Finding the right broker for scalping is much harder than it looks. Most broker comparison sites will highlight low spreads and a commonly used trading platform, but scalping demands so much more. It requires fast, quality, transparent execution, deep liquidity, one-click trading execution, and low costs – not just the spread but the commission too.
Fortunately, we’ve done the hard work for you! Our team of expert traders, analysts, and researchers tests over 80 brokers every single year by opening live accounts and assessing each one through a 250-data point checklist that covers everything – from regulation and fees to execution quality and platform performance.
For this list, we focused on the needs of scalpers, such as whether each broker permits this style of trading and whether their execution model is suitable for trying to profit from short-term price movements. We also tested how each of the broker’s trading platforms handles order execution and what the live spread is for different instruments.
Below, I’ve highlighted the best brokers across 10 specific categories, such as the best for low spreads and the best for beginners, to help you choose the right broker for your needs.
Using our comprehensive testing methodology, we have identified the best forex brokers for scalping this year. Let’s see who made the list.
Exness was founded in 2008 and is licensed by multiple regulators around the world but does not accept clients from Europe or the UK. The Zero account is the best option for scalpers as it offers raw spreads from 0.0 pips and a low commission from 0.05 USD per side, per lot.
The Zero account also has unlimited leverage, allowing scalpers to take on many trades at one time and no minimum order distance requirement, which means you can place orders very close to the market price. Prices will always be filled as there is a no requote policy.
Of all the trading platforms available, scalpers may opt for the MT5 platform, which provides 21 different timeframes, 38 inbuilt indicators and 22 analytical tools to trade on over 120 forex pairs. The platform provides access to Depth of Market and Level 2 quotes, enabling you to see the market depth of orders at different prices. The built-in forex calendar is useful to know when economic announcements are being released, helping you to plan to capitalize on any volatility or big moves in the market.
Founded in 1996, Swissquote is a publicly traded Swiss bank listed on the SIX Swiss Stock Exchange, providing a secure trading environment for scalpers. As Swissquote is a bank itself, it provides deep forex liquidity by sourcing from its network of tier 1 banks which is ideal for scalping.Â
The broker’s proprietary CFXD trading platform caters well to scalping strategies. I found the ability to set price alerts when instruments hit a specific price, build customized watchlists, trade directly from the chart and use a one-click trading button for fast execution. Our research shows that the broker’s average execution speed was 9 milliseconds last year, with a 100% fill ratio, which is far better than the industry average of 60 milliseconds.
For scalpers, the Prime Account is the best option. With spreads on EUR/USD from 1.1 pips, and a minimum deposit of $50,000, it’s not the most competitive offering but the range of trading platforms available and the features they provide, like trading signals, balance out the offering.
Founded in 2010, IronFX caters well to beginner scalpers. I recommend the IronFX RAW ECN or VIP ECN account type. The Raw ECN offers spreads from 0.0 pips and a commission of $6 per lot, per side, which is high and nearly double the industry average of $3. The ECN VIP account offers spreads from 0.3 pips and zero commission. Based on my calculations, the ECN VIP account is the winner.Â
Another highlight of IronFX is its diverse range of educational content, which features 30 video tutorials covering platforms and trading tools, over 620 recorded webinars on YouTube, over 100 podcast episodes, 7 educational video courses and a wide range of trader psychology articles. Beginners can learn about technical and fundamental analysis, trading psychology, and risk management, which are all crucial to mastering scalping.
Founded in 2006, FxPro is a no-dealing desk (NDD) broker. This means there is no broker intervention in your trades, with most orders being matched internally due to the high volume of its clients. I found one of FxPro’s best features for scalpers is their level of transparency in the quality of order execution.Â
The broker publishes data, which most recently showed that most FxPro orders are filled in under 14 milliseconds. Nearly 80% of market orders were executed at the requested price, with 10% of client orders receiving either a better or worse price.Â
Furthermore, 98.59% of trades were not requoted. This means that the broker managed to fill 98.59% of trading orders which is very impressive. Some brokers may requote the price you want to trade at as they cannot fill your order which is likely due to poor liquidity from their liquidity providers or slow technology to fill orders instantly.
The broker also provides access to high-performance trading platforms for scalpers such as MT4, MT5, cTrader, and FXPro’s own Edge platform. For scalpers, the MT4/5 Elite account is the best due to offering spreads from 0.0 pips, a commission of $3.50 per side, per lot (which is line with the industry average) and the ability to access rebates starting from $1.50 per lot.
