Scalping is a common trading technique used to make a series of tiny profits throughout a trading session. If you want to succeed as a scalper, you need a broker that supports your trading style. To that aim, we’ve compiled a list of the top 7 forex brokers in Ivory Coast that cater to scalpers.
In this guide, you will learn:
- The Best Forex Brokers for Scalping the Ivory Coast – a List (2024)
- The Best (ENC) Forex Brokers that allow + Trading Platforms for Scalping
- Is Scalping Illegal in the Ivory Coast?
- Which Forex Broker is a Popular Choice for Scalpers?
- The Best Forex Brokers that allow Hedging and Scalping
and much, MUCH more!
7 Best Forex Brokers for Scalping in the Ivory Coast – a Comparison
| 🔎 Broker | ⚙️ Scalping | 💹 Hedging | 💯 Trust Score |
| 🥇 Exness | ☑️Yes | ✅Yes | 97% |
| 🥈 Tickmill | ☑️Yes | ✅Yes | 81% |
| 🥉 AvaTrade | ☑️Yes | ✅Yes | 96% |
| 🏅 OctaFX | ☑️Yes | ✅Yes | 61% |
| 🎖️ FP Markets | ☑️Yes | ✅Yes | 81% |
| 🥇 HF Markets | ☑️Yes | ✅Yes | 83% |
| 🥈 IC Markets | ☑️Yes | ✅Yes | 85% |
7 Best Forex Brokers for Scalping in the Ivory Coast – a Comparison (2024)
- ☑️ Exness – Overall, the Best Forex Broker for Scalpers in the Ivory Coast
- ☑️ Tickmill – Access to a Wide Range of Trading Tools
- ☑️ AvaTrade – Fixed Forex Spreads starting at 0.9 pips
- ☑️ OctaFX – Very versatile broker for scalping
- ☑️ FP Markets – Efficient ECN Execution
- ☑️ HF Markets – Scalpers can use leverage of up to 1:1000
- ☑️ IC Markets – Allows scalping on MT4, MT5, and cTrader.
7 Best Forex Brokers for Scalping in Ivory Coast
The 7 top Forex scalping brokers in Ivory Coast are discussed here. These brokers provide a risk-free and competitive trading environment.
Exness
Since its founding in 2008, Exness has seen its monthly trading volume rise to over $180 billion. Because of the variety and depth of services it offers, Exness is one of the most popular and convenient broker choices in the Ivory Coast.
Exness is widely used and accepted in Ivory Coast, but it is not regulated by the government.
Exness is known for providing its clients with a wide selection of account types and some of the most beneficial market circumstances.
Traders in Ivory Coast might benefit greatly from the adoption of electronic payment methods due to the speed with which they can access their deposits and leverage.
Exness Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📍 Social Media Platforms | Instagram YouTube |
| 📈 Ivory Coast Regulation | None |
| 📉 Trading Accounts | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account |
| 📊 Trading Platforms | MetaTrader 4 MetaTrader 5 Exness Terminal Exness Trader app |
| 💴 Minimum Deposit in XAF | 5,895 XAF |
| 💹 Trading Assets | Forex Metals Crypto Energies Indices Stocks |
| 💵 CFA Franc-based Account | None |
| 💶 XAF Deposits Allowed | None |
| 🎁 Bonuses for Cameroon traders | None |
| 📑 Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
Exness Pros and Cons
The Pros of Trading with Exness will include:
- ✅ All devices have access to a variety of powerful trading platforms
- ✅ Exness is a forex broker with some of the highest leverage ratios and round-the-clock support
- ✅ Cost-free Access to a Virtual Private Server
The Cons of trading with Exness may include:
- ✅ There are not a lot of tradable instruments or learning materials available
Why is Exness so popular with traders in Ivory Coast
One of the reasons that Exness is a popular broker is because it offers some of the tightest spreads in the industry.
Does Exness offer a high leverage for scalping?
Yes, Exness offers an unlimited leverage level for traders.
Tickmill
Tickmill has come a long way since its inception in 2014; it now serves over 110,000 customers and processes over USD 120 billion in trade volume per month.
