The Top Lowest Spread Forex Brokers February 2024

Explore the best low spread forex brokers the industry has to offer right here. Our team has meticulously assessed and handpicked the leading platforms, leaving you with the ultimate selection to choose from. Whether you’re a seasoned trader or just starting out, our curated list ensures accessibility to tight spreads and optimal trading conditions.

Our #1 forex broker with the lowest spread is Avatrade.

Our Top Recommended Low Spread Forex Trading Platforms

List of Top Low Spread Forex Brokers Ranked

After comparing numerous forex brokers, we have compiled a list of the best low spread forex brokers in 2024. Let’s dive straight in.

1. Fusion Markets – Offers very low spreads that start at 0.0 pips across almost all major currency pairs. Charges some of the lowest trading fees among brokers. Minimum deposit amount of $0.
2. FP Markets – Extremely low spread broker with spreads from 0.0 pips, with a minimum deposit of $50. Licensed under 4 regulatory bodies. Excellent choice for zero spread forex trading.
3. Vantage Markets – Highly trusted broker with some of the lowest spreads starting at 0.5 pips. Highly recommended broker for social copy trading. Offers 57 currency pairs for trading, plus more than 1000 tradable symbols. Very competitive fees and commissions especially for the Pro account.
4. IG Markets – Very low spreads and a minimum deposit of $0. Almost a hundred currency pairs to choose from. Allows traders to open a zero spread account that can dramatically reduce trading costs. Wide range of options for deposits and withdrawals.
5. IFC Markets – Spreads start at 0.4 pips on the MT5 platform, but if you use MT4 and NetTradex, the minimum spread is 1.8 pips. Offers a range of unique trading instruments including stock indices, commodities, synthetic instruments, cryptocurrency, and various forex currency pairs. Minimum deposit is $1.
6. Pepperstone – Standard accounts get spreads as low as 0.7 while the Razor account spreads begin at 0.0 pips. Commissions are also very competitive at $3.50 per lot traded. Account opening is fast and easy, and withdrawal fees are low as well.
7. BlackBull Markets – Stands out for rapid execution speed, making it ideal for scalping. Excellent market selection with more than 26,000 financial instruments available for trading. No minimum deposit is required. Client support is excellent and available 24/7.
8. AvaTrade – Offers some of the lowest fixed spreads compared to most other brokers, at only 0.9 on the EUR/USD currency pair. Highly recommended for day trading. Has its own proprietary trading platform, as well as AvaOptions for those who prefer high volatility trading.
9. EasyMarkets – Exemplary range of currency pairs to trade, as well as cryptocurrencies, indices, CFDs, options, and commodities. Very low fixed and variable spreads starting at 0.03. Offers convenient ways to transfer funds. Fast and easy registration.

Comparison of Lowest Spread Forex Brokers Based on Minimum Spreads

Best Zero Spread Forex Brokers for Beginners Reviewed

For a more in-depth look at the brokers we have listed, take a look at these reviews where we have included some pertinent details about each broker, particularly their strengths and unique features. These include minimum deposit requirements, transfer fees, average spread for popular forex pairs, and more. Check out our list and find the best broker that will suit your trading preferences.

1. Fusion Markets

Fusion Markets has by far the lowest spreads across most currencies compared to other forex brokers today, particularly in the RAW account. The company prides itself not only on offering extremely competitive spreads but also on charging minimal commissions. They only get $2.25 per lot traded, which is definitely on the low end in the industry. They also charge no fees for deposits, withdrawals, or even for inactivity. Multiple funding methods are also available, making it very convenient to deposit and withdraw from your account.

Traders can select from more than 90 currency pairs to trade, as well as a myriad of other financial instruments that include over 110 global stock equities, over 10 stock indices, more than 10 precious metal commodities, 3 energy commodities, and a long list of cryptocurrencies as well. Traders can also choose from multiple trading platforms including MT4, MT5, and cTrader.

2. FP Markets

With licenses under four regulatory bodies, two of which have Tier-1 jurisdictions, FP Markets is clearly an established forex trader. It was established in 2005 and has since been known for its incredibly competitive spreads. The company has even been cited as a top zero spread forex broker and indeed, it offers investors spreads that start at 0.0 pips. The minimum deposit is a bit up there at $50 but they do have more than 60 currency pairs to choose from.

Although there are only 130 tradable symbols in the MetaTrader platform, you will find that FP Markets actually has more than 10,000 tradable symbols through the Iress platform. This includes a total of 71 forex pairs. Social trading is also available, and the platform comes with its own downloadable trading app for Android and iOS devices. Read our FP Markets review for 2024.

