7 Best Forex Brokers for Scalping with Low Spreads in 2020
Before we present you with the best forex brokers for scalping with low spreads, it is important to define and explain scalping. There may be people who either don’t know what scalping is or who don’t understand it too well.
Therefore, let’s cut the chatter and jump right into it!
The Basics of Scalping
Scalping is basically a trading strategy that focuses on profits made from small price changes. Those who use this method usually place several trades in a single day – as low as 10 and as high as a couple hundred.
That kind of strategy is based on the belief that the small movements of the forex markets are much easier to determine than the large moves. This way, brokers with tight spreads on Metal CFDs (gold, silver, platinum etc.) offer great trading opportunities for precious metal scalpers.
On top of that, scalpers also leverage more than the normal in order to boost the profit they make on small movements. Naturally, this makes them rely more on technical analysis indicators.
The 7 Best Forex Brokers for Scalping with Low Spreads
The first entry comes with a solid reputation, mainly because it is regulated by the AISC. The broker is mostly known for its fast order execution speeds, prompt customer support, and the fact that it supports EAs.
Pepperstone attracts a lot of traders due to the fact that it supports automated trading, hedging, as well as mobile, web, and desktop trading. In short, it offers traders everything they need to make money.
On top of that, the broker is FCA and ASIC regulated.
IC Markets is one of the more popular forex brokers that allow scalping with low spreads. More than that, they also provide traders with a fast account opening, highly customizable and user-friendly layouts and charts, as well as dedicated customer support.
The next entry comes with a dedicated customer support team and account managers. They also provide traders with a rather wide range of tools for technical analyses.
XM Group puts an emphasis on economic news and market research, while also allowing scalping. The broker feature is customizable and has user-friendly layouts and charts.
Exness is regulated by FCA UK, CRFIN, CySEC, BaFin, and FSP. It offers spreads from 0 Pip and provides leverage of up to 1:2000.
This broker supports platforms such as the MT5 and MetaTrader 4. In terms of benefits, the free swap and commission are worth a mention.
Think Markets, on the other hand, is suited for both beginner and expert traders. This is because this particular broker employs revolutionary technologies that make their platform friendly for any user.
Naturally, they are ASIC and FCA regulated, provide you with superior customer support – coming directly from account managers -, and support fast processing of deposits and withdrawals.
The last entry on our list comes with a 50% deposit bonus and with a contest where you can win a luxury car. The broker is online since 2011 and is regulated by FSA and CySEC.
It offers spreads from 0.4 Pips and features leverage of up to 1:500. The broker is based on the MetaTrader 4 platform and features a free swap and commission.
The Bottom Line
Naturally, there are many other forex brokers that allow scalping with low spreads, but the aforementioned are the best and will likely keep their features and advantages in 2020 as well.
Therefore, all that’s left for you to do is give the brokers mentioned above a visit and see if they fit your trading style!