Scalping Forex Brokers

To engage in scalping, it is advisable to opt for brokers offering ECN, DMA, or STP accounts with a floating/variable spread and market execution of orders. Dealing desk brokers that employ the Instant Execution principle with fixed spreads are generally unsuitable for scalping due to potential volatility and frequent requotes. These conditions are prevalent among dealing desk or “market maker” brokers, hindering the proper execution of this strategy.

Scalping brokers typically offer specific trading conditions tailored for this strategy. Traders should diligently verify the presence of the following conditions:

• extremely low stop losses to minimize trader losses

• ability to open several positions during the day

• there are no restrictions on the time during which the order is open - positions can be kept open for just several seconds or minutes

• applications are created and closed instantly

• it is allowed to use auto-trading Expert Advisors (EAs) that may open and close dozens of trades per second

Top 6 Best Forex brokers for scalping 2023

Engaging in scalping trades in the Forex market entails increased financial risks. Therefore, WikiFX is highly advisable to collaborate exclusively with trustworthy Forex brokers. Below is a compilation of the top-rated brokers renowned for their suitability for scalping. These brokers not only enjoy significant popularity among scalping traders but also maintain a strong reputation in the Forex industry.

Exness

Exness presents attractive trading conditions, particularly on their Zero account, where traders can benefit from consistently low spreads fixed at 0.0 pips for the majority of the trading day. The maximum leverage offered by Exness varies depending on the tier chosen. Here is a breakdown of the available leverage options:

• 0 – 999 – 1:Unlimited

• 0 – 4,999 – 1:2000

• 5,000 – 29,999 – 1:1000

• 30,000 or more – 1:500

During weekends and holidays, the maximum leverage available at Exness is capped at 1:200. The broker operates as a Dealing Desk, offering a platform with a minimum deposit requirement of $10 and an impressive maximum leverage of 1:Unlimited. Traders have access to a diverse range of trading instruments, including 97 Forex options, 36 Cryptocurrencies, as well as a selection of Metals, Energies, Stocks, and Indices. This wide array of assets provides ample opportunities for traders to diversify their portfolios and engage in various market sectors.

Tickmill

Tickmill provides traders with a wide range of trading opportunities, offering a comprehensive selection of 295 tradable assets. This includes CFDs on currency pairs, metals, indices, bonds, and cryptocurrencies, as well as a minimum of 62 assets available for futures and options trading. For EUR/USD trading on a pro account, traders can benefit from a competitive typical spread of 0.11 pips. With a maximum leverage of 1:500, traders have the potential to amplify their trading positions. The minimum deposit required for both pro and classic accounts is $100, while the VIP account requires a minimum balance of $50,000.

FXCM

FXCM is a highly recommended broker for Forex scalping. By default, new accounts at FXCM offer leverage of up to 400:1 on CFDs and FX. However, when account funding exceeds 50,000 CCY, maximum leverage is adjusted to 100:1 on FX and 200:1 on CFDs. This ensures leverage aligns with the equity in your account, promoting responsible trading practices.

Opening an account with FXCM Markets requires a minimum deposit of $50 USD. The broker's new and improved system enables investors to trade a comprehensive range of popular currency pairs and CFDs. For instance, the average low spread for EUR/USD is as low as 1.3 pips, while GBP/USD typically has a spread of 1.8 pips. These competitive spreads enhance trading opportunities and support efficient scalping strategies.

FXTM

FXTM provides traders with the flexibility of a minimum deposit requirement of $50 and offers access to industry-leading trading platforms such as MetaTrader 4, MetaTrader 5, and their proprietary platform. These platforms offer competitive trading conditions, including average spreads of 1.9 pips for Eur/Usd, raw spreads as low as 0.0 pips, standard spreads starting at 0.5 pips, and minimum commission fees ranging from $0 to $2 for Forex trading. This ensures traders have a range of options to suit their trading preferences and cost considerations.

XM

XM provides investors with a wide range of trading opportunities, offering access to an impressive selection of 1,230 CFDs, including 57 Forex pairs. For those interested in exchange-traded securities, the XM Shares account requires a deposit of $10,000. The broker boasts competitive spreads as low as 0.0 pips and supports over ten trading platforms, including MT4, MT5, and XM WebTrader. Additionally, XM offers valuable features such as dedicated personal account managers, complimentary access to market research resources, and a host of other benefits to enhance the trading experience.

IC Markets

IC Markets Forex is renowned for offering highly competitive spreads, granting traders access to the largest and most liquid market in the world. With Raw spreads starting from 0.0 pips, coupled with commission rates of $3.5 per standard lot in a RAW account, the broker ensures favorable trading conditions. Additionally, IC Markets Forex provides complimentary VPS services in London and New York, further enhancing the trading experience. Traders can explore a diverse range of more than 61 currency pairs, leverage up to 1:500, and take advantage of deep liquidity, enabling seamless 24-hour trading opportunities five days a week.

How to choose the best brokers for scalping？

Are you seeking guidance on selecting the most suitable brokers for scalping？ Allow WikiFX to share some valuable tips to assist you in making informed decisions:

Scalping-friendly policies: Ensure that the chosen platform allows scalping as a trading strategy, as some platforms may have restrictions.

• RAW/ECN account availability: Opt for platforms that offer RAW/ECN accounts, as they typically provide lower trading costs, including minimal fees and extremely tight spreads.

• Strong liquidity from reputable providers: For successful Forex scalping, prioritize platforms that offer robust liquidity from reputable liquidity providers. This ensures smooth and efficient order execution.

• Access to free VPS servers and additional tools: The best platforms for scalping often provide complimentary resources like VPS servers and other useful tools to enhance trading efficiency and convenience.

By considering these factors, you can make well-informed decisions when choosing brokers for your scalping activities.

Advantages and Disadvantages of the Scalping (Pipsing) Strategy

Scalping, also known as pipsing, is a widely used trading strategy characterized by short-term trades lasting from a few seconds to a few minutes.

Similar to other trading strategies, scalping offers both advantages and disadvantages.

The advantages of scalping:

Scalping is an accessible strategy suitable for beginners, as it only requires basic technical analysis skills. It also allows for trading with a small deposit and the potential to execute a large number of trades within a single trading session, sometimes reaching up to 1,000 trades per day. Additionally, scalping provides the flexibility to trade in any market condition, whether it be trending or ranging.

The disadvantages of the strategy:

Scalping strategy involves aiming for minimum profit margins and not all brokers offer favorable conditions for scalping. Implementing scalping requires a specific mindset and approach to trading.

Scalping is a popular strategy employed by traders, including beginners, due to its numerous advantages. To ensure consistent profits from scalping, it is crucial to select a suitable broker that allows the use of this strategy without restrictions. Key factors to consider include the broker's order execution speed, spread sizes, and the availability of ECN accounts. By carefully evaluating these aspects, traders can make an informed choice and optimize their scalping endeavors.

*The provided information is for reference purposes only and should not be considered as financial advice or investment recommendation.