To help you find the best fixed spread broker for forex trading, our team has compared the top brokers with fixed spreads based on the financial services they offer, such as the different currency pairs, CFDs, trading platforms, account types and fixed spreads available.
Updated: 11/06/2021
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Below are Compare Forex Brokers best brokers with non-variable spreads
AvaTrade is a market maker broker that offers the tight spreads on a range of forex pairs. The broker follows a fixed spread, no commission fee pricing structure, and with all compensation for AvaTrade’s brokerage services included in the fixed spreads.
Unlike ECN brokers that use multiple external liquidity providers to fill orders and set bid-ask prices, AvaTrade is a market maker broker. This means they use their own internal liquidity to fill orders while setting their own fixed bid-ask prices.
When trading CFDs and forex with AvaTrade, you can only sign up to fixed spread account types. While floating spreads fluctuate with changing market conditions, AvaTrade’s fixed spreads will remain the same, regardless of the forex markets current volatility and liquidity.
As fixed spreads are stable, it makes it much easier to calculate the trading strategies potential profit and losses. Therefore, if you are a beginner trader with little trading experience, trading fixed spreads provide a soft entry into forex markets.
The table below compared AvaTrade’s fixed spreads to other forex broker’s fixed spreads. Across the board, AvaTrade provides you access to tight spreads and the most competitive pricing overall. For instance, when trading forex with AvaTrade major currency pairs like the EURUSD average 0.90 pips, AUD/USD 1.10 pips and the EUR/GBP 1.50 pips, much lower than competing brokers average up to 3.0-4.0 pips.
Data taken from broker website. Accurate as at 04/06/2021
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As well as forex markets, AvaTrade provides you access to a diverse selection of CFD products. Over 250 financial instruments are available to trade, derived from currency pairs, cryptocurrencies, commodities, indices and stocks. Forex traders can diversify their trading strategies, incorporating CFDs like Bitcoin or Gold.
You can choose between MetaTrader 4 (MT4), MetaTrader 5 (MT5) or AvaTrade’s proprietary trading platforms. Each option provides different market access and trading tools. For example, MetaTrader 4 and MetaTrader 5 offer unique algorithmic trading features where you can write and execute trading robots, known as Expert Advisors. On the other hand, the broker’s web trader platform comes with inbuilt Trading Central technical analysis and pattern recognition tools.
MT4 and MT5 are available as PC or Mac desktop and web trader platforms, as well as mobile trading apps. The proprietary platforms include a web trader platform and mobile apps. AvaTrade offers two types of trading apps for online trading, AvaOptions allows you to trade option and forex markets visually, while AvaTradeGO gives you access to all asset classes.
Whichever trading platform you use, you will be able to use the following features to help you develop strong trading strategies as well as set up and manage your account.
AvaTrade offers an excellent range of social trading tools. If you are a beginner trader, social trading with a fixed spread broker will give you a soft entry into the world of forex and CFD trading. Four different software options are available for social copy trading, including a proprietary AvaTrade account mirroring service known as AvaSocial.
It is worth noting online trading comes with a high risk of losing money. Forex traders can use different tools like order types to help minimise losses, but signing up to a regulated broker and following risk warnings will help you steer clear of scams. AvaTrade is licensed as a financial services provider in seven major financial hubs around the world. The top-tier regulators ensure AvaTrade operates fairly and with transparency, with specific investor protections varying between jurisdictions.
Overall, AvaTrade is the best-fixed spread broker for retail investor accounts. You gain access to a range of products for forex and CFD trading, along with various tools to help you develop trading strategies and manage risk. But most importantly, you can trade ultra-tight fixed spreads, much lower than competing forex brokers.
If you want to practice trading in a risk-free environment, demo accounts are available for each trading platform. If you are looking to open a trading account and get started, AvaTrade requires you to make a small initial minimum deposit of $100.
View AvaTrade Review >>Visit AvaTrade >>
easyMarkets is a fixed spread broker that offers unique trading tools to manage the high risk of forex and CFD trading. The broker operates as a market maker, and likewise to AvaTrade, completes the hedging of your position itself using a dealing desk.
To develop trading strategies and place orders, you can choose either MetaTrader 4 (MT4) or the broker’s proprietary online trading platform. While MT4 provides risk management tools like pending order types, easyMarkets proprietary software comes with premium features not available on MT4.
The easyMarkets trading platform offers exclusive risk management tools that can help you maximise your profits while minimising losses.
Risk management tools can help you reduce a trading strategies risk, yet signing up to a tier-1 regulated broker protects you from unlawful brokerage services. easyMarkets operates two subsidiaries regulated by the following financial authority:
You can choose between three commission-free account types, with easyMarkets offering discounted fixed spreads to active traders. VIP, Premium and Standard Accounts are available depending on the minimum deposit you make.
Standard Account holders can trade fixed spreads as low as 1.9 pips (EURUSD) after making a low minimum deposit of $25 (USD).
