Best Forex Brokers with Fixed Spreads in 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top fixed spread Forex brokers based on our analysis:
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IFC Markets - Best fixed spread Forex broker - A wide range of trading assets. Variety of trading platforms. Educational materials for traders of all experience levels. - 2
InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 3
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HYCM - Well-regulated broker. An extensive set of educational materials. Diversity of trading assets. - 5
FreshForex - It has been on the market since 2004 and has established itself as a reliable and stable broker. Variety of trading accounts. Quality analytics. - 6
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- 8NordFX - Diversity of trading accounts and services. Tight spreads. Wide range of deposit and withdrawal methods.
Fixed spread forex trading is gaining momentum among investors seeking consistency and predictability in their trades. The market is saturated with many fixed-spread brokers, which makes it necessary for traders to find the most effective and suitable solutions for their trading strategies. This list of brokers is designed to simplify this selection process.
Fixed Spread Forex Brokers List 2024
1. IFC Markets
IFC Markets is a reliable and licensed broker, offering a broad spectrum of trading instruments and platforms for investors of various experience levels. With multilingual support and extensive educational resources, the company aims to provide its clients with a comfortable and efficient trading environment.
IFC Markets could be a suitable choice for investors seeking a variety of trading instruments and platforms.
Pros and Cons of IFC Markets
Pros
- A wide range of trading assets.
- Variety of trading platforms.
- Educational materials for traders of all experience levels.
- Tools for creating synthetic tools are available.
Cons
- High swaps.
2. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
3. World Forex
World Forex offers traders a variety of trading accounts and competitive conditions with low spreads, making it an attractive choice for clients interested in saving on trading costs. Support for the popular MetaTrader 4 and MetaTrader 5 trading platforms guarantees a high level of convenience and functionality, while a large selection of payment systems and the broker's coverage of deposit fees simplify financial transactions.
WForex is best suited for active traders who prefer short-term trading and can take advantage of low spreads and a wide choice of payment systems. The broker will be less attractive for beginners due to the lack of training resources and for those looking for long-term investment opportunities due to high swaps.
Pros and Cons of WorldForex
Pros
- Various trading accounts.
- Low spreads.
- Availability of popular trading platforms.
- A wide range of payment systems and broker-covered commissions on deposits.
Cons
- Limited selection of educational materials.
- There is an absence of soft commodities and indices.
- High swaps.
4. HYCM
HYCM is one of the Forex and CFD market leaders whose reputation is backed by strict regulation by major financial authorities such as the FCA, CySEC and DFSA. This ensures high protection of the client's funds and compliance with regulatory standards. The broker offers a wide range of trading platforms, including MetaTrader 4 and MetaTrader 5, recognized as some of the most reliable and functional in the industry. The variety of trading instruments available allows you to create a diverse investment portfolio, while a rich selection of educational resources supports traders at all stages of their professional development.
HYCM will be most suitable for traders looking for reliability and diversity in the toolkit without worrying about high commissions and a lack of innovative platforms. This broker is ideal for experienced traders who can use the analytical and educational resources provided to improve their trading strategies.
Pros and Cons of HYCM
Pros
- Well-regulated broker.
- An extensive set of educational materials.
- Diversity of trading assets.
Cons
- Absence of proprietary trading platform.
- No social trading.
- High trading fees.
5. FreshForex
FreshForex is a broker with rich experience in the market since 2004, and it has established itself as a stable and reliable partner. The broker offers a variety of trading accounts that can meet the needs of different categories of traders, including accounts with fixed and floating spreads and with market execution. An additional advantage is an extensive set of educational materials and analytics that can be useful for beginners and experienced traders.
However, there are significant disadvantages to consider. The lack of regulation by major financial institutions such as the FCA or ASIC can be critical for traders looking for maximum security for their funds. Also, the lack of a native mobile app can limit the ability to trade on the go, although this is offset by support for the popular MetaTrader 4 and MetaTrader 5 platforms. High trading commissions on ECN accounts can deter traders from seeking more favorable trading conditions.
Overall, FreshForex is suitable for traders who appreciate the variety of trading accounts and educational resources. The broker is especially ideal for those willing to accept some risk associated with the lack of regulation by reputable authorities.
Pros and Cons of FreshForex
Pros
- It has been on the market since 2004 and has established itself as a reliable and stable broker.
- Variety of trading accounts.
- Quality analytics.
- Extensive education program.
Cons
- Lack of regulation by major financial authorities.
- Absence of a mobile application.
- High trading fees.
6. Forex4you
Forex4you is a broker with years of experience in the market, offering its clients a variety of trading instruments and platforms. On one hand, the broker provides exciting opportunities such as the Cashback program and various analytical tools. On the other hand, certain aspects, such as commissions and limited deposit methods, may pose particular difficulties for traders.
