Forex trading is far and away one of the most popular avenues for trading online at the moment. That is why more and more traders are looking to improve their results with forex trading strategies.
One of these strategies is called forex scalping. It has become a stalwart of many of the most successful forex traders in the industry right now. Before you can start scalping on forex, you first need to find a broker that is going to allow you to do so. We give you a closer look at what to look for in a forex scalping broker.
Who should make use of the comparison
Here at Wetten, we have put together our forex scalping comparison not only to help more novice traders but to aid experienced traders in finding the best brokers as well. Forex scalping needs to take into consideration the dynamism of a brokers’ daily spreads, as you open and close trade positions sometimes within a matter of minutes throughout the day.
Our comparison is great for newer traders as we point out what some of the more important factors are to look out for in the best forex scalping brokers in Australia. We even gave you a little push in the right direction with our editor’s pick for the best low spread forex brokers scalping around. If you’re still shaky on what forex trading is then take a look at our forex trading for beginners guide.
More experienced traders aren’t left out in the cold though, as our comparison also provides you with some expert tips on how to improve your forex scalping. You can also check out how our experts test forex scalping brokers to see what else you should be taking into consideration.
We have also put together our forex scalping strategy guide to help you take your forex scalping skills to the next level with the best strategies currently being used by professional traders.
Operator Checklist: Top5 steps for a secure & fair trading experience
Before you go rushing into the first half-decent online broker you see for your low spread forex brokers scalping, there are a couple of important steps you need to consider first. We always keep the following steps in mind when we conduct our reviews and you should too:
First and foremost of these important factors is the security protocols in place on the broker’s platform. There are a couple of things to consider in this regard but what you really want to look out for is whether or not the broker is protecting your data with the latest in SSL encryption technology. This helps to shield your sensitive data from the hands of nefarious third parties.
Look out if there is a two-step authentication factor in place for your account sign-ins or your deposits and withdrawals. This ensures that getting into your accounts or conducting a transaction is much more difficult to do for anyone but yourself.
The next factor we check for is to make sure that the broker has all the necessary broker licenses and that they are being regulated by official financial authorities like the Australian Securities and Investments Commission (ASIC). This ensures that the forex scalping broker is operating above board. Having this information on hand helps to ensure that you feel safe using these low spread forex brokers scalping sites.
While many brokers have curated their own in-house trading platforms, it’s always a good sign when they include the likes of TradingView, MetaTrader 4 or NinjaTrader to their list of available trading platforms. Reputable trading platforms that you can trust are a must on these broker sites as these are the tools you will be using for your everyday scalping on forex trading strategy.
While it may not seem to be at the top of the food chain in terms of important aspects of a broker site, customer service is imperative. You need to be able to contact the support staff on the brokers’ platform with ease. We check for contact methods like a live chat feature, telephone number and email address. There may even at times be a bot that you can interact with to find information on the site more swiftly. All in all, the customer support team needs to be professional and caring with their customers at all times.
It is always worthwhile to check out a few user reviews about a particular forex scalping broker. User experiences from the past can give you an idea about what your own experience might be in the near future with that broker. Of course, you may want to take some of these reviews with a pinch of salt. You can always check out our forex scalping broker reviews and rankings at Wetten as well.
Editor’s recommendation – the best broker for scalping on forex
We know how tough it can be to make a selection from the tons of different brokers out there right now. That is why we want to give you a little nudge in the right direction with our editor’s recommendation for the best forex scalping broker.
Our recommendation is none other than FP Markets. At FP Markets you will find consistently low average spreads for currency pairs on the site. You’ll also have access to over 60+ currency pairs. Not only is the platform forex scalping friendly but it also gives traders top-quality customer service, a plethora of payment methods, low average trading fees and the ability to use both MetaTrader 4 and MetaTrader 5.
It was a fairly easy recommendation to make as FP Markets have done nothing but grow and prosper in recent years. Their ability to attract new traders to the site in recent times has been almost second to none.
This is how our experts test low spread forex brokers scalping
At Wetten, we conduct countless broker reviews. No really, we lost count ages ago. However, we don’t just shoot from the hip, as we stick to a set of important criteria to curate objective, unbiased forex trading reviews. Here are a couple of the most important things that we look at to test the overall quality of these forex scalping brokers.
Website functionality: our forex scalping reviews make sure to take into account the overall functionality and usability of these platforms. We test the layout, navigation qualities and the general speed at which the pages load.
Account options: our reviews check out what accounts are available on the site and what each account is offering you. We check to see what makes each of these accounts unique and how they differ from one another.
Fees: nobody likes paying any kind of fees really but they are still present on these sites. We give you a detailed breakdown of what some of the fees are and how much you’ll have to pay on transactions. We include things like your average spreads, potential commissions and deposit and withdrawal fees.
Available trading platforms: forex scalping brokers should be making a decent selection of reputable trading platforms available to you. We shed some light on your available options with each broker.
Payment methods: we give you a closer look at how you can fund your account with forex brokers low spread. A diverse range of payment methods is an important way for the broker to attract more traders to the platform.
