Best Scalping Forex Trading Platforms

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. Brokers that offer the platform include IC Markets, 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 a number of reasons, including:

• ‘Ease of use’: MT4 offers a clean and uncluttered interface that makes it easy to access information, open and close trades change colours and setting 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 (for automated trading), 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 own 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 is not as diverse as other platforms.

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

Pepperstone is the Best Broker for Scalping with MetaTrader 4

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

• Its ECN pricing model and vast network of top-tier liquidity providers
• Its tight spreads, with the average spread on major pairs such as EUR/USD being 0.13 pips
• Its lightning-fast order execution speed, with trades being filled in less than 30 ms
• Its 28 additional Smart Trader Tools for MT4, allowing for more precise implementation of strategies
• Its commission discounts (rebates) for high-volume traders
• High maximum leverage of 1:500 (30:1 in the UK and Europe) to access the Forex market
• Strong Forex regulation – ASIC, FCA, FSCA, CySEC and BaFin

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

1)Fast Order Execution Speed

As a 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	AUD/USDEUR/JPYUSD/JPYUSD/CADEUR/USDAUD/JPYEUR/GBPGBP/USDUSD/SGD	AUD/USDEUR/JPYUSD/JPYUSD/CADEUR/USDAUD/JPYEUR/GBPGBP/USDUSD/SGD	AUD/USDEUR/JPYUSD/JPYUSD/CADEUR/USDAUD/JPYEUR/GBPGBP/USDUSD/SGD	AUD/USDEUR/JPYUSD/JPYUSD/CADEUR/USDAUD/JPYEUR/GBPGBP/USDUSD/SGD	AUD/USDEUR/JPYUSD/JPYUSD/CADEUR/USDAUD/JPYEUR/GBPGBP/USDUSD/SGD
	0.27	0.34	0.16	0.28	0.16
	0.20	0.30	0.20	0.50	0.10
	0.20	0.30	0.10	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	0.50	0.30	0.60	0.30
	1.03	0.75	0.32	1.16	0.40

Data taken from broker website. Accurate as at 05/01/2021

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 network, 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 feature through 3 dedicated third-party platforms Myfxbook, MetaTrader Signals and DupliTrade. The software solution for social trading offered by Pepperstone work 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 why Pepperstone is the Best MetaTrader 4 Scalping Broker

Overall, our team of experts considers Pepperstone as the best scalping broker with MetaTrader 4 platform. With true ECN pricing model, spreads starting from 0.0 pips, USD 3.76 commission rate, fast execution and copy trading feature, Pepperstone MT4 solution is the best if scalping is your preferred strategy. Pepperstone doesn’t enforce any minimum deposit requirements. Feel free to click the button below and test their MetaTrader 4 platform today.

View Pepperstone Review >>Visit Pepperstone >>

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:

• One-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 modify active orders via the drag-and-drop tool
• 30 industry-leading technical indicators
• Ensures 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 desktop version)
• Cannot use expert advisors with Web Trader
• Less customisation, interface settings cannot be changed

MT4 Web Trader – Big data Al Sentiment Trading Scalping Software – HotForex

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:

• Hedging is allowed hand-in-hand with scalping
• Interbank spreads with no markups (0.1 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

The sentiment information can be used for better reading of the 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 1,000 units of the base currency, quotation system using the fifth decimal and telephone trading.

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

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

Summary of Why HotForex is Has the Best Scalping Sentiment Tools

Overall, HotForex’s trading tools can be used as a personal trading assistant, proving you with highly accurate AI technology. At HotForex, scalpers can enjoy better tools, hedging and non-hedging mode, better information, a good selection of instruments and range of account types. The minimum deposit to open an account is USD 100, but you can always use their demo account.

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, 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.

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, 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:

• 59.79% 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 in 94.84% of the time. The broker’s pricing was equal to or better than the spot equivalent quoted futures prices on the CME in 81.34% of the time.
• It has provided high volume active traders with ultra-tight spreads on major currency pairs during peak hours – 0.2 pips on average on EUR/USD and USD/JPY, 0.3 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.

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 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 mark-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 scalper receive better prices, less slippage and no-requotes. Scalpers can have an edge in high 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.

View FXCM Review >>Visit FXCM >>

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 which grants access to the best available bid 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.

