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TradingPlatforms Forex trading platform UK 6 Best Trading Platforms For Scalping in the UK July 2024

6 Best Trading Platforms For Scalping in the UK November 2024

Nishit Kumar Finance Writer and Analyst Author expertise
Updated:
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Scalp trading is a short-term trading strategy in which traders buy and sell assets with the aim of taking advantage of small price movements. The aim of scalping is to potentially reduce risk and exposure by reducing the amount of time for which trades are open. However, due to the nature of placing trades quickly, scalping can be very volatile and profits are not guaranteed.

In this guide, we will help you find scalping trading platforms that UK traders are accepted at in 2024.

6 Best Trading Platforms For Scalping in the UK

Scalping is a popular strategy among short-term traders, and therefore, there are a lot of platforms that are suitable for this purpose in the UK. Here is a list of some forex brokers that offer scalping in the UK.

  1. XTB: XTB provides a comprehensive educational toolkit, making it suitable for less-experienced scalp traders. Users can access market analysis for informed decision-making. A demo account offers risk-free practice. Scalpers benefit from fast execution speeds and no minimum deposit requirements.
  2. AvaTrade: Avatrade appeals to experienced traders seeking advanced tools, high leverage, and a range of financial assets. It supports MT4, MT5, and offers automated trading options like DupliTrade and ZuluTrade.
  3. Admiral Markets: Admiral Markets is an online trading broker specializing in scalping, serving over 10,000 customers in 80 countries. Established in 2001, it offers MetaTrader 4 and 5 platforms, foreign currencies, and CFDs. With over 8000 assets, including 3000 stocks, 370+ ETFs, 80 currency pairs, 43 indices, and treasury bonds, Admiral Markets provides extensive education and analysis services.
  4. Pepperstone: Pepperstone is a regulated broker with over 300,000 clients worldwide, offering over 1200 forex instruments and CFDs. Founded in 2010, it operates on popular platforms like MT4, MT5, and CTrader. It offers commission-free trading on its Standard account, allowing scalping traders to use custom strategies.
  5. Trade Nation: Trade Nation is a UK-based cfd and spread betting platform supporting scalp trading. Educational resources and tools enhance scalp trading strategies. The regulated signals service aids decision-making, particularly for less-experienced traders.
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8 Providers that match your filters

Payment methods

Features

Customer service

Classification

1or more

Mobile App

1or more

Fixed commissions per operation

£1or more

Account Fee

£1or more

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Buy shares and ETFs with low commissions
  • Social and copy trading network
  • Invest and trade crypto with low fees
Fixed commissions per operation
Account Fee
Mobile App
9/10
Features
Cfds Copy Portfolio Etfs Funds Krypto Robo Advisor Stocks
Payment methods
Bank Transfer
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
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51% of retail investor accounts lose money when trading CFDs with this provider.

Account Info

Account From
£10
Deposit fees
£0
ETFS
300+
Inactivity fees
£10/month after 12 months
Leverage
Maximum 1:30, minimum 1:2
Operating margin
Yes
Minimum operation
£10
Stocks
3 000+
CFD Position
Fees are charged relative to the value of the position
CFDS
3 000+
Trading fees
£0
Withdrawal fees
£5

Fees per operation

Bonds
-
Cryptocurrencies
1%
CFDS
Spread – Currency from 1 PIP, commodities from 2 PIPS, indices from 0,75 points, stocks and ETFs from 0,15 %
DAX
N/A
Copy Portfolio
0%
ETFS
No commission
CFD Position
Yes, depending on the market that you trade
Stocks
Variable commissions
Savings Plan
NA
Robo Advisor
No additional charge for copy trading
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Commission-Free Trading
  • Free Demo Trading
  • Large number of tradeable assets
Fixed commissions per operation
Account Fee
Mobile App
8/10
Features
Cfds Etfs Krypto Stocks
Payment methods
Credit Card Paypal Sepa Transfer Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.

