To move toward a more successful trading experience, it’s important to know as much information as possible. Of course, making the right trading decisions is vital, but to do that, it’s important to understand specific terms. One of those is ‘spreads.’
Simply, a spread is the difference between the currency pair price when it is bought and when it is sold. The forex broker receives the spread and it allows the trader to access the forex trading market. Spreads vary between forex brokers, but those with low spreads are often the most popular.
Here’s a concise TL;DR focusing on the spreads offered by these brokers:
Pepperstone is a popular broker known for tight spreads, especially in their Razor account which offers spreads as low as 0 pips.
RoboForex has competitive spreads across different account types. Spreads start from 0 pips in their Prime account.
Vantage FX offers low spreads starting at 0.0 pips on RAW ECN accounts.
Admiral Markets offers variable spreads, starting from 0.5 pips depending on the account type.
Exness has low spreads starting at 0.0 pips or major pairs in their Raw Spread and Zero accounts.
XM has tight spreads starting from 0.0 pips on their Ultra Low Account.
IC Markets offers very tight spreads from 0.0 pips in their cTrader and Raw Spread accounts.
FP Markets has competitive spreads starting from 0.0 pips in their RAW ECN account.
IG (Tasty Fx) has spread from 0.8 pips and is known for its transparent pricing.
FOREX.com offers spreads from 1.0 pip on standard accounts but these can be lower on other accounts.
Comparison Table
Broker
Min Spread
Min Deposit
Regulation
Best For
Pepperstone
0.0 pips
$0
ASIC, FCA, DFSA
Razor Account & Fast Execution
RoboForex
0.0 pips
$100
IFSC
ECN Accounts with Flexibility
Vantage FX
0.0 pips
$50
ASIC, CIMA, FCA
Raw ECN & Scalping
Admiral Markets
0.5 pips
$100
FCA, ASIC, EFSA
Multi-Platform Options
Exness
0.0 pips
$10
CySEC, FCA
Low Spread & Account Variety
XM
0.0 pips
$5
CySEC, ASIC, IFSC
Low Spread Ultra-Low Accounts
IC Markets
0.0 pips
$200
ASIC, CySEC, FSA
True ECN Trading
FP Markets
0.0 pips
$100
ASIC, CySEC
Low-Cost ECN & Fast Execution
IG
0.8 pips
$250
FCA, ASIC, others
Extensive Market Offerings
FOREX.com
1.0 pip
$100
Multiple global
US Trader Accessibility
Criteria Breakdown Summary
To accurately review the best forex brokers with lowest spreads, I created a set of criteria to measure each one against. This allowed me to picture each broker in detail and assess its main features, along with its pros and cons. My criteria included spreads, account types, commissions, regulation, platforms, execution speeds, minimum deposits, and tradable instruments. I then rated each of these low spread forex brokers out of five for every element.
Finding a broker with spreads that suit personal trading preferences can be confusing due to the sheer number available. This full and in depth review of the best forex brokers with low spreads in 2024 will help. Let’s get started.
Pepperstone
Best Known for: Razor-Thin Spreads with Razor Account
Pepperstone is well-regarded, and one of the most popular low spread forex broker choices. Established in 2010, this broker has many years of experience, giving extra peace of mind. Spreads start at 0.0 pips, with the lowest available through its Razor account. Overall, this is a forex broker with the lowest spreads, alongside fast execution speeds and many extra features.
Pepperstone offers the lowest spreads in the forex industry. Source: Pepperstone
Features
Pepperstone offers flexibility to traders, with both MetaTrader 4 & 5 available, along with cTrader. Spreads start at 0.0 pips on the Razor account, with commission of $3.50 per lot. Additionally, there are many charting tools and indicators to help with strong decision-making. There are also several risk management tools, along with strong customer support.
Pepperstone generally receives positive feedback for its services, including its low spreads and fast execution speeds. Many users also point to its quality customer support and solid regulatory compliance.
“This Broker is good. Spreads are low .Both my wife and I have accounts with them. Excellent customer service from Liz Kimetu, our account manager. No time wasting with back and forth emails. She just calls and sorts out whatever issues we have.” –Fahim Rashid Shariff via Trustpilot
“Pepperstone has one of the best customer service teams. They have always replied quickly to my requests with the right solutions. Would recommend this broker for their seriousness and the support they provide.” – Soufiane Elame via Trustpilot
Industry experts recommend Pepperstone for both beginner and advanced traders. They mention its strong regulation and range of features to suit many different needs. Our Pepperstone review gives more details.
