Best Forex Broker For Scalping - Singapore Forex Trading, Singapore Forex Academy, Singapore Forex Association

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Best Forex Broker For Scalping

Hi Guys, I want to give a little review and also expects input from all friends.

At the beginning of this year, I tried to develop a new strategy. And this strategy is scalping techniques.

Previously I was a swing trader.

During this time, I do not really pay attention to spread, as any spread to 5 is small in my opinion. because the target Tp I used about 100 pips.

But in my latest techniques scalping, spreads become very very must be considered.

Since scalping has an average below 10 pips TP. Even for extreme scalper, TP between 1-3 pips only.

Results my scalping techniques with simulator : (225x trade no loss, 500% profit in 3.5 months)

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Criteria best brokers for scalping in my opinion:
1. Brokers allow all trading including scalping techniques
2. Non Dealing Desk / ECN
3. Clearly regulated.
4. Offering high leverage.
6. No bad reports (Such traders do not get paid, etc.).

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After searching the forums, I was (until recently) found there are 3 recommended brokers for scalping trade.

1. IC Markets
2. Armada Markets
3. Pepperstone

This is the appearance of the brokers spread above:
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(The three brokers above using 5 digit . So the point spread 2 pips = 0.2 pip in brokers 4 digits.)

In the picture above, it looks IC Market has the lowest spread, which is 0.2 pips, followed by Armada Market 0.5 pips and Pepperstone 0.6 pips last.

What about the commission? Let's see:
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 From the picture above, it seen that the lowest commission is $ 5.15/lot Armada markets, followed by IC amarket $ 7/Lot and pepperstone $ 7.53/Lot.

So if we look at the total spreads and commissions, we get:
IC market
Spread: 0.2 pips
Commission: $ 7/Lot. Value of 1 Lot = $ 9.6/pips. So the commission is worth 7/9.6 = 0.73 pips
Total spread + commission on IC Markets EURUSD = 0.2 +0.73 = 0.93 pips.

Armada Markets
Spread: 0.5 pips
Commission: $ 5.15/Lot. Value of 1 Lot = $ 10/Pips. So the commission is worth 15/05/10 = 0515 pips (rounded 00:52 pips)
Total spread + commission in the Fleet Markets EURUSD = 0.5 + 0.52 = 1.02 pips

Spread: 0.6 Pips
Commission: $ 7.53/Lot. Value of 1 Lot = $ 10/Pips. So the commission is worth 7.53/10 = 0753 pips (0.75 rounded pips)
Total spread + commission Pepperstone EURUSD = 0.6 + 0.75 = 1.35 pips

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From data above, we get:
1. IC Market, the EU total trade cost: 0.93 pips
2. Fleet Markets, the EU total trade cost: 1.02 pips
3. Pepperstone, the EU total trade cost: 1.35 pips

Looks like IC market is a broker with the lowest trade cost.

But please remember, the third broker uses dynamic spread. Where spread fluctuations depends on the order in the market (supply-demand).

My conclusion so far, the three broker above is the best broker for scalping. They has a good reputation, and they are recommended.

If there are friends who have experience with this third broker, please share here.