Account Info

Account From
£1
Deposit fees
£0
ETFS
130+
Inactivity fees
£0
Leverage
1:30
Operating margin
Yes
Minimum operation
0,01 lot
Stocks
2100+
CFD Position
XTB charges a 'swap' which is dependant on lot size and market.
CFDS
2100+
Trading fees
£0
Withdrawal fees
£0

Fees per operation

Bonds
N/A
Cryptocurrencies
No commission, spread on CFDs from 0.22%
CFDS
No commission, spread depending on market you trade
DAX
Spread from 0.9 pips
Copy Portfolio
N/A
ETFS
No commission
CFD Position
Yes, depending on the market that you trade
Stocks
No commission (UP TO EUR 100,000 MONTHLY TURNOVER)
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Commission-free trading
  • Wide number of instruments available
  • Free demo trading account
Fixed commissions per operation
Account Fee
Mobile App
9/10
Features
Bonds Cfds Etfs Krypto Stocks
Payment methods
Bank Transfer Credit Card Neteller Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Account Info

Account From
£1
Deposit fees
£0
ETFS
+50
Inactivity fees
£0
Leverage
1:500
Operating margin
Yes
Minimum operation
0,01 lot
Stocks
+100
CFD Position
Variable
CFDS
+100
Trading fees
£0
Withdrawal fees
£0

Fees per operation

Bonds
Variable
Cryptocurrencies
N/A
CFDS
No commission, spread depending on market you trade
DAX
N/A
Copy Portfolio
N/A
ETFS
N/A
CFD Position
Yes, depending on the market that you trade
Stocks
N/A
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Users can access daily market analysis and real-time data
  • Low commissions and tight spreads
  • Available on mobile
Fixed commissions per operation
Account Fee
Mobile App
7/10
Features
Bonds Cfds Etfs Funds Krypto Stocks
Payment methods
Bank Transfer Credit Card Neteller Paypal Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

76% of retail investor accounts lose money when trading CFDs with this provider.

Account Info

Account From
$100
Deposit fees
$0
ETFS
60+ (only CFDs)
Inactivity fees
$50 after 3 months
Leverage
1:30
Operating margin
Yes
Minimum operation
0.001 Lot
Stocks
90+ (only CFDs)
CFD Position
Daily swap rate of 0.0058%
CFDS
1000+
Trading fees
$0
Withdrawal fees
$0

Fees per operation

Bonds
0.03 - 0.06 pips
Cryptocurrencies
Spreads, 0.1 – 2% markup across different cryptocurrencies
CFDS
Spreads, 0.1 – 2% markup across different assets
DAX
Variable spread
Copy Portfolio
-
ETFS
Spread, 5%
CFD Position
Yes, depending on the market that you trade
Stocks
Spreads, 0.13 – 0.2% markup across different stocks
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Trade over 8000 financial assets
  • It is possible to trade CFDs and place spread bets
  • Low commissions and fees
Fixed commissions per operation
Account Fee
Mobile App
6/10
Features
Bonds Cfds Etfs Funds Stocks
Payment methods
Bank Transfer Credit Card Neteller Paypal Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

67.3% of CFD clients lose money.

Account Info

Account From
£100
Deposit fees
£0
ETFS
360+
Inactivity fees
£10 equivalent/per month after 24 months
Leverage
1:30
Operating margin
Yes
Minimum operation
€1
Stocks
3000+
CFD Position
Variable spreads
CFDS
4000+
Trading fees
Spreads
Withdrawal fees
1 Free withdraw/ month, 1€ thereafter

Fees per operation

Bonds
Spreads, depending on the market that you trade
Cryptocurrencies
Spreads, depending on the market that you trade
CFDS
Spreads, depending on the market that you trade
DAX
-
Copy Portfolio
-
ETFS
$0.02 per share
CFD Position
Yes, depending on the market that you trade
Stocks
$0.02 per US share, 0.1% – 0.15% for other markets
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Zero commissions, low fees and tight spreads
  • +Insights feature tracking customers' activity
  • Access to over 2800 financial instruments
Fixed commissions per operation
Account Fee
Mobile App
6/10
Features
Cfds Etfs Funds Stocks
Payment methods
Bank Transfer Credit Card Paypal Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

81% of retail investor accounts lose money when trading CFDs with this provider.