Price
Pepperstone offers low spreads from just 0.0 pips plus $3.50 commission per lot on its Razor account.
RoboForex
Best Known for: ECN and Prime Accounts with Low Spreads
RoboForex is a well-known broker focused on ECN trading. It is another low spread forex broker that offers a range of features for different trading experience levels. There are many tradable instruments including forex, cryptocurrencies, and stocks. Additionally, risk management tools provide extra peace of mind, such as negative balance protection.
RoboForex is a reputable forex broker with low spreads on currency pairs. Source: RoboForex
Features
RoboForex does not lack features for both beginner and advanced traders. Its ECN accounts offer raw spreads from 0.0 pips, and several trading platforms. These include both MetaTrader 4 & 5 and their associated tools, plus cTrader. Trading fees are competitive, with just $2 per lot, along with a large number of tradable instruments. Additionally, there is a VPS service for algorithmic trading.
Pros
Low spreads and commissions
Supports automated trading strategies
Regulated by IFSC
Cons
Limited regulatory coverage in major jurisdictions
In general, RoboForex users rate this broker very highly, with positive mentions of its low cost, flexible approach. Users emphasize algorithmic trading capabilities and quality customer support.
“I have been trading with this broker for more than 5 years and never have any issue with them, both deposit and withdrawal. They offer many types of accounts to suit individual needs. Personally I have an ECN account and a Standard Pro account. The speed of execution is quite good, but sometimes you will experience some slippage during high volatility sessions. They do offer other trading platforms if you wish not to use MetaTrader 4/5.” – Syamil Abdullah via Trustpilot
“I have been using Roboforex for more than a month. I tried to withdraw my initial deposit ($1000) just for the test and I got my money the same day. Currently I use Roboforex together with trading bot, everything is great. Support is fast, there is a personal manager available. Thanks for the opportunity to earn more.” –Konstantin Soldatkin via Trustpilot
Industry experts recommend RoboForex for all trading experience levels, and praise its range of tradable instruments. Read our RoboForex review for more information.
Price
RoboForex offers ultra-low spreads from 0.0 pips, and charges a commission on their Prime accounts of $2 per lot.
Vantage FX
Best Known for: ECN Accounts with Low-Cost Trading Conditions
Vantage FX is a well-regulated low spread forex broker with good reviews from users and the overall trading community. Its lowest spreads are in its RawECN account, at just 0.0 pips, and overall execution speeds are ultra-fast. This is a broker with plenty of reliability and a good reputation, having been founded in 2009.
For traders looking for a forex broker with the lowest spread available, Vantage offers many features for all trading levels.
Vantage FX is a low spread broker with many repeat users. Source: Vantage
Features
As far as features go, Vantage FX offers plenty for novice and professional traders alike. Spreads start at 0.0 pips on their raw ECN accounts, with commission of just $3 per lot per side. Both MetaTrader 4 and 5 are available, alongside WebTrader and a mobile app for on-the-go trading. This broker has access to a large range of markets, with many tradable instruments to choose from.
Pros
Low spreads and favorable commission structure
Fast, reliable trade execution
Regulated by ASIC, CIMA, and FCA
Cons
Limited proprietary platform options
Minimum deposit requirements may be higher for ECN accounts
Vantage FX receives positive praise for its forex services, with users appreciating its low spreads and fast execution speeds. Many traders also mention that this broker is a steady ship during volatile market conditions.
“Professional customer service. All my queries are answered without delay. Vantage trading platform is top class.” – Benny Thomas via Trustpilot
“Trading has been a breeze with this platform, especially due to the low spreads and fast trade execution. The demo trading feature helped build my confidence before I started live trading. It’s a great option for both beginners and experienced traders.” – Ernest Woodward via Trustpilot
Industry experts recommend Vantage FX for both beginner and professional traders and highlight its reliability and trading platforms. Our Vantage FX review provides more useful insights.
Price
Vantage FX offers spreads from 0.0 pips on its Raw ECN accounts with commissions of $3 per lot.
Admiral Markets
Best Known for: Competitive Pricing with Comprehensive Trading Tools
Admiral Markets is a high quality low spread forex broker that is an ideal choice for intermediate to advanced traders. Founded in 2001, this broker has many features for a comfortable trading experience, including several account types to choose from. Additionally, their risk management features are excellent, including stop-loss orders. There are many tradable assets to choose from, including indices, forex, and stocks, making it a good choice of forex broker with the lowest spreads.
