Best Forex Brokers For Scalping and Advanced trader 2019

Eric Rosenberg
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If you know your way around the foreign exchange marketplace, you likely want the best tools, most cutting edge platforms, fastest trade execution, and lowest costs. You may not be able to get the best of every one of those at one place, but we did some digging to find the best forex brokers for your advanced forex trading needs.

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

 

The Bottom Line: The brokers below represent the best brokers for scalping and  advanced trades:

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
XTB
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Your capital is at risk

BaFin, CNMV in Spain, CySEC, FCA, IFSC

$0

1:200

MT4

2002

STP

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Your capital is at risk

FXTM
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90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4

2011

ECN, STP

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90% of retail CFD accounts lose money

FXCM
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Your capital is at risk

AMF, ASIC, BaFin, CONSOB, FCA, FSB

$50

1:30

MT4

1999

No dealing desk

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Your capital is at risk

Libertex
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Your capital is at risk

CySEC

$10

1:600

N/A

2014

Market Maker

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Your capital is at risk

CMC Markets
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Your capital is at risk

FCA

$200

1:30

CMC Web Platform

1989

Dealing Desk, Market Maker

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Your capital is at risk

FxPro
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Your capital is at risk

CySEC, DFSA, FCA, FSCA, SCB

$100

1:500

cTrader, MT4, MT5, Proprietary

2006

No dealing desk

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Your capital is at risk

Tickmill
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Your capital is at risk.

BaFin, CySEC, FCA, FSA

$100

1:500

MT4

2014

No dealing desk

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Your capital is at risk.

TradeStation
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TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

CFTC, FCA, NFA, SEC

$500

1:4

Proprietary

1982

DMA

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TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.


Best Brokers for Scalping / Advanced traders:


Find the right forex trading platform for your needs and goals

Forex trading offers an opportunity to test your currency price predictions with real funds. Whether you are a beginner or an expert, it is important to find a platform with pricing, features, and tools that align with your needs and trading strategy. By reviewing the listings above, you can zero in on the best brokerage with features you care about most.

If in doubt, you can generally start with a free demo account. This lets you find out exactly what you’re getting into with each platform. It also gives you a no-risk opportunity to click around, make mistakes, and test your abilities in the fast-paced forex marketplace.

XTB

Regulated By:BaFin, CNMV in Spain, CySEC, FCA, IFSC

Foundation Year:2002

Headquarters:Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom

Min Deposit:$0

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Your capital is at risk

Your capital is at risk

XTB supports both MetaTrader 4 and xStation 5. xStation 5 is a desktop trading app from XTB that supports the most important needs of experienced traders. Those include trade calculators, advanced charting, technical analysis, bulk order management, an integrated chat system, screeners, top lists, statistics, sentiment indicators, and more.

You can access XTB’s most powerful features on Windows or Mac desktop computers. You can also trade on the web, on your mobile device, or on any internet connected tablet. XTB is regulated in multiple international markets, offers cutting-edge technology, gives you access to a human account manager, and helps you manage the ins and outs of your trades. Enjoy our full XTB review here.

 

FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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90% of retail CFD accounts lose money

90% of retail CFD accounts lose money

This broker offers a dedicated foreign exchange trading platform that gives experts everything they need. With FXTM Invest, you can tap into a proprietary copy trading program. Beginners enjoy being able to copy expert traders. But experts like you can profit by sharing your strategy with others.

Strategy Managers with high rates of return attract green traders looking to follow along with your winning strategy. As a strategy manager, you can charge a fee to those who copy you and profit. You’ll probably want to start with a lower fee, around 10%, to build a fan base while new on the platform. The top three performers charge 30% to 50%. Learn more at the extensive FXTM review.

 

FXCM

Regulated By:AMF, ASIC, BaFin, CONSOB, FCA, FSB

Foundation Year:1999

Headquarters:0 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom

Min Deposit:$50

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Your capital is at risk

Your capital is at risk

While FXCM allows you to start small with just $50, experts will feel right at home in the custom built Trading Station platform – not to be confused with Trade Station below. The platform supports automated trading strategies as well as a proprietary charting system to monitor your favorite currencies.

