We like the FOREX.com trading app as it has a user-friendly interface that leverages TradingView’s advanced charting. Having good charting tools allows you to access an extensive range of technical indicators to analyze the markets on the go. Keep in mind many brokers advertise spreads “from” a particular low point, but that doesn’t always mean you’ll get that spread all the time. Demo accounts let you observe how often those low spreads are available and how they fluctuate under different market conditions.

This is slightly more often than both Eightcap and FP Markets, which both offered zero spreads 97.83% of the time. What also stands out for offering the most extensive range of cryptocurrencies, with over 90+ markets, including popular options like Bitcoin, XRP, and Ethereum. You can trade AvaTrade’s decent range of markets with various platforms, including AvaTrade WebTrader, MetaTrader 4, and MetaTrader 5. This makes OANDA more accessible by not forcing you to deposit a minimum balance, allowing you to deposit what you feel comfortable to risk – which is ideal for beginners. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com.

1. On the other hand, the Cyprus Securities and Exchange Commission (CySEC) ensures that brokers are part of the Investor Compensation Fund, which covers up to 20,000 EUR in case of insolvency.
2. For beginners, micro or mini accounts are often recommended, as they have low deposit requirements and limit risk exposure.
3. What distinguishes Trading.com amidst the competitive broker landscape is its highly competitive spreads, ensuring cost efficiency for users.
4. A zero-spread broker offers spreads as low as 0 pips on select markets, such as the forex majors like EUR/USD.

How did FX Empire select the Best Zero Spread Forex Brokers?

They offer their very own advanced web-based platform, as well as low spreads and trading fees. IG also has a comprehensive range of educational resources and excellent customer service and support. We found the broker’s range of markets ideal for day traders participating in multiple markets. TMGM offers trading across 61 forex pairs, 1,200 stocks, 12 indices, 10 commodities, and 20 crypto markets, ensuring you can trade multiple markets with a single trading account. This saves you time from opening multiple broker accounts to trade different assets and allows you to deposit your trading capital in one account.

Best Low Spread Forex Brokers Ranked by Trustpilot Score

Brokers will typically offer lower spreads, commissions, and more trading tools to those with higher account balances. Fusion Markets is Canada’s best broker for scalping, providing an excellent trading environment tailored for scalping. They offer the tightest spreads, averaging 0.22 pips on EUR/USD and fast execution times of 79 ms, making your trading costs and the chance of slippage on your scalping low. By design, ECN brokers offer spreads that can start from zero pips because they directly connect traders with the liquidity providers. Instead of making money from spreads, ECN brokers charge a commission for accessing these tighter spreads.

First and foremost, you should remember that standard accounts typically come with either no commissions or ones that are relatively low. Zero-spread accounts, on the other hand, tend to involve notable commissions and other potential fees, not to mention that the minimum deposit requirement for a zero-spread account may also be higher. The broker spreads will never increase as a result of using a rebates service! In the end, trading via a rebates provider will result in lower spreads, period.

You’ll find zero-spreads are offered by ECN/NDD/STP brokers who pass your trades through instantly to the liquidity provider without marking up the prices with a spread. To test the spreads, we tasked our analyst, Ross Collins, to use the RAW account to capture the average spreads across the majors and compare them with 14 other brokers. Ross’ findings proved that Fusion Markets is the cheapest broker after recording an impressive 0.16 pip average spread on EUR/USD. Our live trading fee tests showed that the RAW Spread account, with spreads averaging 0.1 pips on EUR/USD, provides tighter, more competitive spreads than the industry average. In our testing, we found FXCM’s range of platforms impressive, offering something for each trading style. TradingView is ideal for technical analysis because of its impressive range of 100+ indicators and market screening tools to help find new trade ideas.

Is it good to trade on a zero-spread account?

Nowadays, most brokers that support it offer competitive low spreads, and in our tests, we found that the average spread was around 1.24 pips. You are also not limited in your choice of trading platforms, with the broker providing MetaTrader 4, MT5, and cTrader, all top trading platforms. We like that the broker has done this, as it means you can have low trading costs and a choice of popular trading platforms without being forced to use one platform. FP Markets uses a No-Dealing Desk (NDD) model that places your trades directly with liquidity providers.

Trading on a zero-spread thinkmarkets review account can be beneficial due to the absence of spread costs, potentially improving trading profitability. Kaitlyn Wolf is a personal finance, investing and lifestyle writer with over 8 years of experience in the SEO world. Her main focuses include forex, saving for retirement, budgeting and personal investing strategies. She’s passionate about helping others take control of their finances in simple and easy to understand ways. Her work has been published on various investing platforms including MoneyLion and Benzinga.

This can be very beneficial for those who want to make smaller trades and benefit from lesser fees. Trading.com is becoming the go-to choice for traders seeking a straightforward yet effective trading platform. Tailored for modern traders, it boasts a user-friendly interface that streamlines trade executions, especially for those who prioritize simplicity over complex features. What distinguishes Trading.com amidst okcoin review the competitive broker landscape is its highly competitive spreads, ensuring cost efficiency for users.

Indeed, AvaTrade’s overnight charges are quite favorable for swing trading and position trading. From my personal trading experience, I find that the spread on EUR/USD for a commission-free trading account is in line with the industry average. However, the spread is much better than the industry average for GBP/JPY, which can sometimes reach over 3.0 pips. In forex trading, the spread refers to the difference between the bid price and the ask price of a currency pair. The bid price is the price at which you can sell the currency, while the ask price is the price at which you can buy it. Overall, zero spread accounts can be a good option for traders looking to reduce trading costs and simplify their pricing.

For a standard account, where only spread is applicable, there’s an average 0.8 pip spread for the EUR-USD and USD-JPY pairs along with 1.0 pips for the AUD-USD pair and GBP-USD pairs. When a slew of forex broker options are available, making the right choice can become a major task. It takes careful comparative analysis to choose the broker with the tightest dealing spreads that also align with your interests and needs.

With access to zero spread raw pricing trading accounts, a zero requote policy, and multiple MT4 plugins, IC Markets is a top broker to consider. Vantage provides the ability to trade from its own mobile trading app, as well as the MetaTrader 4 trading platform for PC, Mac, and mobile. The MT4 platform is one of the most popular platforms in the world and provides access to 9 timeframes, more than 80 technical indicators, and the capability for algorithmic trading. Based on our hands-on analysis, we’ve identified 6 best options tailored to various trading needs. RAW accounts have tighter spreads from 0.0 pips and pay a commission per trade based on the amount, typically $3.50 per lot. Besides the benefit of lower spreads, ECN brokers are known for their fast execution speeds.

This gives you plenty of selection if you want low fixed spreads on instruments like EUR/USD, S&P500, and gold. FOREX.com is a decent broker with low spreads that make trading more cost-effective. You can enjoy average spreads as low as one pip on EUR/USD and even lower average spreads of 0.1 pips on RAW spread accounts. While there is a $7 commission per lot for the RAW account, it’s in line with industry standards. Now that you’ve seen our picks for the top zero spread forex brokers, check out our rankings of the best brokers for trading forex overall.