Which forex broker has the lowest average spread?
TabTrade has the lowest average spread among brokers that disclose the period or method behind their average: 0.03 pips on EUR/USD with its Edge account, the April 2026 figure Datalyst measured and TabTrade published on its own spreads page.
Ordered by published average EUR/USD raw spread (Myfxbook for Exness), lowest first; brokers that state how and when they measured come first.
- TabTrade: 0.03 pips, April 2026
- Pepperstone: 0.1 pips, August 2026
- Exness: about 0.2 pips on Myfxbook
- FxPro: 0.43 pips, previous day
- IC Markets: 0.01 pips, no period stated
- Fusion Markets: 0.03 pips, our calculation
- FP Markets: 0.1 pips, described as typical
- GO Markets: 0.1 pips, no period stated
- RoboForex: 0.1 pips, no period stated
- Tickmill: 0.1 pips, labelled typical
Published average EUR/USD raw spreads, retrieved September 27 and 28, 2026
| Rank | Broker | Score | Account | Average EUR/USD (pips) | Basis and period, as published | Commission per side (US$) | All-in cost, 1 lot round turn (US$) | Source, retrieved | Visit |
|---|---|---|---|---|---|---|---|---|---|
| 1 |  TabTrade | 81.5 | Edge | 0.03 | April 2026 average, measured by Datalyst from tick data (compiled May 4, 2026), published by TabTrade | 3.50 | 7.30 | tabtrade.com, September 28, 2026 | Visit |
| 2 |  Pepperstone | 93.5 | Razor | 0.1 | August 1-31, 2026, all trading sessions including rollover | 3.50 (from) | 8.00 | pepperstone.com, September 27, 2026 | Visit |
| 3 |  Exness | 80 | Not named by Myfxbook | About 0.2 (0.19-0.26) | Myfxbook session averages, September 24-26, 2026, commission excluded (Exness advertises 0.0) | 2.50 (varies by region) | About 7.00 | myfxbook.com, September 27, 2026 | Visit |
| 4 |  FxPro | 58.5 | cTrader | 0.43 | Previous day’s average, updated daily (data dated September 25, 2026) | 3.98 (US$35 per US$1 million) | 12.27 | fxpro.com, September 27, 2026 | Visit |
| 5 |  IC Markets | 89 | Raw Spread | 0.01 | Labelled average, no period stated (the same page’s headline says 0.1) | 3.50 (MT4) | 7.10 | icmarkets.com, September 27, 2026 | Visit |
| 6 |  Fusion Markets | 85 | Zero | 0.03 | Our mean of its published hourly averages, August 27-September 25, 2026 | 2.25 | 4.80 | fusionmarkets.com, September 27, 2026 | Visit |
| 7 |  FP Markets | 78.4 | Raw | 0.1 | Column headed “Avg” in a table dated September 2026, described as typical, no method stated | 3.00 | 7.00 | fpmarkets.com, September 28, 2026 | Visit |
| 8 |  GO Markets | 68.8 | GO Plus+ | 0.1 | Labelled average, no period stated | 2.50 | 6.00 | gomarkets.com, September 27, 2026 | Visit |
| 9 |  RoboForex | 64.4 | ECN | 0.1 | Labelled average, no period stated | 2.28 (US$20 per US$1 million) | 5.55 | roboforex.com, September 28, 2026 | Visit |
| 10 |  Tickmill | 75.8 | Raw | 0.1 | Labelled typical, not average, no period stated | 3.00 | 7.00 | tickmill.com, September 27, 2026 | Visit |
Some of the abbreviations on this page are expanded to the regulator's full name: a broker regulated by ASIC is regulated by the Australian Securities and Investments Commission; by FCA, the Financial Conduct Authority; by DFSA, the Dubai Financial Services Authority.
