Best Forex Trading Platforms For Scalping

The top forex brokers with great scalping software list is.

  • FP Markets - Best For Broker Scalping Overall
  • Pepperstone - Top Choice For Scalping With MT4
  • HF Markets - Great AI Trading Software For Scalping
  • FXCM - 3rd Party Scalping Apps With Trading Station
  • FxPro - Good Scalping Conditions With cTrader
  • FXTM - Highest Leverage For High Volume Trading
  • OANDA - Good Technical Analysis With TradingView
  • Ninja Trader - Scalping Indicator For Quick Gains
  • IC Markets - Ideal STP & ECN Trading For Scalping
Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
80 ASIC,CySEC
FSCA,FSA-S,FSC-M
1.1 1.3 1.3 0.10 0.20 0.20 $3.00 225ms $100 70+ 10+ 30:1 500:1 Visit Site
98 SCB, ASIC
FCA, CySEC
1.10 1.40 1.20 0.10 0.40 0.20 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
46 FCA, FSCA, CYSEC
DFSA,CMA,FSA
1.2 1.9 1.8 0.1 0.3 0.7 $3.00 $0 38+ 19+ Visit Site
61 FCA, FSCA
CySEC, SCB, FSCM
1.32 1.7 1.95 0.32 0.37 0.51 $3.50 151ms $0 69+ 30+ 30:1 200:1 Visit Site
72 ASIC, FSCA
FCA, CIRO
BaFin, ISA, CySEC
1.3 1.4 1.7 0.30 0.90 0.40 $3.00 150ms $300 42+ 7+ 30:1 500:1 Visit Site
62 FCA, FSCA, CySEC
FSCM, CMA
1.9 2 2 0.0 0.0 0.5 $2.00 160ms $500 63+ - 30:1 300:1 Visit Site
81 FCA, CIRO, ASIC
MAS, JFSA, FSC-BVI
KNF, NFA/CFTC, MFSA
0.6 0.9 0.7 - - - - - $0 70+ 4+ Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
 

What Is The Best Trading Platform For Scalping?

You should use trading platforms with specific features tailored to rapid, short-term trading.

The right platforms will have low latency, fast order execution, and tight spreads.

We have carefully reviewed the top-rated platforms for scalping and narrowed them down to the best nine.

1. FP Markets Best For Broker Scalping Overall

FP Markets

Forex Panel Score

80

Average Spread

EUR/USD = 1.1
GBP/USD = 1.3
AUD/USD = 1.3

Trading Platforms

MT4, MT5

Minimum Deposit

$100

Why We Recommend FP Markets

We like that FP Markets offers a wide range of Forex, cryptocurrencies, and commodities — this makes the platform suitable for almost all scalping strategies.

Overall, FP Markets is competitively priced, provides minimal slippage, and succeeds in creating an optimal environment for high-frequency trading.

Pros & Cons

  • Tight spreads
  • Fast execution
  • Over 33 account funding options
  • High leverage
  • No inactivity fee
  • Withdrawal fees
  • May requote prices and cause delays
  • Spread may widen during volatile market conditions
  • Lacks trading platform diversity

Broker Details

Metatrader 5 LogoMetaTrader 5

Available since 2009, MetaTrader 5 (MT5) is an upgrade of MT4. The platform offers the ability to trade a wider range of CFDs and has more advanced features and faster processing power than MT4. The London Summit Awards 2019 saw the platform earn two prestigious awards “Best FX trading platform” and “Best multi-asset trading platform”, a reflection of the excellence as a trading solution the platform offers.

London summit awards

Advantages Of MT5

MetaTrader 5 is a powerful all-in-one platform suitable for trading Forex pairs, Shares and Futures CFDs. The platform offers advanced technical analysis tools and features outstanding Expert Advisors and fast order capabilities designed for scalping.

MetaTrader5 tableMetaTrader 5 trading platform allows access to market liquidity pools and depth of market (DoM) visibility, which helps one avoid low-volume financial instruments (with little or no liquidity).

Regardless if you are a beginner or an advanced scalper, you will appreciate the following features MT5 offers:

  • 6 pending order types (MT4 has 4)
  • 21 Timeframe ranging from 1 minute to 1 month (MT4 has 9)
  • 38 Technical Indicators (MT4 has 30)
  • 44 Graphical objects (MT4 has 31)

Last but not least, MT5 offers built-in advanced reports for an effortless assessment of trading activity.

MT5 is the future if you wish to use a trading platform by MetaQuotes. In time, the MT5 community will grow, more brokers will offer the platform, and MT5 will supersede MT4.

Disadvantages Of MetaTrader 5

Scalping brokers offering MT5 implement the FIFO (first-in, first-out) accounting system. MetaTrader 5’s default setting applies the FIFO principle and, therefore, the platform does not allow Hedging. Expert Advisors and custom indicators built with MQL4 for use in MT4 cannot be used in this state in MT5. Or, they need to be coded once again with the MQL5 programming language.
FPMarkets Logo

FP Markets

The Best MT5 Forex Broker For Scalping

best trading platform for scalping 2024Our review believes FP Markets is one of the best Forex brokers for Forex scalping on the MT5 trading platform. This is based on:

  • Tight spreads, including some of the lowest in the industry (average EUR/USD spread of 1.1 pips)
  • Ability to trade directly from the Depth of Market (DOM)
  • ECN trading conditions
  • Tier-1 regulatory licenses (ASIC and CySEC)
  • Fast execution speed of 96ms
Pros
  • Tight EUR/USD spreads
  • ECN-like execution model
  • Top tier liquidity pools
Cons
  • FP Markets' trading app limited
  • Must use IRESS to trade all shares
  • Educational materials could improve

1)Low Spreads And Costs

FP Markets can offer tight spreads as they source prices from multiple tier-one liquidity providers. This allows Forex traders who employ scalping to take advantage of spreads starting from 0.0 pips using the FP Markets Raw Spread account. The RAW spread accounts average spread on major currency pairs such as EUR/USD of 0.1 pips most of the time, which is one of the best available from brokers worldwide.

