Scalping is a technique traders used to make profits in a short time in forex trading. Before you can use scalping technique to trade in forex, you must make sure the broker allows it. There are only a few forex brokers that allow the technique. The following is a list of the 5 most trusted Forex trading providers that allows scalping.
XM.com is a regulated forex broker founded in 2009 and based in Cyprus. It was formerly known as Trading Point of Financial Instruments Ltd. XM.com offers a leverage of 888:1. There are more than 100 types of assets. It offers Meta Trader 4 that is compatible with Windows and Mac. It also supports mobile platform. XM.com has a low minimum deposit of $30. They provide a demo account that is pre-loaded with $100,000 virtual currency. Traders can test their skills on the demo account for as long as they want. XM.com is suitable for newbie traders.
FxPro is a reputable forex broker established by Denis Sukhotin and other professionals in the financial fields in 2006. The broker is regulated by both CYSEC and FCA. It has received more than 20 awards in the past. FxPro offers a leverage of 500:1. They permit traders to use scalping strategies. There are 4 types of trading platforms including MetaTrader 4, MetaTrader 5, crader and superTrader. They offer a free and unlimited demo account for traders. There is a wide range of forex tools you can use for free. Their customer support is available 24/5. The customer services department supports up to 17 languages.
FXOpen is a broker founded in 2005. It has a headquarter in Auckland, New Zealand. It also have other branches in different countries such as Paris, and Cairo. FxOpen is regulated by ASIC, and FCA. Just like other brokers, they offer the MetaTrader 4 platform. You can start trading in your account with as little as $1. It has a swift deposit and withdrawal process. FXOpen offers fixed spreads for ECN and market makers account. FXOpen offers a Meta Trader 4 demo account that last for 30 days.
FXCM is a New York based forex broker founded in 1999. There are more than 50 currency pairs you can trade. FXCM offers a tight spread that starts from 1 pip. They offer more trading tools than other brokers. The resource center has lots of high quality forex training videos and articles. The video lessons cover both basic and advanced trading concepts. FXCM has a relatively high minimum deposit of $2000. They support a few types of trading platforms such as Active Trader, MT4, Mirror Trader and Trading Station Gateway. FXCM allows US traders.
FXGrow is a well regulated forex broker that belonged to Growell Capital. The broker was founded in 2004. FXGrow is regulated by a number of brokers including CYSEC, BaFIN, FSA, CNMV, HCMC, and ACP. To open an account, you need to deposit a minimum of $100. They offer a proprietary platform called GrowStation for traders. They also offer MT4 platform for traders. They offer 24/5 customer support through phone, chat and email. Scalping is allowed in FXGrow.