Every figure in the table is the broker's own published claim, with two exceptions: Exness, whose figure comes from Myfxbook, and Fusion Markets, whose 0.03 pips is our arithmetic on the hourly averages it publishes. We read TabTrade, FP Markets, and RoboForex on September 28, 2026, and the other seven brokers on September 27, 2026. Because the periods and methods behind each number differ, the columns are not like for like. The all-in cost is the spread multiplied by US$10 per pip for one standard lot, plus two sides of commission. RoboForex and FxPro charge per US$1 million traded, so their commission is costed on one EUR/USD lot of EUR 100,000, which is US$113,790 at the EUR/USD rate of 1.1379 dated September 25, 2026.
Sort the table by average spread, commission per side, or all-in cost, and no broker's rank changes when you do.
All-In Cost: Spread Plus Commission
A spread of 0.03 pips looks cheaper than 0.43 pips, but you pay commission on every trade, so the number that hits your account is the all-in cost. Fusion Markets sits at the cheap end at US$4.80 per lot, while FxPro sits at the other end at US$12.27, and that gap is wider than any spread difference on the list. You will also notice the order in this table differs from the ranking, because commission changes the result. I would compare this table before you choose a raw account, since a slightly higher spread with lower commission can still cost you less per lot.
| Broker | Average EUR/USD (pips) | Spread cost per lot (US$) | Round-turn commission (US$) | All-in cost per lot (US$) |
|---|---|---|---|---|
| Fusion Markets | 0.03 | 0.30 | 4.50 | 4.80 |
| RoboForex | 0.1 | 1.00 | 4.55 | 5.55 |
| GO Markets | 0.1 | 1.00 | 5.00 | 6.00 |
| Exness | About 0.2 | About 2.00 | 5.00 (varies by region) | About 7.00 |
| FP Markets | 0.1 | 1.00 | 6.00 | 7.00 |
| Tickmill | 0.1 | 1.00 | 6.00 | 7.00 |
| IC Markets | 0.01 | 0.10 | 7.00 | 7.10 |
| TabTrade | 0.03 | 0.30 | 7.00 | 7.30 |
| Pepperstone | 0.1 | 1.00 | 7.00 | 8.00 |
| FxPro | 0.43 | 4.30 | 7.97 | 12.27 |
All-in cost per standard lot of EUR/USD, lowest first (US$)
- Spread
- Commission, both sides
- Fusion MarketsUS$4.80US$0.30 spread + US$4.50 commission
- RoboForexUS$5.55US$1.00 spread + US$4.55 commission
- GO MarketsUS$6.00US$1.00 spread + US$5.00 commission
- Exnessabout US$7.00US$2.00 spread + US$5.00 commission
- FP MarketsUS$7.00US$1.00 spread + US$6.00 commission
- TickmillUS$7.00US$1.00 spread + US$6.00 commission
- IC MarketsUS$7.10US$0.10 spread + US$7.00 commission
- TabTradeUS$7.30US$0.30 spread + US$7.00 commission
- PepperstoneUS$8.00US$1.00 spread + US$7.00 commission
- FxProUS$12.27US$4.30 spread + US$7.97 commission
Spread cost = published average (pips) × US$10 · Commission = both sides · Source: the table above, read September 27 and 28, 2026
Lowest All-In Cost Per Lot
The lowest all-in cost per standard lot of EUR/USD is Fusion Markets at US$4.80: 0.03 pips by our arithmetic on its published hourly averages, plus US$4.50 round-turn commission.
Each all-in cost is the published average spread, at US$10 per pip per standard lot, plus the published commission on both sides, read September 27 and 28, 2026. RoboForex follows at US$5.55 per standard lot. Its own FAQ, read September 28, 2026, confirms the commission is charged per side on the lot’s US dollar value, so it comes to US$2.28 per side and US$4.55 round turn. Fusion Markets ranks sixth on spread because it publishes hourly averages rather than a single average with a stated period or method: its 0.03 pips is our calculation, and the ranking puts brokers that state the period or method of their own average first. It leads on all-in cost because its US$2.25 per-side commission (US$4.50 round turn) is the lowest of the ten, so I would put all-in cost ahead of spread when you compare raw accounts.
Its figures come from this page's all-in cost table, read September 27 and 28, 2026, with Myfxbook the source for the Exness spread.