Account Info

Account From
£100
Deposit fees
-
ETFS
90+ (Only CFDs)
Inactivity fees
£10 per month after 3 months
Leverage
Forex 1:30, Share & ETFs 1:5
Operating margin
Yes
Minimum operation
Varies on asset
Stocks
1500+
CFD Position
% relative to size of position and position value
CFDS
2800+
Trading fees
-
Withdrawal fees
-

Fees per operation

Bonds
-
Cryptocurrencies
Spread, depending on the market that you trade
CFDS
0.7 - 2 pips
DAX
commissions and variable spreads
Copy Portfolio
N?A
ETFS
Spread, depending on the market that you trade
CFD Position
Yes, depending on the market that you trade
Stocks
0.7 - 2 pips
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Low trading commissions
  • Zero withdrawal or inactivity fees
  • Trade Nation is compatible with MT4
Fixed commissions per operation
Account Fee
Mobile App
5/10
Features
Bonds Cfds Copy Portfolio Robo Advisor Stocks
Payment methods
Bank Transfer Credit Card Neteller Skrill
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

75% of retail investor accounts lose money when trading CFDs with this provider.

Account Info

Account From
£0
Deposit fees
£0
ETFS
Variable spreads from 0.45 points
Inactivity fees
£0
Leverage
1:30
Operating margin
Yes
Minimum operation
£0
Stocks
1500+
CFD Position
2.5%
CFDS
100+
Trading fees
Spreads
Withdrawal fees
£0

Fees per operation

Bonds
1.8
Cryptocurrencies
N/A
CFDS
Yes, spreads from 0.3
DAX
From 0.9
Copy Portfolio
-
ETFS
0.45 points
CFD Position
Yes, depending on the market that you trade
Stocks
0.1%
Savings Plan
N/A
Robo Advisor
Variable spread
Funds
N/A

Rating

Total Fees (for 12 months)
£ 0
What we like
  • Trade Volatility 75 with cTrader
  • Integrates with MT4 and MT5 trading platforms
  • Very low VIX trading spreads
Fixed commissions per operation
Account Fee
Mobile App
7/10
Features
Cfds Etfs Krypto Stocks
Payment methods
Credit Card Paypal Sepa Transfer
Total Fees (for 12 months)
£ 0
Read Reviews
Visit Site
Read Reviews

75.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Account Info

Account From
$0
Deposit fees
$0
ETFS
100+ (CFDs only)
Inactivity fees
$0
Leverage
1:30
Operating margin
Yes
Minimum operation
$0
Stocks
600+ (only CFDs)
CFD Position
0.05556%
CFDS
1200+
Trading fees
Spreads
Withdrawal fees
$0

Fees per operation

Bonds
N/A
Cryptocurrencies
No commission, spread on CFDs
CFDS
Spreads, depending on the market that you trade
DAX
-
Copy Portfolio
N?A
ETFS
Yes, depending on the market that you trade
CFD Position
Yes, depending on the market that you trade
Stocks
No commission, spread on CFDs
Savings Plan
N/A
Robo Advisor
N/A
Funds
N/A

What Is Scalping?

Put very simply, scalp trading is a strategy that involves profiting from short-term price movements. This is done over short timeframes, relying on the number of trades rather than the quality. This means that, instead of making a few high-profit trades, the trader makes several low-profit trades, thus spreading out the risk and minimising the possibility of losses.

what is scalping

This is done through the use of a methodical trading framework, where a trader pre-sets a collection of conditions and a universal set of securities that they are interested in trading. Whenever a security from the universal set satisfies their set of conditions, they open a trade and close it shortly thereafter. In such trading strategies, it does not matter if a few trades are closed on a loss, as long as the net figure is positive.

Most scalp traders use differing timeframes depending on their preferences and their level of expertise. There have been a few questions raised and allegations made as to whether scalping is illegal, but as long as it is done within legal parameters, it is 100% within the confines of the law. While the usual time to hold a trade for beginners is between 1 and 15 minutes, experienced traders sometimes only hold positions for a matter of seconds.

What Assets Can Be Used for Scalp Trading?

It is possible to do scalp trading with a variety of instruments however, the most popular asset for scalp trading in the UK is forex, or foreign exchange. The forex markets operate 24 hours a day, five days a week, providing traders with plenty of opportunities to capitalize on short-term price movements. With high leverage available in the forex market, traders can amplify their gains from small price fluctuations. However, it is important to note that forex trading involves significant risk due to the volatility of currency pairs.