FXCM doesn’t stop with its own platform. It also supports MetaTrader 4, NinjaTrader, and ZuluTrade. If you want to use more niche platforms, you can choose between eight additional supported tools. Find out more about them at the FXCM review.

 

Libertex

Regulated By:CySEC

Foundation Year:2014

Headquarters:Gladstonos and Karaiskaki Street, off 31, Limassol 3032, Cyprus

Min Deposit:$10

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Your capital is at risk

Your capital is at risk

Libertex offers trading for professionals and professional-level traders. With a professional Libertex account, you can access higher leverage and lower levels of protection than typical retail traders. With fewer protections, you have access to a wider range of trades including large lots of leveraged CFDs.

This broker asks for a few basic qualifications to open a professional level account, so if you are not a true expert you should look to a more beginner-friendly platform. You can trade 50 forex pairs with 600:1 leverage. Find out more at the Libertex review.

 

CMC Markets

Regulated By:FCA

Foundation Year:1989

Headquarters:133 Houndsditch, London EC3A 7BX

Min Deposit:$200

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Your capital is at risk

Your capital is at risk

The advanced trading platform at CMC Markets adds fuel to your digital trading experience. It supports highly customizable charts and views so you can build a true forex mission control that drives and informs your trading strategy. You get high order execution control and can hop in on your phone or with an iPad to manage your account on the go, though advanced features are primarily focused on desktop computers.

Charting, trading, and order entry tools put maximum control in your hands. Advanced platform features include trading right from a chart, price ladders for large orders, boundary orders, simultaneous long and short trades, and customizable pre-set order preferences. Get more details at the full CMC Markets review.

 

FX Pro

Regulated By:CySEC, DFSA, FCA, FSCA, SCB

Foundation Year:2006

Headquarters:13-14 Basinghall str., City of London, EC2V 5BQ, UK

Min Deposit:$100

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Your capital is at risk

Your capital is at risk

As the name implies, FX Pro is geared toward traders who want a professional-level experience. To that end, it gives you a wide range of choices for your favorite trading platform. Choose between MT4, MT5, cTrader, and the new FxPro Edge. Most experienced traders are familiar with MT4 and the newer MT5, still rolling out at many brokers. cTrader and FxPro Edge further differentiate this brokerage.

FxPro Edge offers among the lowest spreads of any supported FX Pro platform. FxPro Edge is limited to Spread Betting trades. If you want to enter other types of orders, you can look to cTrader and MetaTrader. Learn more about it at the detailed FX Pro review.

 

Tickmill

Regulated By:BaFin, CySEC, FCA, FSA

Foundation Year:2014

Headquarters:1 Fore Street, EC2Y 9DT, London, United Kingdom

Min Deposit:$100

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Your capital is at risk.

Your capital is at risk.

Tickmill gives you access to forex and other trading instruments on MT4 or the Tickmill web platform. Experts will enjoy spreads as low as 0.0 pips, leverage as high as 1:500, and commissions as low as 1 per side per 100,000 traded with the VIP account.

This forex broker does not limit any types of trading strategies, so you can login and follow a hedging, scalping, or arbitrage forex plan if you choose. Tickmill is regulated across Europe and earns high trust scores. You can manage multiple accounts at once and upgrade to an account with a Virtual Private Server (VPS) so your order executions run at ultra-high-speed even when away from your PC. Learn more at our Tickmill review.

 

TradeStation

Regulated By:CFTC, FCA, NFA, SEC

Foundation Year:1982

Headquarters:8050 SW 10th Street, Plantation, 33324

Min Deposit:$500

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TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation was founded by traders in Florida, and they built out a custom platform that is powerful and capable of running professional or institutional level accounts. It offers one of the best platforms of any US brokerage for any security. It also brings you several pricing options that can help you save on your active trading strategy.