Broker reviews
1. TabTrade
Average EUR/USD
0.03 pips (April 2026)
Commission per side
US$3.50
All-in cost, 1 lot round turn
US$7.30
Regulators
FSC Mauritius (TabTrade (Mauritius) Ltd)
Why TabTrade Ranks First
TabTrade publishes an average EUR/USD spread of 0.03 pips on its Edge account, measured by Datalyst, an independent third party, from tick-level data covering April 2026 and compiled on May 4, 2026. That stated period and method are why it ranks first: you can date the figure and check it. It is about five months old as at September 28, 2026, so treat it as a snapshot rather than a live number. Commission is US$3.50 per side (US$7 round turn), giving an all-in cost of US$7.30 per standard lot, US$0.30 of spread plus US$7.00 of commission.
What To Weigh
Before you open an account, check which of its two companies your agreement names. TabTrade (Mauritius) Ltd holds FSC Mauritius licence GB26206419, dated July 2, 2026, while TabTrade Ltd is registered in Saint Lucia as an IBC, which is a company registration and not a financial licence. There is no negative balance protection on any account, and its documents name no investor compensation scheme for either company. It does not accept residents of Australia, New Zealand or the United States. On the Edge account some client flow may be matched internally, with TabTrade acting as counterparty. I would want the entity question answered before depositing.
Pros & cons
- Lowest stated-period average spread: 0.03 pips
- Independent third-party measurement by Datalyst
- All-in cost US$7.30 per standard lot
- No negative balance protection on any account
- No named investor compensation scheme
- Excludes Australian, New Zealand and US residents
2. Pepperstone
Average EUR/USD
0.1 pips (August 2026)
Commission per side
From US$3.50
All-in cost, 1 lot round turn
US$8.00
Regulators
FCA, ASIC, BaFin, CySEC + 4 more
Why Pepperstone Ranks Second
Pepperstone publishes an average EUR/USD spread of 0.1 pips on its Razor account, drawn from data between August 1 and 31, 2026, covering all trading sessions, including rollover periods, when thin markets can push spreads wider. Commission runs from US$3.50 per side per lot (US$7 round turn), so the all-in cost is US$8.00 per standard lot, US$1.00 of spread plus US$7.00 of commission. Because the period and the method are stated, you can date the figure and check how it was built. A month that includes rollover is a fairer guide to your real costs than a number with no period at all.
What To Weigh
Its Standard account publishes an average of 1.1 pips on EUR/USD with no commission, which is US$11 per lot against US$8.00 all-in on Razor, so at the published averages the raw account is cheaper on every lot you trade, whatever your size. Platforms are MT4, MT5, cTrader, and TradingView. One thing to check before you join: the global page the figure comes from belongs to the Bahamas (SCB) entity, so confirm which entity your account agreement names, because Pepperstone also holds FCA, ASIC, BaFin, CySEC, DFSA, and CMA licences.
3. Exness
Average EUR/USD
About 0.2 pips on Myfxbook (advertised 0.0)
Commission per side
US$2.50 (varies by region)
All-in cost, 1 lot round turn
About US$7.00
Regulators
FCA, FSCA, CySEC (institutional) + 7 more
Why Exness Ranks Third
We rank Exness on Myfxbook's data, not its own figure, because I do not treat Exness's published spreads as accurate. Exness advertises an average of 0.0 pips on its Raw Spread account, stated as the average for the previous trading day. Myfxbook's EXNESS feed showed EUR/USD session averages of 0.26 pips (previous session) and 0.19 pips (last session) across the window September 24, 2026, 06:48 GMT to September 26, 2026, 06:58 GMT, so this page ranks it on about 0.2 pips. That Myfxbook average is higher than the 0.0 pips it advertises. Myfxbook excludes commission and does not name the Exness account type behind the feed.