Below are the spreads of the range of Forex brokers who advertise their average spread on their website. This table is updated monthly.

FP Markets Raw Account Spreads
0.10 0.20 0.30 0.30 1.40
0.20 0.20 0.40 0.50 1.50
0.44 0.42 0.40 0.85 1.30
0.17 0.30 0.54 0.59 N/A
0.20 0.40 0.50 0.60 10.00
0.10 0.50 0.60 0.60 1.30
n/a 0.50 0.60 0.20 3.10
0.44 1.23 1.13 1.08 1.85

Avg. spreads are taken from each broker's website and updated monthly. Last update on 02/01/2024

Commissions when trading with FP Markets is $3.00 side / $6.00 round turn. These commissions are in line with commission charges from other brokers making them suitable for high-volume traders. Scalpers can place orders between the spread due to no minimum order distance and a freeze level of 0. All orders, including Stop-Loss orders, can be placed at any distance from the current market price.

2) ECN Trading Environment

FP Markets’ raw pricing along with a MetaTrader server located in the Equinix NY data centre gives STP / ECN style trading conditions. The main advantage of brokers that use STP / ECN style conditions can be summarized by low latency and minimized probability for slippage, no dealing desk, no re-quotes, and fast order execution.

MetaTrader 5 offers Depth of Market, which allows traders to visualize the entire range of available prices derived directly from its liquidity providers. This ensures complete transparency of all liquidity for any currency at any moment.

fp markets mt5 scalping

3) Strong Forex Regulation

FP Markets complies with strict regulatory standards by some of the most reputable Forex authorities worldwide. FP Markets is regulated in Australia by the Australian Securities and Investments Commission (ASIC) and in Europe by the Cyprus Securities and Exchange Commission (CySEC).

Raw Spreads + Fast Speed + Reduced Slippage = FP Markets MT5

Summary Of Why FP Markets Is The Best MetaTrader 5 Broker For Scalping

Overall, The MetaTrader 5 platform powered by FP Markets is an excellent choice for scalpers. The broker has a low minimum deposit requirement ($100) and allows the use of leverage (maximum leverage for Forex is 30:1 in Australia, the UK, and Europe). Traders also have the option to practice scalping in good conditions on the free Best Demo Trading Platform with no risk or restrictions on scalping strategies.

2. Pepperstone Top Choice For Scalping With MT4

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 1.12
GBP/USD = 1.69
AUD/USD = 1.22

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$0

Why We Recommend Pepperstone

After carefully reviewing Pepperstone, we think it’s a great choice for scalping.

Not only does this platform have an ECN pricing model and access to a vast network of top-tier liquidity providers, but it also has remarkably narrow spreads.

The average spread on major pairs such as EUR/USD is just 1.12 pips.

Pros & Cons

  • Inclusion of 28 Smart Trader Tools for MT4
  • Commission discounts for high-volume traders
  • No inactivity fee
  • Extremely narrow average spreads
  • Higher leverage comes with greater risks
  • Potential for occasional slippage
  • Lacks specialist risk management tools
  • Withdrawal fees

Broker Details

MetaTrader 4 Logo

MetaTrader 4

MetaTrader 4 (MT4) is comfortably the most widely adopted forex trading platform by both brokers and traders worldwide. Produced by MetaQuotes and launched in 2005, is one of the first readily available mainstream trading platforms licensed to forex brokers and available to traders for free. CFD Brokers that offer the platform include Pepperstone, FP Markets, FxPro, ThinkMarkets, FXTM, and Oanda.

Advantages Of MetaTrader 4

MetaTrader 4 is an easily customizable trading platform that features live quotes, real-time charts, in-depth news and analytics, a variety of technical indicators, and order management tools, and it has good Expert Advisor compatibility.

Many consider MT4 to be the “gold” standard among all trading platforms. The platform’s popularity can be attributed to several reasons, including:MT4 Advantages for Scalping

  • ‘Ease of use’: MT4 offers a clean and uncluttered interface that makes it easy to access information, open and close trades change colors and settings with minimum difficulty
  • Wide Compatibility: MT4 can be used with Mac, iOS, Windows, and even Linux making them great for desktop, mobile, and tablets
  • Flexibility: The standout feature that set MT4 apart from its competitors when launched is the ability to create custom indicators and Expert Advisors (Best Algorithmic Trading Software), change layouts, implement technical indicators
  • Feature-rich: 31 analytical objects, 30 in-built technical indicators, 9 timeframes, multi-chart features, 4 order types, interactive charts
  • MQL4 Language: MQL4 means advanced traders can write their strategies. There is also a sizeable MT4 community where traders can share or buy other scripts. Over 3200 signals are available both free and paid.
  • Backtesting: MT4 supports backtesting so you can test your scripts before placing them into action.

At its core, MT4 is an intuitive and simple platform with all the necessary tools for trading, which makes it a great platform for beginner traders but also comes with the ability to integrate more advanced features for experienced traders.

Disadvantages Of MetaTrader 4

MQL may be considered the ‘gold standard’ for trading platforms however it does have some disadvantages.