Established in 1974, IG has been a household name in retail trading for decades. Listed on the London Stock Exchange, IG offers over 17,000 tradable instruments covering forex, stocks, indices, commodities, cryptocurrencies and bonds. This is by far one of the largest selections of instruments for a retail broker we have seen.
In our live fee test, I found the spread on EUR/USD averaged 0.6 pips during prime London and New York trading hours, massively beating the 1.08 pips industry average for commission-free trading accounts, making it a top option for scalpers.
For professional traders, IG’s Direct Market Access (DMA) account receives quotes straight from the interbank market and IG’s liquidity sources at centralised exchanges and different investment banks, providing price transparency and liquidity for high-quality trade execution.
Founded in 2009, RoboForex offers over 12,000 tradable instruments across currency pairs, commodities, share CFDs and real stocks, indices, and ETFs. Its flagship R StocksTrader platform is specifically designed to accommodate the needs of stock traders and makes scalping, swing trading and long-term position trading possible.Â
For stock traders, I would recommend the R StocksTrader account, as it allows trading of share CFDs and investing in real stocks. A leverage of up to 1:20 is available on US stocks, allowing scalpers to take more trades at low risk and diversify their trading activity. Stock trading commission is from $0.02, which is in line with the industry average. However, while the minimum deposit to open an account and trade most asset classes is $100, the minimum to trade US stocks is $10,000.Â
I tested the R StocksTrader platform and found the layout is easy to navigate and suitable for traders of all experience levels. There are over 60 technical indicators and drawing tools and the platform supports multiple order types like market, limit and stop orders. Uniquely for a broker’s proprietary platform, it also features a robot builder, allowing algorithmic traders to automate their trading systems.
FP Markets was founded in 2005 and provides access to the MetaTrader 5 platform, as well as ECN (Electronic Communications Network) and DMA (Direct Market Access) trading accounts (via the IRESS platform), making the broker ideal for scalping strategies. The Raw MT5 account is best suited to scalpers, as FP Markets offers access to a large liquidity pool and low-latency execution to minimize slippage.Â
The Raw MT5 account offers raw spreads from 0.0 pips and a per-lot, per-side commission of $3.00, which is in line with the industry average. The best feature of the MT5 platform for scalping is the built-in Depth of Market and Level 2 price data, which allows you to see the volume of orders at different price levels, helping to identify areas of high liquidity.
I found the standout feature from FP Markets is the Traders Toolbox, which is a set of additional plugins and indicators for MT5, like an alarm manager, correlation matrix, stealth orders, a mini terminal and sentiment trader indicator. My personal favourite is the mini terminal as it has a built-in risk management calculator which the basic MT5 platform doesn’t have. This is great for scalpers who need to do risk management calculations in seconds directly on the chart.Â
IC Markets was founded in 2007 and caters to high-frequency and high-volume traders using MT5, MT5 and cTrader platforms. For scalpers, the cTrader Raw is the best option. IC Markets’ ECN pricing model means it quotes from liquidity providers and the interbank market with no dealing desk intervention. This allows the broker to offer fast execution speeds as their servers are located in the NY4 and LD5 data centers in New York and London.Â
It’s also why the cTrader Raw account can offer spreads from 0.0 pips, with no requotes and no minimum order distance restrictions, and a commission of $6 per round turn, per lot, which is in line with the industry average. I am a big fan of cTrader and use it in my own personal trading. The one-click trade execution, strong liquidity, and fast speeds make it possible to trade at the price you want, even in fast-paced markets like after news events. I also like the built-in risk management tool, which helps you to position size trades in seconds directly from the chart.Â
tastyfx is part of the IG Group, which has been a heavyweight in the retail trading industry since 1974 and is a publicly traded company listed on the London Stock Exchange. Registered with the CFTC and a member of the NFA, tastyfx offers a strong regulatory framework, providing a safe and stable environment. Â
The broker is regarded as a top choice for scalping strategies as it provides spread rebates for high-volume traders. If you trade more than $100 million in notional value a month, you can access a 5% spread rebate. I also found that the margin rates are very competitive, with EUR/USD only requiring 2%, which is better than what is offered to traders outside of the US. This means you only need to put up 2% of the total trade value to open trade, which means that scalpers to take on more trades at any one time.Â
In our live fee test, I found the spread for EUR/USD averaged 0.8 pips, beating the industry average of 1.08 pips for a zero-commission account. However, the best account for scalpers will be the IG Zero+ Account. This has raw spreads from 0.0 pips and a commission of $5 per lot, which is slightly higher than the industry average.