What To Weigh
Exness commission varies by region. Its EUR/USD page showed US$2.50 per side to a South African visitor, while our broker dataset holds US$3.50 per side (US$7 round turn). At about 0.2 pips and US$2.50 per side the all-in cost is about US$7.00 per lot, and about US$9.00 at US$3.50 per side. The Myfxbook figures also show the same pair costing different amounts in different sessions: GBP/USD sat at 0.01 pips in the New York session against 0.27 in Sydney on the last reading. Check the commission that applies in your region before you compare.
I would send Exness to traders who accept a US$200 minimum deposit, want MT4 and MT5, and are happy paying about US$7.00 per lot all-in on EUR/USD.
4. FxPro
Average EUR/USD
0.43 pips (previous day)
Commission per side
US$3.98 (US$35 per US$1 million)
All-in cost, 1 lot round turn
US$12.27
Regulators
CySEC, FCA, SCB + 2 more
Why FxPro Ranks Fourth
FxPro publishes an average EUR/USD spread of 0.43 pips for its cTrader raw account, stated as the previous day's average and updated daily, which is why it takes fourth place ahead of brokers that name no period at all. Its commission runs US$35 per US$1 million traded, per side, costed on one EUR/USD lot of EUR 100,000 at the EUR/USD rate of 1.1379 dated September 25, 2026. That comes to US$3.98 per side and US$7.97 round turn, for an all-in cost of US$12.27 per lot. You pay more here than at any broker above it.
5. IC Markets
Average EUR/USD
0.01 pips (no period stated)
Commission per side
US$3.50 (MT4)
All-in cost, 1 lot round turn
US$7.10
Regulators
ASIC, CySEC, FSA + 2 more
Why IC Markets Ranks Fifth
IC Markets shows 0.01 pips in an AVG column on its Raw Spread page without stating a period, and its own headline claims 0.1 pips, so the real figure could be either. Under our ranking rule that ambiguity costs it position: it sits fifth even though the number looks lowest. Commission is US$3.50 per side, all-in US$7.10 at 0.01 pips or US$8.00 at 0.1. If you trade there, treat 0.1 pips as the safer assumption.
6. Fusion Markets
Average EUR/USD
0.03 pips (our calculation)
Commission per side
US$2.25
All-in cost, 1 lot round turn
US$4.80
Regulators
ASIC, VFSC, FSA Seychelles
Why Fusion Markets Ranks Sixth
Fusion Markets publishes hourly average spreads as a chart rather than a single number. We calculated the unweighted mean of 515 published hourly EUR/USD averages, from August 27 to September 25, 2026, and got 0.0268 pips, shown as 0.03. The period and method of that 0.03 are ours, and Fusion Markets publishes no single average with its own stated period or method, so the ranking rule places it in the second group, where it ranks sixth. Commission is US$2.25 per side and the all-in cost is US$4.80 per lot, the lowest of the ten on both counts, which suits you if total cost matters more than a headline spread.
7. FP Markets
Average EUR/USD
0.1 pips (no method stated)
Commission per side
US$3.00
All-in cost, 1 lot round turn
US$7.00
Regulators
ASIC, FSA Seychelles, FSC Mauritius + 2 more
Why FP Markets Ranks Seventh
FP Markets lists 0.1 pips for its Raw account in an "Avg" column in a table dated September 2026, but its text calls the figures "typical spreads" and states no averaging method. That labelling places it seventh, below brokers that explain how their average was built. Commission is US$3 per side on a US dollar account, all-in US$7.00 per lot, a competitive total if the published 0.1 pips holds in your sessions.
8. GO Markets
Average EUR/USD
0.1 pips (no period stated)
Commission per side
US$2.50
All-in cost, 1 lot round turn
US$6.00
Regulators
ASIC, CySEC, FSC Mauritius
Why GO Markets Ranks Eighth
GO Markets prints 0.1 pips for its GO Plus+ account in a column headed "Average (pips)" with no period given, which puts it eighth. GO Markets holds ASIC, CySEC, and FSC Mauritius licences, and clients outside the regions its ASIC and CySEC entities serve are onboarded through the FSC Mauritius entity, the entity whose US$2.50 commission is quoted, so check which one your agreement names. All-in cost is US$6.00 per lot, among the cheapest totals of the ten. Platforms are MT4 and MT5 outside Australia.