  • MQL offers 32-bit processing, which may lead to slightly slower performance than 64-bit systems.
  • MQL4 programming language is not considered the best choice of language
  • MetaQuotes discontinued issuing MT4 licenses to new brokerages from 2018 onwards, new CFD and Forex brokers will not be able to offer this platform to their clients.
  • MetaQuotes have ceased new development MT4 so MT4 will eventually be outdated
  • It is not designed for exchange-traded CFDs such as shares. So some range of markets are not as diverse as other platforms.

Last but not least, the platform has a limited Depth of Market features.
Pepperstone Logo

Pepperstone

The Best MT4 Broker For Scalping

Based on our reviews, Pepperstone offers the best conditions for scalping strategies on its MetaTrader 4 platform, because it has the following:

YouTube video
  • ECN pricing model and vast network of top-tier liquidity providers
  • Tight spreads, with the average spread on major pairs such as EUR/USD being 1.12 pips
  • Lightning-fast order execution speed, with trades being filled in less than 77 ms
  • 28 additional Smart Trader Tools for MT4, allowing for more precise implementation of strategies
  • Commission discounts (rebates) for high-volume traders
  • Leverage of 30:1 in the UK, Europe, and Australia to access the Forex market
  • Strong Forex regulation – ASIC, FCA, CySEC and BaFin

With low costs and fast execution speeds, Pepperstone is a great broker to use MetaTrader 4.

1)Low Standard Account Spreads

As an STP/ECN style broker, Pepperstone offers no dealing desk order execution with low latency and low risk of slippage. Additionally, Forex spreads remain ultra-low on the broker’s Razor trading account, starting from 0.0 pips, while the company also offers low average spreads on its entire CFD product list.

Pepperstone MT4 Spread Comparison
0.20 1.00 0.40 0.60 0.10
0.20 0.50 0.20 0.30 0.10
0.20 N/A 0.20 0.30 0.20
0.42 0.30 0.20 0.83 0.44
0.30 0.68 0.24 N/A 0.17
0.40 0.70 0.30 0.70 0.20
0.50 0.80 0.30 1.10 0.10
0.50 0.40 n/a 0.30 n/a
1.23 1.23 0.77 1.41 0.44

Avg. spreads are taken from each broker's website and updated monthly. Last update on 02/01/2024

Compare MT4 Brokers

In exchange for ECN-style trading conditions, Pepperstone will charge a small commission of $3.76 per side for 1 Standard Lot traded on its MetaTrader 4 platform.

Due to its co-location servers in key financial data centres and fibre-optic cable networks, Pepperstone ensures exceptional execution speeds. According to the broker, most trade orders by UK clients are filled in less than 60 ms, while the majority of orders by clients from Australia – in less than 30 ms.

.

2)Copy Trading Feature

Pepperstone offers copy trading features through 3 dedicated third-party platforms Myfxbook, MetaTrader Signals, and DupliTrade. The software solution for social trading offered by Pepperstone works seamlessly with the MT4 platform.

Myfxbook’s key strength is the verified track record, MetaTrader Signals offers thousands of trading signals, while DupliTrade offers signals from professional traders and has a minimum deposit requirement of USD 5,000.

Interbank Spreads + ECN model + Fast Speed + Copy Trading Features = Pepperstone MT4 Solution.

Summary Of Why Pepperstone Is The Best MetaTrader 4 Scalping Broker

Overall, our team of experts considers Pepperstone as the best scalping broker with the MetaTrader 4 platform. With a true ECN pricing model, spreads starting from 0.0 pips, a USD 3.5 commission rate, fast execution, and a copy trading feature, Pepperstone’s MT4 solution is the best if scalping is your preferred strategy. The broker was also listed first on the best forex trading platforms list.

Pepperstone doesn’t enforce any minimum deposit requirements. Feel free to click the button below and test their MetaTrader 4 platform today.

3. HFM (Formerly HotForex) Great AI Trading Software For Scalping

HFM (Formerly HotForex)

Forex Panel Score

50

Average Spread

EUR/USD = 1.2
GBP/USD = 1.9
AUD/USD = 1.8

Trading Platforms

MT4, MT5

Minimum Deposit

$100

Why We Recommend HFM

Our team carried out a full test of HFM (Formerly HotForex) — we found it to be a highly reliable and efficient broker for scalping. We found their cent account interesting as not many brokers offer this type of account.

HFM (Formerly HotForex) is equipped with advanced trading technology. This will provide you with low latency and high liquidity — two things necessary for successful scalping. Trading is available via MetaTrader 4, and MetaTrader 5 along with their proprietary platform called HFM Platform. We recommend scalpers use Expert Advisors for automation.

Pros & Cons

  • Low spreads
  • Educational resources
  • Multiple trading platforms
  • Fast execution
  • Few account currencies
  • Customer support closed on weekends
  • Account features dependent on your location
  • Account availability dependent on your location

Broker Details

Web Terminal Logo

MT4 Web Trader

The MetaTrader 4 web trader is a leading web-based software solution that provides access to the global markets straight from your browser. The web platform is supported across all operating systems (Windows, MAC and Linux) and is compatible with any browser. The MetaTrader 4 Web platform is integrated with most MT4 FX brokers.

Advantages Of MT4 Web Trader

Trading is more accessible via your browser, as it requires no additional software installation or downloads on your local computer. The MT4 web terminal is similar to the desktop version and includes the same trading tools and features. Scalping efficiently via the web application can be done effortlessly.

The MT4 web terminal main key advantages and benefits include:

  • HotForex Mt4 WebOne-click trading feature for faster execution and no secondary confirmation
  • Ability to view all trading activity at a glance without switching between multiple windows
  • Trading directly from the charts and modifying active orders via the drag-and-drop tool
  • 30 industry-leading technical indicators
  • Ensures the security of your data via encrypted transmission
  • Account order history

Additionally, the MT4 web trader supports Expert Advisors (EAs) and scripts with the same performance as the desktop version.