Stocks can also be sued for scalp trading in the UK however, the stock market is not open 24/7. Stocks offer high liquidity, allowing traders to enter and exit positions quickly. Stocks also provide ample trading opportunities due to the constant fluctuation of prices. Traders often focus on highly liquid stocks with large trading volumes to avoid slippage and ensure smooth execution of their trades.

Common Scalping Strategies

While scalp trading itself is a strategy of trading that seeks to minimize risk by spreading it out among a variety of trades, there are several strategies within scalp trading that are employed to maximise the probability of profits. Some scalp trading strategies that are employed by traders at all levels of expertise have been discussed below in detail.

1 Minute Scalping Trading Strategy

This is a common strategy among scalp traders. As the name suggests, this strategy involves not holding positions for longer than a minute. This allows traders to open and close numerous positions within one trading day, maximizing profits. At the same time, it also reduces risk by reducing the timeframe in which the stock price can turn against you and result in a loss. The strategy is typically used alongside a signal or stock picking software to ensure that trades are backed by analysis.

RSI Scalping Forex Trading Strategy

This strategy uses the Relative Strength Index (RSI) indicator. This is a technical indicator that helps traders in identifying when securities are overbought or oversold, indicating that there is a high probability of a trend reversal. An RSI of above 70 indicates that the security is overbought and that the price might start falling soon, and an RSI below 30 indicates oversold security that might start rallying upwards soon.

There are several different scalp trading strategies that make use of the RSI. The simplest is to select a set of stocks, and trade whenever the RSI shows a number that’s below 30 or above 70. If the RSI is below 30, then traders might buy or go long on the security, and vice versa if the RSI is above 70.

Bid and Ask Market Making

This is a complicated scalping strategy. In this strategy, the trader places a buy and sell order at the same time, trying to benefit from the difference in the spread. Generally, the bid and ask prices of a security are not the same, and this difference is called the spread. It is one of the ways in which brokerage firms make money. In the Bid and Ask Market Making strategy, the trader tries to buy and sell the security simultaneously, and pocket the difference in the prices.

This strategy is not easy to apply, as there are several requirements for this. For starters, you need to use an ECN/STP broker as opposed to a market maker broker. At the same time, you also will need a broker that gives you access to the level 2 order book and offers zero spreads. High execution times are also absolutely crucial, as the entire strategy fails if your order does not go through in time.

Best Scalping Brokers in the UK Reviewed

Each of those brokerages and trading platforms discussed above are suitable for different types of traders. Traders should spend time researching the different platforms that are available before deciding which broker to use. This includes looking at the range of financial assets they let you trade, their fees, as well as how easy it is to withdraw and deposit money. Below, we have reviewed the best scalping forex brokers in detail.

1. XTB – Best scalping Forex broker with over 2000 instruments with low fees

XTB Online Investing LOGO RGB

In Europe, XTB Broker is a well-known scalping broker for stocks, currencies, and commodities that accepts a range of assets. The platform has more than 400,000 subscribers worldwide and has been available for more than 15 years.

In total, XTB offers more than 2100 trading instruments. For anyone looking to diversify their portfolio and broaden their market exposure, this makes it a tempting option. The website does charge overnight fees to those who hold positions after the market shuts.

Members of XTB can access a range of educational tools to improve their knowledge. There are also numerous tutorials and a whole trading academy included on the platform. Additionally, Users have access to in-depth market analysis to help them make trading decisions on XTB.

XTB scalping broker

Additionally, XTB provides a demo account, a terrific method to test out the platform without risking any money. XStation 5 and XStation Mobile are the two trading systems that XTB provides. The second choice is suitable for mobile trading.

XTB offers fast execution speeds which can be used to place trades quickly. It is also worth noting that XTB has no minimum deposit requirement.

Visit XTB

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Avatrade – One of the best high leverage forex brokers for scalping that is compatible with MT4

AvaTradeIf you’re an experienced trader who is looking for a forex scalping option with advanced trading tools, high leverage trading, and access to a variety of financial assets, then Avatrade could be a potential option. Not only does Avatrade support MT4 and MT5 trading platforms, but it also a variety of automated trading tools such as DupliTrade, AvaSocial, and ZuluTrade.