3. AvaTrade

AvaTrade offers some of the lowest spreads in forex trading, starting at 0.9 for the EUR/USD currency pair. But other than the competitive spreads, forex brokers in also like this broker because they charge 0% commission, which greatly diminishes the trading cost. They also have an exemplary proprietary trading platform, although the MT4 and MT5 platforms are supported as well.

With an impressive 9 regulatory licenses, three of which come from Tier-1 regulators, AvaTrade is a highly trusted broker. It has been running since 2006 and currently has over 400,000 clients. Traders are spoilt for choice with more than 800 trading instruments available, including metals, stocks, indices, cryptocurrencies, commodities and forex.

4. EasyMarkets

Originally known as easy-forex when it started operating in 2001, EasyMarkets formally went by its current name in 2016. This is in line with the significant expansion of trading products that they offer, which now includes metals, commodities, global indices, cryptocurrencies, and of course, forex. Spreads are low and fixed on the MT4 platform and the broker’s proprietary platform, starting at 0.7 pips for EUR/USD. This allows traders to build a more reliable strategy for both long-term and daily trading.

EasyMarkets lets traders choose from three types of accounts to open. In the standard account, the minimum deposit requirement is $100 and spreads range from 0.03 to 2.5 pips on MT4. The Premium and VIP accounts have higher minimum deposits but also have lower spreads.

5. Vantage Markets

Known largely for its excellent social trading platforms, Vantage Market is very popular among copy traders. It has licenses issued by regulatory bodies from all over the world, including the UK, making it a highly trusted broker to work with. Spreads start at only 0.1 pips for the EUR/USD currency pair. The fees and commission are very competitive as well. For every lot traded, Vantage Markets takes only $3, and they do not charge any fees for deposits, withdrawals, or inactivity. There is a minimum deposit amount required of $50.

Vantage Markets is primarily a forex broker so you might not find some of the other trading instruments available in other companies. However, there are more than 50 currency pairs available, which is not bad at all, along with more than 1000 other tradable symbols. The company also takes client security seriously by offering features like negative balance protection and investor protection.

6. IG Markets

One of the more trusted forex brokers around the world, with licenses from 10 regulatory bodies, IG Markets is a favorite among technical traders. With the remarkable array of educational tools available, a dedicated trader can certainly maximize their chances of profit and minimize risk at the same time. IG Markets is known as one of the best zero spread forex brokers

IG Markets has been operating since 1974. Now in its 50th year, it continues to emerge as one of the top forex brokers. There is no minimum deposit, nor is there any deposit or withdrawal fee. They do charge an inactivity fee of $12 per month, but this only takes effect after two years of inactivity. IG Markets does not have the fastest account opening, with the process sometimes taking up to 3 days to complete. However, they do offer plenty of features for client safety, such as negative balance protection, public listing on the stock exchange, and top-tier licenses.

7. IFC Markets

IFC Markets has been serving traders worldwide for nearly two decades now. Established in 2006, this broker caters to both newbies and hardcore traders. Spreads are variable but are generally on the low side compared to other forex brokers. It starts at 0.4 pips on the MT5 platform, and at 1.8 pips on MT4 and NetTradex. Investors can start trading with just a $1 deposit, and you can choose from numerous instruments to trade, starting with 49 currency pairs, which include major, minor, and exotic pairs. In addition, you can also dabble in futures, stocks, metals, soft commodities, and many more.

Payments are accepted through a wide range of online payment services, as well as traditional wire transfers. IFC Markets is suitable for many kinds of trading, including scalping and hedging. They offer a total of 6 account types to cater to all types of traders. Should there be any concern, the company’s client support team is always helpful and easily reachable 24/7.

8. Pepperstone

Pepperstone ticks almost all the boxes in our criteria for the best lowest spread forex brokers. They lead the pack of zero spread brokers, consistently maintaining the 0.0 spread where other brokers were not able to do so. They also charge a minimal commission of only $3.50 per lot traded, which is much lower than average. For the standard Pepperstone accounts, spreads start at 0.7 pips. To enjoy the 0.0 pip spread, you just need to open a Razor account.

This broker does not disappoint when it comes to forex and CFD product selection either. They have more than 100 currency pairs, including all the majors. There is no minimum deposit amount required and they do not charge for inactivity either. Opening an account is fast and easy. The same is true for fund transfers, as Pepperstone offers multiple convenient methods for deposits and withdrawals.