Customer service: our reviews of the best forex scalping brokers makes sure to consider the different ways you can contact the broker. As well as the overall quality of the customer service.
Regulation & safety: we put any fears you may have about the broker to rest by giving you a detailed look at what financial authorities regulate the platform. We also make sure to tell you how the broker protects your capital investments.
Trading instruments: and last but not least, we give you an in-depth analysis of what trading instruments you can trade with on the site. In this case, a detailed look at the available currency pairs and spreads is where we would start.
Finding the right broker for you
There is every chance that you have already found one of the best low spread forex brokers scalping out there already. Whether or not you have, our broker reviews at Wetten will give you some more food for thought on who the best up and coming forex scalping brokers are. We can even give you some detailed knowledge on how to trade forex in Australia.
If you are still unsure about what forex scalping broker you want to go with, it would be a good idea to take a look at our reviews. While doing so, try to keep a few of your personal preferences in mind so that you can help yourself to narrow the search. Identify what the most important sections of these platforms are to you personally and you can quickly start to sieve out the brokers you don’t want to use from our list of our reviews.
It really all depends on your personal preferences, we can point you in the right direction but you will ultimately need to make the choice at the end of the day. You may even want to find a broker where you can not only use your forex scalping strategies but where you can use your forex hedging strategies as well.
Most important sections of the site
Now that you are a little more familiar with how you can find the best forex scalping brokers in Australia, you may want to expand your trading horizons. We are by no means a one-trick pony here at Wetten, as our site provides you with a wealth of information on all things trading. Our site gives you sight into a host of different trading niches and more popular strategies and trading instruments as well. We do so in the form of guides and reviews. Looking for the best cryptocurrency brokers in the industry? Just want to know what cryptocurrencies are all about? We have got you covered.
We cover everything you could possibly think of with our own dedicated review or guide. Everything from individual trading instruments like forex, cryptos, commodities, and indices to finding the lowest fees and best trading platforms. We do our utmost to leave absolutely nothing out of our reviews and guides. You can give yourself the best chance to not only improve your trading knowledge but to find where the best destination is for you to use that knowledge as well. We can even help you find the forex broker with the lowest spread.
And of course, we don’t just give you incredibly useful pieces on all things trading, we also give you detailed reviews of each broker that is available to trade within Australia as well. Our broker reviews are insightful, objective and unbiased as we try to give you all the information on these brokers in easy to read reviews. These reviews, along with all of our informative pieces, are put together by our team of experts. Our experts conduct countless hours of research so you can rest assured that these pieces are up to date with the latest information and changes to these brokers.
At Wetten, our goal was to create a base of operations for you to make your way back to at any point. We are always updating our site with the newest information and reviews of the latest online brokerage firms. We are also always updating our broker rankings as well so you pop in to check who is currently holding the top spot that week.
A scalping on forex trading strategy can be a lucrative path to take when done correctly. This strategy of course carries its own risks but with a bit of practice, it can lead to successful trading outcomes. In order to carry out your scalping on forex strategy successfully, you will first need to find a broker who is going to facilitate this for you.
You should now have a much clearer idea about what to look out for in the best low spread forex brokers scalping sites. This information coupled with our in-depth reviews will have you executing your forex scalping strategy on the best broker’s platform in no time.
If you are interested in further expanding your trading knowledge then we highly recommend that you take a look at our guide on where you can find the best forex brokers in Australia or the best forex demo account right now.
Forex Broker With Lowest Spread FAQ
🏆 How do I find the best broker for scalping on forex?
In this day and age, you almost have too many options when it comes to your broker choices. This remains true when trying to decide what scalping broker low spread to use as well. Fear not, our comparison will help you to sieve the wheat from the chaff and find a broker that is going to provide you with low average spreads and the top trading platforms to make use of as well.
📋How do I sign up to a forex scalping broker’s site?
The signup process for the plethora of different forex scalping brokers out there may vary, which is why we conduct individual reviews for all of them. We cover everything you need to know in our broker reviews, including how you can go about creating your account on the broker’s platform.
❓ What should I consider about the brokers’ daily spreads?
In order to conduct a successful forex scalping strategy, you will need to find a broker that is going to give you the right kind of average spreads on their currency pairs. At Wetten, we take this into consideration as we leave no stone unturned in our broker reviews. You’ll know exactly how dynamic a broker’s spreads are and how viable a forex scalping strategy is with them as well.
☝Who is the best forex scalping broker at the moment?
It can be tough to pick an outright favourite when it comes to forex scalping brokers. With that being said, our comparison can give you a push in the right direction with our editor’s recommendation for the best forex scalping broker right now. We give you a brief look at one of our personal favourites.
🔏 Is forex scalping a safe trading strategy to use?
Forex scalping is a trading strategy that is used by more experienced traders. As such, it has its own set of advantages and risks. We’ll give you some insight into what these advantages and risks are and whether or not forex scalping is a safe strategy to use on the whole.