Scalping is one of the short-term trading strategies used by traders across the globe. Traders take advantage of the small price movements and speculate on them to earn profit. In the foreign exchange market, traders often use scalping and appreciate this trading strategy worldwide.
You can also get your hands in scalping with a well-regulated broker. A broker plays an essential role in your trading journey. So we will discuss the best forex brokers for scalping in this article.
You must choose your broker very carefully, as scalping requires you to pay a minimum commission because you open or close your position multiple times throughout the trading day.
What is Scalping?
Scalping is the trading strategy that allows you to trade and profit from small price changes. It is also a practice of generating small profits through the quick reselling of securities. Scalping necessitates a lot of time spent in front of a trading platform screen for the appropriate trades because deals must be made quickly and consistently.
The forex market is the most liquid and turbulent in the world of trade. This method mainly focuses on profiting from a large volume of trades instead of profiting from an individual trade. As a result, scalping necessitates considerable focus and the capacity to remain calm in high-pressure situations.
It’s vital to have a long attention span and an aptitude for reading charts. Most scalpers usually trade in forex currency pairs. The traders widely consider scalping in the forex market as the forex market is the most volatile market in the world.
Scalpers make a number of quick entry and exit moves to earn profit from small trades. You’ll also require a strong and dependable internet connection to trade in the currency market.
How does scalping work?
The analogy behind scalping is that it is easy and less risky to speculate on small price moves rather than large price moves. Scalpers set the tight scalping windows. Scalpers must also use effective risk management techniques. These will include effective stop placement, which means the transaction will be immediately withdrawn if the price moves too far in the incorrect direction.
A swing trade may last several days or weeks, and a day trade may last a few hours, while a scalp trade lasts only a few minutes and even less than that. This means that scalp traders must always be completely focused on the chart and ready to react to price moves quickly.
Risk is frequently handled under a line of support for lengthy trades. Stops are set above a degree of resistance for shorts. A scalp trader who isn’t attentive in this way may miss out on potentially profitable setups. How near you position your stop will depend on how aggressive you are as a trader.
Now, if you want to become a successful scalper, you need to find a good broker that can provide you with favourable conditions along with no hidden charges. So are our top 10 picks of best forex scalping brokers.
Best Forex Brokers for Scalping
ROinvesting Forex Broker
ROinvesting is one of the best forex brokers for scalping. The brokerage firm is highly regulated by CySEC and other reputed financial authorities across Europe. In addition, Forex broker ROInvesting is known for providing a wide range of analytical tools that you can use for the technical analysis for scalping.
If done right, technical analysis can be beneficial to produce higher returns out of your investments, especially short term. And scalping is the short-term strategy that allows earning money in the shortest timeframe, which can be a few seconds. You can generate huge profits through a volume of trades by scalping using the free demo account provided by ROinvesting.
A free demo account makes you familiar with the trading platform, global markets, and technical tools, which are slightly challenging to utilize as a beginner.
PrimeFin Forex Broker
Over the years, PrimeFin gained the attention of each level of trader, whether a beginner, experienced, or seasoned trader. Somehow the brokerage firm manages to become one of the best forex brokers for scalping. The Labuan-based broker is well regulated by the established regulatory body Labuan Financial Services Authority (Labuan FSA).
PrimeFin offers up to 50% swap discount and free VPS, trading signals, and many other essential services to its clients to achieve good numbers through scalping. In addition, PrimeFin provides a free demo account with enough capital that you can use to simulate scalping efficiently.
There are no hidden charges and no minimum deposit to open a trading account with PrimeFin. Check our Primefin review and start trading.
ETFinance Forex Broker
Another CySEC regulated broker and one of the major financial service providers of efficient forex trading platform. You can trade on all major to exotic currency pairs with ETFinance under favorable conditions required for scalping. It ranks as the best forex broker for scalping among a large number of forex brokers.
You can tap into multilingual support of ETFinance for nay help regarding account customization, trading platform functionality, etc. the broker offers tight spreads, which is one of the significant advantages for scalpers as they can cash out on the difference between asking price and bid price.
ETFinance offers a variety of trading platforms and several free trading tools with comprehensive education material for scalpers. The brokerage firm also offers a dedicated account manager in premium account tiers with free news alerts and VPS.
101investing Forex Broker
101investing is an award-winning forex brokerage firm operated by the FXBFI Broker Financial Invest Ltd. and regulated by CySEC and other reputed financial authorities. Traders appreciate 101investing as the best forex broker for scalping as it provides various free trading tools and the world-leading trading platform MetaTrader 4 (MT4) to its clients.
You can learn from the wide range of educational sources provided by the 101investing. The brokerage firm offers a minimum spread as low as 0.03 pips. In addition, you can trade in more than 45 currency pairs with 101investing. You can also enjoy up to 50% swap discount and flexible leverage with 101investing.
