Best Forex Brokers for Advanced Traders 2019

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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.

XTB

Regulated By:

BaFin, CNMV in Spain, CySEC, FCA, IFSC

Foundation Year
2002
Headquarters:

N/A

Min Deposit
$250
Visit Broker

Your capital is at risk

FXTM

Regulated By:

CySEC, FCA, IFSC

Foundation Year
2011
Headquarters:

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

Min Deposit
$10
Visit Broker

Your capital is at risk

Tickmill

Regulated By:

CySEC, FCA

Foundation Year
2014
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your capital is at risk.

Libertex

Regulated By:

CySEC

Foundation Year
2014
Headquarters:

N/A

Min Deposit
$10
Visit Broker

Your capital is at risk

CMC Markets

Regulated By:

FCA

Foundation Year
1989
Headquarters:

133 Houndsditch, London EC3A 7BX

Min Deposit
$200
Visit Broker

Your capital is at risk

FX Pro

Regulated By:

CySEC, DFSA, FCA

Foundation Year
2006
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your capital is at risk

FXCM

Regulated By:

AMF, ASIC, BaFin, CONSOB, FCA, FSB

Foundation Year
1999
Headquarters:

N/A

Min Deposit
$50
Visit Broker

Your capital is at risk

Trade Station

Regulated By:

CFTC, FCA, NFA, SEC

Foundation Year
1982
Headquarters:

8050 SW 10th Street, Plantation, 33324

Min Deposit
$500
Visit Broker

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.

Bellow you can find a comparison table of all the best Forex brokers for Advanced Traders

Scroll for more details
Broker
Rating
Regulations
Headquarters Country
Foundation Year
Min Deposit
Max Leverage
Trading Platforms
Publicly Traded
Restricted Countries
Trading Desk Type
Currencies
Commodities
Indices
Stocks
Cryptocurrency
ETFs
Bonds
Futures
Options
Mutual funds
Deposit
Withdrawal
commission on trades
fixed spreads
OS Compatibility
Mobile trading
promotions
Visit Broker
BaFin, CNMV in Spain, CySEC, FCA, IFSC

United Kingdom

2002

$250

1:200

MT4

No

United States

STP

Yes

Yes

Yes

Yes

No

Yes

Yes

No

No

No

Credit Card, Neteller, PayPal, Skrill, Wire Transfer

Wire Transfer

Yes

Yes

N/A

N/A

No
Open Account

Your capital is at risk

CySEC, FCA, IFSC

Cyprus

2011

$10

1:30

MT4

No

Belize, Japan, United States

ECN, STP

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Credit Card, Neteller, QIWI, Skrill, Webmoney, Wire Transfer

Credit Card, cryptocurrencies, Neteller, QIWI, Skrill, Webmoney, Wire Transfer

Yes

No

Desktop platform (Windows), Desktop platform (Mac), Web platform

Android, iOS

No
Open Account

Your capital is at risk

CySEC, FCA

United Kingdom

2014

$100

1:500

MT4

No

Croatia, Cuba, Iran, Iraq, Mozambique, Myanmar, Niger, North Korea, Spain, Sudan, Sweden, Syria, United Arab Emirates, United States

No dealing desk

Yes

Yes

Yes

No

No

No

Yes

No

No

No

Credit Card, Neteller, QIWI, Skrill, Wire Transfer

Credit Card, Neteller, QIWI, Skrill, Wire Transfer

No

No

N/A

N/A

No
Open Account

Your capital is at risk.

CySEC

Cyprus

2014

$10

1:600

N/A

No

Armenia, Australia, Azerbaijan, Belgium, Canada, Kosovo, Kuwait, Latvia, Lebanon, New Zealand, Paraguay, Philippines, Poland, Solomon Islands, South Africa, South Sudan, Sri Lanka, Turkmenistan, Uganda, United Kingdom, United States, Venezuela, Virgin Islands, British

Market Maker

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Credit Card, Moneta.ru, Neteller, QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money

QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money

Yes

No

N/A

N/A

No
Open Account

Your capital is at risk

FCA

United Kingdom

1989

$200

1:30

CMC Web Platform

Yes

United States

Dealing Desk, Market Maker

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

Credit Card, Wire Transfer

Credit Card, Wire Transfer

No

No

Desktop platform (Windows), Desktop platform (Mac), Web platform

Android, iOS

No
Open Account

Your capital is at risk

CySEC, DFSA, FCA

United Kingdom

2006

$100

1:500

cTrader, MT4, MT5

No

Canada, Iran, United States

No dealing desk

No

No

No

No

Yes

No

No

No

No

No

Boleto, China UnionPay, Credit Card, FasaPay, Moneta, Neteller, PayPal, QIWI, Skrill, Union Pay, Webmoney, Western Union, Wire Transfer

China UnionPay, Credit Card, FasaPay, Moneta, Neteller, PayPal, QIWI, Skrill, Union Pay, Webmoney, Western Union, Wire Transfer

Yes

Yes

N/A

N/A

No
Open Account

Your capital is at risk

AMF, ASIC, BaFin, CONSOB, FCA, FSB

United Kingdom

1999

$50

1:30

MT4

No

Russian Federation, United States

No dealing desk

Yes

Yes

Yes

No

No

No

No

No

No

No

Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer

Neteller, PayPal, Skrill, Wire Transfer

No

No

N/A

N/A

No
Open Account

Your capital is at risk

CFTC, FCA, NFA, SEC

United States

1982

$500

1:4

proprietary

Yes

N/A

DMA

No

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Wire Transfer

Wire Transfer

Yes

No

Desktop platform (Windows), Web platform

Android, iOS

Yes
Open Account

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.

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.