Do you love scalping and making profits on the small time frame from fast moving markets? Then, you need a broker that will allow you to scalp and that is suited to scalping. Whilst scalping is allowed by many brokers, a lot of these scalping brokers are not set up or designed for it. This means it is very hard for you to make a profit from scalping.
If you are with a broker that charges high spreads and commissions for each trade, then you are going to find it very hard to make a profit from scalping.
In this post we look at the best brokers you can use for scalping trading.
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Use our side-by-side comparison table to compare Forex broker accounts, spreads and fees.
Best Scalping Forex Brokers
OctaFX
| OctaFX | Regulation | Min Deposit | Platform | Open an Account | |
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CySec | $5 | MT4, MT5 and cTrader | Trade Now |
Pros:
- Small minimum deposit.
- STP style broker.
- A demo account is offered.
- Wide range of platforms.
Cons:
- Lacking in tier one regulation.
- Some countries not accepted.
OctaFX is a STP style broker that has opened more than 1.5 million trading accounts.
OctaFX covers 100 countries and they have won 28 different industry. Along with their MT5 platform you also get access to MT4 and cTrader platforms.
OctaFX offer a large range of free education and market analysis and you also gain access to their copy trading platform. This allows you to copy other professional traders and make money from their winning trades.
Your capital is at risk.
FP Markets
| FP Markets | Regulation | Min Deposit | Platform | Open an Account | |
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FSCA, ASIC, CySec. | $100 | MT4, MT5 and IRESS | Trade Now |
Pros:
- No withdrawal or deposit fees.
- Customer support through whatsapp messages.
- A demo account is offered.
Cons:
- Inactivity fee after three months.
- They do not have a very complete educational section.
FP Markets is also an Australian based broker that is regulated by ASIC.
This broker has been around a long time as it was founded in 2005. With FP Markets you have many different deposit and withdrawal options including all the major cards and Paypal.
FP markets offer a large range of education and market analysis and along with their MT5 charts, they also offer other trading platforms to suit your individual needs including IRESS.
Your capital is at risk.
Avatrade
| Avatrade | Regulation | Min Deposit | Platform | MetaTrader 5 | |
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FSCA, ASIC + Others | $100 | MT4, MT5 Ava Platforms | Trade Now |
Pros:
- They allow many different trading techniques.
- Many assets.
- 30 different languages.
- They offer Islamic accounts.
Cons:
- Minimum deposits sizes.
- Inactivity and overnight fees.
- US and Belgian customers are not accepted.
AvaTrade was established in 2006. They are highly reputable and are regulated by 7 jurisdictions.
This strong regulation allows AvaTrade to reach offer products to most parts of the world including the UK, Singapore, Australia,and the Middle East. Note: clients from the US or Belgium are not accepted.
AvaTrade offers a variety of assets and it is one of the best brokers for forex trading because it has 50 currency pairs that range from major, minor and exotic.
Along with being able to trade a huge range of Forex pairs you can also trade options, ETFs, bonds and commodities.
AvaTrade offers many different account types, and the availability will vary depending on the jurisdictions. The options are retail, professional, options, spread betting, and standard. A demo account, and Islamic accounts are also a possibility.
Another large bonus of AvaTrade is that they offer their services in 30 x different languages.
Your capital is at risk.
Forex.com (for US)
| Forex.com | Regulation | Min Deposit | Platform | Open an Account | |
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NFA, CFTC + Others | $100 | MT4, MT5, Web and mobile platforms | Trade Now |
Pros:
- Low FX fees.
- Numerous trading pairs.
- A wide range of research tools.
- Offers MT4 and other trading platforms.
Cons:
- Limited product portfolio.
- High stock CFD fees.
Forex.com has established itself as one of the best brokers in the world.
This is our number one recommendation for traders in the US as they have strong regulation including being regulated with the CFTC.
With Forex.com you get access to spreads as low as 0.2, the ability to trade on over 80 currency pairs and a wide range of trading platforms.
The MT5 platform on Forex.com comes with 20 free, easy to install EAs and custom indicators. When opening an account with forex.com you also get access to the full suite of downloadable, web, and mobile apps.
Your capital is at risk.
Plus500
| Plus500 | Regulation | Min Deposit | Platform | Open an Account | |
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ASIC, FCA + Others | $100 | Plus500 Platform | Trade Now |
Pros:
- Easy to use trading platform.
- Smaller minimum deposit.
- Quick and easy to open an account.
- Fast and helpful customer support.
Cons:
- Some countries not accepted.
- Educational resources not as great as others.
Plus500 is a market maker broker that offers their own trading platform that is very easy to use.
This broker offers trading on pretty much every market you could think of. If you cannot find what you are looking for on another broker, then Plus500 is probably for you. After signing up you get access to everything from Forex through to options and even ETF trading.
Plus500 offers large leverage, very small spreads and no commission trading making it a very good options for many different types of trading strategies.
Your capital is at risk.
What is Scalping?
Scalping is a style of trading where you are looking to make money on the smaller time frames as the 5 minute and 1 minute charts.
When scalping you are looking to profit from the small price increments both higher and lower.
As a scalp trader you are looking to get in and out of the markets quickly and often only holding your trades for minutes at a time.
How Does a Scalper Make Money?
A scalper is making their profits by using the small price movements higher and lower.
This is often done on markets that offer leverage such as Forex so profits can be enlarged. With the use of leverage even small price movements higher or lower can lead to large profits.
A scalp trader is not looking to only make one trade for the session and hold it. They will be making many trades and jumping in and out of the markets as soon as they find more trades.
What are the Best Markets for Scalping?
The best markets for scalping are those that offer leverage and low trading costs.
The lower the trading costs, the more profit the scalper can make.
These markets are markets such as Forex and Gold / Silver. These markets are regularly making explosive moves and offer very small trading costs.
The Best Types of Brokers for Scalping
The best types of broker for scalping are those that offer small trading costs and lightning fast trade execution times. If you want to start scalping, then you should start with one of the brokers below;
#1: OctaFX
#2: FP Markets
#3: AVA Trade
#4: Forex.com (Best for US Traders)
#5: Plus500
FAQ's
What is Scalping?
Scalping is a style of trading where you are looking to make money on the smaller time frames as the 5 minute and 1 minute charts. When scalping you are looking to profit from the small price increments both higher and lower.
How Does a Scalper Make Money?
A scalper is making their profits by using the small price movements higher and lower. This is often done on markets that offer leverage such as Forex so profits can be enlarged. With the use of leverage even small price movements higher or lower can lead to large profits.
What are the Best Markets for Scalping?
The best markets for scalping are those that offer leverage and low trading costs. The lower the trading costs, the more profit the scalper can make. These markets are markets such as Forex and Gold / Silver. These markets are regularly making explosive moves and offer very small trading costs.
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