to find the perfect platform for your strategy.
