Lowest Spread Forex Brokers In 2022

The Lowest Spread No Commission Account Is Pepperstone

Pepperstone offers the best no-commission trading account based on the:

• The lowest non-commission spreads in August 2022
• Choice of the most popular forex trading platforms (MT4, MT5, cTrader)
• The wide range of instruments from forex, CFDs to cryptocurrencies
• Top execution speeds and trading conditions across forex/CFDs
• An award-winning customer service offering that is 24/5

Pepperstone was also awarded the best forex broker Australia award based on the same criteria above. Choosing the Pepperstone Standard account means you can have spreads as low as 0.6 pips for the EUR/USD currency pair without added commission trading fees.

Standard Account Spread Comparison

The table below is updated every month based on the published average spreads by regulated forex brokers offering non-commission accounts (standard accounts). The most traded currency pairs are compared as this is the best benchmark of brokerage costs.

Standard Account Spreads	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD USD/SGD
	0.77	0.84	1.40	1.19	0.86
	1.13	1.01	1.71	1.66	1.12
	0.70	1.30	1.30	2.20	1.40
	0.80	0.90	1.70	1.80	0.80
	1.10	1.20	1.20	1.80	1.50
	1.20	1.40	1.70	1.60	1.40
	1.10	1.20	1.40	1.50	1.20
	1.30	1.50	1.70	2.20	1.40
	1.20	1.20	1.40	1.40	1.20
	1.20	1.20	1.40	1.40	1.40
	1.30	1.50	1.70	2.10	1.90
	1.30	1.70	2.10	1.40	1.50
	1.20	1.40	1.40	1.50	1.20
	1.24	1.76	1.24	1.47	1.34
	1.40	1.20	1.90	1.90	1.60
	1.70	1.80	2.00	2.20	1.60

Data taken from broker website. Accurate as at 01/08/2022

Pepperstone was found to have the best spreads in August 2022 based on the spread comparison above with other brokers such as IC markets and IG having higher brokerage. Pepperstone was also competitive in the ECN account spread comparison and has an active trader account discount for high volume traders.

View Pepperstone Review >>Visit Pepperstone >>

Deep Dive Into The Pepperstone Account Options

There are two types of accounts available with Pepperstone. These are the Standard Account and the Razor account. Pepperstone is unique in the Forex broking industry as they are one of the few to offer competitive spreads for standard accounts and ECN pricing accounts.

As demonstrated above, Pepperstone spreads for the standard accounts are ultra-competitive with EUR/USD spreads starting from 0.6 pips. Choose this account if you are new to trading, only trade occasionally, or just don’t want to pay commissions. If you wish to trade frequently or just want to have the lowest spreads possible then select the Razor account.

Regardless of which account you select, you will have access to Pepperstone’s entire range of derivative products, including forex, stocks, indices and commodities. However, if you wish to trade shares then make sure you pick the MetaTrader 5 trading platform.

Pepperstone Execution Speeds

Pepperstone has the lowest self-reported execution speeds with most orders executed by Pepperstone Group Limited of 30 milliseconds. This is the time taken to process an order once it’s received by the broker. To verify this speed, a comparison using broker demo accounts resulted in Pepperstone having the fastest Market Order Execution Speed of any broker.

More Information About Pepperstone

Pepperstone offers the choice of the three most popular forex trading platforms. They are MetaTrader 4, MetaTrader 5 and cTrader. If you have a cTrader Razor account, then Pepperstone also provides you with their latest charting tool platform, TradingView. The broker has the most awards based on their customer service including accolades by Investment Trends overall several years based on actual traders rating different brokers.

Pepperstone regulatory bodies include:

• Tier 1 – ASIC (Australia), FCA (The UK), BaFin (Germany)
• Tier 2 – CySEC (Europe), DFSA (Dubai)
• Tier 3 – CMA (Kenya)
• Tier 4 – SCB (The Bahamas)

Pepperstone Standard Account Verdict

If you’re choosing a no-commission account and looking to minimise your brokerage then Pepperstone is the clear winner. Their spreads are the lowest on most of the most traded currency pairs and they don’t charge deposit or withdrawal fees. The Pepperstone minimal deposit requirement is $200 and traders can choose from the three most popular forex trading platforms. With award-winning customer service and a superior trading environment, their standard account is the clear winner when it comes to no commission trading accounts.