Disadvantages Of MT4 Web Trader

Some people consider the Web Trader pay layout to be a bit of data. The most common issues faced while running the MetaTrader 4 web platform include:

  • Page layout is sometimes considered dated
  • Not as many indicators and graphical tools (compared to the desktop version)
  • Cannot use expert advisors with Web Trader
  • Less customization, interface settings cannot be changed

Hotforex Logo

HotForex

Big Data Al Sentiment Trading Scalping Software – MT4 Web Trader

Based on our reviews, HotForex offers the best sentiment analysis tools for scalpers. We consider that the brokerage offers good trading conditions for scalping based on:HF Markets Group

  • Hedging is allowed hand-in-hand with scalping
  • Interbank spreads with no markups (1.2 pips EUR/USD average spread)
  • Dedicated 24/5 market analysis from in-house experts
  • Free VPS hosting compatible with all automated strategies, including scalping EAs
  • Premium trading tools tailored for scalping (Market Manager for fast order submission and sentiment trader updated every second)
  • Maximum leverage of up to 1:1000

1)AI Sentiment Trading Tool

The challenges that come with scalping in fast-moving markets can be met with the right trading tools. HotForex is equipped with proprietary trading tools that can’t be found anywhere else, like the Sentiment Trader tool. This tool uses artificial intelligence (AI) to measure in real-time the market sentiment dynamics. The order flows (buy and sell ratios) are tracked using data from leading provider FX Blue Labs.

The key features and advantages offered by the Sentiment Trader tool are summarized below:

  • Sentiment analysis is based on real-time and historic buy-and-sell orders
  • Updates every minute to stay ahead of the curve
  • Ability to see what smart money is doing and copy their lead
  • Unique dashboard where you can track multiple symbols at the same time
  • The sentiment can be displayed on the price chart
  • Flexibility to display sentiment in multiple formats: gauge, pie chart, dial

Forex Sentiment Analysis Scalpers

The sentiment information can be used for a better reading of short-term price fluctuations. To the astute scalper, sentiment analysis can be used as a confirmation tool to buy and sell currencies and CFDs. Additionally, the orders can be opened and closed directly from the Sentiment Trader window without the need to go elsewhere.

2)Superior Trading Conditions

HotForex clients can choose between 4 different trading account types (Premium, Zero Spread, HFCopy and Premium Pro), trade with variable spreads, minimum trade size of 1,000 units of the base currency, quotation system using the fifth decimal and telephone trading.

HotForex Account Types

In terms of tradable instruments, scalpers are allowed to trade CFDs (Contracts for Difference) on 8 different financial markets (forex, cryptocurrencies, metals, indices, shares, crypto, energies, commodities and bonds). The large number of financial instruments the broker offers means more trading opportunities for scalpers.

Institutional Tools + MT4 Web Trader + 8 Trading Markets = HotForex

Summary Of Why HotForex Has The Best Scalping Sentiment Tools

Overall, HotForex’s trading tools can be used as a personal trading assistant, providing you with highly accurate AI technology. At HotForex, scalpers can enjoy better tools, hedging and non-hedging modes, better information, a good selection of instruments and a range of account types. The minimum deposit to open an account is USD 0, and you can also use their demo account.

4. FXCM 3rd Party Scalping Apps With Trading Station

FXCM

Forex Panel Score

72

Average Spread

EUR/USD = 1.3
GBP/USD = 1.4
AUD/USD = 1.7

Trading Platforms

MT4, TradingView, Trading Station, Capitalise.ai

Minimum Deposit

$300

Why We Recommend FXCM

If you want a deep analysis of your current trading strategies, we highly suggest using FXCM.

The very sophisticated Trading Station contains a wealth of 3rd party apps you can use to monitor your trading activity and creates advanced data and analytics reports to help you improve your knowledge and skills.

Pros & Cons

  • Excellent customer service
  • Low spreads
  • A wide range of currency pairs
  • Liquidity and monthly slippage statistics
  • High minimum deposit
  • Few trading
  • Inactivity fee
  • Limited range of instruments

Broker Details

FXCM Logo

FXCM

Trading Station is FXCM’s proprietary CFD and Forex trading platform, which has an intuitive user interface, offers advanced trading analytics and comes in three versions: web-based, mobile-based and desktop.

Advantages Of Trading Station

First of all, the platform offers good chart customizability, with traders being able to expand to full-screen or detach charts, use numerous chart formats and time frames, set up price alerts, and compare financial instruments with price overlays among other options.

Second, Trading Station Desktop allows for the use of automated trading strategies, along with advanced strategy backtesting and strategy optimization tools.

Advantages of Scalping

Third, Trading Station Desktop offers additional advanced technical indicators such as the Speculative Sentiment Index (SSI) and Real Volume, which provide strategy support with real market sentiment. Last but not least, the Trading Station has market depth functionality, which visualizes multiple levels of liquidity at every price level for every trading instrument.

Disadvantages Of Trading Station

  1. Trading Station Desktop does not allow for the setting of price alerts or notifications.
  2. Second, Forex and CFD products are quite limited compared to FXCM’s competitors, with the platform allowing access to 39 currency pairs, 7 Cryptocurrencies, 14 Stock Index CFDs, 15 Shares CFDs and 10 Commodity CFDs.