9. RoboForex
Average EUR/USD
0.1 pips (no period stated)
Commission per side
US$2.28 (US$20 per US$1 million)
All-in cost, 1 lot round turn
US$5.55
Regulators
FSC Belize
Why RoboForex Ranks Ninth
RoboForex shows 0.1 pips in an "Avg. spread (pips)" field on its EUR/USD specification card for the ECN account, with no period, placing it ninth. Its commission prints as "20 / mio", US$20 per US$1 million traded. RoboForex's own FAQ, read September 28, 2026, says the commission is charged once for opening and once for closing, and that a EUR lot is converted to US dollars at the exchange rate first. On one EUR/USD lot of EUR 100,000 at the rate of 1.1379 dated September 25, 2026, the "20 / mio" rate works out to US$2.28 per side (US$4.55 round turn), and the all-in cost is US$5.55 per lot. FSC Belize is its only regulator, and the minimum deposit is US$10, which suits small accounts.
10. Tickmill
Average EUR/USD
0.1 pips (labelled typical)
Commission per side
US$3.00
All-in cost, 1 lot round turn
US$7.00
Regulators
FCA, CySEC, FSCA + 2 more
Why Tickmill Ranks Tenth
Tickmill lists 0.1 pips in a "Typical Spread" column rather than calling it an average, with no period stated, so it sits tenth among the 0.1-pip figures. The table's 0.0 minimum points to the Raw account, whose commission is US$3 per side, all-in US$7.00 per lot. If you want a raw account where the arithmetic is straightforward and the cost sits mid-pack, this one fits, but the label gives you less to check than a dated average would.
Standard Account Spreads: Secondary Table
The table below shows advertised average EUR/USD spreads on standard accounts with no commission, drawn from our broker dataset, with sources read on September 3 and 4, 2026, except FP Markets, whose 1.2 pips was re-read on September 28, 2026. Because there is no commission, the spread is the whole cost. Exness is left out under our ruling on its published spreads, and TabTrade and Tickmill because the dataset holds no source page for a standard EUR/USD average. One comparison: Pepperstone Standard at 1.1 pips costs US$11 per lot, against US$8.00 all-in on its Razor account.
| Broker | Account | Advertised average EUR/USD (pips) | Cost per lot, no commission (US$) | Source read |
|---|---|---|---|---|
| Fusion Markets | Classic | 0.83 | 8.30 | September 3, 2026 |
| GO Markets | Standard | 0.9 | 9.00 | September 3, 2026 |
| IC Markets | Standard | 1.0 | 10.00 | September 3, 2026 |
| Pepperstone | Standard | 1.1 | 11.00 | September 3, 2026 |
| FP Markets | Standard | 1.2 | 12.00 | September 28, 2026 |
| RoboForex | Pro-Standard | 1.3 | 13.00 | September 4, 2026 |
| FxPro | Standard | 1.44 | 14.40 | September 3, 2026 |
How We Rank Brokers On This Page
CompareForexBrokers ranks brokers by the average EUR/USD raw spread they publish, lowest first, with brokers that state how and when they measured coming first, uses Myfxbook data for Exness, and converts each into an all-in cost per lot. A dated figure with a method can be checked, while a bare “average” could come from any day or any sample and carries less weight. That is a judgment I stand behind: a number you cannot date is a number you cannot weigh. Ties go to the broker with the higher published rating.
The consequence is that two brokers with lower numbers sit below brokers ranked above them. IC Markets shows 0.01 pips with no period stated, and Fusion Markets publishes only hourly averages, so its 0.03 pips is our calculation rather than an average it publishes with a stated period or method. They rank fifth and sixth. Tickmill sits last at 0.1 pips because it labels the figure “typical” rather than an average.
Why Exness Is Ranked On Myfxbook Data
Exness advertises an average EUR/USD spread of 0.0 pips on its Raw Spread account, stated as the average for the previous trading day. I do not treat that figure as accurate, so we use Myfxbook for Exness instead. Myfxbook showed EUR/USD session averages of 0.26 pips (previous session) and 0.19 pips (last session) for the window September 24, 2026, 06:48 GMT to September 26, 2026, 06:58 GMT. Its figures exclude commission, do not name the Exness account type, and are sampled from over 10,000 real accounts.
