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The 10 Best Forex Brokers by Spreads revealed. Broker spreads are a critical aspect that can considerably impact profitability and trading strategies. We conducted extensive research and analysis on the services of different forex brokers to provide the 10 Best according to their spreads.
In this in-depth guide, you’ll learn:
- How to Understand the Role of Spreads in Forex Trading
- The 10 Best Forex Brokers by Spreads
- What is the Importance of Low Spreads in Forex Trading
- Fixed versus Variable Spreads: What is the Difference?
- Our Conclusion on The 10 Best Forex Brokers by Spreads
- Popular FAQs about The 10 Best Forex Brokers by Spreads
And lots more…
So, if you’re ready to go “all in” with The 10 Best Forex Brokers by Spreads…
Let’s dive right in…
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | SVGFSA | USD 5 | Visit Broker >> |
How to Understand the Role of Spreads in Forex Trading
Forex trading relies heavily on spreads, representing the gap between buying and selling prices of currency pairs. These spreads influence profitability and trade outcomes and are crucial for traders as they signify liquidity and fees charged by brokers.
Experienced traders pay close attention to spread fluctuations, capitalizing on narrow spreads during high market activity periods to fine-tune their trades. This blend of art and science is essential in crafting sophisticated trading approaches to reduce costs and maximize market opportunities.
10 Best Forex Brokers by Spreads (2024*)
- ☑️FBS–Low-costMetaTrader platform experience.
- ☑️Exness–Award-winningBroker in 2024*
- ☑️Pepperstone –Low-costMetaTrader platform experience.
- ☑️XTB– Bestcustomer service.
- ☑️AvaTrade –Award-winningFCA-regulatedtrading platform.
- ☑️HFM–Best trading services.
- ☑️Octa – The BestGlobal financialmarket.
- ☑️XM– Offers multipletrading account types.
- ☑️JustMarkets –Voted multi-asset platformBroker.
- ☑️Admirals–Best trading services.
Best Forex Brokers by Spreads
👥 Brokers 💰 Minimum Deposit 👉 Open Account ⚖️ Regulators ✔️ Starting spread 1. FBS $5 👉 Open Account IFSC, FSCA, ASIC, CySEC 0.7 pips 2. Exness Depends on the payment system 👉 Open Account CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA 0.0 pips EUR/USD 3. Pepperstone $200 👉 Open Account ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Variable, from 0.0 pips EUR/USD 4. XTB $0 👉 Open Account CySEC, ASIC, FSCA, CMA 0.5 pips EUR/USD 5. AvaTrade $100 👉 Open Account ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA 0.9 pips EUR/USD 6. HFM $0 👉 Open Account CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine 0.0 pips 7. Octa $100 👉 Open Account Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC 0.9 pips EUR/USD 8. XM $0 👉 Open Account FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA 0.0 pips 9. JustMarkets $25 👉 Open Account CySEC, SVG FSA, FSCA From 0.6 pips 10. Admirals $5 👉 Open Account FSCA, IFSC, ASIC, CySEC, DFSA, FCA From 0.7 pips
10 Best Forex Brokers by Spreads
FBS
Overview
FBS is a trusted forex broker that entices clients with a low minimum deposit of $5. It is governed by several regulatory authorities, including the IFSC and ASIC, which ensure a certain level of dependability.
Traders of all skill levels can benefit from competitive beginning spreads of 0.7 pips and the accuracy of 5th decimal pricing, which improves trading accuracy.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IFSC, CySEC, ASIC, FSCA |
| 💻 Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 💵 Minimum Spread | 0.7 pips |
| 💸 Minimum Deposit | $5 |
| 📱 Platforms Supported | MetaTrader 4, MetaTrader 5, |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FBS offers high leverage of up to 1:3000 | Spreads can be wider than that of competitors |
| There are low stock CFD fees | FBS charges withdrawal fees |
| The account opening process is quick and easy | There is only one retail account |
| FBS offers commission-free trading |
Exness
Overview
Exness stands out for its thin spreads from 0.0 pips on major currency pairs like EUR/USD. Furthermore, Exness offers fast order execution, ensuring traders can keep their trading fees as low as possible.