FXCM Is The Best Broker For Scalping With Price Improvement

Based on our reviews, FXCM turns out to be the best scalping Forex broker when it comes to execution with zero slippage or price improvement, because:

  • Scalping Slippage59.79% of all trade orders were executed with no slippage, according to data encompassing the first six months of 2020
  • 28.90% of all trade orders were executed with price improvement (positive slippage)
  • The average order execution speed was 28 ms, while Good Till Cancelled Market Orders were filled in 29 ms
  • It has managed to ensure better pricing for retail clients, according to a recent execution study. FXCM pricing was equal to or better than the spot equivalent quoted Interbank market price 94.84% of the time. The broker’s pricing was equal to or better than the spot equivalent quoted futures prices on the CME 81.34% of the time.
  • It has provided high-volume active traders with ultra-tight spreads on major currency pairs during peak hours – 0.3 pips on average on EUR/USD and 0.4 pips on average on AUD/USD
  • Zero-commission trading, with the only fee being built into the spread

1)FXCM Price Improvement Technology

Over the years, FXCM has remained dedicated to ensuring the best trading experience for its clients by increasing the quality of its pricing, transparency and execution services. And the broker’s latest slippage statistics indicate rather favourable conditions for scalpers. Data for the first half of 2020 showed that:

  • 28.90% of all stop, limit, ‘at market’, and entry orders at FXCM were filled with positive slippage, or clients received a better price than requested,
  • 74.18% of all limit and limit entry orders at FXCM were filled with positive slippage.

Scalping Price Improvement

The broker’s statistics also suggested that limit and limit entry orders are most likely to be filled with positive slippage, while stop and stop entry orders are most likely to be filled with negative slippage.

2) Zero Commission Share Trading

Not only does FXCM have no commission on popular CFDs like forex and Equities, but with FXCM, scalpers can enjoy a 0% commission on share trading.  FXCM is the latest CFD provider to offer no-commission trading on stocks and fractional shares. FXCM is only compensated through charging the spread, which is marked up above the Interbank spread.

28ms Speed + 28.90% of Orders Receive Positive Slippage + 0.2pips EUR/USD Spread = FXCM Trading Station

FXCM Best Broker For Scalping With Price Improvement

Overall, FXCM’s price improvement technology can help scalpers receive better prices, less slippage and no-requotes. Scalpers can have an edge in highly volatile markets due to the low-cost pricing and possible benefit from better quotes 94.84% of the time. The minimum deposit for FXCM clients is USD 50, but traders can always open a demo account to enjoy risk-free trading.

5. FxPro Good Scalping Conditions With cTrader

FxPro

Forex Panel Score

61

Average Spread

EUR/USD = 1.32
GBP/USD = 1.7
AUD/USD = 1.95

Trading Platforms

MT4, MT5, cTrader, FxPro Trading Platform

Minimum Deposit

$100

Why We Recommend FxPro

FxPro stands out to us as a top cTrader broker, offering a variety of instruments and account options. You can also trade with MetaTrader 4, MetaTrader 5 and FxPro Trading Platform.

What we like the most about FxPro is the cTrader platform. It provides lightning-fast execution and tight spreads. And, if you use the FxPro Trading Platform, you can trade 10 currency pairs using fixed spreads and instant execution.

Pros & Cons

  • A diverse range of instruments
  • Tight spreads
  • Fixed spread available
  • Excellent customer support
  • Could be more competitively priced
  • Limited currency pairs
  • High trading fees for stock CFDs
  • Inactivity fee

Broker Details

cTrader Logo

cTrader

Released in 2011 by Spotware, cTrader was built specifically to meet the needs of ‘no dealing desk’ brokers who offer Electronic Communication Network (ECN), Straight-Through-Processing (STP) and Direct Market Access (DMA). A newcomer to the world of online trading, cTrader is a platform that grants access to the best available bids and asks prices for traders looking for more comprehensive market analysis tools and greater transparency. cTrader can be integrated with over 45 leading applications and a suite of leading add-ons.

cTrader Add-ons

Advantages Of cTrader

cTrader has 3 main strengths:

  • Pricing transparent through Depth of Market
  • Direct execution means fast processing
  • and chart features that stand out compared to other platforms

Pepperstone, IC Markets and FxPro have been long-time providers of the MT5 platform.

One of the strengths of cTrader is market transparency through Level II pricing depth of market (DOM). The DOM allows market data to be visualized in three possible ways (Standard Depth of Market, Price Depth of Market and Volume-Weighted Average Price (VWAP) Depth of Market). In comparison, MetaTrader software is designed to visualize only one type of Depth of Market.

Interface And Charts

Many traders enjoy cTrader’s clean interface, which is sleek and modern. Charts, for example, have a range of colours and choices of light and dark themes so you can customize them to your liking. The charts have a large charting area and can also be detached, which means you can move charts onto a different monitor.

Note* cTrader offers more indicators and timeframes than many other platforms offer.

Order Types

When it comes to Order types, cTrader has 4 order types available. These order types are Market Orders, Limit Orders, Stop Orders and Market Range Orders. All offer OCO protection, with limit and stop orders also offering expiry.  One interesting feature is the ability to place a pending order, even if the market has closed for the day.

If you are looking for an alternate platform to MetaTrader that has great charting features and Level II pricing with a fast execution option, then your cTrader is a solid option.