View Pepperstone Review >>Visit Pepperstone >>

AvaTrade Is The lowest Fixed Spread Forex Broker

AvaTrade offers superior fixed spread trading based on their:

• Lowest fixed spread based on our August 2022 analysis
• Risk management features including AvaProtect
• Easy to use forex trading platform that is ideal for beginners
• Tier 1 regulation from ASIC to CySEC

Fixed spreads are designed for traders that want spreads that remain the same regardless of prevailing market conditions at any given time. Spreads that remain stable allow for betting planning for your trading strategy as you will know exactly what they will pay to open and close a position.

Fixed Spread Account Comparison

The most recent fixed spread comparison based on the published data on each regulated broker website showed that AvaTrade had the lowest fixed spreads. It should be noted that no commissions are charged by AvaTrade so the fixed rates shown below are the primary fees charged by the broker.

Fixed Spreads	EUR/USD AUD/USD EUR/GBP EUR/JPY GBP/USD AUD/JPY USD/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP EUR/JPY GBP/USD AUD/JPY USD/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP EUR/JPY GBP/USD AUD/JPY USD/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP EUR/JPY GBP/USD AUD/JPY USD/JPY USD/CAD USD/SGD	EUR/USD AUD/USD EUR/GBP EUR/JPY GBP/USD AUD/JPY USD/JPY USD/CAD USD/SGD
	0.90	1.10	1.50	1.80	1.50
	0.70	1.20	2.00	1.50	1.80
	1.66	2.43	1.97	2.12	2.04
	1.60	1.90	1.70	2.40	2.10
	1.50	1.80	2.00	2.00	2.00
	3.00	3.00	3.00	3.00	3.00
	4.00	4.00	3.00	5.00	5.00
	3.00	4.00	4.00	6.00	4.00

Data taken from broker website. Accurate as at 01/08/2022

The only other fees AvaTrade charges are:

1. Inactivity fee (after 3 months)
2. Overnight interest fee (long longer-term positions)

AvaTrade is the largest fixed spread broker worldwide with over 200,000 traders. They are regulated in eight regions including CySEC in Europe, ASIC in Australia and FSCA in South Africa.

The minimum deposit with AvaTrade is $100 when opening a live account with direct debit (wire transfer) and debit/credit card funding options.

AvaTrade Advanced Risk Management Tools

Most fixed-rate brokers also have advanced risk management features such as guaranteed stop-loss. Standard risk management features that AvaTrade includes a range from minimum balance protection to guaranteed stop-loss on trades. These can be compared on our fixed spread account page.

An additional feature unique to AvaTrade is AvaProtect. This allows a trader to select a specific duration from 6 hours up to two days. If a trader’s position leads them to lose money then they can exit the trade without making a loss on the position. The only loss will be the AvaProtect fee which is displayed when activated the feature and is charged whether the protection is needed or not once activated.

AvaTrade Fixed Spread Account Verdict

Fixed spread brokers are recommended for brokers looking to manage risk when trading. AvaTrade is the best broker in this category based on the lowest published fixed spreads in August 2022, choice of MT4 MT5, or AvaTradeGO forex trading platform and their advanced risk management tools. Traders who want to know their exact trading costs or looking to closely manage their risk should choose the broker.

View AvaTrade Review >>Visit AvaTrade >>

Fusion Markets Is The Lowest Commission Forex Broker

Fusion Markets offers the best low commission account based on their:

• August 2022 commission levels (compared to other brokers)
• Low spreads and no-fee deposit and withdrawal facilities
• MT4 trading platforms (most popular for forex trading)
• $0 minimum deposit requirement

The commission charge for ECN brokers is set on the base currency chosen. These are based per side (100k traded) and if calculating per round-turn lot, the amounts below should be doubled. You view more on our lowest commission forex broker section comparing Raw (ECN) accounts in June 2022.

As the graph shows, Fusion Markets is the best broker when it comes to low commissions. They are advertised as the lowest ASIC (Australia) regulated forex broker, focusing primarily on the MetaTrader 4 (MT4) forex trading platform. In addition to the low commissions, there are also no fees on deposits or commissions.

The lowest minimum deposit is $0 for opening an online trading account with Fusion Markets. Deposits can be made fee-free via Skrill, Neteller, Visa or MasterCard.