Advantages of cTrader

cTrader has 3 main strengths:

• Pricing transparent through Depth of Market
• Direct execution meaning fast processing
• and chart features which 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 Leve 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 choice 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 indicator 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 order also offer 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 fast execution option, then you cTrader is a solid option.

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 is 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-quotes
• Trade orders executed in 37 ms on average
• Scalping on 4 supported financial markets (Forex, metals, indices and energies)
• Up to 7,000 orders 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, by the CySEC in the EU and by the FSCA in South Africa

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 is able to 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 is able to deliver institutional trading conditions that are compatible with scalpers.

FxPro supports profitable trading based on:

• Ultra-low latency with scalping orders being executed on average in less than 11.06ms
• Full price transparency – 82% of orders 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)

 “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.

View FxPro Review >>Visit FxPro >>

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 are able to 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:

• 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 alerts 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. What makes this brokerage attractive for scalpers can be summarized as follows:

• FXTM 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 June 2020 data
• FXTM’s re-quote rate has remained at extremely competitive lows – around 4% of total orders, according to June 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 June 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. South African clients, on the other hand, 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 0.1 pips on AUD/USD and EUR/USD, 0.2 pips on GBP/USD, 5.0 points on Spot Gold), while requote rates have remained at competitive lows.

Along with high maximum leverage and low minimum spreads, FXTM clients who employ scalping strategies are able to 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

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).

View FXTM Review >>Visit FXTM>>

IRESS

Offered by FP Markets, IRESS Trader is a web trader platform designed for DMA execution with the ability to stream quotes dynamically across numerous CFD exchanges. Less common than MetaTrader and cTrader, and designed for the active trader, IRESS Trader is part of the IRESS suite of 4 different trading platforms (IRESS ViewPoint, IRESS Trader, IRESS Investor and IRESS Mobile).

Advantages of IRESS Trader

IRESS Trader is a professional trading software that accommodates a good range of sophisticated trading tools. The advanced charting system provides leading technical tools and immediate order execution without the need to do extra adjustments. The key features of the platform include:

• Full market depths (depth of market) for transparent pricing
• Live streaming of news
• Advanced Order Management
• Market heat map
• Advance charting – 59 indicators and 50+ drawing tools
• Ability to save chart template and instantly
• ViewPoint to compare the correlation between currency pairs and multi-assets to spot trading opportunities

Disadvantages of IRESS Trader

IRESS Trader is only an appropriate choice for sophisticated traders. Novice traders may focus on MetaTrader software. The no VPS hosting service was the other element the weighted negatively in our review scoring system. A Forex VPS server would have helped traders hosting automates scalping strategies on a virtual server for uninterrupted access to the Forex market.

FP Markets Is A Top Broker for Scalping In Australia

Based on our reviews, FP Markets is among the best scalping Forex brokers in Australia, based on:

• FP Markets’ Equinix servers ensure low latency and trade order execution speeds of less than 40 ms
• It offers tight spreads on Forex pairs (the average spread on EUR/USD is 0.09 pips), as it sources prices from a vast pool of liquidity providers
• It ensures no dealing desk execution of trade orders with no re-quotes or other price manipulation
• +10,000 financial instruments (one of the biggest Australian-based brokers)
• VIP trading account with special trading conditions for scalping
• Its Iress Premier Account has no platform fees, which is a huge benefit for scalpers. With the other two Iress accounts, fees will mount due to the large number of trades which reduce traders’ overall efficiency.
• It complies with regulatory standards by Australia’s ASIC and Cyprus-based CySEC.

1) FP Markets Trading Account Types

FP Markets clients can choose between 3 different account types tailored for more reliable trading conditions. Scalpers can enjoy ECN pricing, DMA access, fast execution that minimizes slippage, full market depth, increased liquidity and no price requotes. Traders can take advantage of this highly innovative platform through the following trading accounts:

• IRESS Standard Account – minimum deposit of USD 1,000 and reduced commission from USD 10
• IRESS Platinum Account – minimum deposit of USD 25,000 and “even lower commissions” from USD 9
• IRESS Premier Account – minimum deposit of USD 25,000 and fees starting from 0.08%

To get access to the IRESS Trader with the standard and platinum account, traders will be charged a platform fee of USD 55 per month. The platform fee can be waived, if traders can generate USD 150 in commissions. Scalpers who trade more intensively and more often can attain higher trading volume and subsequently can easily get the platform for free.