What does this mean for you? The real average is higher than the advertised 0.0 pips, so do not plan your costs around that number. At about 0.2 pips the spread adds about US$2 per lot, and with commission of US$2.50 per side the all-in cost is about US$7.00 per lot (US$6.90 at 0.19 pips, US$7.60 at 0.26 pips). Exness commission varies by region, and our broker dataset holds US$3.50 per side, which would put the all-in cost at about US$9.00.
Spread Or Commission: Which Costs You More?
A spread on its own tells you only half the story on a raw account. The all-in cost for one standard lot of EUR/USD, opened and closed, is the average spread in pips multiplied by US$10 per pip, plus two sides of commission. Fusion Markets at 0.03 pips with US$4.50 round turn works out to US$4.80, while TabTrade at the same 0.03 pips with US$7 round turn works out to US$7.30. Identical spread, different bill.
My recommendation is to never pick a raw account on spread alone. Work out your all-in cost first, using our forex pip calculator, and compare the two together. You can also cross-check the commission side on our lowest commission forex brokers page, which ranks brokers on the commission each publishes per side. If you trade large size, the US$2.50 round-turn commission gap between Fusion Markets and TabTrade is worth 0.25 pips of spread.
What A Spread Actually Costs You
On EUR/USD, one pip on a standard lot is US$10, so a 0.03 pip spread costs you US$0.30, a 0.1 pip spread costs US$1, and FxPro’s 0.43 pips costs US$4.30 in spread alone. Over 20 lots a month, the differences add up: at the all-in cost of spread plus commission, Fusion Markets comes to US$96, TabTrade US$146, Pepperstone US$160, and FxPro US$245.40. The standard-account choice matters too. Pepperstone Standard at 1.1 pips costs US$11 per lot, so the same 20 lots run US$220, against US$160 on the Razor account. If you trade a pair other than EUR/USD, you can price one trade on your chosen pair and trade size in our Broker Fee Comparison Calculator.
If you scalp or trade often, those per-lot gaps compound, and Fusion Markets’ US$4.80 all-in is the lowest of the ten. If you trade occasionally, the difference between US$4.80 and US$8 per lot is small, and platform, regulation, and deposit terms should carry more weight in your choice than small differences in the spread.
When Spreads Widen
Raw spreads are variable. They can reach 0.0 pips in quiet moments and widen in volatile or thin markets, such as around news releases and the daily rollover. An average that states its period and includes rollover, as Pepperstone’s August 2026 figure does, is a fairer guide to what you will actually pay than a figure with no stated period, which cannot be dated or checked. When you compare published averages, check whether the broker tells you when and how the number was produced.
The session matters too. Myfxbook’s Exness feed shows GBP/USD averaging 0.01 pips in the New York session against 0.27 in Sydney on the last reading in that window, so the session you trade in can change what you pay. Slippage is separate from the spread and can happen on any account type in volatile or thin markets, so add it to your mental cost model rather than treating the spread as the whole story.
Lowest Spreads By Region
- If you live in Singapore, the Singapore page compares forex brokers regulated by the Monetary Authority of Singapore (MAS) for Singapore residents.
- As a US resident, you trade forex through dealers registered with the Commodity Futures Trading Commission (CFTC) and members of the National Futures Association (NFA), and the United States page compares them.
- Traders in Malaysia will find the lowest spread forex brokers on the Malaysia page, which ranks the brokers and entities that serve Malaysian residents.
- For Canadian residents, the cost section of the Canada page compares brokers from dealers regulated by the Canadian Investment Regulatory Organization (CIRO).
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FAQs
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About the author
Justin Grossbard is the Co-Founder and CEO of CompareForexBrokers, which he established with Noam Korbl in 2014. He has over 20 years of professional experience in online marketing and holds a Master's in Marketing from Monash University.