The forex and CFD broker is regulated by trusted financial bodies, including the FCA, ASIC, CySEC and DFSA. That widened spread is not all about the New York session being closed and the very long spick is related to rollover time. In general, the worst time for scalping is either when themarket has low liquidity or it’s too volatile. Of course, Roboforex has better spreads if we eliminate the lot size factor in FXOpen. However, as I mentioned earlier, this kind of commission is when you trade larger lot size so for smaller size accounts, you’ll probably see around another 0.2 lots and pay something like 0.7 for this pair. Unfortunately, the largest time period that myfxbook offers is 2 days so we needed to keep an eye on the data every other day for one month.
Other brokers:
In its simplest form, scalping doesn’t wait to see how a trend develops – traders usually take profits or cut losses quickly by closing their position after the first wave. This strategy may involve monitoring the market for the entire day, but you can automate market monitoring with a forex broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
He expands his analysis to stock brokers, crypto exchanges, social and copy trading platforms, Contract For Difference (CFD) brokers, options brokers, futures brokers, and Fintech products. To have reliable data, we decided to study the spread + commission of our top forex brokers within a one-month period. That feature along with being regulated by the best regulatory bodies as well as very good execution speed makes this etoro broker review broker the best forex broker for scalping for large-size accounts. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades.
For example, if the price moves upwards as predicted, you could start by bringing your stop-loss up to break even, so at least you won’t lose anything on that trade. Then, if the trend continues strongly, you could also set your take-profit limit higher, move your stop-loss up again, and so on. So, even if you only risk $50 per trade, losses could also mount quickly if you don’t have an effective method.
Technical Tools for Scalping Traders
Scalping is a short-term strategy aimed at quick profits, reducing risk, and increasing success chances. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings.
- Our editorial and marketing teams operate independently, ensuring the accuracy and objectivity of our financial insights.
- IC Markets is our stand-out pick for trading futures CFDs, distinguished by its ultra-low latency, competitive tight spreads, and unique assortment of futures CFDs not commonly offered by retail-focused brokers.
- FXTM is a popular global broker with over 4 million registered accounts and 25+ awards.
- You should evaluate risks carefully and only use leverage that you feel confident handling.
- Based on our hands-on analysis, we’ve identified 7 best options tailored to various trading needs.
On top of this, 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 is fantastic. In our live fee test, I found the spread for EUR/USD averaged 0.8 pips, beating the industry average of 1.0 pips for a zero-commission account. The cTrader platform is a forex and algorithmic trading platform that has been designed specifically to support high-frequency, short-term scalping strategies and algorithmic strategies. Scalpers are in for a treat with IG’s array of robust trading platforms. L2 Dealer is tailored for seasoned traders, while popular platforms like MT4 and ProRealTime are also available.
– Top Choice For Fixed Spread Trading
The cTrader platform offers reduced spreads with a commission of $35 per $1 million traded. On the IC Markets MT4 Raw Spread account you can find raw spreads and a $7 commission per lot. The execution speed is also competitive, sitting at around 66ms on average. Unfortunately, not all brokers are the same, and in fact, not all brokers see this type of trading favourably.
Futures and Forex traders do not face it, leaving it up to individual brokers to set rules and regulations. With spreads being an average of 0.02 pips for the EUR/USD currency pair and an execution speed of 134 ms for limit orders IC Markets provides a good environment for scalping. A scalping platform is a special type of trading platform or software with fast execution so you can enter and exit a trade in a quick time. A good scalping platform may include automated tools since automation can action trades faster than humans.
As far as I wasn’t sure whether this feature works correctly, I had to double-check with the commissions mentioned on the websites of the brokers too. For example, if you open a trade with 1 lot on EUR/USD, you have to pay $6 as a commission. It’s a highly regulated broker with having two tier-1 regulations, ASIC and FCA.
These are all serious products that you wouldn’t often find at retail-focused brokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Admiral Markets
We also provide outstanding customer support 24/5; a wide choice of deposit and withdrawal methods; and trading and technical support. As with day trading, scalping strategies tend to involve looking for indicators that a currency pair price is moving. Unless you automate your trades, you will need to watch the market all day, which requires lots of time and concentration. However, you can open and close positions on the go using your smartphone or tablet with an app such as FXTM Trader. Being in the market a short time reduces your exposure to this uncertainty and to unexpected negative events too.
Since scalpers require liquidity and prefer volatility, scalping just before and after economic data announcements is one of the best times for Forex scalping. The first hour of the London trading session is another one, together with the first hour of the New York session, and the last hours of official trading in London and New York, respectively. It also depends on the currency pair, with Japanese yen traders showing activity during the first and last hour of the Tokyo trading day. Scalpers, as traders are known who use scalping as their preferred trading strategy, favor large trading volumes and minor price movements.
Trading with a broker that does not allow it will result in financial losses and other complications, which traders can avoid by reading the terms and conditions carefully and understanding them. The inclusion of 28 Smart Trader Tools and commission discounts for high-volume traders can also offer substantial benefits for many traders. IG offers a commission-based Forex Direct account for agency execution and connects price feeds from major liquidity providers. IG also offers a spread-only (commission-free) account for market-maker execution. It’s also worth noting that IG supports partial fills and auto-accepts active orders without manual intervention – important features for scalpers.
These orders get added to each instant execution (instead of manually adding them after bitbuy review executing – which we can easily forget), ensuring your risk management is consistently implemented. We like that Pepperstone offers additional Expert Advisors for free that enhance your MetaTrader 4 experience by adding much-needed account and trade management tools to the platform. This enables you to enter and exit trades quickly to capture small price movements and gain more profits. Trading is available with MetaTrader 4, MetaTrader 5, cTrader and TradingView.