Best Brokers for Scalping Crypto
As traders, we all have different trading styles and strategies. The choice of strategy might be because of current market conditions or your unique trading style. Scalping is a trading style wherein a trader holds a trade for a very short time (a few seconds or minutes) to catch small profits from the financial markets. As a trader that is involved in scalping crypto, it is important to ensure that your chosen broker supports scalping.
The fact is that not all brokers support scalping financial instruments like crypto, forex, stocks, and other CFDs. For example, eToro is a great broker but the company does not allow scalping. The point is that you might think a broker supports scalping but they may not! That’s why we have compiled this list of the best brokers for scalping crypto. You confirming that your chosen broker supports scalping crypto is just the first step. This is because when scalping, things happen so fast and you expect to make profits with tiny market movements.
Hence, it is important to choose brokers with very low spreads, tiny commissions, and fast execution times. We have done the hard work and can assure you that all brokers on this list are great for scalping crypto. That is, provided you know your trading strategy well and have a great trading plan. Okay, let’s dive in.
FP MarketsFP Markets prides itself on its “performance-driven technology and ultra-low spreads”. Their Trustpilot reviews with an average of 4.9 (out of 5.0) from about 3,500 vetted customers are proof that FP Markets is doing something right. FP Market is a trusted and regulated CFDs broker established in 2005 with tight spreads, fast execution, and flexible leverage. You can easily deposit funds into your trading account via credit/debit cards, direct bank transfers, popular payment gateways like skill, or online banking.There is no withdrawal fee for debit/credit cards and domestic bank wire but other payment gateways have withdrawal fees. Debit/credit cards and domestic bank wire takes only 1 business day to process withdrawals and is a very convenient option for most traders. FP Markets is popular among traders including those that scalp crypto. Both Metatrader4 and Metatrader5 platforms allow crypto trading across both mobile and desktop devices.
You can customize your trading interface, place a trade with just one click, and monitor live prices in the Market Watch.
73.85% of retail CFD accounts lose money
Exness is an internationally regulated broker with spreads from as low as 0.3 on the standard account and 0.0/0.1 on its professional accounts. There is zero- commission on all crypto trades placed on standard accounts which is great for trading beginners. Also, you can place trades 24/7 on over 35 crypto pairs without swap payment. These features of Exness make the cost of placing a scalping trade as low as possible. If you are a trader that loves to be unrestricted with leverage, some Exness accounts have unlimited leverage. Though, you should be cautious and use leverage wisely to avoid blowing up your trading account. Please note, that Exness, unfortunately, does not provide its services to traders from the EEA countries.
You can easily deposit and withdraw money via popular cryptocurrencies, payment gateways, and even in your local currency. No worries, Exness pays all deposit and withdrawal fees. Exness is very suitable for scalping crypto but they do even more. The company gives support to local grassroots organizations and supports Education, the Environment, and Emergencies. A broker that gives back to society is definitely worth considering.
Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.
AvaTrade is a reliable broker which is regulated by different bodies across the globe and you can trade Bitcoin and other cryptocurrencies with competitive spreads. Unlike some exchanges, reliable brokers like AvaTrade do not charge hidden transaction fees. AvaTrade is a zero-commission broker and there are no transaction fees for withdrawals and deposits. However, you will be charged fairly tight spreads on all trades.
On Trustpilot, AvaTrade has many positive reviews with an average of 4.7 (out of 5.0) from over 7,200 vetted customers. It is evident that many clients enjoy their experience with AvaTrade. You can use global trading platforms like Metatrader4 and MetaTrader5 or AvaTrade’s unique platforms. These platforms support both manual and automated trading. For instance, you may want an automated copy of your trades from one account to another account.
If one of your successful trading strategies is scalping crypto, AvaTrade has reasonable trading costs for you. You can even open a demo account to practice any new scalping strategy before implementing it in the live market.
76% of retail CFD accounts lose money
Crypto traders can profit even when the market is bearish and hodlers are losing money. Forex.com, despite its name, is not only for forex trading but also allows crypto trading. This broker provides one of the lowest trading costs for popular crypto pairs. This broker has existed for more than 20 years. They have tight spreads, fast execution, and 24/7 live customer support. Though crypto trading with forex.com isn’t available on MT4, traders can use MT5 which has improved charts and more indicators.
Cryptocurrencies available for trading are Bitcoin, Litecoin, Ethereum, and Ripple. You can go long or short on these popular cryptos without owning a wallet or dealing with exchanges. Trading hours for crypto on Forex.com are 22:00 Sunday – 22:00 Friday. On TrustPilot, many customers complain about poor customer service from Forex.com but that doesn’t mean they don’t have a great trading platform. There are also a handful of clients that are satisfied with forex.com customer service and trading platforms. Forex.com is also one of a few brokers that accept US clients. However, US clients can trade here only forex, commodities and futures.
Forex.com has low trading costs for you if you are a crypto scalper. They are also a regulated broker that can be trusted not to disappear with your funds.
81% of retail investor accounts lose money when trading CFDs with this provider.
XTB (X-Trade Brokers)XTB is a worldwide regulated broker with offices in over 13 countries including the UK, Poland, Germany, France, and Chile. You have access to trade 49 crypto instruments including popular ones like Bitcoin, Ethereum, Cardano, and Chainlink. XStation 5 is XTB’s innovative trading platform. It is one of the best trading platforms on the market and even got an award from Online Personal Wealth Awards as the ‘Best Trading Platform 2016’.
There is a desktop and mobile version of XStation 5 and it’s suitable for both experienced and new traders. At XTB, the crypto market is open 24/7 with low trading costs and spreads starting from 0.22%. Also, XTB is known to be safe and secure. They have a user base of 495,000+ clients and 24/7 customer support. It is also one of the most popular CFD and Forex brokers in the UK. It is easy to get started with a demo account and you get 30 days of free access to the XTB trading platform. As a broker regulated by major worldwide authorities, your investment is safe with XTB.
There are over 48 million registered IQ Option users across different countries. IQ Option gives traders leverage and a fairly tight spread to trade popular cryptocurrencies like Bitcoin, BNB, Ripple, and Ethereum. You can easily deposit and withdraw via Visacard, Mastercard, or Webmoney, among others.
IQ Option has high liquidity due to its monthly trading volume of more than $11B. As a crypto scalper, this means you get competitive pricing and fast trade execution. Also, there is 24/7 customer support ready to address the challenges you may encounter. This broker provides trading flexibility as you can access the trading platform from desktop, web, IOS, and android apps.
When you are ready, it is easy to get started with IQ Options. Just register, deposit funds and start trading. IQ Option has its own trading platform suitable for both advanced and new traders. This platform won an award from “Forex Awards 2014” as the best trading platform. In addition, there is the IQ Option Charitable Foundation which is dedicated to the cause of children. If you decide to trade crypto with this broker, a part of the trading costs you pay may go to this charity’s cause.
Conclusion on the Brokers for Scalping Crypto
As a crypto scalper, you need to be very conscious of trading costs such as commissions, spreads, and swaps. Apart from trading costs, we also need to ensure the brokers we use are regulated. Also, we need to check out customers’ reviews to get a large sample size opinion of a broker’s customer service team and trading platforms. All brokers listed above are good for scalping crypto. You should do further research before choosing a broker. You can even contact their customer support to get a feel of their customer service. You are now equipped with a list of internationally regulated and trusted brokers that are great for scalping crypto. Trade green!