There is no commission or hidden trading charges. You can exploit the free demo account provided by 101investing. You can heavily rely on the dedicated account manager while moving through your trading journey with the brokerage firm. 101investing would be a great choice if you are looking for a forex broker for scalping.
Capixal Forex Broker
Capixal is one of the leading forex brokers in the world. It is known for providing a comfortable and efficient trading environment. In addition, the brokerage firm provides a free demo account to simulate scalping and tight spreads that hold utmost importance in short-term forex trading.
The learning center of Capixal has abundant sources for beginners including webinars and videos also. In addition, you can avail of up to 50% financing fee discount with the brokerage firm. Capixal carved out its reputation as the best forex broker for scalping in 2021.
It is known for providing a broad array of account tiers to satisfy the requirements of each level of trader. The broker is well authorised and licensed by Cyprus Securities and Exchange Commission (CySEC) and operates under the IFC investments Cyprus Ltd. The broker also provides flexible leverage even for beginners and offers customer support in multiple languages for the clients’ convenience. Our Capixal Review article will help you to understand the functioning of the broker.
Brokereo Forex Broker
Brokereo is one of the greatest forex scalping brokers. The brokerage firm is known for providing the best trading environment for scalpers. Founded in 2013, the broker is regulated by the CySEC and operates under the NEO Premium Investments Ltd. Brokereo offers a wide variety of payment methods for deposit and withdrawal.
The broker provides 100% data protection and charges no trading commission. You can rely heavily on its education center to learn about global markets and easily apply trading strategies. There are more than 20 trading tools for analysis or market evaluation. In addition, Brokereo offers 24/5 dedicated client support. Check out our Brokereo Review and start trading.
The brokerage firm provides the opportunity to get familiar with the cutting-edge trading platform MetaTrader 4 using the free demo account with an ample amount of capital. Brokereo offers a minimum spread of 0.3 pips.
HFTrading Forex Broker
HFTrading is an award-winning financial service provider. You can easily access the trade history, intuitive interface, customized asset selection on the trading terminal of HFTrading. The broker provides so tight spreads, which makes it one of the best forex brokers for scalping. You can open your account with HFtrading with no minimum deposit.
The broker provides high trade execution speed as it offers the world’s leading trading platform MetaTrader 4, with 128-bit key encryption. Traders do not have to worry about their funds as the New Zealand Financial Markets Authority regulates HFTrading. HFTrading operates under CTRL Investments Ltd.
You can make a deposit using your preferred payment method. The broker offers a minimum spread of 2.1 pips. HFTrading allows hedging and provides all major currency pairs.
FXTM Forex Broker
FXTM is another broker which is known for providing the most advanced and updated version of the MetaTrader trading platform. It offers MetaTrader 5 (MT5). The platform has a wide range of trading tools that are useful for analysis in scalping which technically makes it one of the best forex brokers for scalping.
You can trade using the tight spreads provided by the forex broker. The broker offers various options for trading accounts. Each level of scalper can sign up for FXTM. The broker offers minimum spreads as low as 0.0 pips. FXTM (ForexTime) is a CySEC regulated broker operating under ForexTime Ltd.
The financial service provider is an award-winning broker for the best trading experience and is known for providing pivot points strategies and trading signals to its premium clients.
Emporium capital Forex Broker
Emporium Capital is a well-regulated brokerage firm that offers multiple trading account types for the convenience of each level of trader. You can trade on Webtrader, MetaTrader4, and mobile app through Emporium Capital. It is a Cypriot Investment firm (CIF) headquartered in Nicosia, Cyprus.
Emporium Capital is a trusted forex scalping broker that provides 24/5 customer support. Emporium Capital provides premium brokerage services for high net worth individuals, including one-to-one support and prime benefits for the clients. There is no dealing desk, and you can also use automated trading for more efficiency with emporium capital.
The brokerage firm keeps clients’ funds in a segregated bank account separate from the operational account of the broker itself.
InvestBy Forex Broker
InvestBy is an NBRB (National Bank of the Republic of Belarus) regulated broker that operates under TechFX LLC. The financial service provider does not charge any hidden fees and is one of the most reliable forex scalping brokers for short-term traders.
InvestBy offers minimum spreads from 28 for retail investor accounts. In addition, it provides the service of customized trading accounts and cross-trading. Clients can make maximum use of the dedicated client support offered by InvestBy Review.
Scalping is one of the successful short-term trading strategies followed by young traders. Scalping seems confusing and fast-paced trading technique initially, but you can get familiar with this trading strategy with the help of one of the above best forex brokers for scalping. Whenever you choose any broker, ensure that it is well-regulated by an established financial authority.