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With the growth of internet connectivity, online FX brokers have become quite popular. Various traders apply several strategies to profit from the forex market. However, the outcome of a trade depends on the quality of the brokers the trader has chosen. When it comes to scalping strategies, most well-established brokers have official rules in place to allow scalping techniques. There are some others that make scalping very difficult or unprofitable which discourages users. Luckily, we’ve decided to present some of the best FX brokers for scalping.
Stockoza
Stockoza is an online brokers established in 2021, registered out of Saint Vincent and the Grenadines. The broker mainly focuses on offering trading services for currencies, stocks, commodities, indices, and others. The brokers support trading in more than 500 markets, including currency pairs, precious metals, energies, agricultural commodities, more than 300 shares, and 40+ indices.
When it comes to scalping forex strategies, most well-established brokers have official rules in place to allow scalping techniques.
The broker offers 5 types of accounts – Intermediate, advanced, Pro, Beginner, expert, and VIP. Additionally, the broker provides more than 100 charts, more than 80 technical indicators, and more than 40 analysis tools which make it a comprehensive platform. Â
CryptoIFX
CryptolFX is a cryptocurrency broker based out of St. Vincent & the Grenadines. It is also another relatively new cryptocurrency broker which provides trading in other markets, including currency pairs, stocks, derivatives, commodities, spot metals, and indices. Traders will find some of the more secured funding options in the market with this broker.
It allows fast withdrawal without charges. Users have access to more than 500 financial instruments on an intuitive and easy-to-use platform. The broker also provides a substantial amount of educational resources and market analysis tools.
Greendax
Greendax is a new online brokers focusing on delivering a quality trading environment., launched in 2022. Greendax supports trading in six markets including FX and cryptocurrencies. Users can directly access 1200 assets spread across currencies, commodities, spot metal, indices, and stocks to name a few. Greendax offers six different trading accounts for users – Beginner, Standard, Intermediate, Advanced, Integral, and VIP.
NordFX
Established in 2008, NordFX is an FX broker which also provides Copy trading. The broker offers 33 currency pairs, gold, silver, 11 crypto pairs, 6 CFD indices, and 64 stocks for trading on the MetaTrader 4 terminal.
Users do not need to spend time on complicated signing-up and registration processes to open an account. They can simply deposit funds using an online payment system. The broker also provides PAMM accounts, stock trading, and 2 level partner programs.
HFM
HFM is an award-winning Forex brokers which provides trading in FX, spot metals, CFDs on Commodities, Indices, Oil and Shares, cryptocurrencies, and bonds. The brokers offer several account types, trading software, and tools to facilitate traders according to their preferences. It allows trading on HFM MT4, HFM MT5, and the HFM PAMM System which are the company’s customized versions of MetaTrader. In addition, the broker also supports the original MT4 and MT5. It provides retail traders, affiliates and white label clients access to interbank spreads and liquidity.
Grand Capital
Grand Capital is an international brokerage that was founded in 2006. Grand Capital provides more than 500 instruments are available on MetaTrader 4 and 5, including currency pairs, cryptocurrencies, metals, indices, stocks of major corporations, as well as various CFDs on currencies, indices, metals, stocks of the world’s major brands, oil, futures, and timber. Users have six account options to choose from – Standard, Crypto, Micro, SwapFree, ECN Prime, and MT5.
IFC Markets
IFC Markets is a well-known online brokers which provides trading in currency pairs, precious metals, index CFDs, stock CFDs, and commodity CFDs. The brokers has also launched GeWorko, an innovative trading method. It allows users to create personal composite instruments on NetTrade X and obtain their price history.
Conclusion
With internet connectivity, retail traders have more access to trading instruments than ever before. However, it is also a fact that the number of brokers has exponentially increased in the last few years, with some fraudulent entities existing too.
Traders have to be extra vigilant when they select a broker, as there are high chances of falling victim to elaborate scams and losing a fortune. This is why it’s a good idea to conduct detailed research instead of blindly investing in a broker.