Tickmill dominates the global ECN brokerage market. They fall under the purview of the UK’s Financial Conduct Authority (FCA) and the Seychelles’ Financial Services Authority (FSA).
Tickmill’s individual and institutional clients can trade in the following markets: foreign currency (FX), stock indices, commodities, contracts for difference (CFDs), and precious metals.
Tickmill Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA |
| 📍 Social Media Platforms | Facebook YouTube Telegram |
| 📈 BCEAO Regulation | None |
| 📉 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💴 Minimum Deposit in CFA Franc | 3 036,12 CFA Franc or $5 |
| 💹 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 💵 CFA Franc-based Account | None |
| 💶 CFA Deposits Allowed | None |
| 🎁 Bonuses for Ivorian traders | ✅Yes |
| 📚 Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
Tickmill Pros and Cons
The Pros of Trading with Tickmill will include:
- ✅ Tickmill has a stellar reputation for reliability and favorable trade terms.
- ✅ Options like Skrill and Neteller, among others, provide convenient methods of depositing funds. Tickmill provides trustworthy trading platforms in addition to innovative mobile trading
- ✅ Advanced traders get access to a wide range of tools like FIX API, AutoChartist, VPS, and more
The Cons of Trading with Tickmill may include:
- ✅ Accounts with a fixed spread are not an option.
What platforms does Tickmill offer to traders in Ivory Coast?
Tickmill offers the full MetaQuotes suite consisting of MetaTrader 4 and MetaTrader 5.
What assets can be traded with Tickmill?
The assets included in Tickmill’s offering are foreign currency (FX), stock indices, commodities, contracts for difference (CFDs), and precious metals.
AvaTrade
AvaTrade is flexible enough to meet the needs of any scalper in Ivory Coast. The Central Bank of Ireland is one of many regulatory bodies that oversee AvaTrade, a global CFD and FX broker established in 2006.
Ivory Coast is not one of the countries where AvaTrade is regulated.
AvaTrade offers a safe place for investors to avoid loss despite the lack of regulation in Ivory Coast. In general, this broker provides a safe, honest, and open trading environment.
AvaTrade Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 📍 Social Media Platforms | Instagram YouTube |
| 📈 Ivory Coast Regulation | None |
| 📉 Trading Accounts | Retail Account, Professional Account |
| 📊 Trading Platforms | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💹 Minimum Deposit in XAF | 6,0067 XAF or equivalent to $100 |
| ▶️ Trading Assets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-Traded Funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| 💴 CFA Franc-based Account | None |
| 💵 XAF Deposits Allowed | None |
| 🎁 Bonuses for Cameroonian traders | ✅Yes |
| 📚 Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
AvaTrade Pros and Cons
The Pros of Trading with AvaTrade will include:
- ✅ AvaTrade is a reputable broker that has won multiple awards since its inception
- ✅ AvaTrade provides access to more than 1,250 trading instruments across a variety of financial markets
- ✅ AvaTrade offers a variety of cutting-edge trading platforms
- ✅ AvaTrade welcomes scalpers from Ivory Coast
- ✅ AvaTrade offers an Islamic account option
- ✅ AvaTrade offers a demo account option
- ✅ AvaTrade allows for both live and demo trading
The Cons of Trading with AvaTrade may include:
- ✅ Ivory Coast traders are not allowed to open XAF-denominated accounts or use local deposit and withdrawal methods
- ✅ There is only one retail account and one professional account available
- ✅ Inactivity fines are enforced for dormant accounts
- ✅ Currency conversion expenses may be imposed
Does AvaTrade accept traders from the Ivory Coast?
Yes, AvaTrade accepts traders from Ivory Coast and supports a wide range of trading styles.
Does AvaTrade offer a free demo account?
Yes, you can open a free demo account with AvaTrade to practice your trading before opening a live account.
OctaFX
For forex traders in Ivory Coast, OctaFX differentiates itself from the competition by providing platforms other than MetaTrader and cTrader.
All OctaFX platforms have access to market execution, allowing for scalping, hedging, the deployment of Expert Advisors, and the implementation of custom technical indicators. The MT4 platform is provided, and a VPS can be used if desired.
OctaFX Overview
| 🔎 Feature | ℹ️ Information |
| 📌 Regulation | Financial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC) |
| 📍 Social Media Platforms | Facebook YouTube Telegram |
| 📈 BoN Regulation | None |
| 📉 Trading Accounts | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader |
| 💴 Minimum Deposit | XAF 2 958,13 or $5 |
| 💹 Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies |
| 💵 CAF Franc-based Account | None |
| 💶 XAF Deposits Allowed | None |
| 🎁 Bonuses for Cameroonian traders | ✅Yes |
| ↪️ Minimum spread | From 0.6 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
OctaFX Pros and Cons
The Pros of Trading with OctaFX will include:
- ✅ Money can be deposited and withdrawn quickly and reliably with OctaFX
- ✅ OctaFX is a broker that welcomes all levels of traders, from novices to pros, with an open and secure trading platform that includes copy trading accounts accessible via the company’s unique trading app.
- ✅ OctaFX provides fair and open terms for trading to investors in Ivory Coast
- ✅ Commission-free trading on all retail investor accounts and tight spreads
- ✅ Provides Muslim traders with an Islamic Account and a demo trading account with no limits
- ✅ OctaFX provides a variety of secure deposit and withdrawal options
- ✅ OctaFX provides cutting-edge trading tools
The Cons of Trading with OctaFX may include:
- ✅ Undesirable tier-2 offshore regulation
- ✅ The small number of trading instruments
- ✅ Fewer than ten retail account types
- ✅ Few base currency options for accounts
Does OctaFX offer cTrader to scalpers in the Ivory Coast?
Yes, cTrader is available when trading with OctaFX.
What is the minimum deposit for opening an account with OctaFX in Ivory Coast?
Ivory Coast traders and scalpers can open an account with OctaFX for a minimum deposit of XAF 2 958,13 or $5.
FP Markets
When compared to other forex trading platforms, FP Markets’ ECN account stands out due to its low spreads and fair price. The MetaTrader platform from FP Markets is reasonably priced for Forex and CFD scalpers, but it lacks the comprehensive training options offered by market leaders.
FP Markets is one of the most affordable brokers for commission-based ECN accounts because it supports MetaTrader. The Iress ViewPoint account, which is more expensive, is popular among high-volume dealers.
FP Markets Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | ASIC, CySEC |
| 📍 Social Media Platforms | Facebook YouTube Telegram |
| 📈 Ivory Coast Regulation | None |
| 📉 Trading Accounts | MT 4/5 Standard Account MT 4/5 Raw Account MT 4/5 Islamic Standard Account MT 4/5 Islamic Raw Account Demo Account Islamic Account |
| 📊 Trading Platforms | MetaTrader 4 MetaTrader 5 WebTrader Myfxbook AutoTrade FP Markets App |
| 💴 Minimum Deposit in XAF | 6,0067 XAF or equivalent to $100 |
| 💹 Trading Assets | Forex Shares Metals Commodities Indices Cryptocurrencies Bonds |
| 💵 CAF Franc based account | None |
| 💶 XAF deposits accepted | ✅Yes |
| 🎁 Bonuses for Cameroonian traders | None |
| 🖇️ Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
FP Markets Pros and Cons
The Pros of Trading with FP Markets will include:
- ✅ No requotes
- ✅ Raw prices
- ✅ Tight spreads
- ✅ Your funds are safe because the broker is regulated
- ✅ Multiple deposit and withdrawal options
- ✅ Traders of all experience levels are welcomed and supported.
The Cons of Trading with FP Markets may include:
- ✅ Trading accounts denominated in XAF are unavailable, and withdrawal fees will apply.
- ✅ The Islamic Account has its own set of fees.
Does FP Markets have a trading app for scalpers in Ivory Coast?
Yes, scalpers in Ivory Coast can download the FP Markets app for Android and iPhone.
Does FP Markets provide access to cryptocurrencies?
Yes, traders can access cryptocurrencies when trading with FP Markets.
HF Markets
HF Markets is a commodities and Forex broker that has been in business since 2010. The HF App sets HF Markets apart from rivals since it provides Ivorian scalpers with convenient mobile access to their accounts, trading tools, news, and financial analysis.
HF Markets offers its clients a wider variety of trading instruments, including specialty CFDs, than competing brokers.
Direct market access (DMA) orders can be placed on more than 950 individual stocks, 53 ETFs, 53 currency pairs, share CFDs, commodities, and bond CFDs.
HF Markets Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📍 Social Media Platforms | Facebook Telegram YouTube |
| 📈 BCEAO Regulation | None |
| 📉 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📊 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💴 Minimum Deposit in CFA Franc | 3 036,12 CFA Franc or $5 |
| 💹 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💷 CFA Franc-based Account | None |
| 💶 CFA Franc Deposits Allowed | None |
| 🎁 Bonuses for Ivorian traders | ✅Yes |
| 📑 Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
HF Markets Pros and Cons
The Pros of trading with HF Markets will include:
- ✅ Spreads on the EUR/USD pair begin at 0 pips, making this broker one of the tightest and most competitive in the industry.
- ✅ Traders of all experience levels can use the demo account to hone their skills.
- ✅ HF Markets gives Ivory Coast traders access to a wide variety of assets on desktop, mobile app, and web-based platforms powered by MetaTrader 4 and 5.
The Cons of Trading with HF Markets may include:
- ✅ Ivory Coast traders on HF Markets are limited to a few payment methods.
When was HF Markets established?
HF Markets was first established in 2010.
What are the spreads at HF Markets of Ivory Coast traders?
For Ivory Coast traders the spreads at HF Markets start at 0 pips on the EUR/USD pair.
IC Markets
IC Markets is a reliable and well-established online trading broker with headquarters in Sydney and regulated by the Australian Securities and Investments Commission (ASIC). IC Markets offers three excellent trading platforms to its customers.
Investors can select from a wide range of analytical tools across three distinct trading platforms.
Contracts for difference (CFDs) on indices, equities, commodities, and futures, as well as major cryptocurrencies like Bitcoin and Ethereum, are just some of the more than eighty products offered through the brokerage. When it comes to foreign exchange, IC Markets has you covered.
IC Markets Overview
| 🔎 Feature | ↪️ Information |
| 📌 Regulation | ASIC, CySEC, FSA in Seychelles, and SCB |
| 📍 Social Media Platforms | Facebook YouTube |
| 📈 Ivory Coast Regulation | None |
| 📉 Trading Accounts | Standard account, Razor Account, Professional Account, |
| 📊 Trading Platform | cTrader Account, Raw Spread Account, Standard Account |
| 💴 Minimum Deposit in XAF | 81, 155 XAF equivalent to AU$200 |
| 💹 Trading Assets | Forex Commodities Indices Bonds Cryptocurrencies Stocks Futures |
| 💶 CAF Franc-based Account | None |
| 💷 XAF Deposits Allowed | None |
| 🎁 Bonuses for Ivory Coast traders | None |
| ⏩ Minimum spread | from 0.0 pips |
| 🆓 Demo Account | ✅Yes |
| ☪️ Islamic Account | ✅Yes |
IC Markets Pros and Cons
The Pros of Trading with IC Markets will include:
- ✅ IC Markets is a haven for traders because it is well-regulated and protects its customers. The broker follows all applicable laws and regulations.
- ✅ A wide variety of trading services, technical indicators, trading ideas, and tools are all available from IC Markets.
- ✅ IC Markets is well-known for providing a safe, open trading environment via powerful desktop platforms, web terminals, and mobile trading platforms
- ✅ IC Markets accepts all trading tactics, including scalping, hedging, and automated trading systems.
- ✅ In addition to substantial liquidity and trustworthy transaction execution, novice traders may anticipate a wealth of available educational resources.
- ✅ Trading fees and spreads are low, and the overall pricing structure is clear.
The Cons of Trading with IC Markets may include:
- ✅ Higher than average initial deposit requirements
- ✅ Possible conversion fees
- ✅ Not accepting traders from all countries, including the United States
- ✅ No fixed spread accounts are available
- ✅ When it comes to trading platforms, IC Markets does not develop its own.
How does IC Markets provide security for scalpers in Ivory Coast?
IC Markets is well-regulated around the world and protects its customers. The broker follows all relevant laws and regulations.
Does IC Markets support the scalping strategy?
Yes, IC Markets accepts all trading strategies, including scalping, hedging, and automated trading systems.
How to choose a scalping Forex broker in Ivory Coast
Ivory Coast traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Ivorians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirements, commissions and spreads, initial deposits, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Ivory Coast traders must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments that the broker offers. Ivory Coast traders must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor and Ivory Coast traders must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Ivory Coast trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
- ✅ eBooks
- ✅ Trading guides
- ✅ Trading knowledge on leveraged products
- ✅ A risk warning on complex instruments
- ✅ Educational videos
Research can include some of the following:
- ✅ Trading tools
- ✅ Commentary
- ✅ Status of International Markets
- ✅ Price movements
- ✅ Market sentiments
- ✅ Whether there is a volatile market
- ✅ Exchange Rates
Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers in Ivory Coast
Best MetaTrader 4 / MT4 Scalping Forex Broker in Ivory Coast
Overall, Exness is the best MetaTrader 4 scalping forex broker in the Ivory Coast. Due to Exness’ long history of regulation by several agencies and advantageous leverage ratios, many investors like working with the firm as their broker of choice. With round-the-clock support, Exness is a great choice for forex traders in Ivory Coast.
Best MetaTrader 5 / MT5 Scalping Forex Broker in Ivory Coast
Overall, AvaTrade is the best MetaTrader 5 scalping forex broker in Ivory Coast. You may trade in over 1,250 different markets with the trustworthy broker AvaTrade. The services offered by AvaTrade are ideal for traders in Ivory Coast.
Best Scalping Forex Broker for beginners in Ivory Coast
Overall, XM is the best scalping forex broker for beginners in Ivory Coast. Newcomers to XM receive extra support despite the platform’s openness to a variety of trading strategies. If you want to learn more about foreign exchange trading, XM has a lot of resources to help you out.
Best Minimum Deposit Scalping Forex Broker in Ivory Coast
Overall, Alpari is the best minimum deposit scalping Forex broker in Ivory Coast. Traders in Ivory Coast can use any way they like to fund and withdraw funds from their Alpari accounts. Alpari has cheap spreads and commissions. Alpari, which already offers trading software, now also offers Copytrade as a supplementary service.
Best ECN Scalping Forex Broker in Ivory Coast
Overall, IC Markets is the best ECN scalping forex broker in the Ivory Coast. Among ECN trading brokers IC Markets is a veteran that has stood the test of time. Trading strategies such as hedging, scalping, and many others are all supported by IC Markets. They provide trial accounts, accounts that adhere to Islamic law, and accounts that have lower transaction fees.
Best Islamic / Swap-Free Scalping Forex Broker in Ivory Coast
Overall, Exinity is the best Islamic/swap-free scalping forex broker in Ivory Coast. Exinity is reliable, well-managed, and secure, and it keeps its users out of the red.
Best Scalping Forex Trading App in Ivory Coast
Overall, FXTM has the best scalping forex trading app in the Ivory Coast. Three real-money trading accounts and powerful trading tools are available to FXTM customers. FXTM allows customers to turn any live trading account into a practice environment.
Best XAF Trading Account Scalping Forex Broker in Ivory Coast
Overall, Pepperstone is the best XAF trading account scalping Forex broker in the Ivory Coast. Pepperstone accepts deposits and withdrawals in CFA Francs, the currency of the Ivory Coast. Pepperstone’s social trading features are complemented by a robust affiliate program.
Best Lowest Spread Scalping Forex Broker in Ivory Coast
Overall, Tickmill is the best lowest spread scalping forex broker in the Ivory Coast. Tickmill is one of the most cost-effective brokers because it allows for the use of a wide variety of trading methods. Tickmill allows you commission-free trading and offers multiple deposit ways.
Best Nasdaq 100 Scalping Forex Broker in Ivory Coast
Overall, HF Markets is the best Nasdaq 100 scalping forex broker in Ivory Coast. With HF Markets, novice traders may open an account with as little as $5 and gain access to numerous learning tools. Maximum leverage at HF Markets is 1:1000.
