If you typically zoom in on small price movements of several pips or less, like placing multiple orders in quick succession, and seek fast and precise order filling without requotes, chances are you are a high-frequency trader.
I picked the cream of the crop of forex brokers that consistently achieve faster-than-average order execution speeds and serve HFT traders. I also gave extra credit to brokers that provide VPS hosting and FIX APIs integration. Here is my list of the best HFT brokers.
*AvaTrade doesn’t allow CFD trading in Spain; only Futures are available.
Our team of experts has identified brokers’ strengths and weaknesses using FXEmpire’s comprehensive methodology.
My live testing proved that FP Markets is the most well-calibrated broker for high-frequency trading. It treats its clients to a broad selection of nearly 1000 tradable instruments, while its fees consistently beat the industry average. FP Markets’ other perk for HF traders is the versatile cTrader platform.
High-Frequency Trading Features:
cTrader got my stamp of approval as the best option for HF trading because it supports Depth-of-Market (DoM) trading. Another perk is the integrated Autochartist content. You can replicate those with just a few clicks.
FP Markets also deserves credit for not having any minimum distance restrictions. What that means is you can place your protective stop-loss orders as close to your initial entries as you please and cap your market exposure. Because of that, I consider FP Markets one of the best options for exercising tight risk management, even for HF traders.
I also learned that FP Markets provides VPS hosting. You can use the tool to achieve order execution speeds below 5ms. The service is available for free to FP Market clients who achieve at least 40 lots of monthly traded volume on cTrader.
RoboForex appeals to beginners taking their first steps into HF trading by offering them tailored accounts, fair prices, and a wealth of educational content. What stood out the most in the offering were the dozens of practical trading insights for scalpers.
High-Frequency Trading Features
I deem RoboForex’s ECN account best-suited for beginner HF traders. Its chief advantage over most other brokers’ ECN accounts is its $4 commission, which beats the industry average of $6. You can activate your own RoboForex ECN account with as little as $10 in initial deposit.
I also gave RoboForex’s ProCent account a spin and found it equally good for beginners. It is the perfect jumping point into real-world trading from a practice account, helping you test your trading systems while keeping your profit-and-loss margin at a minimum.
Another highlight of RoboForex is its flagship platform – R WebTrader. It features 38 technical indicators, 31 drawing tools, 10 timeframes, and 5 chart types. The R WebTrader also helps beginners zoom in on viable trading opportunities as they develop. You can also use the one-click functionality for instant entries or floating stop orders for tight risk management.
FxPro is an established name in the trading sphere that attracts scalpers with its access to deep liquidity and powerful platforms. Its impressive numbers speak for themselves – the broker averages 8ms average order execution speeds and boasts a 98% fill rate.
High-Frequency Trading Features:
In addition to its ultra-fast order execution speeds, I also found FxPro to be a great choice for high-frequency scalpers because of its policy on low stop-limit orders. In particular, there are no stop-limit restrictions (0.0 pips) for scalpers using FxPro’s cTrader platform.
cTrader puts most other platforms to shame with its high usability. I found the platform a great fit for carrying out probing technical analyses and for trade automation. cTrader stands out with its excellent built-in coding environment, which allows you to program your own trading systems. cTrader is also one of the few platforms to offer timeframes lower than 1 second.
FxPro’s stack of trading platforms also includes the advanced FxPro Trading Platform and the popular MT4 and MT5. I also learned that the broker offers VPS hosting to high-volume scalpers seeking fast execution speeds and stable internet connectivity. The one outlier of the review was FxPro’s elevated Forex spreads.
AvaTrade stands head and shoulders above other brokers when it comes to social and copy trading, thanks to its diverse selection of trading platforms. The broker has developed its own AvaSocial trading station, specifically geared for this type of trading. It also incorporates DupliTrade – the premier retail trading station for social and copy trading.
High-Frequency Trading Features:
I found that both AvaSocial and DupliTrade permit clients of AvaTrade access to the broker’s 1450+ assets across currency pairs, commodities, stocks, indices, cryptocurrencies, ETFs, bonds, and FX options. The offering as a whole is far wider than the industry average, giving strategy managers ample room to exploit various trading setups.
High-frequency traders interested in copy and social trading can interact, replicate each other’s strategies, or share trading experience. Social and copy trading with AvaTrade does not include a servicing fee from the broker, which is another plus for cost-conscious traders.
You can open AvaTrade’s universal trading account with as little as $100 and connect your account to one of the broker’s copy trading stations. I also found out that AvaTrade’s lowest fees are across currency pairs, which may be something signal followers might want to keep in mind when choosing a strategy to follow.