9. BlackBull Markets

Opening an account with BlackBull Markets is surprisingly easy and very fast. The speed does not stop there either because this broker is also well-known for its fast execution speed, which makes it a favorite among scalpers. They offer competitive fees for forex trading, charging only $3 for every lot traded. There is no minimum deposit required as well, and their spreads are notably lower than the industry average. One downside is that they charge a withdrawal fee, although it is not high at all at only $5. There is no fee for inactivity, and they offer a negative balance protection feature.

BlackBull Markets focuses on forex trading so when it comes to product selection, traders will not find some of the other popular trading assets like bonds. However, they do have an impressive 72 currency pairs available for trading, and they also offer 80 stock assets, and numerous CFDs. Social trading is also available through ZuluTrade and Myfxbook.

How to Choose a forex Broker with Low Spreads

A lower spread is definitely much more appealing because it would reduce the trading cost. However, just because a broker offers low spreads doesn’t necessarily mean that you will be getting the best deal from your trades. There are other ways that brokers make money besides the spread, and these are through commissions and non-trading fees. There’s no point chasing after the lowest spread forex brokers when their other fees are sky-high.

When selecting a broker, be sure to take into careful consideration all of these aspects. Some brokers might offer a slightly higher spread, but this could be because it is inclusive of all trading fees. Others might offer zero spreads but they might make up for it by charging hefty commission fees or non-trading fees.

Why is a Low Spread More Attractive in Forex Trading?

A lot of avid investors are seeking the lowest spread forex brokers because these are favorable for trading in smaller quantities, or with higher frequency. The low spread also translates to lower trading costs as compared to trading in other forex pairs. Furthermore, newcomers to the world of forex would also find it advantageous to choose the low spread forex brokers. Until they can confidently navigate the fluctuations in a much more volatile market, then it’s much more advisable to stick with low spreads.

Generally, major currency pairs have a low spread, but there are a number of other factors that could also play a part. This includes unexpected economic or political events, which can trigger a sudden increase in volatility and ultimately, a longer spread.

Types of Spreads in Forex

In the dynamic landscape of forex trading, there are two types of spreads:

Factors Affecting Forex Spreads

Forex spreads aren’t static; they’re influenced by various factors that shape market conditions. By understanding these factors, traders can anticipate spread movements and adapt their trading approach accordingly to maximize profitability while minimizing costs. Here’s what drives spread fluctuations:

1. Market Volatility: High volatility often leads to wider spreads as traders demand higher compensation for increased risk.
2. Liquidity: Currency pairs with higher trading volumes tend to have tighter spreads due to increased market depth and liquidity. Major pairs like EUR/USD and GBP/USD typically boast the narrowest spreads.
3. Broker Policies: Each broker has its own pricing structure, including minimum spreads, markups, and commission rates. It’s crucial to evaluate these policies to ensure they align with your trading strategy and objectives.

Forex Pairs with the Lowest Spreads

Seeking out forex pairs with consistently low spreads can significantly impact trading profitability. By focusing on these pairs, traders can minimize trading costs and capitalize on potential profit opportunities in the forex market with enhanced efficiency and precision. Here are some pairs renowned for their tight spreads:

• EUR/USD: Known as the most traded currency pair globally, EUR/USD typically offers narrow spreads, making it a favorite among forex traders.
• USD/JPY: The USD/JPY pair boasts relatively tight spreads, thanks to its high liquidity and stability, particularly during Asian trading hours.
• GBP/USD: Another popular choice, GBP/USD, commonly features competitive spreads due to the significant trading volumes associated with both currencies.

Sign Up With a Low Spread No Commission Forex Broker

Signing up with a regulated zero-spread forex broker can bring many benefits. But choosing the right one isn’t always easy. You need to carefully check all your options to make sure they match your trading style and what you prefer. Look closely at the info we’ve given you above, and try out each broker’s demo account yourself. It might take some work, but finding a trustworthy broker for your forex trading will definitely pay off in the end.

Resources

• https://www.fca.org.uk/news/warnings/safe-forex-trading
• https://www.investopedia.com/articles/forex/08/forex-commission-spread.asp
• https://money-gate.com/the-complete-list-of-30-top-forex-regulatory-bodies-in-the-world/
• https://www.ig.com/en/trading-strategies/what-is-the-spread-in-forex-and-how-do-you-calculate-it-201126
• https://www.eba.europa.eu/guidelines-treatment-structural-fx-under-article-3522-crr
• https://www.forexonlinebrokers.com/best-spread-betting-brokers/
• https://www.ig.com/uk/spread-betting/spread-betting-vs-cfds/tax
• https://www.cnbc.com/2019/10/13/battle-for-client-assets-heats-up-as-brokers-cut-fees-to-zero.html

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