0 pips spreads are popular with traders that want the lowest possible spread cost. Forex Brokers that offer ECN Pricing as they have no dealing desk. This guide looks at the best zero pip spread forex brokers.
Updated: 28/07/2021
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These are the best brokers with ultra low spreads
Pepperstone was handpicked as the forex broker with the lowest effective spreads across +60 currency pairs. Pepperstone offers spreads starting from 0 pips due to its no-dealing desk (NDD) and straight-through-processing (STP) technology which means the spread quotes are sourced directly from liquidity providers without interference from a market maker.
Choosing Pepperstone means you will be trading with one of the most reputable Forex and CFD providers in the world. This Australian founded online brokerage has impeccable regulatory compliance, as they are authorized and regulated across several continents by 4 tier-one regulators (ASIC, FCA, CySEC, and BaFin) and 4 tier-two regulators (DFSA, CMA, SCB, and FSCA).
Pepperstone’s international clients can take advantage of zero spread trading on the broker’s Razor Account through two powerful trading platforms – MetaTrader 4 and MetaTrader 5. Since Pepperstone utilizes a diverse mix of more than 22 liquidity providers, it is able to offer its clients raw pricing across its entire list of major and minor Forex pairs.
Traders can enjoy minimum spreads of zero pips on all Forex majors (EUR/USD, USD/JPY, GBP/USD, AUD/USD etc.) on the Razor Account. The table below shows average spreads published on their website and is updated at the start of each month. As you can see, Pepperstone spreads consistently compare very well to other brokers.
Data taken from broker website. Accurate as at 01/08/2021
The average spreads (as as 01/06/2021) on Forex minors and on some exotic currency pairs are also competitive:
Pepperstone offers a choice of 3 trading accounts. These are the Standard account, Razor Account (MetaTrader), and Razor Account (cTrader). If you are looking for 0 pip spreads, then don’t consider the standard account as the spread for this account starts from 0.6 pips for EUR/USD.
Forex trading on Pepperstone’s Razor Accounts has commission costs for each lot you trade. The commissions will vary depending on if you are using the MetaTrader 4, MetaTrader 5 or cTrader trading platform and your base currency.
MetaTrader 4 Razor account: $7.53 round turn, per 1 Standard Lot on a USD-denominated account. If your nominated currency is AUD then you will pay $7.00 in commission.
MetaTrader 5 Razor Account: $7.00 per standard lot on USD or AUD denominated account.
cTrader Razor Account: Pepperstone’s commissions on a cTrader Account equals 0.0035% of the base currency you are using. For example, trading 1 Standard Lot in EUR/USD will be associated with a EUR 3.50 charge to open the position and another EUR 3.50 charge to close out the position
If you are looking to save on even more costs then Pepperstone’s Active Trader program allows high-volume traders to benefit from commission discounts or rebates. How much you save will depend on how many standard lots clients trade on a monthly basis, or the more they trade, the higher the commission discount.
Since Pepperstone utilizes cutting-edge ECN technology, it is able to ensure lightning-fast execution of trade orders. The brokerage has disclosed that the majority of orders by Australian customers are filled in less than 30 ms, while most orders by UK clients – in less than 60 ms. Such execution speeds coupled with raw pricing would be greatly appreciated by scalpers and clients who employ automated trading strategies.
Overall, Pepperstone offers competitive pricing and the ultimate package solution for zero spread accounts. With Pepperstone, there will be no fees charged on deposits and withdrawals, regardless of the payment method used. Click the button below and claim your live trading account today.
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The overall rating is based on review by our experts
With a minimum deposit of USD 100, the FP Markets zero spread account is an ultra-low-cost trading solution for scalpers and traders who want to reduce the trading costs. FP Markets is a globally recognized broker with over 40 industry awards and over 16 years of trading experience as one of the best ECN forex brokers.
The Sydney-based brokerage is authorized and regulated in Australia by the ASIC and in the European Union by the Cyprus-based CySEC. Its global operations are managed by FP Markets LLC, an entity registered in St. Vincent and the Grenadines.
On the broker’s Raw Account, the minimum spreads on major currency pairs such as EUR/USD, GBP/USD, USD/JPY, USD/CHF, and AUD/USD start from 0.0 pips and remain ultra-tight during most liquid times.
What is even more, the average spread offered on EUR/USD is around 0.1 pips. While this may change slightly each month, it is one of the lowest among the best Forex brokers globally.
In exchange for ECN trading conditions, FP Markets will charge a small commission of US$6.0 per round turn per 1 Standard Lot for Forex pairs and Spot Metals traded on its MetaTrader 4 Raw Account.