Swissquote is a major Swiss investment bank with global outreach and an impressive lineup of over 3 million trading and investing products. Since its foundation in 1996, Swissquote has gone public and is now listed on the SIX Swiss Exchange. Its defining feature is its flagship CFXD. The platform delivers on all fronts – it has an intuitive design, powerful charts, and advanced market analytics.
High-Frequency Trading Features:
In addition to its 150+ analytical tools and chart configurations, CFXD supports one-click trading and all basic order types. It also features OCO and If-Done orders, which you won’t find with many retail platforms. Another highlight is the integration with actionable trading signals by Autochartist.
I was also impressed by Swissquote’s 9ms average order execution speeds. This already puts the Swiss investment bank in the top tier of forex brokers in terms of speed and efficiency, but it does not stop there. I further learned that Swissquote’s CFXD can be integrated with FIX APIs for Direct Market Access (DMA) trading.
On the downside, Swissquote’s Standard account features elevated spreads. It also has a relatively high deposit requirement of $1000, which may prevent some traders from getting started with Swissquote. However, such a high deposit barrier reflects Swissquote’s high-end tools and services for advanced traders.
IC Markets is an Australia-based forex and CFDs broker that was established in 2007. It has carved out a name for itself as the broker offering the most competitive spreads across currency pairs, commodities, stocks, indices, and cryptocurrencies. I confirmed this by collecting spreads on popular instruments from those asset classes and comparing them against the industry average.
High-Frequency Trading Features:
The highlight of my tests was the $0.02 crude oil spread I captured using the cTrader platform. This is 2x lower than the $0.04 benchmark and positions IC Markets as the premier option for HF energies trading. I also noticed that IC Markets achieved the same spread during both the London and New York sessions. This indicates its access to deep liquidity.
The cTrader platform itself is fast and reliable. It appeals to HF traders with its high-definition charts for technical analysis. It also offers some of the lowest timeframes in the industry, down to 1 second. This gives HF traders lots of legroom to explore even small changes in price action.
I also appreciated the platform for having a streamlined order flow and displaying ample information about an order you are about to place. It informs you of the order’s market exposure and risk factors, as well as the pip value, current swaps, and much more.
IG is a major financial institution that has earned a reputation for its deep liquidity, fast execution speeds of 15-25ms, access to more than 17,000 instruments, and a rich assortment of trading platforms and tools. All of these factors make IG my top pick for the best algorithmic trading broker.
High-Frequency Trading Features:
High-frequency traders with IG can choose between the broker’s MT4 and ProRealTime platforms for algo trading. My personal favorite is ProRealTime because it is faster and more feature-rich. Its other major leg up on MT4 is the ‘Market Replay’ feature, which offers HF traders access to historical price action going back years. They can use it to build sophisticated systems for a wide range of trading conditions.
Another highlight of ProRealTime is its integration with IG’s trading APIs for low-latency and Direct Market Access (DMA) trading. It allows you to obtain raw spreads directly from an exchange’s order books.
I used the standard CFD Trading account, which requires an initial investment of $50. My tests showed that the broker keeps its forex spreads tight, with a 0.6-pip spread on EURUSD, which beats the industry average of 1.10 pips. On the other hand, commodity spreads were markedly higher, with XAUUSD floating around 40 cents vs 25 cents industry average.
tastyfx dominates the US trading scene with its superior order execution performance. I learned that it averages 17ms order execution speeds, which dwarfs the industry average of 60s. The broker also performed very well on the platforms and tools front, having incorporated ProRealTime and offering free VPS hosting.
High-Frequency Trading Features:
I consider tastyfx’s ProRealTime platform to be the broker’s standout feature for HF traders. It handles rapid-fire trading extremely well and offers traders a penetrating look into price action behavior. Not only that, but the platform can also be enhanced with tastyfx’s VPS.
ProRealTime’s other leg up on more conventional trading setups is the ‘Market Replay’ tool. It offers HF traders access to a massive backlog of historical price data spanning years. Traders can use it to study how the market tends to behave in different conditions, and to backtest the entry and exit performances of their HF strategies.
Tastyfx also delivered on the price front. I recorded below-average spreads on Major FX pairs, including the EURUSD and GBPJPY. I used tastyfx’s Standard account, though more favorable conditions are available on its Zero+ account. With its raw spreads from 0.0 pips, it is well-calibrated for high-volume and HF traders.
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.
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.
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