Forex Order Types

Disadvantages Of cTrader

There are not many downsides associated with cTrader. As a possible disadvantage, we can mention the limited selection of available trading robots and custom indicators compared to MetaTrader software, as a different programming language is used (C#). The majority of retail Forex developers employ MQL4 and MQL5.
FXPro Logo

FxPro

The Best Broker With cTrader For Scalping

Our review has concluded that FxPro is one of the best Forex brokers when it comes to scalping strategies by using the cTrader software, based on:

  • It ensures no dealing desk (NDD) order execution with no re-quotescTrader Platform Scalping
  • Trade orders executed in 138 ms on average
  • Scalping on 4 supported financial markets (Forex, metals, indices and energies)
  • Up to 7,000 orders are processed each second
  • With FxPro cTrader’s Smart Order Routing, scalpers trading CFDs will receive the best available price in 100% of the cases, while their orders will be executed automatically in 99.9% of the cases
  • FxPro is a multi-regulated Forex broker – by the FCA in the UK and by the CySEC in the EU

FxPro No Dealing Desk Execution

FxPro operates a no-dealing desk NDD agency model that supports superior trading conditions for day traders and scalpers. By operating an NDD model, FxPro can offer unrestricted access and instant execution of a wide range of orders. Scalping is usually performed via flawless order execution, which is an essential component of a scalping trading strategy.

FxPro is not a true ECN broker or an STP broker, it advertises itself as filling clients’ orders with true NDD execution. However, the price execution engine that powers FxPro’s cTrader can deliver institutional trading conditions that are compatible with scalpers.

FxPro supports profitable trading based on:Scalping Price Improvement

  • Ultra-low latency with scalping orders being executed on average in less than 11.06ms
  • Full price transparency – 82% of orders are executed at the requested price
  • 9% of all orders received price improvements with positive slippage
  • Only a small portion of 0.68% of orders have received a requote
  • Liquidity aggregated from multiple Tier-1 banks
  • Order rooting via FxPro’s price engine Quotix
  • Collocated servers in the hearth of Equinix Data centres (LD5 London or Amsterdam)

FxPro No dealing Desk

 “99.32% No Requotes + 9% Positive Slippage + 11.06ms Order speed = cTrader”

Summary Of Why FxPro Is Among The Best Scalping Forex Brokers With cTrader

Among scalping brokers, FxPro is the go-to solution for trading on the cTrader platform. FxPro reputation among scalping brokers is a combination of low spread, fast order execution and no requotes. FxPro offers retail investor accounts with a minimum deposit of USD 100.

6. FXTM Highest Leverage For High Volume Trading

FXTM

Forex Panel Score

62

Average Spread

EUR/USD = 1.9
GBP/USD = 2
AUD/USD = 2

Trading Platforms

MT4, MT5

Minimum Deposit

$10

Why We Recommend FXTM

We were impressed by FXTM’s high leverage ratios. A high leverage is ideal for scalping
as it allows you to control larger positions with a smaller amount of capital, therefore amplifying potential profits from small price movements.

Pros & Cons

  • Educational resources
  • 30+ languages supported
  • A diverse range of instruments
  • Tight spreads
  • Fast execution speeds
  • FXTM Trader is not available on all accounts
  • Does not support cryptocurrencies
  • Inactivity fee
  • Withdrawal fee

Broker Details

FXTM Logo

FXTM Trader

FXTM Trader is FXTM’s brand-new forex trading app, which is meant to revolutionize clients’ mobile trading experience. With this app traders can buy and sell currencies in a matter of seconds, access real-time Foreign Exchange rates and manage their trading accounts while on the go.

Advantages Of FXTM Trader

First, the platform allows access to over 250 trading instruments – from Forex pairs to complex instruments (CFDs) on Shares, Stock Indices and Commodities. This investment app built by FXTM experts welcomes scalpers on its platform. The key features and trading tools that come with FXTM Trader include:

  • Scalping 1-click trading Clients can manage their trading accounts and trading activity from the same app
  • The platform’s interface allows for opening, closing and modifying of positions in a matter of seconds.
  • Enables one-click trading at your fingertips for even faster opening and closing trades
  • Traders can enjoy state-of-the-art charting tools and popular technical indicators
  • Clients can trade across multiple devices – they can enter a trade on their desktop terminal and exit directly from the app

Disadvantages Of FXTM Trader

First, FXTM Trader is available only on some of FXTM’s account types. It cannot be used as a trading option on the broker’s MT5 and FXTM Invest accounts. Additionally, the platform does not allow price alert setting, has only a one-step login, and traders cannot access Cryptocurrencies on this platform.

FXTM Offers The Highest Leverage Ratios For Scalping

Our review has concluded that FXTM is among the Forex brokers that offer the highest leverage ratios – a key factor for traders who employ scalping. To gain access to FXTM’s high leverage, you are required to sign up with the broker’s offshore branch regulated by the Financial Services Commission (FSC) of Mauritius. What makes this brokerage attractive for scalpers can be summarized as follows:

  • Leverage ScalpingFXTM allows leverage ratios of up to 1:1000 on major FX pairs like EUR/USD, GBP/USD or AUD/USD
  • FXTM offers tight Forex spreads starting from 0.1 pips on its ECN account
  • Almost 96% of FXTM clients’ orders received better pricing through positive slippage, according to Nov 2020 data
  • FXTM’s re-quote rate has remained at extremely competitive lows – around 4% of total orders, according to Nov 2020 data
  • FXTM clients received exceptional order execution speeds on the broker’s ECN account (0.079 seconds) and ECN Zero account (0.089 seconds), according to Nov 2020 data
  • FXTM is a multi-regulated broker – CySEC, FCA, FSCA

1) FXTM Maximum Leverage

When it comes to maximum leverage allowed, UK and EU-based retail clients will be offered significantly lower ratios, in line with the local regulatory framework – 1:30 on major currency pairs; 1:20 on minors, exotics and Spot Metals; 1:5 on the majority of Stock Indices and on all Shares CFDs; 1:10 on Energies. This is similar to Australian high leverage brokers which also are capped by ASIC at 30:1 for retail traders. Yet, if you sign up to FXTM’s offshore entity regulated by the FSC you can access leverage ratios of up to 1:1000.