Final Verdict On Fusion Markets

With brokerage determined primarily based on the spread charged on a currency pair and a commission, Fusion Markets often comes out as having the lowest fees overall. Their commissions are always the lowest but are primarily based on the based currency so for example the AUD is $4.50 but so is the USD. Based on this, savvy traders will select the AUD which results in the lowest brokerage overall after their competitive spreads are accounted for.

Fusion Markets Review >>Visit Fusion Markets >>

The Best Low Spread Broker With High Leverage Is FXTM

ForexTime (FXTM) is a global broker best known for the high leverage available. Leverage will depend on the FXTM trading account and the country you trade from.

FXTM Clients outside the UK and Europe

• Micro Account: Forex 1:3 to 1:1000 (fixed), Metals 1:500
• Advantage Account: 1:2000 (floating)
• Advantage Plus Account: 1:2000 (floating)

The Advantage and Advantage Plus user floating or tiered leverage. This means the more you trade, the lower the leverage you can trade with.  Trades under $50,000 USD can access leverage of 1:2000 (0.05% margin) while trades between $50,000 and $200,000 allow leverage up to 1:1000 (0.1% margin).

Leverage puts your capital at risk, especially when market volatility is experienced. Losses can exceed your deposit. Account types with high leverage should only be chosen by forex traders that understand the risk. In this respect, it is good that FXTM limits the available leverage for large trades.

FXTM Clients In The UK And Europe

Leverage for clients in the UK and Europe is more limited due to FCA and CySEC regulations.

Regardless if you select a Micro, Advantage, or Advantage Plus account the maximum leverage is 1:30 for major currency pairs and 20:1 for minor and exotic currency pairs.

FXTM Accounts

With FXTM you can choose from 3 different accounts.

The first account is their Micro account. Select this account if you want to start trading with FXTM’s lowest minimum deposit ($50).  Trading with this account has instant execution which means you will have the chance to confirm or reject requotes. The main limitation of this account is that Forex and Metals

The next set of FXTM accounts are ECN broker style with a spread and commission combination. This is the choice of more experienced traders of those using scalping. There are three main sets of accounts with the main two ECN accounts offering leverage up to 2000:1 while the Pro account has up to 200:1. The Advantage Plus account is more designed for institutional traders with a high minimum deposit of $25k.

Key factors about the FXTM  include:

• Regulation with FCA, CySEC, FSC, and licensed by FSCA
• MetaTrader 4 and 5 Trading Platforms
• Education Library to build your trading experience

View FXTM Review>>

IG Offers Low Brokerage For Beginner Traders

The reason we recommend IG as a low spread broker for beginners is for 2 reasons

1. IG has Standard forex accounts (OTC accounts)
2. IG has risk management tools

Beginner forex brokers often prefer a standard forex account as it’s easier to calculate the profit/losses of trades, and the fees are built into the prices. This allows traders to focus on improving their trading without the commission costs as a distraction. As IG is a Market Maker, they specialise in standard account types since they are your counter-party when trading which means they don’t need to pay liquidity providers for trading fees.

IG Markets standard accounts alone aren’t anything special for beginner traders, but combined with their risk management tools, IG Markets have a point of difference to most brokers. IG offers the following risk management tools that only some brokers offer.

1. Guaranteed Stops – A type of stop-loss that guarantees your order to open or close a trade will be delivered at that your set price
2. Limited Risk Account – An account that forces all positions to have a guaranteed stop and prevents trading in high-risk markets
3. Balance Snapshots – Profit and loss records are always visible which allows you to act quickly when the markets move against you.

To make the most of these risk management tools, make sure you choose one of IG Markets custom-built trading platforms. It is on these platforms that you will find most of the IG risk management tools available.

Key factors about the IG standard account include:

• Worldwide regulation including ASIC, FCA, FSCA, IFSC, NFA, CFTC
• A range of financial instruments and in some locations financial services such as stockbroking
• A range of forex platforms available on mobile, webtrader and desktop devices
• Risk management tools for various online trading conditions

Note: IG is one of the few forex brokers that accept US clients. IG Markets US is the best choice for trading spot forex in the US with a standard account.