Let us also not forget to mention that FP Markets will not charge any fees on deposits. However, there will be a withdrawal fee associated with some of the funding options.
Similar to industry leaders Pepperstone and IC Markets, FP Markets has ensured a pricing model based on Electronic Communications Network (ECN) technology, which allows international clients to enjoy deep, institutional-grade liquidity, the highest level of price transparency, the lowest spreads possible as well as exceptional order execution with minimal slippage.
FP Markets’ clients are able to trade Forex and CFDs with no dealing desk intervention and no requotes by using a range of trading platforms, including MetaTrader 4 and MetaTrader 5.
FP Markets’ MetaTrader 4 software delivers outstanding order execution speeds. Since the broker’s MT4 server is located at the Equinix NY4 data centre, clients can enjoy ultra-low latency and order execution speed of 37 ms. We should also note that FP Markets received the top award for Quality of Trade Execution 2019 by Investment Trends.
FP Market’s raw spreads are streamed directly from a wide network of liquidity providers (12 LPs) that include Barclays, Citibank, Goldman Sachs, Credit Suisse, HSBC, etc.
Raw pricing combined with reliable order execution constitutes the perfect conditions for traders who employ scalping strategies as well as for high-frequency traders. Click the button below and start trading with a free demo account today!
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With more than a decade of business experience, ThinkMarkets is another global brokerage offering spreads of as low as zero pips coupled with ECN execution. ThinkMarkets’ ECN account (ThinkZero) features ultra-low spreads starting from 0.0 pips, lightning-fast order execution, private insurance protection, the next-generation MT5 platform, and over 40 currency pairs.
ThinkMarkets is authorized and regulated in several jurisdictions, including:
The broker’s international operations are handled by TF Global Markets Int Limited, an entity registered and regulated by the Financial Services Authority (FSA) of Seychelles.
ThinkMarkets offers several account types, including a Standard Account and ThinkZero account through which international clients can access global markets.
Like with other brokers, if you are after 0 pips spreads, then consider ThinkZero, not the standard account.
ThinkMarkets’ ThinkZero trading account grants access to ECN pricing on two platforms – MetaTrader 4 and MetaTrader 5. To open an account and being trading you will need a minimum deposit of $500.
Since the brokerage has expanded its pool of liquidity providers, it is able to offer lower spreads on Forex pairs and Metals. Clients can now access zero pip spreads on currency pairs such as EUR/USD and USD/JPY, while the average Forex spread is around 0.1 pips. The typical spreads offered on the most popular Forex pairs are presented in the table below.
Meanwhile, the min spread offered on Metals is $0.06 on this ECN account and the min spread on CFDs is 0.9 points.
ThinkMarkets will charge a small commission of $7.0 per round turn per 1 Standard Lot for trading Forex pairs and Metals on its ThinkZero account, while CFD trading is commission-free.
Since the broker’s MetaTrader servers are located in the London LD5 data centre and in the Equinix data centre in Hong Kong, its clients can take advantage of market volatility at the fastest execution speeds available worldwide.
Risk warning: CFD trading on margin carries a high risk of rapid losses, particularly because high leverage ratios are used.
Click the button below and start enjoying one of the low spread forex brokers in the industry.
View ThinkMarkets Review >>Visit ThinkMarkets >>
Fusion Markets’ zero spread account combined with an additional small commission of $2.25 added per trade is a winning combination. Founded in 2017, Fusion Markets is a trading name of Australia-based Gleneagle Asset Management Limited, an entity that complies with regulatory standards of the Australian Securities and Investments Commission (ASIC).
Additionally, the broker’s international operations are handled by Gleneagle Securities Pty Limited, an entity registered in Vanuatu and regulated by the FSC.
With Fusion Markets, international clients can enjoy some of the lowest trading costs on Forex trading among regulated brokers in Australia. According to the brokerage company, citing a sample of 30 Global FX/CFD brokers for spreads and commissions conducted in February 2021, its commissions are, on average, 36% lower compared to those of its competitors.
Clients with trading experience can take advantage of an industry-leading commission of $4.50 per round turn per 1 Standard Lot and tight spreads with no mark-up (starting from 0.0 pips) on Forex pairs, Spot Metals and Commodities on Fusion Markets’ ZERO Account. The average spread offered on major currency pairs tends to be quite competitive as well:
Depending on the base account currency selected, the Australian brokerage will charge the following commissions for Forex and Metals trading on its MetaTrader 4 software:
When it comes to the broker’s liquidity mix, it claims that it uses “top tier relationships” and strives “to offer the best available bid and ask price” for clients. The company also claims that it does not operate a dealing desk and offers market execution on its MetaTrader 4 platform. This allows clients to trade with no requotes.
