⚡ Easily Trade – Apple, Microsoft , Tesla and Google Stocks - Open a FREE Account Here

      

10 Best Forex Brokers by Spreads

Last Update: June 26th, 2024

Best Forex Brokers by Spreads

 

The 10 Best Forex Brokers by Spreads revealed. Broker spreads are critical and 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

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit 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*)

  1. ☑️FBS – Low-cost MetaTrader platform experience.
  2. ☑️Exness – Award-winning Broker in 2024*
  3. ☑️Pepperstone – Low-cost MetaTrader platform experience.
  4. ☑️XTB – Best customer service.
  5. ☑️AvaTrade – Award-winning FCA-regulated trading platform.
  6. ☑️HFM – Best trading services.
  7. ☑️Octa – The Best Global financial market.
  8. ☑️XM Offers multiple trading account types.
  9. ☑️JustMarkets – Voted multi-asset platform Broker.
  10. ☑️Admirals  – Best trading services.

 

Best Forex Brokers by Spreads

👥 Brokers👉 Open Account💰 Minimum Deposit⚖️ Regulators✔️ Starting spread
1. FBS 👉 Open Account$5IFSC, FSCA, ASIC, CySEC0.7 pips
2. Exness👉 Open AccountDepends on the payment system CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA0.0 pips EUR/USD
3. Pepperstone 👉 Open Account$200ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBVariable, from 0.0 pips EUR/USD
4. XTB 👉 Open Account$0CySEC, ASIC, FSCA, CMA0.5 pips EUR/USD
5. AvaTrade 👉 Open Account$100Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC 0.9 pips EUR/USD
6. HFM 👉 Open Account$0FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA 0.0 pips
7. Octa 👉 Open Account$25CySEC, SVG FSA, FSCA From 0.6 pips
8. XM 👉 Open Account$5FSCA, IFSC, ASIC, CySEC, DFSA, FCA From 0.7 pips
9. JustMarkets 👉 Open Account$10FSA, CySEC, FSCA, FSC From 0.0 pips
10. Admirals 👉 Open Account$1FCA, ASIC, CySEC, JSC, FSCA, FSA, CMA 0.0 pips, Variable

 

10 Best Forex Brokers by Spreads 

FBS 

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.  

FBS

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
⚖️ RegulationIFSC, CySEC, ASIC, FSCA
💻 Account TypesTrade.MT4, Zero.MT4, Trade.MT5, Invest.MT5,
Zero.MT5, Bets.MT5
💵 Minimum Spread0.7 pips
💸 Minimum Deposit$5
📱 Platforms SupportedMetaTrader 4, MetaTrader 5,
📊 Demo AccountYes
👉 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 

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

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
⚖️ RegulationCBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
💻 Account TypesCent Account, Raw Spread account, Zero account, Pro account
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum DepositDepends on the payment system
📱 Platforms SupportedMT4, MT5, WebTerminal, Exness Terminal
📊 Demo AccountYes
👉 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 

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

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
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
💻 Account TypesStandard, Razor
💵 Minimum SpreadVariable, from 0.0 pips EUR/USD
💸 Minimum DepositAUD 200
📱 Platforms SupportedMT4, MT5, cTrader, TradingView
📊 Demo AccountYes
👉 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 

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.  

XTB

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
⚖️ RegulationFCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC
💻 Account TypesStandard, Razor
💵 Minimum Spread0.5 pips EUR/USD
💸 Minimum Deposit$0
📱 Platforms SupportedStandard, Swap Free
📊 Demo AccountYes
👉 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 

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 

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
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
💻 Account TypesStandard account, Retail account, and Professional account.
💵 Minimum Spread0.9 pips EUR/USD
💸 Minimum Deposit$100
📱 Platforms SupportedMT4, MT5, Ava Social, Ava Protect, Trading Central.
📊 Demo AccountYes
👉 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 

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. 

HFM

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
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
💻 Account TypesPremium, Zero, Pro, and HFcopy
💵 Minimum Spread0.0 pips
💸 Minimum Deposit$0
📱 Platforms SupportedMT4, MT5, HFM Platform
📊 Demo AccountYes
👉 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 

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.  

Octa

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
⚖️ RegulationCySEC, SVG FSA, FSCA
💻 Account TypesOctaTrader, MetaTrader 4, MetaTrader 5
💵 Minimum SpreadFrom 0.6 pips
💸 Minimum Deposit$25
📱 Platforms SupportedOcta MetaTrader 4
Octa MetaTrader 5
OctaTrader
Octa App
📊 Demo AccountYes
👉 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 

The broker 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. 

XM

 

Unique Features 

Feature Information
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA, FCA
💻 Account TypesMicro account, Standard account, Ultra-Low account, and Shares account
💵 Minimum SpreadFrom 0.7 pips
💸 Minimum Deposit$5
📱 Platforms SupportedMetaTrader 4 and MetaTrader 5
📊 Demo AccountYes
👉 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  

JustMarkets maintains a low entry barrier with a minimum deposit of $10 and offers an attractive spread starting from 0.0 pips.  

JustMarkets

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
⚖️ RegulationFSA, CySEC, FSCA, FSC
💻 Account TypesMT4 Standard Cent, MT4 Standard, MT4 Pro, MT4 Raw Spread, MT5 Standard, MT5 Pro, MT5 Raw Spread
💵 Minimum SpreadFrom 0.0 pips
💸 Minimum Deposit$10
📱 Platforms SupportedMetaTrader 4
MetaTrader 5
JustMarkets App
📊 Demo AccountYes
👉 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 

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. 

Admirals

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
⚖️ RegulationFCA, ASIC, CySEC, JSC, FSCA, FSA, CMA
💻 Account TypesTrade.MT5, Zero.MT5, Trade.MT4, Zero.MT4
💵 Minimum Spread0.0 pips, Variable
💸 Minimum Deposit$25
📱 Platforms SupportedMT4, MT5, WebTrader
📊 Demo AccountYes
👉 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 strategize 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 circumstances 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. 

 

Best Forex Brokers by Spreads

 

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

FAQs

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. 

You can use reputable broker review websites, the brokers’ fee schedules, and several other sources to compare spreads between brokers. 

Yes, spreads are affected by market liquidity and volatility. 

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. 

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. 

Yes, many brokers provide assets such as equities, commodities, indices, and cryptocurrencies alongside forex.  

Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments