Best Forex Brokers for Scalping
Compare Forex brokers that actively scalping. Find a Forex trading account that meets your trading preferences whether that's on MT4, cAlgo or JForex.
Trade Forex and CFDs on over 10,000 stocks, indices, commodities and currency pairs when you open an IRESS account with FP Markets. FP Markets also supports MetaTrader 4 and 5.
- Markets: NA
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Australia, Saint Vincent and the Grenadines
- Incorporated: 2005
LiteForex (LiteForex.com) is an international ECN Forex broker. Trade a wide range of markets on Metatrader 4 or 5. LiteForex accepts a wide range of deposit methods, including Bitcoin, Monero and other cryptos.
- Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
- Regulators: CySEC
- Incorporated: 2005
LQDFX (LQDFX.com) is an international Forex broker and CFD provider headquartered in the Marshall Islands. It delivers STP execution on MT4 across 71 currency pairs, indices and commodities.
- Markets: Forex (CFD), Indices (CFD), Metals (CFD), Commodities (CFD)
- Platforms: MetaTrader 4, Mirror trading
- Regulators: Marshall Islands
- Incorporated: 2015
Trade Forex, cryptocurrencies as well as CFDs on stocks, indices and commodities with an STP/ECN broker. EagleFX (EagleFX.com) supports all trading styles and Expert Advisors on MetaTrader 4.
- Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: MetaTrader 4
- Regulators: None
- Incorporated: NA
If you're keen to engage in scalping, your broker should support all of the following:
- 1-click market orders
- Automated trading
- Option to pre-set stops/limits
- Depth of market (DOM) information
The Forex trading accounts featured in the comparison table on this page tick all these boxes. Use the search filters on the right-hand-side of the page to find an account that matches your preferences.
Depth of market
Depth of market (DOM) shows pending buy and sell orders for a currency pair at different prices. The greater the number of orders, the greater the market depth and liquidity.
The balance between buy and sell orders provides scalpers with unique insights into the most likely short term direction of change in prices. More liquidity in the bid suggests a long position may be in your interest. Likewise, a surge in liquidity available on the ask suggests the market may have a short bias.
However, depth of market information is only available from ECN Forex brokers. Neither Market Makers nor brokers with Straight Through Processing (STP) execution are able to show DOM.
Speed of execution
Speed of execution is everything when you engage in scalping.
Your broker's platform should support 1-click execution and trading from the charts. In addition, you could also consider automated trading strategies to monitor the market when you're away, protect your positions or realize profits from small changes in market prices.
Automated trading is available on range of platforms including MT4, cAlgo and other platforms. However, platform support is not enough by itself. Your broker should explicitly support all Expert Advisors in the case of MetaTrader 4 and automated trading robots in the case of cAlgo and JForex.
Set stops and limits before entry
Stop and limit orders can help mitigate risks and realize profits for small changes in market prices. Your trading platform's implementation of stop and limit could make a world of difference to your take-home profit.
First, a refresher for beginners:
- A stop order, also known as a stop-loss order, is a conditional order to close a position once a certain price is reached. A stop order helps protect against unfavourable movements in market prices and is designed to cap your losses.
- A limit order, also known as a take-profit order, works in reverse to a stop order. It is a conditional order to close a position once a certain price is reached. However, a limit ordered is triggered when prices move in your favour. It is designed to realize the profit on your position.
However, setting stop and limit orders can be tedious and time consuming. Ideally, your trading platform should allow you to set your stop and limit prices at the very same time you enter the market. You achieve this through robots on MT4, cTrader/cAlgo and other platforms.
Trade up to 71 currency pairs as well as CFDs on metals, commodities and indices through MT4. STP ... MoreTrade up to 71 currency pairs as well as CFDs on metals, commodities and indices through MT4. STP trading with no requotes. Swap-free account only available to clients of Muslim faith.
- $20 deposit
- 1:300 leverage ?
- 1.1 pips EUR/USD
Trade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not ... MoreTrade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not charge rollover fees or swaps on overnight positions. You cannot invest in crypto-currencies through this account.
- $100 deposit
- 1:400 leverage ?
- 1.9 pips EUR/USD
Trade Forex as well as CFDs on shares, indices and metals on floating spreads without commission. ... MoreTrade Forex as well as CFDs on shares, indices and metals on floating spreads without commission. This account, designed for Muslim clients, does not incur swap or rollover charges for holding positions overnight. Terms and conditions apply.
- $100 deposit
- 1:500 leverage ?
- 1.2 pips EUR/USD
Trade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no ... MoreTrade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no interest or commissions. Open an account online and request an Islamic account from your account manager.
- $1000 deposit
- 1:30 leverage ?
- 3 pips EUR/USD