Admiral Markets is a low spread forex broker with multiple tradable instruments.Source: Admiral Markets
Features
Admiral Markets offers a unique range of features that suit many different trading needs, particularly for advanced users. There are several trading accounts on offer with spreads starting at 0.0 pips and competitive commission charges. Both MetaTrader 4 and 5 are available, along with a very large range of tradable instruments for portfolio diversification. However, this low spread broker stands out in particular for its advanced analytical tools and its sophisticated risk management features.
Admiral Markets receives relatively positive reviews from users, mostly thanks to its low cost pricing structure and large range of tradable instruments. Traders also emphasize excellent customer support and response times.
“The support is amazing. My account manager, Zac, is most helpful and keeps me updated on important issues. The experience overall is of a very high quality and I can recommend Admirals with confidence. The whole process is absolutely transparent and transactions are processed quickly.” – Ebrahim Esa via Trustpilot
“I have worked with Admiral company for some years and have good experience. Terms of trade and execution are very good. Support team is professional and friendly. Analytics and seminars are informative and professional, too. Dr. Elder is a star, seminars with him are very useful for real trades.” – Mike via Trustpilot
Industry experts recommend Admiral Markets for experienced traders thanks to its range of advanced tools, especially when using MetaTrader 5. Read our Admiral Markets review for details.
Price
Admiral Markets has spreads from 0.0 pips on its Zero MT5 account and competitive commission charges.
Exness
Best Known for: Low Spreads with a Wide Selection of Account Types
Exness is a very popular low spread forex broker that is renowned for its social and copy trading approach. Its spreads are very low, at 0.0 pips, on its Standard and ECN accounts. With more than 16 years in the industry, Exness is a reliable low spread broker with a range of features to suit both beginner and experienced traders. It also has a range of educational resources for learning and development.
Exness is a low spread forex trader with a focus on social and copy trading. Source: Exness
Features
Exness is a quality all-around low spread forex broker with a range of innovative features for all trading ability levels. It offers low spreads on its ECN accounts at just 0.0 pips and competitive commission fees. Additionally, this broker supports MetaTrader 4 and 5, along with the WebTerminal platform. Many assets are available, including exotic forex pairs.
Exness receives exceptionally high praise for its innovative approach to trading. Users particularly enjoy the low spreads and fast execution speeds. Additionally, flexible trading conditions are mentioned, along with excellent customer support.
“The broker is so good, the availability of tools and indicators, and easy to use. I am so satisfied with the app.” – Abraham via Trustpilot
Industry experts recommend Exness to both beginner and advanced traders, and highlight its strong regulatory oversight as a big advantage. Learn more in our Exness review.
Price
Exnessoffers low spreads from 0.0 pips on its ECN accounts, along with competitive pricing structures across all other accounts.
XM
Best Known for: Low Spreads on Ultra-Low Accounts
XM is a quality forex broker with the lowest spreads, good reliability, and excellent customer support. Established in 2009, XM is well-regarded and is a good choice for both novice and professional traders. Its low-cost trading structure is attractive to traders who prioritize cost-effectiveness and it also covers a large number of international markets. Spreads start at 0.0 pips across a range of assets, including forex, commodities, and stocks. This low spread forex broker also offers several risk management tools, such as negative balance protection.
XM is a well-established forex broker with low spreads. Source:XM
Features
XM’s focus on low-cost trading is very attractive to both beginner and advanced traders. Spreads start at 0.0 pips, with a large range of tradable instruments on offer. MetaTrader 4 and 5 are available on the WebTrader platform. This broker does not charge commissions on its Ultra-Low account, and has a range of advanced charting tools for solid decision-making.
XM is the proud owner of many positive reviews, mostly for its low-cost trading environment and reliability. Many users also highlight the range of educational resources on offer, along with the many tradable instruments.
“I joined the XM broker a few weeks ago and since then I was trading on a demo account and it was a good opportunity to practice. After a while I started trading on a real account and recently I made my first withdrawal of 50$ profit. The transaction was quite good and without any problems.” – Aran Chansiri via Trustpilot
“I’ve traded on different platforms, but after 6 months with XM, I can confidently say it’s one of the best I’ve used. Their trading terms are great, the payments are smooth, and the support is really helpful. I don’t usually make quick judgments, but XM has proven to be reliable for me.” –Aditya Santoso via Trustpilot
Industry experts recommend XM for both novice and experienced traders, especially those looking for cost-effectiveness. Our XM review offers more insights.
Price
XM provides low spreads from 0.0 pips on its Ultra-Low account. There are no commission fees on this account.