Due to FXTM’s vast pool of top-tier liquidity providers, Forex spreads are kept tight (starting from 0.5 pips on AUD/USD, 0.4 pips on EUR/JPY, 5.0 points on Spot Gold), while requote rates have remained at competitive lows.

Forex Requotes

Along with high maximum leverage and low minimum spreads, FXTM clients who employ scalping strategies can take advantage of lightning-fast execution speeds on all ECN accounts.

2) Connect MT4 With FXTM Trader

The unique feature is the interconnectivity between the trading app and MetaTrader 4. FXTM trading software was built with flexibility so traders can buy and sell currency on the MT4 desktop and then have the option to close it via the FXTM Trader app and vice versa. In practice, the FXTM Trader should allow scalpers to move in and out of the market faster.

One-Click Trading + 1:1000 Leverage + ECN Account = FXTM Trader

Summary Of Why FXTM Is The Highest Leverage Broker For Scalping

The best all-around FXTM is hands down the best high-leverage broker that supports scalping. With this broker, scalpers can tap into 1:1000 maximum leverage, positive slippage, no-requotes and minimum deposit as low as USD 10 (Standard Cent Account).

7. OANDA Good Technical Analysis With TradingView

OANDA

Forex Panel Score

81

Average Spread

EUR/USD = 0.6
GBP/USD = 0.9
AUD/USD = 0.7

Trading Platforms

MT4, TradingView, OANDA Trade

Minimum Deposit

$0

Why We Recommend OANDA

In our opinion, OANDA is the best platform for charting and trading as it provides access to TradingView.

Charting and trading help identify short-term price movements, enabling you to make better trading choices, and ultimately increasing your chances of making profits.

Pros & Cons

  • Wide range of instruments
  • Well Trusted
  • Regulated by FCA
  • TradingView
  • No minimum deposit
  • Limited single-stock CFDs
  • Hidden fees
  • Customer service can be slow
  • Few cryptocurrencies

Broker Details

TradingView Logo

TradingView

TradingView is the largest network of traders and investors on the internet, which enables them to exchange ideas, learn new tricks, or simply make use of its free Forex charting trading software. TradingView charts have been integrated with over 8,000 stock and futures exchanges and websites across the globe.

Advantages Of TradingView

First of all, the platform features 11 customizable chart types, including Candlesticks, Renko, Heikin-Ashi or Point & Figure, traders can view up to 8 charts in a single layout at one time and traders have access to data from over 50 exchanges.

TradingView offers a variety of time frames, with intervals ranging from 5 seconds to 1 month as well as customizable time frames which come with the paid version.

TradingView Browser Platform

Additionally, the platform features over 50 drawing tools, including Elliott Waves, Andrew’s Pitchfork, and Gann Fans among others, and over 65 technical indicators, including moving averages, Stochastics, Bollinger Bands, MACD, Ichimoku Cloud among others.

More, traders have access to real-time news from Yahoo Finance access Economic and Corporate Earnings Calendars and make a side-by-side comparison of trading instruments.

Disadvantages Of TradingView

Premium subscription packages tend to be a bit costly and the platform’s news feed system needs further improvement – for example, sorting news headlines based on popularity or relevance.
OANDA Logo

Oanda

The Best Web Trading Platform For Scalpers That Offers TradingView

Our review has concluded that Oanda has the best web-based trading platform for scalping, based on:Advanced Charts - powered by TradingView

  • Best dealing desk environment with variable spreads
  • Variable spreads starting from 0.6 pips on EUR/USD
  • Industry-leading research tools, market analysis and news coverage
  • Strong reputation – one of the oldest brokerages in the FX space founded in 1996
  • Fast order execution speed of 12ms
  • Good selection of FX pairs +70
  • Supports algorithmic trading with the built-in Pine programming language

Although OANDA allows scalping, we should note that it is not an ECN broker, but a market maker. This puts the no-dealing desk execution of orders in question. In other words, CFD and Forex traders may face some kind of price manipulation, something that is completely out of the question with true ECN brokers.

OANDA’s Web Trader, which utilizes advanced TradingView charting, is a quite responsive platform, offering a decent order execution speed (0.012 seconds) – one of the key factors for successful scalping. However, in times of extreme market volatility, Forex traders may face slippage.

OANDA is a multi-regulated broker in six tier-1 jurisdictions, as it complies with regulatory standards by Australia’s ASIC, Canada’s IIROC and the UK’s Financial Conduct Authority (FCA).

Variable Spreads + Reputation + Advance Web Platform = Oanda

Summary Of Why Oanda Offers The Best Web Platform For Scalpers

Overall, Oanda is a trusted firm that allows its clients to scalp the financial markets with the powerful charting solution TradingView. It’s secure and safe to trade with Oanda, but there is certainly some room for providing a better service in terms of spreads during news releases and slippage. There are no minimum requirements to open an account with Oanda.

8. Ninja Trader Scalping Indicator For Quick Gains

Ninja Trader

Forex Panel Score

65

Average Spread

N/A

Trading Platforms

NinjaTrader

Minimum Deposit

$0

Why We Recommend Ninja Trader

Our tests show that Ninja Trader generates charting, market analysis, and live trading data with ninja-like speeds.

We also like that its interface can be customised to different tastes and preferences.

Pros & Cons

  • Low trading fees
  • Educational materials
  • Fast speeds
  • Tight spreads
  • Withdrawal fees
  • Inactivity fee
  • Only accessible via desktop
  • Limited assets

Broker Details

NinjaTrader Logo

Ninja Trader

NinjaTrader offers US forex traders a powerful suite of award-winning charting software solutions and trading tools. Supporting all types of trading strategies including scalping, NinjaTrader’s state-of-the-art technology is designed to satisfy the unique needs of scalpers. As an award-winning Forex trading platform, NinjaTrader has the recognition of the Forex community.