Exness charges competitively low commissions across instruments and offers commission-free options to all traders, depending on the account type they choose.
In addition, Exness offers a frictionless trading environment with rapid withdrawals, showing how client-centered Exness is.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA |
| 💻 Account Types | Cent Account, Raw Spread account, Zero account, Pro account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | Depends on the payment system |
| 📱 Platforms Supported | MT4, MT5, WebTerminal, Exness Terminal |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness’ spread list is transparent and competitive | The demo account expires after 21 days |
| The spreads on ECN accounts are razor-thin | The product portfolio is limited compared to other brokers |
| Several financial markets can be traded | |
| Exness is a user-friendly broker |
Pepperstone
Overview
Pepperstone is one of the largest brokers in the industry, offering spreads from 0.0 pips on its Razor Account. Furthermore, Pepperstone ensures traders can expect minimal slippage when executing orders.
Pepperstone is reputable and regulated in several countries worldwide, making it a trusted broker for traders globally. In addition, their innovative trading platforms and technologies are intended to offer traders an advantage in fast-moving markets.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
| 💻 Account Types | Standard, Razor |
| 💵 Minimum Spread | Variable, from 0.0 pips EUR/USD |
| 💸 Minimum Deposit | AUD 200 |
| 📱 Platforms Supported | MT4, MT5, cTrader, TradingView |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone is well-regulated and reputable | The standard account spreads can be extremely high |
| Pepperstone has a high monthly trading volume | There is a high minimum deposit required |
| Order execution is reliably fast | |
| Traders can choose between three powerful platforms |
XTB
Overview
XTB’s lack of a set minimum deposit ensures that traders can start trading with any amount. This benefit ensures traders access global financial markets regardless of their budgets.
Furthermore, their advanced trading systems, including the award-winning xStation 5, provide traders with extensive analytical tools and real-time market data.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC |
| 💻 Account Types | Standard, Razor |
| 💵 Minimum Spread | 0.5 pips EUR/USD |
| 💸 Minimum Deposit | $0 |
| 📱 Platforms Supported | Standard, Swap Free |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| xStation is extremely user-friendly and feature-rich | XTB has a limited product range compared to other brokers |
| XTB offers some of the best educational materials | |
| There are commission-free options offered | |
| The standard accounts have competitive spreads |
AvaTrade
Overview
AvaTrade is a trusted Market Maker broker with a fixed-spread schedule, with spreads from 0.9 pips on the Retail Account. Furthermore, traders can expect commission-free trades across instruments as AvaTrade takes its broker fee from the spreads charged.
AvaTrade is dedicated to giving traders access to some of the most comprehensive instructional materials and innovative trading platforms. In addition, their worldwide presence and regulatory compliance in numerous countries offer a safe and dependable trading environment for all traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 💻 Account Types | Standard account, Retail account, and Professional account. |
| 💵 Minimum Spread | 0.9 pips EUR/USD |
| 💸 Minimum Deposit | $100 |
| 📱 Platforms Supported | MT4, MT5, Ava Social, Ava Protect, Trading Central. |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is one of the top forex brokers globally and has a high trust rating | AvaTrade’s spreads are higher than most ECN brokers |
| Spreads are fixed, making it easier to calculate trading costs | There are inactivity fees |
| AvaTrade offers several powerful platforms | |
| Traders can expect commission-free trading |
HFM
Overview
With HFM, traders can start trading EUR/USD with spreads from 0.0 pips in ideal market conditions. HFM also ensures minimal slippage and executes trades within a few milliseconds.