IC Markets
Best Known for: True ECN Trading
IC Markets is a solid low spread broker with a true ECN trading environment and some of the most competitive conditions on the market. With more than 17 years in the industry, this broker provides institutional-grade liquidity and exceptionally fast execution speeds. It offers both MetaTrader platforms, and cTrader, to give extra flexibility.
Overall, IC Markets is one of the highest quality brokers with low spreads and one that is very popular.
IC Markets offers low spreads and competitive pricing across many markets. Source: IC Markets
Features
IC Markets has a range of features that suit experienced traders in particular. This includes advanced trading tools and indicators, alon with institutional-grade liquidity. There are several trading platforms available, along with a large and diverse range of tradable instruments. Execution speeds are very fast, and algorithmic trading is supported.
Pros
Exceptionally tight spreads and commissions
Accommodates all trading styles, including scalping
Overall, IC Markets enjoys positive reviews from users, especially for its fast execution speeds and ultra-low spreads. Advanced traders in particular enjoy the many tools and features, along with the true ECN environment.
“Very quick and adequate support. They helped me get back on track within a few minutes while taking good care of the security needed.” – Rudi van Lent via Trustpilot
“I have been with IC Markets for 8 years now and never once have I had any issues in terms of customer service or withdrawals. Love their spreads and server executions. This is definitely the best broker in the world.” – Alabi David via Trustpilot
Industry experts recommend IC Markets for experienced traders, and praise its low-cost structure and range of tradable assets. More in our IC Markets review.
Price
IC Markets offers spreads from 0.0 pips on its Raw Spread accounts with commissions of $3.50 per lot.
FP Markets
Best Known for: ECN Execution and Rapid Execution
Another solid low spread forex broker is FP Markets. With fast execution speeds and a low-cost ECN environment, this broker is a good choice for intermediate to advanced traders. FP Markets was established in 2005, so it has plenty of reliability to give peace of mind. Additionally, it is known for its institutional-grade trading and competitive pricing. There are several trading platforms on offer, and advanced order matching features, making it one of the best low spread brokers.
FP Markets is a low spread broker that utilizes the latest trading technology. Source:FP Markets
Features
FP Markets has many features to create a quality, unique trading environment. It offers ultra-low spreads of 0.0 pips with its Raw ECN account, along with support for both MetaTrader platforms and IRESS. There are many tradable instruments to choose from, making portfolio diversification easy. Additionally, there are several advanced trading tools, along with copy trading capabilities.
Pros
Competitive pricing with raw spreads available
Rapid execution speeds ideal for scalping
Regulated by ASIC and CySEC
Cons
Limited educational resources
Not accessible to traders in certain countries, including the US
FP Markets enjoys positive reviews from users, particularly for its fast execution speeds and highly competitive pricing. Users mention the range of trading platforms and different accounts to choose from. Customer support is also regularly highlighted in positive terms.
Industry experts recommend FP Markets for intermediate to advanced traders. They particularly praise its strong regulation and flexible trading approach. Our FP Markets review provides more information.
Price
FP Markets offers spreads from 0.0 pips on its ECN accounts with $3 per lot commission charges.
IG (Tasty Fx)
Best Known for: Extensive Market Offerings
Tasty FX is part of the IG Group and is tailored specifically toward US customers. It is one of the cheapest forex brokers in the region, and offers access to a large range of markets. The IG Group overall was established in 1974, so there are many years of experience to give extra peace of mind. Additionally, Tasty FX is one of the lowest raw spread forex brokers, with spreads starting at 0.0 pips.
TastyFX is part of the IG Group and is one of the lowest spread forex traders in the US.Source: TastyFX
Features
As part of the wider IG Group, TastyFX offers many of the same features, although with a focus on the US forex market. It has low spreads starting at 0.0 pips and a large range of tradable markets to choose from. There are many advanced research tools, and market analytics. Additionally, this broker offers a proprietary platform along with a mobile app for on-the-go trading.
Pros
Competitive spreads for active traders
Excellent educational resources
Regulated by multiple tier-1 authorities
Cons
Higher minimum deposit for some account types
Limited product range on MT4
Criteria Evaluation
Spread Size: 4/5
Account Types: 4/5
Commission Structure: 4/5
Regulation: 5/5
Execution Speed: 4/5
Platform Options: 5/5
Minimum Deposit: 3/5
Tradable Instruments: 5/5
Community Reviews and Expert Recommendations
IG/TastyFX receives positive reviews from users, particularly for its wide market access and competitive pricing. Users mention the research tools in particular, and the many educational resources.