Forex4you is probably most suitable for intermediate and experienced traders looking for flexibility in choosing trading platforms and value analytical tools.
Pros and Cons of Forex4you
Pros
- Variety of trading accounts.
- Cashback program.
- Variety of trading platforms.
- Many analytical tools.
- Fast and professional response of the support service.
Cons
- Swaps are above the market average.
- Limited deposit methods.
- Limited product selection.
7. BCS Markets
BCS Markets is a broker that suits traders of all levels. The broker is a cost-effective solution for active traders thanks to tight spreads and low swaps. It offers beginners extensive educational materials and support for popular trading platforms. The broker also provides high-quality analytical tools for making informed trading decisions.
However, it should be noted that BCS Markets has offshore regulation, which may raise questions about the safety of funds. In addition, the limited number of deposit and withdrawal methods, the small range of available trading products, and the inactivity fee may create certain inconveniences for traders.
This broker is reliable for those ready to work within its specific features and conditions.
Pros and Cons of BCS Markets
Pros
- Tight spreads.
- Commission-free account funding.
- Accessible trading platforms.
- Inclusion of quality analytics from experts in the service package.
- Educational materials to help novice traders master trading.
Cons
- Offshore regulation.
- Inactivity fee and high swaps.
- Limited number of deposit and withdrawal methods.
- Small number of trading assets.
- Non-24/7 technical support.
8. NordFX
NordFX is a broker with various trading accounts and conditions, making it attractive for different categories of traders — from beginners to professionals. Tight spreads and analytical tools are backed by good technical support, which is a significant plus.
NordFX is suitable for traders who prefer to use MetaTrader 4 and who do not require a wide range of CFDs or alternative trading platforms. This broker is perfect for those seeking diverse market analysis options and personalized support.
Pros and Cons of NordFX
Pros
- Diversity of trading accounts and services.
- Tight spreads.
- Wide range of deposit and withdrawal methods.
- Extensive set of analytical tools.
- Good customer support.
Cons
- Lack of regulation.
- High commission on Zero account.
- Long withdrawal request processing time.
- Lack of soft commodities and limited overall number of CFDs.
- There are no alternatives to MT4.
How We Compiled the List of the Best Fixed Spread Brokers
The selection of the best fixed-spread Forex brokers have been meticulously curated based on the following key factors:
The rankings of the brokers are derived from our independent assessments found at Forex Broker Rankings.
These brokers have earned ratings and were tested according to our specialized methodology, which evaluates various performance metrics.
Importantly, all brokers in our list offer trading accounts with fixed spreads.
This rigorous selection process ensures that the brokers featured on our list adhere to high security and efficiency standards and specifically cater to those seeking the predictability and stability of fixed spreads in their Forex trading.
FAQ
What is a fixed spread in Forex trading?
A fixed spread in Forex is the difference between the buy and sell price of a currency pair that remains the same regardless of market conditions. Unlike a floating spread, a fixed spread allows traders to know their trading costs in advance, which is especially useful in highly volatile markets.
How Do You Calculate Fixed Spread in Forex?
To calculate a fixed spread in Forex, simply subtract the bid price from the ask price of a currency pair. For example, if the bid price is 1.1050 and the ask price is 1.1053, the fixed spread is 0.0003, or 3 pips. Unlike variable spreads, fixed spreads remain constant, making this calculation straightforward and predictable at all times.
Are fixed spreads better than floating spreads?
It depends on individual trading strategies and preferences. Fixed spreads provide predictability and stability, which is beneficial for budgeting and some strategies such as scalping or automated trading. Variable spreads may be lower under normal market conditions, but they fluctuate depending on market liquidity and can widen significantly during volatility, which may suit experienced traders.
What are the costs associated with fixed-spread Forex trading?
The spread itself is the main cost associated with fixed spread forex trading, which is usually higher than the average floating spread to cover the broker's risk. In addition, traders may face other costs such as overnight holding fees (swap rates), commission fees (if applicable), and potential account maintenance fees. It is important to take a comprehensive look at the broker's fee structure.
Is it safe to trade with a fixed-spread Forex broker?
Trading with a fixed spread Forex broker is generally safe, provided the broker is reputable, regulated, and adheres to industry standards. Traders should ensure the broker has robust security measures, follows regulatory requirements, and offers transparent trading conditions. However, safety also depends on the trader's knowledge, risk management practices, and trading strategy.
Do different brokers offer different spreads?
Yes, different brokers offer different spreads. This variation is due to factors such as the broker's liquidity providers, market access, and business model. Traders should compare brokers to find the spreads that best suit their trading style and objectives.
Is there a zero-spread Forex broker?
Some brokers offer zero spread accounts, where spreads start at 0 pips. However, it's important to note that while the spread might be zero, these accounts often incur commission fees or other trading costs. Traders should carefully evaluate the overall cost structure to understand the true cost of trading on such accounts.