Commission fees will add up if you are scalping so you would want to choose IRESS premier account, which has no commission costs. Additionally, the premier account has the platform fee waived by default.

FP Markets’ clients can negotiate with their account manager the minimum account balance for a premier account. FP Markets is inclined to be flexible and offer better deals at their sole discretion. If the minimum account balance is too high, then traders also have the option of MetaTrader 4 and MetaTrader 5 trading platforms. These platforms offer STP trading with commissions of $7.00 round-turn.

Note: FP Markets only offers IRESS to its Australian clients. 

2) Advanced Forex Scalping Tools

FP Markets real-time economic calendar allows scalpers to be up to date with the latest risk events and news that can generate some high volatility. The most favourable and conducive trading environment for scalping is a high-risk volatility environment. With FP Markets economic calendar, traders can stay ahead of volatile price movements.

A scalper can tackle the challenges that come with short-term trading by scalping with one-click trading. The one-click trading feature gives scalpers more control and faster speed for order opening and closing.

Additionally, FP Markets clients can access additional applications like sentiment trader tool, market manager, correlation matrix, stealth orders for automatic buy and sell at market price and more.

3) Direct Market Access (DMA)

The unique DMA execution model offered by FP Markets exclusively through the IRESS Trader platform provides scalpers with interbank rates and no mark-ups. The additional benefits of the DMA structure include transparency, less intervention, increased liquidity and the ability to “add liquidity, as a seller or take liquidity as a buyer.”

DMA Trading + VIP Accounts + Competitive Commission Rates + 0.09 EUR/USD Average Spread = IRESS

Summary of Why FP Markets is the Best Broker for Scalping in Australia

Overall, FP Markets has gone one extra mile to provide superior trading conditions for scalpers. With a true DMA trading experience, ultimate scalping tools, average EUR/USD spread of 0.09 pips and VIP trading account, scalpers can safely trade with FP Markets. Try your hand with a demo account by clicking the button below.

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.

Additionally, the platform features over 50 drawing tools, including Elliott Waves, Andrew’s Pitchfork, Gann Fans among others, 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

First of all, premium subscription packages tend to be a bit costly. Additionally, the platform’s news feed system needs further improvement – for example, sorting news headlines based on popularity or relevance.

Oanda Offers TradingView – The Best Web Trading Platform For Scalpers

Our review has concluded that Oanda has the best web-based trading platform for scalping, based on:

• 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 brokerage 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, it is possible that CFD and Forex traders face some kind of price manipulation, something that is completely out of 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 UK’s Financial Conduct Authority (FCA).

Variable Spreads + Reputation + Advance Web Platform = Oanda

Summary Why Oanda Offers The Best Web Platform For Scalpers

Overall, Oanda is a trusted firm that allows its clients to scalp the financial markets on 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.

View Oanda Review >>Visit Oanda >>

ThinkTrader

Previously known as Think Interceptor, ThinkTrader is ThinkMarkets’ proprietary trading software solution compatible with all smartphones, tablets and PCs. ThinkTrader mobile is one of the leading Forex trading apps with advanced built-in technical tools and “tailor-made commission plans” that cater to scalpers.

Advantages of ThinkTrader

ThinkTrader platform supply scalpers with real-time charts, general analysis tools, touch-enabled trade management functionality (featured on the mobile app) and split-screen mode to monitor several financial instruments at the same time. This proprietary trading platform has a number of built-in trading tools including:

• Multiple demo accounts that do not expire
• 80 technical indicators
• 50 drawing tools
• 14 chart types
• 200 cloud-based alert delivered regardless if you’re on or offline
• Ability to close multiple orders or all open orders with one click
• TrendRisk scanner to identify opportunities
• Mobile App has a quad screen display with 4 real-time charts on screen

Forex traders can benefit from professionally curated real-time news from FX Wire Pro and data release alerts that help scalpers stay on top of the game.

Disadvantages of Think Trader

While ThinkTrader is a specially developed platform, we can also note some minor drawbacks. ThinkTrader is free for download for mobile, tablet and desktop but there is no web trader version of the trading platform. Additionally, there is no VPS hosting service, ThinkMarkets only offers free VPS hosting for MT4 running strategies.

To qualify for the free hosting service offered by ForexVPS in partnership with ThinkMarkets, traders need to generate at least 15 round turn lot within a calendar month of trading.