View Full IG Review >>

ThinkMarkets Has Tight Spreads For Scalpers

There are different types of short-term traders and these include:

• Day traders – a trader that uses intraday strategies to profit off changes in prices through the day
• High-frequency traders – traders that use powerful computers to transact a high volume of orders in fractions of a second
• Scalpers – a trader executes multiple trades to take advantage of small but regular movements in price

Regardless of which type of short-term trader you are, all forms rely on the tightest possible spreads as each trade you open or close incurs a cost. For this reason, it is essential to choose a broker with ECN-style pricing and fast execution.

ThinkMarkets Has ECN Pricing

Brokers that offer ECN pricing and have no dealing desk connect you directly with a pool of liquidity providers for the best possible quotes.

ThinkMarkets minimum spreads for most currency pairs on their Standard account start from 0.4 pips which is the most competitive spread for a no-commissions account you can find.

In a similar vein, spreads on ThinkMarkets ThinkZero account 0 pips and have commission costs from $3.50 per side (100,000).

ThinkMarkets Uses The Best Technology For Fast Execution

Every nanosecond counts for frequency traders otherwise there is a real risk of slippage. For this reason ThinkMarkets hosts servers in the same data centre or near the same data centres that the major liquidity providers, exchanges, buy-side, and sell-side firms host their servers.

ThinkMarkets has partnered with Equinix in New York, London, and Hong Kong so that no matter where in the world you are trading from and which market you want to trade, ThinkMarkets are positioned to give you the fastest trading possible.

Key factors about the ThinkMarkets standard account include:

• Regulated by ASIC, FCA, FSCA
• Offers CFD such as Forex, Shares, Metals, Cryptocurrencies
• Investment With Shares and ETFs available
• MetaTrader 4, 5 and ThinkTrader Trading Platforms

View ThinkMarkets Review >>Visit ThinkMarkets >>

*Your capital is at risk ‘71.89% of retail CFD accounts lose money’

FXPro Offers No Requotes On Selected Forex Pairs

FxPro is a no dealing desk forex broker adopting straight-through technology (STP) to execute trades. In 2020, this lead to no requotes on 99.32% of trades. It also leads to fast execution speeds with most orders filed in 11.06 milliseconds.

FxPro offers fixed spreads on limited forex pairs and floating spreads on the forex trading platforms MT4, MT5 and cTrader. Floating spreads will vary by market conditions and for major currency pairs such as the EUR/USD to AUD/JPY can be 0 spreads at times.

View Full FxPro Review >>

*Your capital is at risk ‘84.72% of retail CFD accounts lose money’

eToro Is The Best Copy Trading Low Fee Broker

Those looking for social trading features should consider eToro which is built around its copy trading capability. It has one of the largest communities of retail traders that can be reviewed and copied. This means that once you select a trader, you will automatically make the same trades as that individual.

eToro has 0% commission stocks allowing retail traders to buy shares across the world from Australia and Japan to the USA with no commissions charged. Like the best forex brokers, they also offer low spreads (spreads = ask/bid price) but have some unique fees such as a withdrawal fee. This can make them more expensive than other brokers, especially when market volatility is experienced.

The broker was also listed as one of the best Australian automated trading platforms based on this copy trading ability. Traders can adopt automation in many ways rather than just copy trading including utilising bots and other software.

eToro Regulation

eToro is regulated in the UK by the FCA and ASIC in Australia, while in the rest of Europe they have CySEC regulation. If you are looking for a social trading (copy trading) specialist CFD broker, eToro is your best low-fee option. That said, there are lower spread and commission brokers such as Pepperstone that offer this type of trading but not as their core offering.

*Your capital is at risk ‘68% of retail CFD accounts lose money’

HotForex Is The FSCA Best Forex Broker

The best forex brokers for South African traders are locally regulated by the Financial Services Conduct Authority (FSCA). The broker officially is named HF Markets SA (PTY) Ltd with the Financial Service Provider (FSP) licence number 46632. Key reasons HotForex are recommended is their size and reputation with the broker operating for over a decade with over 2 million forex accounts opened.

The forex provider offers high leverage levels of 1000:1 and the choice of MetaTrader 4 or MetaTrader 5 forex trading platforms. Other key features of HotForex are low spreads (from 0.1 for EUR/USD), a range of account types and a range of online trading tools.

South African forex traders should consider the FSCA regulated broker that balances a local presence, leverage and trading costs.

Key factors about the HotForex include:

• Regulation with FCA, DFSA, FSCA, FSA
• MetaTrader 4 and 5 Trading Platforms
• Stocks and ETF DMA
• Forex Education Library

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