When trying to profit from small moves in the market, the faster the execution, the better the price, and the higher the profit you reap. That’s why I always look for the fastest brokers with access to deep liquidity.
For a broker to make the cut on my list, its speeds must average below 100ms across all popular markets. The availability of things like VPS hosting and FIX APIs is also a plus.
I sampled all the brokers from our catalog and flagged the ones whose execution speeds put others to shame across several major categories, including:
Using FXEmpire’s comprehensive methodology, our team of experts has identified the best forex brokers for auto trading this year.
Now let’s explore the selected brokers.
FxPro has carved out a reputation for itself as one of the fastest and most diverse forex brokers in the industry, having served traders since 1999. I pored over FxPro’s order execution reports and was impressed by its numbers. The broker reports average order execution speeds of under 8ms and a 98% fill rate.
Key Features:
FxPro is also making strides with its diverse tradable platforms offering. I personally recommend the broker’s own WebTrader because it combines high functionality and smooth charting. I also found it very responsive, which is great for high-speed trading.
You can use the FxPro WebTrader to keep pace with the latest trading opportunities. I also used the platform to execute a long market order on the GBPJPY and US30 around that time, and experienced no requotes.
I also really appreciated that FxPro offers no restrictions on stop-limit orders. That means high-speed traders can place their protective stop orders as close to their initial entries as they please.
BlackBull Markets has invested heavily in developing its rich and diverse trading software architecture. Its defining features are BlackBull Markets’ VPS hosting and FIX APIs. You can use the two tools to achieve lightning-fast order execution. In particular, you can reduce your latency to under 10ms on average.
Key Features:
BlackBull Markets’ VPS allows you to achieve average order execution speeds below 10ms. It is available for free to funded accounts with at least $2,000 that achieve a monthly traded volume of at least 20 lots. Fast execution can also be achieved using BlackBull’s FIX APIs.
The great thing about BlackBull Markets is that both its VPS and FIX API solutions can be run directly on the cTrader platform. This is super convenient for scalpers and rapid-fire traders who can achieve maximum performance on one of the most robust trading stations.
Speaking of cTrader, it puts most other retail platforms to shame with its polished interface, fluid charting, and high level of customization. My favorite thing about the platform is its built-in coding environment, enabling experienced algo traders to automate their trading systems and backtest them against historical price action.
IC Markets breaks the mold of low-cost trading. The spreads I captured on instruments from popular markets beat the industry average across the board. My testing also showed that IC Markets averages order execution speeds of under 40ms.
Key Features:
The highlights of my testing of IC Markets’ Raw cTrader account were the 0.0-pip EURUSD spread I captured during the London session, and the 10-cent XAUUSD (gold) spread I observed during the New York market opening.
I recorded below-average swaps on Major FX pairs, metals, and stocks. This makes IC Markets a great fit for both day and swing traders. I also learned that you can get started with IC Markets’ Raw cTrader account with a low initial deposit of only $200.
IC Markets also performed quite well on the trading platforms front. In addition to cTrader, the broker offers active traders a choice between MT4, MT5, and TradingView. All offer access to the broker’s 2,200+ tradable instruments.
If you are taking your first steps into fast-execution trading, then Capital.com can be your best option. The financial derivatives broker offers comprehensive education and delivers fast order execution speeds of around 25ms.
Key Features:
Capital.com has a leg up on other forex brokers with its comprehensive educational offering. It helps newbie traders learn the ropes of technical analysis, fundamental analysis, and risk management. Its numerous articles and webinar episodes on trading psychology – how to adopt the right trading mentality and how to avoid falling victim to your own emotions – were a nice touch.
Capital.com also held its own on the fees front. From my live testing, I discovered that the broker’s spreads beat the industry average across the most popular markets. Last but not least, Capital.com impressed me with its massive tradable instruments offering of 7,700+ assets.
One of OANDA’s biggest advantages for US traders is its average order execution speed of 20ms. It easily beats the industry average of 214ms and enables scalping on all levels. Another perk of OANDA is its powerful trading station.
Key Features:
Price action is rendered in high definition on the OANDA Web Trader, making it extremely flexible. Chart artists can use it to flag various price patterns as they emerge, as well as trend reversals, breakouts, and more.
I used the platform to scale the EURUSD price action up and down, and found it easy to spot even minor trading setups with ease. This fluidity is owing to the fact that the OANDA Web Trader is powered by TradingView – the best charting software in the world.
I also gave OANDA’s trading platform credit for its FIX APIs compatibility. Clients in the US can use this protocol for Direct Market access (DMA) trading and to obtain raw spreads directly from an exchange’s order books. OANDA’s API trading solutions thus enable even faster order execution speeds.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.