Compare the best scalping forex brokers in 2023

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.
By:  & 
Updated: Jan 23, 2023
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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 2023

  1. eToro: Best for beginners, copy-trading & demo-account
  2. OANDA: Best for trading with live market data
  3. Capitality: Best for trading like a pro

What are the best scalping forex brokers?

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.

1
Min. Deposit
$ 10
Promotion
User Score
10
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
2
Min. Deposit
$ 10
Promotion
User Score
10
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Visa
Full Regulations:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
-
Promotion
User Score
9.8
Take a position on major global indices, including US Wall St 30 and France 40
Low spreads and accurate pricing reflecting the underlying market
Comprehensive analysis and new for better decision making
Start Trading
Payment Methods:
Bank Wire, Check, Credit Card
Full Regulations:
CFTC, FCA, IIROC, MAS, NFA
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest.

Top 6 scalping forex brokers, reviewed

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

1500

No. assets

$10

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

Visit eToro Read Review

2. Oanda. Best for trading with live market data

oanda logo

1500

No. assets

$10

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

Visit Read Review

3. Capitality. Best for trading like a pro

capitality logo

...

No. assets

...

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

What is a scalping forex broker?

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? 

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?

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?

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

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

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

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

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

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

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?

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?

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?

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?

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?

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

  • 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

Should I trade forex now?

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?

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.

Last week it was all about the Federal Reserve’s interest rate decision and the Non-Farm Payrolls January report. Both generated increased volatility in financial markets, with the NFP report surprising everyone. As it turned out, the US jobs market is very strong. In January, the US economy added 517k…
The USD/INR exchange rate pulled back on Wednesday after the latest interest rate decision by the Reserve Bank of India (RBI). It also retreated following the relatively hawkish statement by Fed officials, including Jerome Powell, Neel Kashkari, and Raphael Bostic. It pulled back to 82.67, which was a few…
The USD/CHF exchange rate wavered on Tuesday after the strong Swiss jobs numbers and as the US dollar index (DXY) recovery gained steam. The pair was trading at 0.9272, which was a few points above the year-to-date low of 0.9057.  US dollar index rallies The USD to…

FAQs

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Sources & references
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Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.
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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.