Compare the best scalping forex brokers in 2024

This guide picks out the best forex brokers for scalping. These brokers all allow scalping and are ideal for an active, fast-paced trading strategy.
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Updated: Aug 5, 2023
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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This beginner friendly guide helps you choose the best scalping forex broker. We explain what scalping is, what to look out for when choosing a broker, and compare the top platforms available. 

Best scalping forex brokers overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account

What are the best scalping forex brokers?

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If you want to start scalping forex straight away then the table below has some of the best rated brokers around. Offering low fees and spreads, these expertly selected brokers are an excellent choice for anyone looking to scalp currencies. Simply click the links to get started in minutes.

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1
Min. Deposit
100 €
Best offer
User Score
10
Handel in +2000 CFD's op aandelen, forex, indices, crypto, opties, grondstoffen en meer
Onbeperkte risicovrije demo-account
0 commissies & aantrekkelijke spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Debetkaart, Discover, Google Pay, Kredietkaart, Mastercard, Overschrijving, PayPal, SEPA, Trustly, Visa, ,
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
100 €
Best offer
User Score
10
Start Trading
Payment Methods:
Apple Pay, Google Pay
Full Regulations:

71% of retail CFD accounts lose money.

3
Min. Deposit
85 €
Best offer
User Score
9.9
MT4 met instrumenten in 9 time-frames met 30 vooraf geïnstalleerde indicatoren
Handel op spreads van zo laag als 0.0 pips
Meerdere financiering en snelle opnamemogelijkheden. Kies uit PayPal en meer
Start Trading
Payment Methods:
Cryptocurrencies, Kredietkaart, Overschrijving, PayPal, ,
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 6 scalping forex brokers, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

What is a scalping forex broker?

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A forex broker is an online company that allows you to trade the foreign exchange market. A scalping forex broker is a trading platform that lets you implement a trading strategy known as scalping. The best scalping forex brokers tend to have small spreads and lots of technical tools to help traders profit. 

What is scalping? 

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It’s a short term trading strategy that involves buying and selling a currency pair with the aim of making a small profit. Traders who use a scalping method take many trades throughout a day and keep them open for a very short period of time. The overall goal for scalping is to accumulate a large number of small wins to profit from the forex market. 

How do scalping FX brokers work?

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Scalping forex brokers act as a ‘middleman’ between a trader and the exchange. However, there are typically two ways in which they work: dealing desk trading and no dealing desk trading. Both ways give traders the opportunity to participate in the forex market, although they have slightly different models. Below we’ve briefly explained each one. 

  • Dealing desk trading. This is when a broker acts as a dealer and takes the opposing side of a trade. Brokers working in this way usually have bigger spreads and are able to control prices.  
  • No dealing-desk trading. Using this type of broker gives traders direct access to the interbank market (where banks trade currencies with each other). This is the preferred method for most brokers and traders. Forex brokers using this model act as a ‘middleman’ to facilitate trades.

What should I look for in a scalping trading platform?

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When searching for a scalping trading platform there’s a few key features to look out for. Below we’ve summarised some of the most important factors to consider while choosing a broker. 

Low spread

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As scalpers take lots of trades throughout the day with the aim of making a very small profit on each one, spread is one of the most important things to consider. Spread is the difference between the buy and sell price of a currency and if it’s too high, it can eat into your profits very quickly. Choosing a low spread broker is vital for forex scalpers. 

Reliable platform

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The best platforms are reliable, don’t suffer much downtime, or crash often. Reliability is key, especially for scalpers who may have multiple trades open at any one time. If a platform goes down or crashes at the wrong time, it could prove to be very costly. Reading customer reviews prior to signing up with a broker is a great way to understand how reliable a platform is. 

Large choice of currency pairs

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Having the option to trade a broad range of currencies can make a big difference for a trader scalping the forex market. Scalpers are highly active traders looking for small moves. Sometimes a specific pair may not be moving much, so having the choice to look at another is a good option for forex scalpers. 