Avatrade also offers high leverage for most trades. For example, on most currency pairs, it offers a leverage of 400x, making it suitable for experienced traders who are comfortable with the risk.

is scalping trading illegal

At the same time, Avatrade also has very tight spreads (0.9 pips for the EUR/USD pair and 1.6 pips for the GBP/USD pair) which are fixed throughout the day. It offers the opportunity to trade CFDs, thus allowing to trade on vanilla options with low fees on high leverage.

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.9 pips for EUR/USD
Crypto trading fee Commission. 0.25% (over-market) for Bitcoin/USD
Inactivity fee $50 per quarter after three months of inactivity
Withdrawal fee Free
Visit AvaTrade

There is no guarantee that you will make any profits with this provider. Your money is at risk.

4. Admiral Markets – FCA regulated broker for scalping in UK

Admiral Markets is an online trading broker that specializes in scalping. Admiral Markets UK Ltd is regulated by the Financial Conduct Authority (FCA). Over 10,000 customers in over 80 countries are served by the company.Admiral Markets Logo

Admiral Markets, which was founded in 2001, is a pioneer in online foreign exchange trading. The broker provides MetaTrader 4 and MetaTrader 5 trading platforms. Admiral Markets also specializes in trading foreign currencies and CFDs. Customers can trade on a variety of markets, including indices, commodities, stocks, cryptocurrencies, and bonds, through the broker.

Admiral Markets provides extensive education and analysis services. The company hosts webinars and offers some free learning resources, such as an eBook, an economic calendar, and a forex trading guide. Admirals offers a wide range of features and trading tools, while also giving investors access to over 8000 assets. Over 3000 stocks, 370+ ETFs, 80 different currency pairs for forex trading, 43 indices, popular commodities, and treasury bonds for US and European countries are among the various CFD financial instruments.

Admiral Markets Trading

Since 2020, Admirals has taken on carbon neutral status as a company and is committed to sustainability efforts worldwide, focusing on clean water and promoting ESG compliance. The company supports various green initiatives, including tree planting, reforestation, clean ocean initiatives, and generating clean water for underprivileged nations. Admirals believes in creating a cohesive financial trading world and transforming the world.

Visit Admiral Markets

74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

4. Pepperstone – Best forex broker for scalping with MetaTrader 4

Pepperstone is a regulated broker that works with popular trading platforms like MT4, MT5, and CTrader. Pepperstone was founded in 2010, but has expanded rapidly over the last decade, now providing services all over the world. The platform, which serves over 300,000 clients, is regulated by the FCA, ASIC, and BaFin.Pepperstone Logo

Pepperstone offers over 1200 forex instruments, as well as other asset types available as CFDs, such as indices, commodities, cryptocurrencies, and shares. There is also a wide range of educational materials for beginners to learn to trade as well as market analysis reports for traders of all experience levels.

Pepperstone offers commission-free trading on its Standard account, with spreads averaging just 0.87 pips for EUR/USD, making very useful for scalping traders. Users can spread bet on stocks, commodities, indices, and currencies, as well as trade using MT4. This feature allows advanced traders to use custom trading strategies as well as automated trading systems.

Pepperstone Trader

Clients who use Pepperstone’s raw account have access to the market’s most competitive rates, with zero spreads on major currency pairs. This account type is especially beneficial for traders who frequently execute larger trades.

Pepperstone has no non-trading fees, which means no deposit, withdrawal, or inactivity fees, and offers 24/5 customer support via live chat, phone, or email.

Visit Pepperstone

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

5. Trade Nation – UK scalping broker and regulated signals provider

Trade Nation Logo

Trade Nation is a CFD and spread betting platform that supports forex scalping in the UK. The platform provides a range of educational resources and tools that can help traders to improve their scalp trading strategy and make informed decisions.

Trade Nation also provides a highly-rated signals service that is regulated by the Financial Conduct Authority in the UK. This tool can be used to guide scalp trading decisions and is particularly useful for less-experienced traders who don’t feel confident with research and analysis.

Traders can choose between the TN Trader platform or Meta Trader 4. Both charting tools offer a range of indicators and can be used on mobile and desktop devices. Trade Nation also provides a good range of educational resources for traders to use to improve their skills.

