Best low spread forex brokers

Take a look at the interactive table below to compare the key services each broker in our toplist offers. We personally checked and tested all the features and services we consider most crucial for users.

When it comes to forex brokers, spreads are the main game—they make up most of the fees you’ll pay. That’s why we focused on spreads in our rankings, prioritizing brokers with the lowest ones. Of course, the cheapest isn’t always the best, but keeping costs down matters. Check out the interactive table below to see how the spreads stack up!

Non-trading fees are charges not directly related to a given trade and typically include account maintenance fees, deposit/withdrawal fees and inactivity fees.

Yes, BrokerChooser exclusively recommends legit brokers, overseen by at least one globally acknowledged regulator. We track more than 30,000 brokers and trading platforms that we don’t recommend. To make sure that a broker is reputable and reliable, use our Scam Broker Shield tool.

Key factors that make a broker trustworthy include proper regulation, strong investor protection, and a a long and spotless track record. To learn more, explore the interactive table below, which clearly presents all of these important details.

A zero-spread account is a type of trading account offered by some forex brokers that offers spreads set at a constant zero level for specific currency pairs. Spreads are the difference between the bid (sell) and ask (buy) prices of a currency pair and represent the cost of entering a trade.

In a traditional trading account, spreads can vary depending on market conditions, liquidity, and the broker’s pricing model. They are rarely 0, especially if the broker does not charge a commission. Why is that? Simple: spreads are how forex brokers make money.

At the same time, zero-spread accounts aim to provide traders with a fixed, consistent spread of zero pips for certain currency pairs. Here are some important points to consider:

• While zero-spread accounts offer the advantage of no spread cost, brokers might compensate for this by charging a commission per trade. The commission charged could vary depending on the broker and the account type.
• Zero-spread accounts are usually available for major currency pairs that have high liquidity. Very few brokers – if any – offer zero spreads for all currency pairs due to market conditions and liquidity constraints.
• Zero-spread accounts often use market execution, meaning that trades are executed at the current market price. This can lead to slippage during volatile market conditions.
• A zero-spread account is not always your best option to keep your trading costs low. You should carefully compare the total trading costs of a zero spread account (including commissions) with those of a traditional account (including variable spreads) to determine which is more cost-effective for your trading style and frequency.
• Be aware that certain promises of zero-spread accounts are mere marketing gimmicks and there may be hidden costs.

As you can see, zero-spread accounts are no magic wand. Always check the pricing structure and the actual spreads/commissions that a broker charges for a complete picture. Also keep in mind that spreads change in tandem with market conditions and developments.

If you don’t want to fall prey to false promises of zero spreads and other types of forex scams, do your research.

And now, let’s see the top low-spread forex brokers in detail one by one, starting with the winner, Fusion Markets.

Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform

74-89% of retail CFD accounts lose money

Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options

70.64% of retail CFD accounts lose money

Recommended for spread, forex and CFD traders looking for a great trading platform and quality customer service

86% of retail CFD accounts lose money

Recommended for forex traders looking for great account opening and customer service

75.1% of retail CFD accounts lose money

Recommended for forex and CFD traders who are familiar with the MetaTrader trading platforms

74-89% of retail CFD accounts lose money

Recommended for forex traders who prefer the MetaTrader platform

80.26% of retail CFD accounts lose money

Recommended for spread, forex and CFD traders looking for low fees and great deposit/withdrawal options

64% of retail CFD accounts lose money

Recommended for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms

72.5% of retail CFD accounts lose money

Recommended for traders of any experience level looking for an easy-to-use trading platform

70% of retail CFD accounts lose money

Answer a few questions and get a personalized broker list!

• We checked whether the broker is regulated by a trusted regulator
• Analyzed forex fees, with special focus on spreads
• Checked the number of currency pairs available
• Opened an account and tested the platform (charting, features, usability) with real money

Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser’s unique methodology.

BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users’ experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.

Is there a broker with zero spreads?

There are some brokers where the difference between bid and ask prices start from 0 pips for certain currency pairs. However, these brokers typically charge a fixed commission per trade.

Make sure you go with a reliable broker that is well regulated. The chance of forex scam among non-regulated zero-spread brokers tends to be high.

How to choose the lowest spread forex brokers?

Many brokers advertise themselves as zero-spread brokers, however, this can be misleading. While there are indeed many service providers out there whose minimum spread is 0 or close to 0, for the vast majority of the trades they charge higher spreads. The best way to ensure you trade forex at low costs is to check average spreads, because those reflect the true costs charged by the broker.

Here are some key aspects you should always consider when looking for a low-spread forex broker.

Make sure the broker is legit and well regulated. We advise you go for brokers that are overseen by a reputable regulator, such as the SEC/FINRA in the US, the FCA in the UK, ASIC in Australia or BaFin in Germany. Never ever open an account at an unregulated broker and be aware of brokers regulated only by authorities in tax havens.

Check the pricing structure that a broker applies: some brokers charge only spreads, others charge spreads and commissions. At the latter, spreads tend to be lower but your final trading costs may end up higher. Make sure other fees (such as deposit/withdrawal or account management) are low at the broker you choose. These charges can also add up.

What is the difference between fixed and variable spreads?

Fixed and variable spreads are two different pricing models that forex brokers use to quote the difference between the bid and ask prices of currency pairs. They both come with specific features and risks.

A fixed spread keeps the bid-ask difference constant, offering predictability and appealing to beginners. However, fixed spreads are usually wider than variable ones during low-volatility periods and may not reflect true market conditions.

Variable spreads fluctuate with market conditions, narrowing during high liquidity and widening in low liquidity or volatility. While they can be cheaper than fixed spreads, their unpredictability can add uncertainty during volatile events.

Which spread is best in forex?

The best spread in forex trading depends on your trading style, strategy, and individual preferences. Different trading styles and strategies have different requirements when it comes to spreads.

In scalping, very low spreads are generally preferred as they can have a significant impact on overall profitability. Day traders might still benefit from relatively low spreads but might also tolerate slightly wider spreads compared to scalpers. Swing traders can work with slightly wider spreads as long as they have a strong trading edge while position traders are less concerned with spreads, as their focus is on larger price movements.

Major currency pairs like EURUSD and USDJPY typically have lower spreads due to their high liquidity. Exotic or less commonly traded pairs might have wider spreads. Remember that highly volatility can lead to wider spreads, especially during economic announcements or geopolitical events. Traders who expect to trade during volatile periods might need to consider this when choosing a spread.

While narrow spreads are favorable, take into account other trading costs, such as commissions, swap rates (rollover/overnight fees), and potential slippage. These factors contribute to the overall cost of a trade.

What is the cheapest forex broker?

List of the best and cheapest forex brokers:

1. Fusion Markets – Low trading and non-trading fees. Fast and easy account opening. Great customer service.
2. IC Markets – Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
3. Trade Nation – Low trading fees. Free deposit and withdrawal. Excellent research and education tools.
4. Pepperstone – Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
5. Global Prime – Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
6. Hantec Markets – Low forex and CFD fees. No deposit or withdrawal fees. Extensive forex and CFD offering.
7. TMGM – Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
8. Spreadex – Low forex fees. Good web platform. Helpful customer service.
9. FP Markets – Low forex fees. Easy and fast account opening and funding. Great education tools.
10. IG – First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.