If you typically zoom in on small price movements no bigger than several pips, like placing multiple orders in quick succession, seek fast and precise execution without requotes, chances are you are a high-frequency trader. And if you’re indeed interested in HFT and looking for a reliable partner, you’ve got to the right place.
I picked the cream of the crop of forex brokers serving high-frequency traders. I filtered out the ones that deliver the fastest execution speeds, measured against the industry average of 60ms, offer the tightest spreads, and provide the most sophisticated trading platforms. I also gave extra credit to brokers that provide VPS hosting and FIX APIs integration. Here is my list of the best HFT brokers.
*AvaTrade doesn’t allow CFD trading in Spain; only Futures are available.
Our team of experts has identified brokers’ strengths and weaknesses using FXEmpire’s comprehensive methodology.
Now let’s dive into the selected brokers.
My live testing proved that FP Markets is the most well-calibrated broker for high-frequency trading. Founded in 2005 in Australia, it is regulated by multiple financial authorities and provides its services globally. My research revealed that FP Markets features competitive spreads, 10,000+ assets, advanced trading platforms, fast execution speeds of around 40 milliseconds, robust market research, and free VPS hosting.
High-Frequency Trading Features:
I concluded that the Raw account is best-suited for HFT traders. You can open it with an initial investment of just $50. I fired up mine and observed a $6 round-trip commission, which is aligned with the industry benchmark and better than the average spreads on most assets I tested.
If you achieve at least 10 lots of monthly traded volume on MT4/MT5 or 40 lots on cTrader, FP Markets will cover your subscription fee for a Virtual Private Server (VPS) hosting that will help you achieve order execution speeds below 5ms.
Among the platforms FP Markets offers, I regard cTrader as the optimal choice for high-frequency traders. Using this platform myself, I can say that it stands out for its sophisticated coding environment, which lets you program your own trading algorithms to adapt to various market conditions. Additionally, cTrader offers a variety of off-the-shelf bots for purchase.
RoboForex appeals to beginner HF traders with its diverse accounts and platforms, powerful low-latency trading tools, and competitive pricing. The broker provides a rich collection of educational materials for those who are taking their first steps into HFT. Whether you want to master the intricacies of technical analysis and rapid-fire trading or gain valuable insights into trading psychology, RoboForex has got you covered.
High-Frequency Trading Features
Using my RoboForex ECN account, I observed a commission of $4, which came considerably lower than the $6 benchmark. I also gave RoboForex’s ProCent account a spin and found it the best option for beginners. It is the perfect jumping point into real-world trading from a practice account, helping you test your trading systems while keeping your profit-and-loss margin at a minimum.
Another highlight of RoboForex is its flagship platform – R WebTrader. It features 38 technical indicators, 31 drawing tools, 10 timeframes, and 5 chart types. The R WebTrader also helps beginners zoom in on viable trading opportunities as they develop. You can also use the one-click functionality for instant entries or floating stop orders for tight risk management.
FxPro is an established name in the trading sphere that attracts scalpers with its access to deep liquidity and powerful platforms. Founded in 1999, FxPro delivers 2,100+ tradable instruments across different markets. It appeals to high-frequency scalpers with its lightning-fast execution speeds of around 8 milliseconds and a 98% fill rate.
High-Frequency Trading Features:
In addition to its ultra-fast order execution speeds, I also found FxPro to be a great choice for high-frequency scalpers because of its policy on low stop-limit orders. In particular, there are no stop-limit restrictions (0.0 pips) for scalpers using FxPro’s cTrader platform. This means they can place their protective stop orders as close to their entry levels as they like, allowing them to exercise tight risk management.
Speaking of the cTrader platform, it accommodates scalpers with its wide range of low timeframes (down to 1 second), 100+ analytical tools, high-definition charts, and a specialized area for trade automation. High-frequency traders can use it to automate their systems and adjust their parameters in order to match different trading scenarios and environments.
FxPro’s stack of trading platforms also includes the advanced FxPro Trading Platform and the popular MT4 and MT5. I also learned that the broker offers VPS hosting to high-volume scalpers seeking fast execution speeds and stable internet connectivity. On the downside, I captured elevated spreads with FxPro’s Standard account, starting at 1.4 pips on EURUSD, vs the industry average of 1.15 pips. More competitive prices are available via the Raw+ and Elite accounts.
AvaTrade was originally established in Ireland in 2006. Since then, the broker has expanded its operations globally, obtaining licenses from major regulators like ASIC, CySEC, and the FSCA. With its diverse selection of platforms for copy and social trading, including AvaSocial and the popular DupliTrade, I consider AvaTrade the top option for copy traders.
High-Frequency Trading Features:
I found that both AvaSocial and DupliTrade permit clients of AvaTrade access to the broker’s 1450+ assets across currency pairs, commodities, stocks, indices, cryptocurrencies, ETFs, bonds, and FX options.
High-frequency traders interested in copy and social trading can interact, replicate each other’s strategies, or share trading experience. Social and copy trading with AvaTrade does not include a servicing fee from the broker, which is another plus for cost-conscious traders.
I performed my testing using AvaTrade’s universal trading account, which features zero commissions and floating spreads from 0.8 pips. You can get started with as little as $100 and connect your account to one of the broker’s copy trading stations. During my testing, I captured low EURUSD spreads of around 0.8 pips, average gold spreads of around 29 pips, and elevated BTCUSD spreads of $85. However, spreads on indices and Bitcoin exceeded the industry average.
Swissquote is a major Swiss investment bank with global outreach and an impressive lineup of over 3 million trading and investing products. Since its foundation in 1996, Swissquote has gone public and is now listed on the SIX Swiss Exchange. The broker has developed an advanced CFXD platform and delivers deep liquidity to high-frequency traders globally.
High-Frequency Trading Features:
While testing Swissquote’s flagship CFXD web platform, I observed industry-low execution speeds averaging 9ms. The platform features 86 technical indicators, 70+ drawing tools, 15 timeframes, and 15 timeframes, which is more than what most other retail platforms offer. I appreciated the high-definition charts and user-friendly color palette for comprehensive price action analysis.
CFXD supports one-click trading and all basic order types. Moreover, it features OCO and If-Done orders, which you won’t find with many retail platforms. Another highlight is the integration with actionable trading signals by Autochartist and FIX APIs for Direct Market Access (DMA) trading.
I used the Standard Swissquote account for my testing, which features an all-inclusive spread from 1.7 pips, higher than the industry average of 1.15 pips. There is also a commission for stock trading starting from $0.02 per share. The account type has a relatively high deposit requirement of $1000, which may prevent some traders from getting started with Swissquote. However, such a high deposit barrier reflects Swissquote’s high-end tools and services for advanced traders.
IC Markets is an Australia-based forex and CFDs broker that was established in 2007. It distinguishes itself through competitive pricing and a rich selection of over 2,200 tradable assets. From my hands-on testing, I found the broker’s cTrader Raw account and platform to be the best combination for low-cost, high-frequency trading.
High-Frequency Trading Features:
High-frequency traders can set up their cTrader Raw accounts with IC Markets by making an initial deposit of just $200. The account offers raw spreads from 0.0 pips and a $6 round-trip commission per traded lot (100,000 units), which aligns with the industry average.
I observed low spreads across the most popular instruments I tested, including 0.06 pips on EURUSD and 9 cents on XAUUSD. For comparison, the industry average spread for the FX Major pair is 0.06 pips, whereas precious metals gravitate around 11 cents. I also verified that IC Markets’ Raw account features the lowest commissions when used on cTrader.
HF traders can leverage cTrader’s multiple features for fast and precise order execution. The platform supports one-click trading for immediate entries and has a coding environment where algo HF traders can automate their trading systems.
Founded in 1974, IG is a major financial institution that has earned a reputation for its deep liquidity, fast execution speeds of 15-25ms, access to more than 17,000 instruments, and a rich assortment of trading platforms and tools. All of these factors make IG my top pick for the best algorithmic trading broker.
High-Frequency Trading Features:
High-frequency traders with IG can choose between the broker’s MT4 and ProRealTime platforms for algo trading. MT4 appeals to traders who prefer more classical setups and off-the-shelf options. They can purchase Expert Advisors (EAs) from the MQL Marketplace and use the platform’s built-in strategy tester to fine-tune their systems’ parameters.
Alternatively, traders can go for the more versatile ProRealTime, which features an advanced environment for algorithmic trading where they can program sophisticated algorithms for different trading environments. Another highlight of ProRealTime is its integration with IG’s trading APIs for low-latency and Direct Market Access (DMA) trading. It allows you to obtain raw spreads directly from an exchange’s order books.