Unbundled pricing gives you more flexibility and control over how you pay. Instead of a flat fee per trade, you can pay on a granular per-asset level. It offers accounts in the United States and international locations. Learn more at the full TradeStation review.

Introduction to Scalping

In this article we delve into what scalping is at its core. Learn about the regulations and firms who allow scalping. Discover the technology and methods involved, and we’ll look at what it takes to be a competent firm allowing the investment practice of scalping.

What is scalping?

When it comes to trading, scalping is the quickest investment practice regarding opening and settling positions. It’s considered to be a trading strategy unlike any other. For instance, typical traders will follow trends in the market, hold stocks for days, weeks, even months at a time. Even day traders will trade far less, focusing on the latest stock market news, events affecting markets, economic outlook, etc.

Scalpers on the other hand use a strategy based on technical analysis and short-term price fluctuations. A typical scalper will trade anywhere from 10 to a couple hundred trades in a single day. It truly is the shortest form of short-term trading. It’s a popular method among traders with the potential of making many small profits leading to large gains. However, scalping is considered a high-risk style of trading due to the frequent use and large amount of leverage.

What are the Regulations Concerning Scalping?

Scalping, like other forms of trading has its own set of rules and regulations that firms put in place to protect themselves and the clients trading needs. However, scalpers do have a lot of freedom and control over their strategies. They get to choose their stop loss or take profit orders, as well as their time frame for trading. What a scalper does not have any say over is; the server stability, spreads, and the brokers attitude toward the investment practice of scalping.

Some firms don’t even allow scalping techniques to be used by their clients- we’ll get to that in the next section. For the firms who do allow scalping, they are generally using ECN platforms due to their high speeds in terms of performance and the ability to create a no slippage atmosphere (the expected price of a trade will be the same as when the trade is executed). This also benefits ECN brokers by leading to more trade commissions. In other words, as a rule of thumb its important for investors interested in scalping to trade within firms that have proper regulations in place for scalping to be executed smoothly.

5 Important Aspects of Brokers to Consider for Scalping

  1. What is the broker’s policy towards scalping?

Most well-established brokers have an official policy allowing scalping techniques to be practiced. Others make scalping very difficult or unprofitable for traders. Some out right refuse scalping techniques within their firm. That being said, it is very important to understand your brokers policies before taking part in this potentially lucrative endeavour.

For instance, a broker allowing scalpers to trade have a system set in place to protect themselves from becoming bankrupt in the event of large profits or losses of their clients. (Forex brokers are liable to liquidity provider banks for the profits or losses of their clients). Brokers trade against the clients, which sets the total market exposure to zero. This allows the firm to be unimpacted by losses or profits by the clients. If a firm is incompetent with scalping practices and how to handle them, the trader can run into many problems such as slow servers, or accounts being deactivated. That being said, it’s best to understand your firms’ policy so you know they can handle the large amount of trades and leverage involved in scalping.

  1. What jurisdiction is your broker in?

You may not think it matters where your broker is located, but this couldn’t be farther from the truth. The forex exchange market has jurisdictions that strictly prohibit scalping. It is important to know what jurisdiction your forex broker is in. For instance, many offshore brokers prohibit scalping. These same brokers are often unregulated and considered unsafe. Regulations regarding money, compensation schemes, and scalping are set in the US, Japan, Australia, UK, Cyprus, and among others.

  1. Is your Broker using an ECN platform?

Brokers who allow scalping are generally using ECN platforms for their traders (Electronic Communication Network). These brokerages are among the fastest in the Forex world, and they provide a marketplace where market makers can place competing bids against the trader and vice versa. This makes it possible for brokerages to allow scalping and offer lower spreads. ECN brokers offer many other benefits too. Trading with brokers using ECN often offers lower fees and extra trading time, which is great for traders who prefer the flexibility over normal market times. Also, a great deal of privacy is available for those who want it. Another strong point for ECN brokers is the level of transparency. All the ECN brokers have access to the price information and history, allowing for easier analyzation of the marketplace and helping to prevent price manipulation.