In addition, HFM’s commitment to transparency and regulatory compliance strengthens its reputation as a reliable broker in the forex industry.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 💻 Account Types | Premium, Zero, Pro, and HFcopy |
| 💵 Minimum Spread | 0.0 pips |
| 💸 Minimum Deposit | $0 |
| 📱 Platforms Supported | MT4, MT5, HFM Platform |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| HFM offers micro-lot trading and a Cent Account | HFM has limited deposit and withdrawal methods |
| There are no deposit or withdrawal fees | The spreads on more entry-level accounts can be wide |
| Traders can start trading with any investment amount | |
| HFM offers copy and social trading features |
Octa
Overview
Octa’s competitively low spread of 0.6 pips and the absence of commission costs make it a cost-effective broker for traders who need a competitive edge.
Furthermore, Octa’s emphasis on lowering trading expenses and increasing efficiency makes it an appealing choice for traders trying to stretch their investments further.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, SVG FSA, FSCA |
| 💻 Account Types | OctaTrader, MetaTrader 4, MetaTrader 5 |
| 💵 Minimum Spread | From 0.6 pips |
| 💸 Minimum Deposit | $25 |
| 📱 Platforms Supported | Octa MetaTrader 4 Octa MetaTrader 5 OctaTrader Octa App |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Octa does not charge any commission fees | Octa has limited educational materials |
| Traders can choose between MetaTrader 4 and 5 across devices | There are limited retail accounts |
| Traders can expect a safe and well-regulated trading environment | |
| There are several risk management tools offered |
XM
Overview
XM stands out for its $5 minimum deposit and spreads as low as 0.7 pips. XM charges low and competitive commissions, ensuring traders can keep their trading costs low. Traders can also expect access to personalized customer support and extensive educational guides and resources.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| 💻 Account Types | Micro account, Standard account, Ultra-Low account, and Shares account |
| 💵 Minimum Spread | From 0.7 pips |
| 💸 Minimum Deposit | $5 |
| 📱 Platforms Supported | MetaTrader 4 and MetaTrader 5 |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| XM is well-regulated and has a good reputation | More standard accounts have wider spreads |
| There are tight spreads across major markets | |
| XM offers micro and standard accounts | |
| Traders can expect competitively low commissions |
JustMarkets
Overview
JustMarkets maintains a low entry barrier with a minimum deposit of $10 and offers an attractive spread starting from 0.0 pips.
Furthermore, traders can easily trade micro-lots across markets. JustMarkets aims to ensure its pricing model caters to various traders regardless of their trading objectives or needs.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CySEC, FSCA, FSC |
| 💻 Account Types | MT4 Standard Cent, MT4 Standard, MT4 Pro, MT4 Raw Spread, MT5 Standard, MT5 Pro, MT5 Raw Spread |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | $10 |
| 📱 Platforms Supported | MetaTrader 4 MetaTrader 5 JustMarkets App |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| ECN Accounts have thin spreads | Entry-level accounts have wider spreads |
| Traders can choose from several account types | |
| JustMarkets allows scalping and hedging | |
| There are powerful trading platforms to choose from |
Admirals
Overview
Admirals charge competitive spreads from 0.0 pips, which increases transaction profitability while reducing overall trading costs.
Their powerful trading platforms and comprehensive market research tools help traders make informed decisions.
In addition, Admirals’ focus on education and customer service ensures that traders have the information and assistance they need to successfully navigate the markets, making it a trustworthy forex trading partner.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, ASIC, CySEC, JSC, FSCA, FSA, CMA |
| 💻 Account Types | Trade.MT5, Zero.MT5, Trade.MT4, Zero.MT4 |
| 💵 Minimum Spread | 0.0 pips, Variable |
| 💸 Minimum Deposit | $25 |
| 📱 Platforms Supported | MT4, MT5, WebTrader |
| 📊 Demo Account | Yes |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Admirals is well-known for their educational materials and resources | Admirals’ more standard accounts have wider spreads |
| Admirals offers a large range of tradable instruments | The selection of instruments can be intimidating for beginners |
What is the Importance of Low Spreads in Forex Trading
Spreads are a key topic in the dynamic world of Forex trading since they shape a trader’s approach and ultimate profitability.
