Scalping is a high-volume Forex trading method that includes making many trades in a short period of time. Taking advantage of modest price swings in order to make a larger profit is the goal.
The scalping approach isn’t supported by all Forex brokers, so we’ve compiled a list of the top five that do support it while also offering top-notch trading conditions.
1. XM
Overview
There are more than 1000 financial items available for trading on the MT4 and MT5 platforms on the XM platform.
In less than a second, more than 99 percent of the company’s transactions are completed, and the company serves more than 2.5 million consumers who speak 30 different languages in 190 countries.
Pros and Cons
| Pros
Low minimum deposit Comprehensive educational offering Streamlined account opening process
|
Cons
Inactivity fee charged after 90 days on live accounts Limited product portfolio
|
Features
| Feature | Information |
| Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
| Minimum deposit from | $5 |
| Average spread from | 0.1 pips |
| Commissions from | $3.5 commission per $100 000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:30 |
| Bonuses | $30 Trading Bonus |
| Customer Support | 24/5 |
2. IFX Brokers
Overview
From 2018 to date, IFX Brokers, a South African broker, has assisted clients in making transactions on a range of financial markets. With transparent fee schedules and leverage of up to 1:500, the trading conditions at IFX Brokers are quite competitive in the industry.
Pros and Cons
| Pros
High leverage available MetaTrader 4 is supported. Resources for learning are available
|
Cons
Lax regulation |
Features
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | ZAR100 |
| Average spread from | 0,5 pips |
| Commissions from | NA |
| Deposit/Withdrawal Fees | NA |
| Maximum Leverage | 1:500 |
| Bonuses | NA |
| Customer Support | 24/5 |
3. Markets.com
Overview
MT4 and MT5 are two of Markets.com’s award-winning proprietary trading platforms, and all three of them are supported.
In addition to over 14 fundamental, technical, sentiment-based trading tools, and expert analysis, the multi-asset trading platform, Markets offers a comprehensive set of services to its clients.
Pros and Cons
| Pros
Commission-free trading Low minimum deposit Tight, fixed spreads Wide range of tradable assets
|
Cons
Customer support can be slow The best trading conditions are only available on the Pro Account |
Features
| Feature | Information |
| Regulation | CySEC, FCA, ASIC, FSC, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 1.9 pips |
| Commissions from | 1% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:300 |
| Bonuses | $25 No Deposit Bonus |
| Customer Support | 24/5 |
4. Tickmill
Overview
Tickmill’s exceptional reputation is largely owed to the broker’s highly regarded trading conditions, which include zero-pip spreads, no dealing desk execution, and acceptance of all trading styles, among other things.
Pros and Cons
| Pros | Cons |
| Competitive pricing
Well regulated High leverage Advanced trading software STP model |
Features
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.1 pips |
| Commissions from | 2 per side per 100,000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
5. Pepperstone
Overview
Traders in the forex and CFD markets can take advantage of Pepperstone’s competitive pricing, first-rate customer service, and extensive selection of third-party platforms.
Among the agency execution brokers, Pepperstone’s commission-based Razor Account stands out as the most competitive in terms of cost.
Pros and Cons
| Pros
No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits
|
Cons
Limited number of instruments No additional research tools
|
Features
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit from | AUD200 |
| Average spread from | 0.4 pips |
| Commissions from | $3.76 commission per lot per trade |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
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Scalping provides a profitable avenue for forex traders in the market. Knowing the best service providers should be your first consideration.
