Are you in search for the best Forex brokers for scalping?

Based on our analysis, we’ve selected the top 10 best Forex brokers for scalping in 2024 which you can use to boost your trading profits.

What is Scalping?

Forex scalping is a common fast-paced trading style where traders rapidly buy and sell currency pairs to capitalize on minute price fluctuations. This style of trading is mostly recommended for beginners.

Rather than holding positions for extended periods, scalpers aim to execute numerous trades throughout the day, profiting from small price movements known as pips.

To amplify potential profits, scalpers often employ leverage and increased position sizes.

However, this strategy demands meticulous risk management to counteract the inherent risks associated with leverage, including wider spreads, fees, and slippage.

Scalpers typically favor ECN accounts due to their superior execution quality compared to standard accounts.

Ultimately, success in forex scalping hinges on a trader’s ability to efficiently manage risk while capitalizing on fleeting market opportunities.

Top 10 Best Forex Brokers for Scalping in 2024

In our list, the brokers were selected based on how they satisfy the various trading needs of Forex traders.

Here is the list of the top 10 best Forex brokers for scalping:

1. Exness
2. Octa FX
3. Forex.com
4. XM
5. AvaTrade
6. HFM
7. IC Markets
8. Just Markets
9. XTB
10. Pepper stone

Exness

Exness is a leading global Forex broker and the second most trusted broker in Nigeria. This broker is regulated by the Mauritius FSC, ensuring your funds are protected.

They offer a secure and reliable trading experience for Nigerian investors. Their focus is on transparency and ease of use, making them a top choice for beginners and experienced traders alike.

They also offer industry-standard MetaTrader 4 (MT4) with advanced charting and indicators, the next-level MetaTrader 5 (MT5) for multi-asset trading, and the user-friendly Exness Web Trader for seamless browser-based access.

You can start trading with as little as $10. Also traders can get started with some of the lowest spreads in Nigeria, starting from just 0.1 pips with leverage of up to 1:2000.

Octa FX

Octa FX, established in 2011, offers a diverse trading experience. With access to over 52 forex pairs, various commodities, indices, and 150+ stock CFDs, traders have ample market opportunities.

The platform supports popular MetaTrader 4 and 5, as well as its user-friendly OctaTrader. For on-the-go trading, Octa provides a dedicated mobile app available on iOS and Android devices.

Enjoy competitive spreads starting at 0.6 pips on EUR/USD with no commission fees and low minimum deposit of $20 and leverage up to 1:1000.

With Octa, you have access stock CFDs through the MT5 platform and benefit from copy trading, promotions, trading tools, and Islamic accounts.

Octa caters to both novice and experienced traders with its user-friendly interface, educational resources, and advanced trading tools.

Forex.com

A global leader in forex and CFD trading, FOREX.com boasts a well-respected brand and a superior trading experience.

StoneX, its parent company, is regulated by seven Tier-1 regulators, one Tier-2 regulator, and one Tier-4 regulatory body.

They cater to a wide range of traders by offering a diverse selection of markets and their own impressive suite of trading platforms, along with some access to the popular MetaTrader platform.

While FOREX.com may not be the most budget-friendly option for smaller volume traders as the minimum deposit is $100, their multi-asset offerings will undoubtedly be attractive to forex enthusiasts of all experience levels.

XM

XM Group is a MetaTrader specialist renowned for its extensive educational resources and market analysis. Backed by a strong regulatory framework, including four Tier-1 licenses (indicating high trust) and one Tier-2 license (indicating trust), XM offers a robust trading environment.

Traders benefit from a vast selection of over 1,400 CFDs, including 55 forex pairs. The platform also ensures seamless trading execution with guaranteed fills for market, stop-loss, and limit orders up to 50 lots.

AvaTrade

AvaTrade offers a single commission-free account accessible to traders with a minimum deposit of $100.While trading costs align with the industry average for a market maker broker, with spreads starting at 0.90 pips on the EUR/USD.

The platform distinguishes itself through its diverse range of trading platforms. Unlike many brokers, AvaTrade supports MT4, MT5, AvaOptions, and its proprietary web-based platform.

To further enhance the trading experience, AvaTrade eliminates deposit and withdrawal fees and provides an abundance of educational resources to support new traders.

HFM

The broker is overseen by several prestigious international financial and foreign exchange regulatory bodies, ensuring stringent compliance standards. This robust regulatory framework instills confidence in the broker’s reliability.

Notably, the HFM Zero Spread Account has gained significant popularity among traders, particularly those engaging in scalping strategies, which the broker explicitly permits.

HFM offers a variety of account options, including four standard accounts and a specialized copy trading account.

Notably, three of the four standard accounts have eliminated minimum deposit requirements and feature highly competitive trading fees.

To enhance trading accessibility, HFM supports industry-standard platforms like MT4 and MT5.

IC Markets

IC Markets presents a compelling option for traders, particularly scalpers. The broker equips its clients with highly adaptable and feature-packed platforms like cTrader and TradingView, enabling in-depth analysis of price movements.

To further enhance trading performance, IC Markets offers complimentary VPS hosting, reducing latency. The broker’s favorable trading conditions, including the absence of a minimum order distance, empower traders to execute orders with precision between the spread.

JustMarkets

JustMarkets provides a diverse range of seven live accounts accessible through the MT4 and MT5 platforms. Its beginner-friendly Cent Account boasts a minimal $1 deposit and competitive spreads starting at 1.00 pip for EUR/USD.

Traders seeking tighter spreads can opt for the Pro Account, offering spreads from 0.6 pips. For those prioritizing raw spreads, the Raw Spread Account provides zero-pip spreads in exchange for a $6 commission per lot.

Importantly, all JustMarkets account types support market order execution and accommodate scalping strategies.

XTB

XTB, a well-regulated broker, caters to a broad spectrum of traders. Its diverse range of tradable instruments, coupled with competitive spreads on certain assets, attracts experienced traders, including day traders and scalpers.

Advanced features like hotkeys, one-click trading, and sophisticated charting tools further enhance the platform’s appeal to this demographic.

Conversely, beginners will appreciate XTB’s intuitive platform, responsive customer support, and comprehensive educational resources.

While the broker’s decision to discontinue MT4 support might be a setback for some, its proprietary xStation 5 platform has earned recognition for its speed, user-friendliness, and advanced functionality.

Pepperstone

Pepperstone, a top-tier Australian broker, is a preferred choice for scalpers and automated trading systems. It offers lightning-fast trade execution with execution speeds under 30 milliseconds.

Pepperstone offers both Standard and Razor accounts, from which traders can select the account best suits their needs. The Razor account boasts ultra-tight spreads starting from 0 pips on EUR/USD, offset by a small commission.

To cater to diverse trading preferences, Pepperstone supports MetaTrader 4, MetaTrader 5, and cTrader platforms. This flexibility ensures traders can utilize their preferred trading environment.

Conclusion

We advice that you can try out your scalping strategies on the demo accounts of these platforms before fully investing your money in them.

However, if you have not developed a trading strategy yet, you can learn the best strategies from the pros here at Beo Forex Academy.

Choose from our diverse range of forex classes for Beginners, Professionals and even our special Forex Masterclass.