Trade Nation - UK scalp trading platform

It is possible to practice scalp trading on Trade Nation for free through the demo account feature. Traders do not need to deposit any funds to use the demo account.

Visit Trade Nation

77% of retail investor accounts lose money when trading CFDs with this provider.

Key Features of a Scalping Forex Brokers in the UK

As mentioned earlier, traders should conduct research into the different scalping platforms available before making any decisions. Below, we take a look at the main features to look out for when researching potential scalp trading options.

Type of Broker

One factor to consider is the type of broker that a platform is – whether it is a market maker or an ECN/STP broker. Certain scalping strategies only work with either market makers or ECN/STP brokers. Market makers usually do not charge fixed fees and ensure an execution regardless of trading conditions. On the other hand, ECN/STP brokers provide access to the level 2 order book and create a much more transparent trading environment.

Execution Speed

As a scalper, you will often be opening and closing positions rapidly in that every second matters, therefore it is important that your broker provides the necessary execution speeds to avoid slippages and delays.

Leverage Ratio

Since scalping relies on making profits from very small movements in financial assets, leverage is a key feature of scalp trading platforms. It is important to look for a platform that provides an adequate level of leverage. The leverage should be compatible with your risk profile, since higher leverage also means higher risk.

Trading Tools and Features

The last factor to consider is the trading tools that the platform provides. As a scalp trader, you will often not be analysing securities very deeply, and will instead choose to rely on signals and pickers to present you with trading opportunities. Some UK scalp trading platforms offer built in features that aim to analyse the market on your behalf. These can be useful when placing trades quickly.

How To Do Scalping in the UK

Scalp trading is a trading method that has been used in the crypto space for a very long time. What exactly does this form of trading involve? Specifically, traders buy and sell a larger amount of assets, but hold the position for an extremely short period of time.  If you want to start scalping yourself, read the guide below for the steps you need to take.

You can start learning to trade with a range of products including CFDs and Options.

Step 1 – Choose the right market

Explore the markets and choose what you want to trade. You can choose from stocks, forex, commodities, indices and more.

Step 2 – Open a trading platform account

We recommend that you choose an easy-to-use scalping platform that suits your needs and create a user account.

Step 3 – Trade on a demo account

Before you start trading with real money, practice your scalping strategy on a demo account to gain experience and hone your skills.

Step 4 – Decide what action to take

It’s important to decide in advance whether you want to buy or sell assets. Indicators and other charting tools can help you decide whether the market is going up or down and what your position should be.

Step 5 – Manage trading risk

Set stop and limit orders to automate entry and exit points to ensure you meet your profit targets and limit risk.

Step 6 – Monitor and close trades

Keep an eye on breaking news and events that could affect the progress of your positions. Close the trade when it reaches an acceptable profit level or when the risk exceeds the set limit.

Conclusion

Scalping is a very short-term trading strategy that takes advantage of short-term price movements. Scalp traders use technical indicators and advanced trading tools to predict price movements and quickly place trades. While different trading requirements necessitate the use of different brokers, UK traders could opt for an FCA regulated scalping broker.

We have looked at 5 scalp trading platforms that can be used in the UK 2024. Each platform offers different features and is suitable t different types of traders. The platform that you pick should be down to your own research, risk-level and experience.

Visit XTB

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FAQ

How Do You Scalp Trade The Forex Market?

Is Scalping A Risky Day Trading Strategy?

How Much Money Do You Need To Start Scalping?

What Is The Right Time To Scalp Trade The Forex Market?

Which Is The Most Popular Forex Broker For Scalping?

References: 

Nishit Kumar Finance Writer and Analyst

Nishit Kumar Finance Writer and Analyst

Nishit is a NGL Trader Analyst at Akari Trading. He has also worked as an analyst for Morgan Stanley and Onyx Commodities.

Before starting his career in finance, Nishit studied at the University of Warick where he was an active member of the Hedge Fund society. Due to his qualifications and experience, Nishit is considered an industry expert and enjoys writing content that could help traders to make informed decisions.

As well as writing, Nishit worked as Associate Editor for The Economic Transcript until 2021. He has also written for Newsweek and has good knowledge of current events that could affect the financial markets. 

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