Compare the best scalping forex brokers in 2022

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Prash Raval

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he… read more.

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James Knight

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Updated: Oct 13, 2022

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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. 

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.

Most Popular

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 more info

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 more info

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

$ 10

Promotion

User Score

9.9

Can fund with BTC

64 global companies including Netflix and Amazon

Free deposits and withdrawals

Start Trading more info

Payment Methods:

Bitcoin, Credit Card, Debit Card, Wire Transfer

Full Regulations:

EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.

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.

The best scalping forex brokers for beginners and experienced traders

It’s important to choose a broker that’s suitable for your level of experience. Some platforms are aimed towards beginners, while other brokers are geared towards more experienced traders. To help you make the right decision, here is a selection of the best brokers for each level of experience.  

The top scalping broker for beginners

For a trader that is new to forex, an easy to use platform is a key requirement. It’s also a good idea to choose scalping platforms with low spreads in order to make money. The broker below has both and is perfectly suited to beginner forex traders. Click the link below to sign up in just a few minutes.

Most Popular

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 more info

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.

The top platform for experienced traders

Experienced forex scalpers should have a longer list of requirements. Top of the list are low spreads, the ability to trade with leverage, and access to other financial instruments. Click the link below to sign up to our expertly selected broker for experienced traders.

Most Popular

1

Min. Deposit

$ 100

Promotion

User Score

9.0

Powerful Forex trading platforms, both automated and manual

Access to over 50+ currency pairs including major, minor and exotic pairs

Enjoy competitive spreads, starting at only 0.8 pips per trade

Start Trading more info

Payment Methods:

Credit Card, MoneyBookers, PayPal, WebMoney, Wire Transfer, neteller

Full Regulations:

ASIC, FSA, FSCA, MiFID

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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.

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.