Best Volatility 75 / VIX 75 Scalping Forex Broker in Ivory Coast
Overall, IG is the best Volatility 75/VIX 75 scalping forex broker in Ivory Coast. New traders in Ivory Coast who are interested in joining the IG Academy can do so on this page. Expert traders have access to a wide variety of cutting-edge resources.
Best NDD Scalping Forex Broker in Ivory Coast
Overall, FP Markets is the best NDD scalping forex broker in the Ivory Coast. There is a plethora of deposit and withdrawal methods available at FP Markets. The ECN pricing model used by FP Markets is responsible for its raw and tight spreads.
Best STP Scalping Forex Broker in Ivory Coast
Overall, Oanda is the best STP scalping forex broker in Ivory Coast. Oanda’s powerful trading tools require no deposit. Oanda gives its customers access to a suite of cutting-edge trading features.
Best Sign-Up Bonus Scalping Forex Broker in Ivory Coast
Overall, RoboForex is the best sign-up bonus scalping Forex broker in the Ivory Coast. RoboForex offers a 100% welcome bonus on first deposits and a wide variety of trading instruments.
How to use scalping to trade Forex in Ivory Coast
Day traders in Ivory Coast who employ scalping strategies are essentially trying to sell fake tickets. To win large is not the point. Scalpers, on the other hand, focus on amassing a large number of tiny wins rather than a few large ones. In a matter of seconds to minutes, positions can be opened and closed, and gains can be recovered.
In this type of trading, participants seldom keep a currency pair for more than a few minutes, and often close a position within seconds. Stocks can usually be kept for no more than a few hours, but there are always exceptions.
Market participants look for opportunities to trade by monitoring small price fluctuations. Accurate timing and prompt action are required for successful scalping.
Some traders find success with this strategy, but it is not without danger. Like a marathon runner, a scalp trader must act quickly to take advantage of opportunities.
Most scalpers wouldn’t stick around for alternative opportunities for the same transaction long enough for it to develop into a loss. Because of the high degree of leverage required, some people choose to stay away from scalping.
The two most common ways for scalpers to fast lose their money are by trading too much of an amount and by succumbing to greed.
Pros of using the scalping strategy
- ✅ Most scalping strategies rely on technical analysis tools like indicators, chart patterns, and candlestick patterns, and require less trading capital per deal than other forms of trading.
- ✅ Smaller price movements are easier to achieve and occur more frequently than larger price swings
- ✅ Most scalping strategies may be automated because they rely primarily on particular technical criteria.
Cons of using the scalping strategy
- ✅ Since scalpers make their money off of tiny fluctuations in price, they need to make a lot of deals with a high win rate to break even.
- ✅ The time it can take is another drawback of forex scalping.
- ✅ Scalpers, in general, must use more leverage to benefit, which, if not managed properly, might wipe out all of your earnings with a single lost trade.
In Conclusion
Overall, scalping is a common trading strategy because it yields incremental gains throughout a trading session. Using licensed Forex brokers offering favorable spreads and liquidity is optimal for scalping in Ivory Coast.
Frequently Asked Questions
How do you use the scalping Forex strategy?
Numerous methods of “scalping” exist. Marking creating is one such tactic. By simultaneously placing a bid and an offer on a stock, the trader hopes to profit from the difference between the two prices. This tactic works best with stocks that are not trading in real-time.
Which Forex pair is best for scalping in the Ivory Coast?
Over twenty percent of daily forex transactions are in the EUR/USD pair, making it the obvious leader among the finest forex pairings for scalping. Scalping tactics often use shorter timescales, typically between one and five minutes.
Can beginners in the Ivory Coast do scalping?
One-minute scalping is an excellent approach for newcomers to try. Opening a trade, winning a few pips, and then closing it quickly is an example of this strategy. Professional traders generally agree that it is one of the best trading methods available and that it is also one of the simplest.
What is the one-hour scalping strategy?
To make the most of opportunities in the 60-minute time frame, the 1-hour forex scalping method was developed. You can find new forex scalping opportunities every hour without having to stare at your screen the whole time. 100pips Momentum Indicator for MetaTrader4 Charts.
How many pips do scalpers make?
Scalping is a trading method that takes advantage of tiny price fluctuations by making many, fast trades. Traders often shoot for 5-10 pip (point) gains on each trade.
