To start a successful scalping journey you first have to find the best forex broker for scalping. The success of scalping is highly sensitive to the trading conditions provided by the broker. It is critical that you have low slippage, fast execution and low spreads. It is easy for brokers to give low spreads and then manipulate execution ann slippage as this is hidden from the view of most traders. On the other side of the coin you should also beware of brokers who offer execution that is ‘too good to be true’ as this will come to haunt you later.
So to make it easy we decided to do some tests and publish the results on our website. We started with a large pool of metatrader 4 brokers and quickly eliminated the bulk because of extreme execution or slippage issues. We will not mention the losers here but we will have a look at the brokers who made it through to the top 5.
From all the brokers TradeView Forex came out tops with their Innovative Liquidity Connector account. The average slippage across our trades was 0.2 Pips per Trade which is fantastic. Their average spread on EURUSD is 0.3 pips. The Ping time 7ms. Execution time < 50ms.Comm $2.50 RT These are the best conditions we could find among all the brokers. Remember these tests were all run on live accounts. So in our view they are the best forex broker for scalping.
I had not heard of GBE Brokers before we conducted these tests but I was pleasantly surprised. GBE had excellent conditions as well but there were some spikes in slippage and execution which lead to lower scores overall. There was one trade that went horribly wrong with slippage of 9 pips which was a real pity as we performed well over all.
Fair Trading Technology is not really a broker but a MT4 Bridge . This technology provider can connect you to various brokers but the stand out is Dukascopy. We have always liked Dukascopy so it was great to test the bridge. It performed very well overall and we can definitely recommend it for scalping the only drawback here is the extra charge for using the Bridge @ $1 RT which does influence costing especially on high volume scalping. All in all however a good experience with FTT.
IC Markets has been a favourite of mine because of their low entry into the ECN market at only $250. They are a great option for traders with limited funds to start. IC Markets have great spreads and their comms are reasonable considering the low entry point. They are more expensive on comms than the other brokers ahead of them but a very good outfit which you can use to profit from with scalping strategies. The best forex broker for scalping $250 and less.
FXCM has been known as the best broker for scalping over a number of years. This could be true but the problem is that you need to get a special account with FXCM for $20,000 to really get the advantages of this broker. If you have the capital and you are looking for a stable very reliable broker then look no further. A broker that has stood the test of time and is listed on the NYSE. Very good broker, they are very big and focus on the bigger hitters rather than normal retail clients.
The Best Forex Broker for Scalping
Our test only ran 30 days but because of the number of trades we were able to execute we believe it was long enough. It is important to note this test is relevant to all forms of trading not just scalping as you could save a fortune from spread, commissions and execution delays if you trade with the best trading conditions available. We are proud to announce we have found the best forex broker for scalping and that broker is TradeView Forex.