Some additional things to consider about ECN brokers are:

  • Account Size- Higher deposits are usually required.
  • Execution- The high speeds of this platform is unparalleled compared to other systems. Sometimes spreads are non-existent and can even be inverted by a second or two.
  • Spreads- Are much lower than those used by regular brokers, because of this ECN brokers charge their clients a fixed commission per trade. However, spreads will vary a lot as they are based more precisely upon market supply and demand.
  1. Does the broker have fast speeds in terms of execution?

We’ve talked about how important it is to have a reputable broker with a regulated policy allowing scalping within the marketplace. But what’s equally important, is how fast the price feeds are. Since a scalper is trading many times in a short time frame, it is important to receive the latest quotes in a timely manner, and at the same time execute decisions without delay. Slippage is not an option for scalpers. They need to be able to trade constantly without delay, or trading this way would be impractical. I conclusion, scalping really is a high intensity trading method and requires state of the art tools, and a highly efficient brokerage firm.

  1. What does your broker specifically say about scalping?

If your broker is a highly reputable and competent broker, they should have no problem providing you with an absolute statement on weather or not scalping is permitted in the marketplace. Their statement should be concise and understandable, not with any grey areas or uncertainty. If a broker is hesitant about scalping, they are not the ones to use. Brokers who allow scalping and provide an excellent atmosphere and platform to do so will welcome scalpers with open arms.

Terms & Conditions: What to Look Out For?

The terms and conditions are very important to a scalper. By trading in an unconventional way there are certain terms and conditions that affect and apply specifically to scalpers. Some of these terms and conditions are as follows:

  • Make sure to check the amount of time you have to close your trades. Many well established and reputable brokers offer scalpers additional trading time outside of normal market hours. This can be important to a scalper who enjoys more flexibility.
  • Be sure that the broker definitively states that scalping is a viable trading method on the platform. You don’t want to be confused after reading whether its allowed or not. It should be concisely written in plain language.
  • If it says some where in the terms and conditions that price arbitrage is not aloud, then it might as well say scalping isn’t aloud either.

Reasons for choosing a broker that allows scalping

Brokers who allow scalping is not a bad thing, in fact it’s a very good thing. Brokers who allow scalping are more often than not, very established and reputable brokers. They are required to be competent and efficient which allows them to handle large amounts of orders. Scalping brokers also use modern and fast technology, which allows them to be very efficient at what they do.

Technical Tools for scalpers

Scalping relies heavily on technical software. Which is why it is of the upmost importance for the system to be fast and efficient. Not only are the performance requirements important, but the visual aspect of the software is of high priority to scalpers. A dedicated and experienced scalper will spend hours a day staring at the screen. Therefore, an interface that is easy on the eyes is very important. Also, a platform that allows the display of multiple time frames simultaneously is very important for keeping up to date with the latest price movements.

FAQ’s 3 questions and answers related to the topic matter:

Why do traders scalp?

Scalpers can make a large profit from many small profits. The technical analysis aspect of scalping draws attention to scalpers as well. A forex scalping system can either be manual or automatic- looking for signals on whether to buy or sell. The use of real-time charts is a scalpers best friend, and this method of analysis and trading attracts scalpers.

Why do some brokers disallow scalping?

Scalping requires a lot of technical power, techniques, and competence from a brokerage firm. If the brokers technological platform is out of date or too slow to handle large amount of trades in a short period of time they will run into issues. As well, brokerages need to have a system in place on how to deal with scalpers or they could lose money and become bankrupt- this often scares firms away from allowing scalping. Also, not all jurisdictions allow scalping- it depends where the broker is located.

Is scalping legal?

Yes, the practice of forex scalping is perfectly legal. However, you need to be in the right jurisdiction- some do not allow it. Scalping

Conclusion

Finding a broker that offers scalping is hard. But don’t worry we have saved you the time and effort by creating a list of the very best scalping brokers. Our list is compiled as the result of user reviews and our expert research.