There are various reasons why low spreads are extremely important. First, they have a direct influence on the cost of trade. Lower spreads result in lower trading expenses, allowing traders to keep more gains.
This is especially important for high-volume traders and those who use tactics like scalping, where the profit margin of each transaction is small, and efficiency is essential.
Furthermore, tighter spreads improve trading conditions by allowing deals to be executed at prices closer to market rates. This accuracy is critical in fast-moving markets, where even little differences in execution prices can majorly impact transaction outcomes.
In addition, low and competitive spreads increase liquidity, signaling a healthy, competitive market environment in which traders may join and exit positions with minimum slippage, ensuring the integrity of their trading plans.
Narrow spreads are more than just a cost-cutting measure; they are essential for fair, efficient, and even lucrative trading.
They demonstrate a broker’s dedication to offering advantageous trading conditions and are an important consideration for traders when choosing a Forex broker.
Fixed versus Variable Spreads: What is the Difference?
The contrast between fixed and variable spreads is critical in Forex trading, impacting traders’ choice of brokers and methods. As the name implies, fixed spreads are constant regardless of market conditions.
This stability is a huge advantage, particularly for traders who like to strategy without the additional complication of shifting spreads.
Fixed spreads provide consistency in trading expenses, making financial planning and risk management easier. They are especially popular in volatile markets, where they can shield traders from large spreads caused by unexpected market changes.
Variable spreads, on the other hand, fluctuate in real-time as market conditions change. They are often smaller than fixed spreads in normal trading situations, providing a chance for savings.
However, during extreme volatility or low liquidity moments, variable spreads can expand dramatically, raising the cost of trading abruptly. Because of this uncertainty, traders must be more watchful and adaptable in their trading methods, reacting to fluctuating spreads.
The choice between fixed and variable spreads is determined by a trader’s risk tolerance, trading style, and the market circ*mstances in which they are most comfortable.
While fixed spreads give predictability and simplicity, variable spreads can potentially reduce expenses but with an additional degree of complexity and risk.
Overall, understanding the subtleties of each spread type is critical for traders seeking to match their trading activities with their financial objectives and risk management techniques.
Conclusion
In our experience, spreads in forex trading and their importance cannot be overstated.
While we evaluated various brokers and their spreads to find the best ones, we found that spreads are important for reducing trading costs and increasing profitability. Still, they are not the only key consideration.
Other factors like a broker’s regulatory standing, how quickly they execute trades, and the level of support they provide customers are also key in ensuring a positive trading experience.
So, while spreads are important, a thorough assessment of a broker’s offerings provides the most reliable basis for choosing the right trading partner.
For more information on FXLeaders
Frequently Asked Questions
Which types of forex brokers generally offer the lowest spreads?
Brokers with ECN accounts have direct access to liquidity sources, resulting in the narrowest possible spreads. However, ECN accounts typically have commission fees added to the trade to compensate the broker for facilitating the transaction.
How do I compare spreads between different brokers?
You can use reputable broker review websites, the brokers’ fee schedules, and several other sources to compare spreads between brokers.
Do spreads change throughout the day?
Yes, spreads are affected by market liquidity and volatility.
Do low-spread brokers offer bonuses or promotions?
Yes, brokers may provide deposit bonuses or trading incentives. Many brokers have forex cashback rebate programs that can lower trading costs, especially for active traders.
Are low spreads always a sign of a good broker?
No, spreads alone cannot be a sign of a good broker. A good broker must be well-regulated, have a transparent fee schedule, have user-friendly trading platforms, education, trading tools, etc.
Can I trade other assets besides forex with low-spread brokers?
Yes, many brokers provide assets such as equities, commodities, indices, and cryptocurrencies alongside forex.
