As a trader when using scalping as your trading strategy, it is required that you do a proper market analysis before market entry since you will be holding a series of trades for a brief time.
If you live in the US there are many brokers available that can suit your trading style, however, in the post, our focus will be on the best US forex brokers for scalping.
One factor to consider in choosing the right broker for scalping is a tight spread; with a lower spread, you get to make quick profits on your trades compared to high spread brokers.
Before choosing a broker for scalping, a trader must ensure that they offer a very low spread; in this regard, forex.com is an excellent broker, but not for scalping; other brokers, such as Xm.com, give zero spread to clients.
Below is a summary of XM zero spread account:
- Tight spreads as low as 0.6 pips on all major currency pairs
- 1000+ Financial Instruments
- Trade with NO hidden fees
- The lowest possible spreads for all trading account types
- Best Execution Policy
- Fractional pip pricing
Here is a quote from John Papatheodoulou, Chief Dealer – XM Group.
“To keep spreads as narrow as possible, we aim to get optimal prices from all our liquidity providers.
Real-time prices are aggregated from liquidity providers in order to offer the best bid and ask prices to clients. Our electronic pricing engine allows us price updating on every currency pair three times per second, and thanks to this our prices reflect the current global forex market levels”.
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BEST US FOREX BROKERS FOR SCALPING
There are many highly rated us forex brokers; in terms of scalping, these are the top 2 below with the tightest spread:
Forex Broker – IG
Accepts US Residents – YES
Average Spread EUR/USD – Standard – 0.828
Minimum Deposit – £250.00
Forex Broker – Forex.com
Accepts US Residents – YES
Average Spread EUR/USD – Standard – 1.100
Minimum Deposit – $100.00
Pepperstone is a forex broker based in Australia that was founded in 2010.
Pepperstone is governed by three main financial regulators: the Financial Conduct Authority (FCA) of the United Kingdom, BaFin of Germany, and the Australian Securities and Investments Commission (ASIC).
Pepperstone Limited began operations in the United Kingdom in 2015 and has since expanded its offerings to include UK and European clients through local access.
The group has offices in Melbourne, Dubai, Limassol, Nassau, Nairobi, Dusseldorf, and London, among other important financial centers.
PROS AND CONS OF PEPPPERSTONE
Pepperstone’s procedures are user-friendly, with 100% digital account opening and customer support.
|For automated traders and copy traders, Pepperstone’s dual offering of MetaTrader and cTrader is ideal.||Pepperstone’s educational products are comparable to industry standards but not as good as category leaders.|
|Pepperstone offers a wide range of platform add-ons to improve the MetaTrader experience.||Interactive courses, progress monitoring, and instructional quizzes are not available.|
|Pepperstone offers a wide range of tradable assets||High costs for holding positions overnight|
|On Pepperstone’s Razor accounts, pricing is competitive for active traders, however trading fees for retail traders are average.||High bank withdrawal fee for clients outside the EU/Australia|
|There are several social copy trading services accessible.||Workspace customization is limited.|
|EUR USD Spread||0.77 pips|
|Crude Oil WTI Spread||2.3 pips|
|BTC USD Spread||31.39|
PEPPERSTONE DEPOSIT/WITHDRAWAL METHODS
Pepperstone offers a wide range of deposit and withdrawal options. See below
- Credit/debit card
- Union pay
- Local bank deposit
PEPPERSTONE BROKER SUMMARY
|Regulation||ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN|
|Platforms||MT4, MT5, cTrader, TradingView|
|Instruments||CFD’s on equities, indices, shares, commodities, energy, metal, and cryptocurrency|
|EUR/USD Spread||0.77 pips|
|Base currencies||AUS, USD, SGD, HKD, JPY, NZD, EUR, CHF and GBP|
|Education||Provided, research tools included|
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BEST BROKER FOR SCALPING STOCKS
Anytime you think of scalping, two things come to mind:
- Market speed execution
That being said the best broker for scalping stock is XM.
Below are the advantages of stock CFD trading at XM:
- Cost-effective and direct access to the global equity markets
- Instant access to global economies
- Speculation on market uptrends/ downtrends
- Going short/long according to market moves
- Suits both short and long-term trading strategies
- NO extra fees apply
When compared with other stock brokers, XM has a much lower commission, tighter spread, and minimum deposit as low as $5.
XM offers over 1200 stock CFDs to choose from. See more XM stock CFDs.
BROKERS THAT ALLOW FOR HEDGING AND SCALPING
This is a good feature and not all brokers offer this to their clients.
Here are a few brokers that allow for hedging and scalping:
- Admiral Markets
- CMC Markets