“I have used IG since 2012. It has been a great experience for me. Everytime time I meet difficulties, IG customer service helps me solve the problem immediately. Even if sometimes I just leave the voice message they reply to me very soon. It gives me great confidence to trade with IG.” – Ka Hay Leung via Trustpilot
“I have been with IG for more than 10 Years. On the odd occasion. when I have had a query, it has always been resolved in good time. I can only recommend them.” –Sarel van der Merwe via Trustpilot
Industry experts recommend IG/TastyFX for US forex traders and praise its focus on research and education.
Price
IG/TastyFX offers spreads from 0.8 pips on major pairs.
FOREX.com
Best Known for: US Trader Accessibility
Out of all the best forex brokers with low spreads, FOREX.com is probably the best known and most reputable. Additionally, this broker accepts US clients, giving it greater market reach. Not only is this zero spread broker very well regulated, but it also has a strong focus on research and education. It also has competitive pricing and many trading tools for all experience levels.
FOREX.com is a well-regulated low spread broker with global reach. Source: FOREX.com
Features
FOREX.com does not lack features and it is a good option for both beginner and experienced traders. It has many account types that all have competitive pricing, along with a large range of tradable instruments. Its proprietary web platform is easy to use and there is also a mobile app. However, this broker’s main focus is on research and education, making it an ideal choice for traders who want to develop.
Pros
Competitive pricing with volume-based discounts
Strong regulatory compliance, ideal for US traders
Extensive educational resources
Cons
Higher minimum deposit compared to some competitors
FOREX.com receives positive reviews from users, particularly for its large range of features, tradable instruments, and research tools. Users appreciate the low spreads, along with the focus on education for all experience levels.
“Great Customer Service! I really appreciate all the wonderful assistance and support I received from Marcus P. He was kind, patient, answered all my questions, and got me off on the right track. I am looking forward to a long and prosperous relationship here.” – Timothy Walker via Trustpilot
“I have had a live account with Forex.com for about three months. All is well so far. I’ll be increasing funds after my trading strategy proves successful. Good to know that this broker is regulated in the US. The challenge is making a profitable strategy with the account constraints required under US regulation.” –Sid Stanton via Trustpilot
Industry experts praise FOREX.com for its strong regulatory compliance and market research. They recommend this broker for both novice and experienced traders. Discover more in our FOREX.com review.
Price
FOREX.com offers competitive spreads on major forex pairs.
Notable Mentions
FXTM (ForexTime)
FXTM, formerly known as ForexTime, is a popular broker with low spreads from 0.0 pips. It has a strong focus on trader education, and is ideal for both beginner and advanced traders.
eToro
eToro is a popular broker that offers social and copy trading capabilities. This broker offers competitive spreads and a large range of tradable instruments. Our eToro review provides more information.
FAQ
What is a low spread forex broker?
A low spread forex broker offers competitive pricing on the difference between the buy and sell pair on forex trading. Low spread forex brokers often have spreads starting at 0.0 pips, which gives a more cost-effective experience for traders.
How do I choose the best low spread forex broker?
Choosing brokers with low spreads requires careful thought and research. It’s important to first consider your trading goals, preferences, and risk tolerance level. Then assess each broker for your specific needs. There are many many low spread forex brokers on the market, but there is no one-size-fits-all choice.
Are low spread forex brokers safe?
All trading comes with some element of risk, which is why it’s important to thoroughly assess each low spread broker before making a choice. Overall, forex brokers are safe if they are regulated by top-tier entities, such as FCA, ASIC, and CySEC. Carefully research each broker’s regulatory compliance to give peace of mind.
What’s the difference between fixed and variable spreads?
Fixed and variable spreads are two terms you will hear a lot when reading about forex trading. Fixed spreads never change; they stay the same even when market conditions are volatile. However, variable spreads are often tight when conditions are normal, and wider during volatile periods.
Low spread brokers create profits through spreads, commissions, and other fees they may charge. Various brokers have different routes, with many using commission-based models and raw spreads, and others providing wide spreads without commissions. Some brokers may also earn money from overnight charges on leveraged positions.
Final Thoughts
I’ve covered a lot of ground in this review of the lowest spread forex broker, showing that there truly is an option out there for everyone. What is also apparent is that each broker has its pros and cons, making it even more important to carefully assess each option before making a decision.
It’s easy to look at a broker’s spreads and be tempted into making a fast choice, but it’s vital to consider the whole picture. This includes regulatory compliance, choice of platforms, reliability, execution speeds, customer support, and extra features. From this, choose a broker that aligns with your trading preferences, goals, and risk tolerance level. It’s also important to occasionally reassess your broker, as market conditions shift and change and your experience grows.