Range of technical indicators

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Lots of traders who partake in forex scalping use technical analysis to determine when and how to trade. Finding a broker that offers a broad range of technical indicators can be beneficial to a trader wanting to improve their scalping. You can learn more about technical analysis on our forex courses page. 

Quick answers to key questions

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Do I have to download any software in order to trade?

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Not always as most brokers have the facility to trade directly on their websites. However, forex scalpers are very active so it would be a good idea to download your broker’s trading platform where you can read charts and conduct technical analysis more easily. Some of the most popular platforms traders use are MT4 and Trading View. 

Can I trade from my mobile device?

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Yes, almost all forex brokers offer a downloadable app that you can use to trade from. For anyone trading forex using a scalping strategy, apps can be a great way to monitor your trades while on the go. Most trading platforms such as MT4 offer mobile apps that include some of the functions of their desktop apps. 

Will I get a bonus for joining a forex scalping broker?

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It will depend on the broker, although most brokers do usually offer some kind of bonus for new users. When registering with a broker and taking a bonus, it’s important to check the terms and conditions as many will have certain requirements such as turning over funds before being able to withdraw. 

Can I trade other instruments with a scalping broker?

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Most often you can, as almost all brokers have other asset classes available to trade. Some of these include commodities, crypto, and indices. Finding a broker that offers other financial instruments is a good idea because you can more easily spread your money around and diversify your trading portfolio. 

Should I use a scalping broker to trade forex?

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If scalping is part of your trading strategy, then you must use a broker that allows it. Some brokers don’t, while on others the commission or spread is too high to make it a viable option. Low fees and fast execution speeds are vital and scalping requires a significant amount of expertise to get right.

Still undecided?

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If you’re still not sure about joining a scalping forex broker, then we’ve provided a few pros and cons below to help you make up your mind.

Pros

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  • Scalping forex brokers allow you to make multiple trades throughout a day and collect small profits which soon add up. 
  • Most brokers offer leverage which means small profits can be magnified into large money gains. 
  • The best scalping brokers have simple to use technical tools making analysis easier. 
  • Top brokers offer mobile apps which you can use to check on your trades while not at your desk. 
  • Many platforms also have other asset classes available to trade so you can spread your money around.

Cons

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Should I trade forex now?

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If you have never traded before, then it’s best to start with a simpler strategy than scalping. The first thing to do is choose a broker and create an account, and you should consider finding one with a free demo account. That way you can practice different trading strategies before deciding which one works best for you.

Where can I learn more about forex trading?

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The first thing you should do is start following the latest forex news. That gives you an insight into the events and economic developments that affect currency prices, while you can read through the latest market analysis to follow how experts understand those events. You may also want to try taking a forex trading course to get to grips with the basics of technical analysis and discover the nuances of how currencies interact.

GBP/USD forecast: signal as Morgan Stanley, HSBC change tune on BoE
The British pound has come in the spotlight this week as traders adjust their Bank of England (BoE) interest rate cuts outlook. The GBP/USD exchange rate was trading at 1.2692 on Friday, down from last Friday’s high of 1.2760. BoE interest rate cuts bets The GBP/USD pair pulled back even after the U
NZD/USD forecast amid strong New Zealand economic data
The New Zealand dollar, popularly known as the kiwi, was in the spotlight this week as traders watched key events in the country. The NZD/USD pair was trading at 0.6097 on Friday, a few points below this week’s high of 0.6150. RBNZ and key economic data The NZD/USD pair was on the spotlight after th
USD/TRY forecast: Turkish lira braces for key events
The USD/TRY exchange rate drifted downwards as traders waited for the upcoming Federal Reserve minutes and the upcoming CBT interest rate decision. The USD to Turkish lira pair retreated to a low of 32.2 on Wednesday, down from the year-to-date high of 32.81. FOMC minutes and CBT decision The USD/TR

FAQs

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What is the best broker for scalping forex?
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Is it better to have low fees or spread for scalping?
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Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.