I used the standard CFD Trading account, which requires an initial investment of $50. My tests showed that the broker keeps its forex spreads tight, with a 0.6-pip spread on EURUSD, which beats the industry average of 1.10 pips. On the other hand, commodity spreads were markedly higher, with XAUUSD floating around 40 cents vs 25 cents industry average.
As a part of the IG Group, tastyfx entered the US trading sphere in 2016. I confirmed that it is supervised by the US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), ensuring compliance with US financial derivatives trading regulations. I also learned that tastyfx gives access to over 80 forex pairs via its own platform, as well as MT4, MT5, and ProRealTime.
High-Frequency Trading Features:
I tested tastyfx’s suitability for high-frequency algorithmic trading by opening a Zero+ account, which delivers raw spreads from 0.0 pips. I also observed a $5 round-trip commission applicable to tastyfx’s 86 FX pairs, which is marginally better than the industry average of $6.
From my hands-on testing, spreads on Majors pairs, like the EURUSD, remained tight, but FX Cross spreads (e.g., USDCAD) widened during peak trading hours. I also learned that under CFTC regulation, the maximum retail leverage for HF traders is capped at 1:50.
If you are an HF trader with a penchant for classical setups, I can recommend tastyfx’s MT4 and MT5 platforms. They support algo trading via Expert Advisors (EAs) and feature sophisticated strategy testers, helping you fit your trading strategies to the ever-evolving market.
And for those of you with more sophisticated tastes, tastyfx offers the advanced ProRealTime platform. Thanks to its high functionality, you can program your custom-built indicators and algorithms. Moreover, you can take your trading to the next level with tastyfx’s VPS hosting for achieving lightning-fast order execution.
Below, I have listed several things to consider before choosing a broker for high-frequency trading.
High-frequency trading (HFT) is a complex trading strategy that involves executing numerous large orders to capture small price changes.
Typically, HFT involves algorithmic trading – sets of instructions for entries and exits in and out of the market when certain predetermined conditions are met. Those algorithms are also commonly referred to as Expert Advisors (EAs) and run on the MetaTrader 4 and MetaTrader 5 platforms.
Read more about Best MT4 brokers and Best MT5 brokers.
A trading algorithm is a set of instructions for executing trades. Typically, those relate to the conditions that must be met before an order is placed or closed. For example, if the RSI breaks above the 25-point level and the underlying price is trading above the 20-day, 50-day, and 100-day MAs, place a long order with a protective stop-loss 1 pip below the initial entry and a target level 5 pips above it (note that this is an example and not trading advice).
Multiple such algorithms can be used simultaneously in bulk to squeeze maximum profit from small price fluctuations.
Trading algorithms vary in complexity. A simple limit order (i.e., open a short or long order when the price reaches a certain level) is the most basic type of trading algorithm. A pre-built Expert Advisor (EA) is slightly more complex, usually involving a set of several instructions for trade execution. There are also custom-built trading systems that reflect a trader’s personal approach and are programmed in a coding environment like the one on cTrader.
Check our list of Best brokers with cTrader.
Platforms: If you prefer a more traditional setup, you can go with MetaTrader 4 or MetaTrader 5. The two platforms feature multiple Expert Advisors (EAs) that can be downloaded for free or purchased from the MQL store. MT4 and MT5 also feature strategy testers, where you can see how the EAs would perform in real trading and adjust their parameters accordingly.
There are more sophisticated trading platforms like cTrader and ProRealTime that let you build advanced trading algorithms tailored to your unique style, goals, and needs.
Tools: For a faster and smoother HFT experience, you can use a trading VPS or FIX APIs.
Virtual Private Server (VPS) hosting is used to achieve lightning-fast execution speeds, usually around 2-5ms, and reduce the risk of negative slippage. Some brokers offer it for free to high-volume traders who meet a certain monthly traded volume requirement.
Discover Best brokers with VPS and Best brokers with FIX APIs.
FIX API protocols are used for Direct Market Access (DMA) trading. They allow you to tap into the interbank level and obtain raw spreads directly from an exchange’s order books.
High-frequency trading is a complex and multifaceted field, laden with potential obstacles that can be challenging to pinpoint. Since various factors can lead to unexpected risks, often all at once, it’s vital to have a clear understanding of what might go wrong. That is why I have outlined the three major types of risk traders may face in the world of HFT:
Find out our selection of Best brokers with fast execution.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.