Best Forex Brokers with Low Spreads in 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 lowest spread Forex brokers based on our analysis:
- 1
IC Markets - Best Raw spreads broker - A wide range of trading assets. Low spreads. Variety of trading platforms. - 2
Pepperstone - Wide selection of trading platforms. Tight spreads and favourable trading conditions. Numerous regulatory licenses. - 3
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 4
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 5
- 6
FXOpen - Wide range of trading assets. Low spreads and commissions. Support for various trading platforms. - 7
HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews. - 8
- 9
Libertex - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 10
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.
The spread is among the most important factors when choosing a Forex broker. It's the difference between the buy and sell prices in the currency market. The lower the spread, the more profit a trader can make.
Best Zero Spread Forex Brokers
1. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
2. Pepperstone
Pepperstone is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.
The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favorable trading conditions, various trading platforms, and access to complex trading instruments.
The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.
Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.
Pros and Cons of Pepperstone
Pros
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- Numerous regulatory licenses.
- A large number of trading assets.
Cons
- Lack of diversity in types of trading accounts.
3. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
4. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
5. Admirals
The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals
Pros
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
6. FXOpen
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
7. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
8. Exness
Broker Exness is one of the most attractive companies offering brokerage services for clients worldwide in the Forex market.
Partnership with leaders in financial analytics, minimal commissions, numerous positive client reviews, a well-established operational scheme, and a decent selection of real assets and account currencies makes trading with the broker profitable and secure.
Pros and Cons of Exness
Pros
- Wide selection of trading accounts.
- Instant fund withdrawal.
- Variety of trading platforms.
- A variety of analytical tools.
Cons
- Limited selection of educational materials.
- Average selection of markets and products.
- Deposit fees.
9. Libertex
Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.
Pros and Cons of Libertex
Pros
- Tight spreads and attractive trading conditions.
- Wide selection of trading assets.
- Rich selection of educational materials and analytics.
Cons
- High swaps and inactivity fee.
10. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
How the List of Lowest Spread Forex Brokers was Compiled
The selection of the best Forex brokers with low spreads was based on carefully chosen criteria that ensure optimal trading conditions for traders:
The ranking of brokerage companies is based on our overall list of all Forex brokers, which takes into account various parameters such as reputation, financial stability, and quality of customer service.
The brokers included in the list have been assessed and tested according to our methodology, which analyzes the transparency of trading conditions, availability of communication, level of customer support, and reliability.
The distinctive wording of this list is that it includes brokers with the advantage of spreads below the market average, which is important for traders who want to minimize trading costs and improve trading efficiency.
These standards ensure that the brokers on our list with the tightest spreads meet high-quality requirements and offer trading conditions that provide maximum efficiency and safety for Forex market traders.
FAQ
What is Forex spread?
The Forex spread is the difference between the bid price (the price at which you can sell a currency) and the ask price (the price at which you can buy a currency) of a currency pair. The spread represents the broker's fee for executing the trade and is a key cost for traders. Spreads can be fixed or variable, depending on the broker's pricing model and market conditions.
What is the best spread in Forex?
The best spread in Forex is generally considered to be as low as 0.0 pips, typically found on ECN accounts with major currency pairs like EUR/USD. Low or zero spreads allow traders to minimize costs, especially in high-volume trading strategies like scalping. Brokers offering zero spreads usually charge a commission per trade to compensate for the tight spreads.
Which Forex broker has the lowest spread?
Some Forex brokers are known for offering very low spreads, which can be advantageous for traders. Among the brokers with the lowest spreads are:
- IC Markets: Known for its ultra-low spreads, especially on ECN accounts.
- Pepperstone: Offers competitive spreads on both ECN and STP accounts.
- RoboForex: Provides low spreads on its ECN and Prime accounts.
- FxPro: Known for its low spreads and low commissions.
- AMarkets: Offers competitive spreads across various account types.
These brokers are popular for their cost-effective trading conditions.
What is the best Forex trading platform with the lowest spread?
The best Forex trading platforms with the lowest spreads are typically MetaTrader 4, MetaTrader 5, and cTrader. Brokers like IC Markets and Pepperstone offer these platforms access to tight spreads, often starting from 0.0 pips, particularly on ECN or Raw Spread accounts. These platforms are popular for their advanced tools, fast order execution, and suitability for automated trading strategies.
Which broker has the lowest commissions?
Some of the lowest commissions on ECN accounts are offered by Alpari, RoboForex, and AMarkets. These brokers are known for their competitive conditions for traders, including tight spreads and low commissions on ECN accounts, which makes them attractive to experienced traders who are looking for minimal fees when trading Forex.
What is a raw spread Forex account?
A raw spread Forex account offers traders access to the tightest spreads available directly from the liquidity providers without any additional markup from the broker. This type of account is designed for traders seeking minimal spread costs, typically offering spreads starting from 0.0 pips. However, a commission is usually charged per trade to compensate for the broker's services.
Is there a zero-spread broker?
Yes, some brokers offer accounts with 0 spread, but they typically charge a fixed commission per trade. This allows traders to trade at market prices without additional markups on the spread. Examples of brokers offering zero-spread accounts include:
- RoboForex: Offers ECN accounts with zero spread and fixed commissions.
- Admirals: Provides Zero accounts with zero spread and a fixed commission.
- IC Markets: Offers Raw accounts with fixed commissions per trade.
It is important to consider the total trading costs, including commissions when choosing a broker with zero spread.
How do Forex brokers with zero spreads make money?
Forex brokers with zero spreads make money by charging a commission on each trade instead of marking up the spread. This model allows traders to access the best possible prices directly from liquidity providers while the broker earns revenue from the commissions charged per trade.
Is a low spread good in Forex?
Yes, a small spread is generally considered beneficial in Forex trading for several reasons:
- Lower Trading Costs: Lower spreads reduce the cost of opening and closing positions, which is especially important for active traders and scalpers.
- Improved Scalping Conditions: Scalpers, who make numerous short-term trades, benefit from low spreads as it allows them to capture small price movements more effectively.
- Better Order Execution: Narrow spreads often indicate higher market liquidity, leading to faster and more accurate order execution.
However, it is crucial to consider the overall trading conditions, including any commissions or fees, as some brokers may offset low spreads with higher commission charges. Always evaluate the total cost of trading to determine the best option for your trading strategy.
What is considered a high spread in Forex trading?
A high spread in Forex trading is generally considered to be anything above 2-3 pips for major currency pairs under normal market conditions. High spreads increase trading costs and can erode profits, especially for short-term traders. It’s important to compare brokers and choose one that offers competitive spreads to minimize these costs.
How to choose a Forex broker for scalping?
For scalping, tight spreads and fast order execution speed are important. Choose brokers with ECN accounts, low commissions, and spreads from 0.0 pips. It is also important that the broker does not limit the frequency of trades and offers platforms with tools for quick analysis, such as MetaTrader 4 or 5. Suitable brokers for scalping include Alpari, RoboForex, and AMarkets, which offer favorable conditions for frequent trades with minimal costs.