Advantages Of NinjaTrader

NinjaTrader interface helps scalpers visualize the world’s leading markets without any interruptions. Additionally, the advanced technical analysis tools, fast order types, simulation and backtesting offer scalpers the best trading conditions for success. Tools like the Quantum Tick Speedometer can help scalpers make fast informed decisions through an optimized tick chart.

Traders can buy and sell currencies directly from the DOM window or right from the chart. And, with the advanced trade management solution, scalpers can better deal with fast-moving markets.

NinjaTrader Trading Tools

Last but not least, the NinjaTrader automated solution offers either point-and-click strategy development (for non-programmers) or multi-paradigm programming language C-sharp for advanced programmers.

Disadvantages Of NinjaTrader

Some key cons of the US-based trading platform are the steep learning curve, limited supported forex brokers, and the software package coming at a high fee. However, there are daily live training sessions where you can learn more about the trading platform or industry-leading support where you can connect with NinjaTrader experts and ask more questions.

NinjaTrader Supported Brokers

There are only 8 NinjaTrader-supported brokers with the biggest names offering the being platform Interactive Brokers, TD Ameritrade, City Index and Forex.com. Traders can acquire a NinjaTrader lifetime license for USD 1,099 or annually lease the platform for USD 720.

Forex.com’s NinjaTrader Has Good Technical Analysis For Scalpers

Forex.com is one of the best scalping forex brokers offering NinjaTrader based on: Key Benefits of FOREX.com

  • Status: biggest US forex broker based on clients’ assets
  • Low spreads starting from 0.2 pips with a fixed commission
  • STP Pro account
  • Active Trader Program can save you up to 18% in monthly trading costs
  • Fast order execution speed of 40ms
  • Large selection of forex pairs (+80 major, minor and exotic currency pairs)
  • Regulated by the most important regulatory agencies CFTC and NFA

1)Active Trader Program

The active trader program is the ideal solution for scalping, as it comes with an additional lower trading cost. For scalping, you can’t afford high trading costs as this will eat from your small profits. With Forex.com, as a high-volume trader, you can reduce your trading costs up to USD 9 per every 10 standard lots traded.

The minimum rebate you can earn is USD 2 per million traded with the condition to generate a minimum of USD 25 million in trading volume. This translates into an average saving of 4% of your total trading cost. Forex.com’s active trader program has 5 different benefit levels (see figure below).

Forex Cash Rebates

For example, if your monthly volume is USD 150 million, your monthly trading rebate is USD 450 (150 x $3). Compared to other forex brokers, Forex.com has the most attractive cash rebate program.  Pepperstone only offers up to 15% in cash rebates, while most other brokers don’t give such compensations.

2)STP Pro Account

The Straight Through Processing STP pricing model was designed to provide a specialized solution for scalpers. STP trading technology can match orders instantly to selected liquidity providers. Forex.com sources its bid and asks prices from tier-1 LP and banks.

Note* Traders need to be aware that the STP Pro Account doesn’t support the active trader program.

Additionally, Forex.com allows orders to be placed within the bid-ask spread, giving the scalper the ability to gain the bid/ask difference. On the downside, you need to afford to scalp the market with a minimum position size of 100,000 units or USD 10/pip.

Besides the no-spread mark-up feature, you can earn up to 65% in discounted commission if you’re scalping the forex market in big size. The commission reduction is based on the monthly trading volume and it’s structured into 6 different brackets (see figure below).

Forex Commission Discount

Active Trader Program + Rebates + 80 FX Pairs = Forex.com NinjaTrader

Summary Of Why Forex.com Is The Best NinjaTrader Broker

Overall, Forex.com is one of the best Forex brokers for scalping the market with attractive cash rebates and reduced trading costs. The commission account is very accessible with a minimum deposit of USD 1,000 but for the STP Pro account, the recommended balance is USD 25,000. Scalpers who participate in the active trader program can get reimbursement of all deposits and withdrawal fees for wire transfers.

9. IC Markets Ideal STP & ECN Trading For Scalping

IC Markets

Forex Panel Score

85

Average Spread

EUR/USD = 0.62
GBP/USD = 0.83
AUD/USD = 0.77

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$200

Why We Recommend IC Markets

We highly suggest using IC Markets for scalping due to its ultra-low latency, tight spreads, and rapid trade execution.

This broker’s STP & ECN trading environment provides you with the right kind of platform to swiftly capitalise on small price movements and maximise profits.

Pros & Cons

  • Advanced analytics
  • Discounts for active traders
  • Educational materials
  • Tight spreads
  • Low-quality educational materials
  • High minimum deposit
  • Withdrawal fees
  • Slow live chat support

Broker Details

IC Markets is particularly good for scalping because it has ultra-low latency and fast execution. Trading is available with MetaTrader 4, MetaTrader 5 and cTrader.

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 and cTrader.

IC Markets provides the following instruments:

  • Forex
  • Commodities
  • Indices
  • Stocks
  • Cryptocurrencies

There are three accounts to choose from:

Standard Meta Trader: Best for new traders

  • Average EUR/USD spread: 0.62 pips

Raw Spread MetaTrader: Best for scalpers and algorithmic traders

  • Average EUR/USD spread: 0.02 pips

Raw Spread cTrader: Best for traders wanting Depth of Market (DoM) and extra analytical tools

  • Average spread: 0.02 pips

To summarise, if you’re looking for an STP & ECN trading environment with tight spreads and fast execution, you might want to give IC Markets a try.

ic markets account types brief