ThinkMarkets ThinkTrader Has Low Commissions For Scalping

Based on our reviews, ThinkMarkets is among the best low-cost scalping brokers. We consider that the brokerage offers good trading conditions for scalpers because:

• It offers tight spreads on Forex pairs, starting from 0.0 pips, on its ThinkZero Account. The average spread on EUR/USD is kept at 0.1 pips due to a large pool of liquidity providers and a state-of-art trading infrastructure.
• It operates a Straight-Through-Processing (STP), no dealing desk NDD business model
• Forex traders can take advantage of low latency and the fastest order execution speeds possible since ThinkMarkets’ trading servers are hosted in the Equinix’s LD5 and HK4 data centres
• Forex and Metals traders will be charged a small commission of $3.5 per side for every 1 Standard Lot traded, one of the most competitive on the market.
• It allows maximum leverage of 1:500 for Forex trading and requires a reasonable minimum deposit of $500
• It falls under strict regulation by reputable bodies such as Australia’s ASIC, UK’s Financial Conduct Authority (FCA) and South Africa’s Financial Sector Conduct Authority (FSCA)

If you’re an active trader (scalper or day trader) the three most important features you want in a broker are low commissions, faster trading speeds and a comprehensive trading platform. ThinkMarkets checks all the boxes to fulfil everything that is necessary to successfully scalp the forex market and +1,200 of other CFDs.

1)ThinkMarkets Low commission

With ThinkMarkets traders are charged USD 3.5 per one standard lot or USD 7.0 round-turn commission rate. The commission is only charged on the ThinkZero account and on FX currency pairs along with gold trading. The transaction cost for trading CFDs is built in the buy-sell spread. Scalpers can enjoy no commission on trading CFDs and spreads starting from 0.4 points.

Note* Currently, ThinkMarkets’ clients can only trade with variable spreads (average FX spreads from 0.1 pips) and no interventions.

The commission rate across the best forex brokers varies from as low as USD 2.0 to as high as USD 5.0 per side (see the full comparison in the table below).

2)STP Pricing Model

ThinkMarkets also employs Straight Through Processing (STP) pricing model, which is superior to the ECN model. While scalping goes with ECN account, the STP account ensures lower costs of transactions and faster speeds. ThinkMarkets only uses its price engine to route your orders directly to the liquidity providers (LP).

Additionally, ThinkMarkets can guarantee “fast trade execution within milliseconds.” The fast order speed is achieved due to the strategic location of ThinkMarkets’ servers. ThinkTrader price technology is located in major Equinix co-location centres:

• The London LD5 centre which accommodates over 1,000 companies
• Hong Kong financial hub, which accommodates over 450 companies

ThinkMarkets trading infrastructure was built to ensure stability, low latency and fast speed. More, you can scalp the market with flexible trade size. The minimum trade size offered by ThinkMarkets is 0.01 or 1,000 units, which is equivalent to USD 0.1 per pip. This enables scalpers to position in the market with much greater precision. More, scalpers can break large orders into smaller orders by using the flexible trade size orders offered by ThinkMarkets.

STP Model + 1,200 CFDs + Flexible Trade Size = ThinkTrader

Summary Why ThinkMarkets Is Best For Scalping With Low Commission

Overall, ThinkMarkets has the best scalping trading platform with low commissions. With ThinkMarkets, scalpers can save money on trading commissions, enjoy “razor-sharp spreads” from 0.0 pips, maximum leverage up to 500:1 and trading infrastructure tailored for short-term trading. Click the button below to create your risk-free demo account.

View ThinkMarkets Review >>Visit ThinkMarkets >>

Ninja Trader

NinjaTrader offers US forex traders a powerful suite of award-winning charting software solution and trading tools. Supporting all types of trading strategies including scalping, NinjaTrader 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 offers scalpers the best trading conditions for success. Tools like the Quantum Tickspeedometer can help scalper 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.

Last but not least, the NinjaTrader automated solution offers either point-and-click strategy developing (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 comes 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.

There are only 8 NinjaTrader supported brokers with the biggest name including Interactive Brokers, TD Ameritrade, Citi 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:

• 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 agency 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 rebates 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).

For example, if your monthly volume is USD 150 million, your monthly trading rebates is USD 450 (150 x $3). Comparing to other forex brokers, Forex.com has the most attractive cash rebates 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 for providing a specialized solution for scalpers. STP trading technology is able to 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 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).

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.