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Scalping is a high-volume Forex trading method that includes making many trades in a short period of time. Taking advantage of modest price swings in order to make a larger profit is the goal.
The scalping approach isn’t supported by all Forex brokers, so we’ve compiled a list of the top five that do support it while also offering top-notch trading conditions.
1. XM
Overview
There are more than 1000 financial items available for trading on the MT4 and MT5 platforms on the XM platform.
In less than a second, more than 99 percent of the company’s transactions are completed, and the company serves more than 2.5 million consumers who speak 30 different languages in 190 countries.
Pros and Cons
Pros
Low minimum deposit Comprehensive educational offering Streamlined account opening process
|
Cons
Inactivity fee charged after 90 days on live accounts Limited product portfolio
|
Features
Feature | Information |
Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
Minimum deposit from | $5 |
Average spread from | 0.1 pips |
Commissions from | $3.5 commission per $100 000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:30 |
Bonuses | $30 Trading Bonus |
Customer Support | 24/5 |
2. IFX Brokers
Overview
From 2018 to date, IFX Brokers, a South African broker, has assisted clients in making transactions on a range of financial markets. With transparent fee schedules and leverage of up to 1:500, the trading conditions at IFX Brokers are quite competitive in the industry.
Pros and Cons
Pros
High leverage available MetaTrader 4 is supported. Resources for learning are available
|
Cons
Lax regulation |
Features
Feature | Information |
Regulation | FSA |
Minimum deposit from | ZAR100 |
Average spread from | 0,5 pips |
Commissions from | NA |
Deposit/Withdrawal Fees | NA |
Maximum Leverage | 1:500 |
Bonuses | NA |
Customer Support | 24/5 |
3. Markets.com
Overview
MT4 and MT5 are two of Markets.com’s award-winning proprietary trading platforms, and all three of them are supported.
In addition to over 14 fundamental, technical, sentiment-based trading tools, and expert analysis, the multi-asset trading platform, Markets offers a comprehensive set of services to its clients.
Pros and Cons
Pros
Commission-free trading Low minimum deposit Tight, fixed spreads Wide range of tradable assets
|
Cons
Customer support can be slow The best trading conditions are only available on the Pro Account |
Features
Feature | Information |
Regulation | CySEC, FCA, ASIC, FSC, FSCA |
Minimum deposit from | $100 |
Average spread from | 1.9 pips |
Commissions from | 1% |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:300 |
Bonuses | $25 No Deposit Bonus |
Customer Support | 24/5 |
4. Tickmill
Overview
Tickmill’s exceptional reputation is largely owed to the broker’s highly regarded trading conditions, which include zero-pip spreads, no dealing desk execution, and acceptance of all trading styles, among other things.
Pros and Cons
Pros | Cons |
Competitive pricing
Well regulated High leverage Advanced trading software STP model |
Features
Feature | Information |
Regulation | FSA |
Minimum deposit from | $100 |
Average spread from | 0.1 pips |
Commissions from | 2 per side per 100,000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | $30 Welcome Bonus |
Customer Support | 24/5 |
5. Pepperstone
Overview
Traders in the forex and CFD markets can take advantage of Pepperstone’s competitive pricing, first-rate customer service, and extensive selection of third-party platforms.
Among the agency execution brokers, Pepperstone’s commission-based Razor Account stands out as the most competitive in terms of cost.
Pros and Cons
Pros
No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits
|
Cons
Limited number of instruments No additional research tools
|
Features
Feature | Information |
Regulation | FCA, ASIC |
Minimum deposit from | AUD200 |
Average spread from | 0.4 pips |
Commissions from | $3.76 commission per lot per trade |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/5 |
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Scalping provides a profitable avenue for forex traders in the market. Knowing the best service providers should be your first consideration.