Of the trading platforms available I found IG Web Trader, MT4, MT5 and ProRealTime all suitable for scalping strategies. The IG Web Trader platform has built-in trading signals on major currency pairs from third-party providers Autochartist. MT4, MT5 and ProRealTime offer one-click execution and algorithmic trading capabilities.
Choosing a broker for scalping is not the same as choosing one for other trading styles, such as swing- or long-term trading. The checklist of what the trader needs to succeed is vastly different. Here are a few tips on what to check for.
You may already know that as soon as you place a trade, it is instantly in the red by the size of the spread (the difference between the buy price and sell price). For scalpers trying to make a profit of 5 or 10 pips, this spread needs to be near zero.
Most standard accounts offered by brokers are commission-free, which means they incorporate extra fees in the spread. From our database of brokers’ live spread information, standard account spreads typically range from 1 pip to 1.2 pips on EUR/USD. This might sound low, but once you start placing 10 trades or more in a day, the costs quickly add up. The market also needs to travel further and beat the spread just to get you to break even.
See our guide for the Best forex brokers with lowest spreads.
This is why having a raw spread (aka zero spread or ECN) account type is crucial for scalping. These accounts will typically offer spreads direct from the broker’s liquidity providers and the interbank market of around 0.0 to 0.1 pips on EUR/USD with a fixed commission per lot, usually somewhere between $3 to $3.50 per side.
Check out our list of Best zero spread brokers.
For newbie traders, the commission per side, per lot may sound high compared to commission-free trading. After you run the numbers, most traders are very surprised. Think about it:
The commission-free account is nearly always the more expensive option. Scalpers need the most cost-effective option, which will be a Raw Spread or ECN account type. If the broker doesn’t offer you this, then stay away. From our list of best scalping brokers, Exness, IC Markets, FP Markets, and IronFX offer a form of Raw Spread/ECN trading accounts.
Having your trades executed in 100 milliseconds sounds very fast, but, in fact, quite slow when it comes to trading. A slight delay in execution may be okay for swing traders looking for very big moves, but for scalpers, it can result in slippage or a requote. This is where the market has moved so fast that your price is no longer available.
This means that trading around news events is nigh impossible – unless you have a broker that offers fast execution. This means choosing a broker that offers a NDD (No Dealing Desk) execution, or STP/ECN execution, as this involves your order going straight to the interbank market or broker’s liquidity providers without human intervention – this is also known as market execution. Dealing desk brokers offer instant execution and can and do reprice orders, slow execution during heightened volatility and in some cases, may trade against you.
We’ve also listed Best ECN brokers and Best STP brokers.
Our multiple live tests have revealed that the most optimal execution for scalpers should be less than 50 milliseconds. From our list of best scalping brokers, FxPro, Swissquote and IC Markets meet this criteria.
Find more options of Best brokers with fast execution in our dedicated guide.
Most traders don’t know that their broker may enforce a minimum “stop level.” This is the minimum distance from the current market price at which you’re allowed to place a stop loss or take profit order. If there is a stop level of 5 pips, this means you can’t place a stop-loss order, or take-profit order less than 5 pips away from the current market price. This isn’t ideal for scalpers who may be trying to target a 4 pip move.
I would check with the broker and in its terms and conditions that there are no minimum distance order requirements, as it could severely impact your ability for scalping. It’s important to check this before opening an account. It’s usually in
the contract specifications or legal terms and conditions. Some brokers, like IC Markets, go out of their way and advertise that they have no minimum distance order requirements.
Scalpers enter and exit the market many times a day, which means the platform needs to be fast and stable. One requirement to check for is that the platform offers one-click execution. If you have to confirm your orders via another pop-up box on your screen, you may have missed your entire trade.
Another useful feature is to look for Depth of Market (DoM), which shows you the volume of buy and sell orders at each price level. I like using this feature as it provides the ability to see where the large volume of orders is clustered. This can help to identify if the price will break through or bounce off certain price levels.
Platforms like cTrader and MT5 offer both features and are the go-to platforms for scalpers. I prefer the cTrader platform because of its built-in risk management calculator, which allows me to trade fast, yet safely. From our list of best scalping brokers, IC Markets, FxPro and FP Markets offer cTrader.
Explore the Best MetaTrader 5 brokers and Best cTrader brokers.
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.
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