If you have a trading account balance of $2,000 (USD) you qualify for a Premium Account where you can trade discounted spreads of 1.4 pips. VIP Accounts require a higher minimum deposit of $10,000 (USD), yet you can trade fixed spreads as low as 0.9 pips.
If you are looking for a regulated broker that provides strong risk management tools, easyMarkets is a great option. You can use exclusive features such as free premium order types, dealCancellation and Freeze Rates to manage the high risk of trading while maximizing your returns.
View easyMarkets Review >>Visit easyMarkets >>
FxPro is a hybrid forex broker that utilise a mix of market maker and no dealing desk execution methods. The multi-regulated broker offers forex and CFD trading brokerage services to its international client base and spread betting service to UK traders.
FxPro’s hybrid execution model allows for excellent trading conditions with fast order execution and minimal slippage.
Trades are executed at FxPro’s Equinix Data Centres in either Amsterdam or London, depending on the trading platform you are using. The broker’s cross-fibre connection with top-tier liquidity providers allows for ultra-fast execution speeds that average less than 11.06 ms.
The broker’s deep liquidity and fast order processing meant last year 99.64% of orders received positive or no requotes, with FxPro executing 91% of trades with no slippage or at a better price.
You can choose from a range of account types that suit different styles and levels of trading experience. You can trade both fixed and variable spreads, using a mixture of trading platforms and execution methods.
After opening an MT4 account you can trade 7 major currency pairs with fixed spreads: EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD and USD/JPY.
Although you can trade a much greater selection of forex pairs and CFDs on MT4, only floating spreads will be available for these financial instruments.
To compare FxPro’s variable spreads with top ECN and STP broker’s like XTB, HotForex, Forex.com, City Index, FXTM and Alpari, you can find a full review of the lowest spreads here.
The Financial Conduct Authority (FCA) permits residents of the UK and Ireland to open a spread betting account. An alternative to CFD trading, spread betting provides tax benefits as your profits are not subject to Capital Gains Tax (CGT).
FxPro offers brokerage services through three different subsidiaries in the United Kingdom, South Africa, Europe and The Bahamas.
The broker offers an account type for every level and style of trading experience. Fixed spreads are available on 7 major currency pairs through MetaTrader 4.
As well as trading forex, you can also sign up to a spread betting account (UK only), or trade floating spreads on hundreds of CFDs and forex pairs.
View FxPro Review >>Visit FxPro >>
OctaFX is a CFD and forex broker that offers multiple account types and trading platforms. When trading forex with the online broker, all fixed spreads are commission-free, with compensation for OctaFX’s brokerage services included in the spread.
You can choose between three account types that offer different spreads and trading conditions:
Although the broker offers an ECN pricing model with variable spreads on MT5 and cTrader, the MT4 Micro Account offers both floating and fixed spreads.
As an MT4 Micro Account holder with the USD as your base currency, you can trade 12 fx pairs and commodities with fixed spreads with no commission fees:
MT4 Micro Trading Account features include:
If you are an existing OctaFX customer and want to activate the fixed spread feature on MT4, you can contact the broker’s customer support team. If you are a new trader, you can select to trade fixed spreads when you create your trading account.
An online broker is a good option if you are looking to trade both fixed and floating spreads from one trading platform and account. There are 12 different forex pairs and commodities you can trade fixed spreads as low as 2 pips, with no additional commission fees.
A spread is the difference between the bid-ask (buy and sell) prices offered by a broker. There are two types of forex spreads being fixed and variable spreads.
Fixed spreads do not move with market conditions and volatility, reducing risk and making it easier to determine potential gains from different trading strategies.
Variable spreads, on the other hand, fluctuate with market conditions and are constantly changing. Variable spreads are also known as floating spreads.
To find a broker with variable spreads, click here to read our review about the best forex brokers globally.
Fixed spreads are often offered by market maker brokers. To gain access to the best fixed spreads available, we recommend AvaTrade, easyMarkets and FxPro for forex trading.
The decision to trade fixed or variable spreads depends on your level of trading experience. If you are a beginner trader wanting to build confidence, you can reduce the high risk of forex by trading fixed spreads. Fixed spreads make it easier to develop profitable trading strategies, as bid-ask prices are not constantly changing.
If you are an experienced trader wanting to execute scalping, day trading or Expert Advisor strategies, variable spreads, although riskier, may be more cost-efficient and profitable.
AvaTrade is the best fixed spread broker overall, offering tight spreads as low as 0.90 pips with no commission fees, excellent trading platform options plus a diverse mix of trading tools. When trading fixed spreads with the online broker, you can automate trading using algorithmic strategies known as Expert Advisors, or use the various social trading tools provided by AvaTrade.
Finally, a key reason AvaTrade is the best option for fixed spread forex trading is that the online broker operates seven subsidiaries around the world, each overseen by top-tier regulatory bodies such as ASIC in Australia and the FSCA in South Africa.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
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