Along with tight spreads and competitive commissions, we should also note that Fusion Markets does not have a minimum deposit requirement and does not charge any fees on deposits and withdrawals via credit cards, debit cards and e-wallets.
Since Fusion Markets employs cutting-edge ECN technology, it is able to ensure lightning-fast execution of trade orders for all asset classes. International clients can take advantage of execution speeds of 0.02ms on the broker’s MetaTrader 4 platform, a capability that will be particularly appreciated by scalpers.
Last but not least, Fusion Markets allows its international clients to open a demo account, which may have the features of either a ZERO or a Classic Account. Another option for clients is to open multiple demo accounts to test low spread Forex trading – one functioning as a ZERO and one functioning as a Classic Account.
View Fusion Markets Review >>Visit Fusion Markets >>
IC Markets is the best solution for trading on the forex market using the MetaTrader 4. Founded in 2007, Australia-based IC Markets is one of the largest Forex brokers by trading volume worldwide, which grants its clients access to deep interbank liquidity and low latency connectivity via a range of powerful trading platforms (MetaTrader 4, MetaTrader 5 and cTrader). IC Markets is authorized and regulated by:
The broker’s international operations are handled by Raw Trading Ltd, a company registered in Seychelles and regulated by the Financial Services Authority of Seychelles (FSA).
IC Markets’ MT4 Raw Spread Account enables international clients to access institutional-grade pricing, aggregated from the broker’s pool of 25 top-tier liquidity providers. Your spreads will be variable not fixed spreads and have fast order execution with no dealing desk intervention and no requotes. These conditions make this account type the perfect solution for high-volume trading, scalping and automated trading.
By depositing as little as $200, clients can take advantage of the lowest Forex spreads possible, starting from zero pips, and some of the best averages spreads that are kept razor-thin 24/5. The average spreads available on major, minor and exotic currency pairs, accessed through IC Markets’ MT4 Raw Spread Account, are presented below:
Latency of less than 1 ms to major VPS providers and average order execution speed of 36.5 ms, since the broker’s MetaTrader 4 server is located in the Equinix NY4 data centre. This way, the risk of slippage is minimized. By comparison, Pepperstone and FP Markets are faster which minimizes pricing lag.
Other key advantages, which IC Markets’ MT4 Raw Spread Account brings, include:
Bottom line is that if you want to enjoy zero spread environments on the MetaTrader 4 you can choose IC Markets. Equally good or better are Pepperstone, FP Markets, FXTM, or Markets.com.
GO Markets is a top choice that combines zero pip spreads with very competitive commission-based pricing of $3.0 per standard lot. Founded in 2006 in Australia, GO Markets is a Forex and CFD provider authorized and regulated by Cyprus-based CySEC and Australia’s ASIC.
It is another company that now belongs to the group of low spread Forex brokers, as its clients can open an ECN account (GO Plus+) to access global markets and take advantage of low trading costs.
GO Markets’ GO Plus+ account grants access to no dealing desk Forex and CFD trading on the MT4 trading platform. It is a commission-based account type suitable for high-volume traders and those who employ EA trading strategies. Clients can trade with raw spreads, starting from 0.0 pips, while paying a low commission (A$6.00 per round turn, per 1 Standard Lot).
The minimum deposit required is A$200 (or currency equivalent). The average spreads offered on major and minor currency pairs tend to be quite competitive as well:
Go Markets aggregate spreads from over 22 Tier 1 and 2 liquidity providers (LPs) across +50 currency pairs. The advantage of aggregating different forex quote sources is that it leads to lower spreads, deeper liquidity and overall a better trading experience with less slippage and requotes.
Go Markets charges commission rates in multiple currencies depending on the account base currency. While the standard commission rate is A$3.0 per side for 1 standard lot the commission rate is also expressed in 8 different currencies (see table below).
Like other MT4 brokers with low spreads, Go Markets offers a risk-free environment through a demo account where you can test their low spreads. Click on the button below to create your demo account.
View Go Markets Review >>Visit GO Markets >>
For traders that prefer the MetaTrader 5 (MT5) platform, Admiral Markets offer competitive pricing on their MT5 zero spread account. Established in 2001, Admiral Markets is a CFD and Forex brokerage with a global presence (especially in Europe), authorized and regulated in several jurisdictions, including:
With this online broker, international clients can trade Forex and CFDs with zero pip spreads on its MetaTrader 5 trading platform, by opening a Zero.MT5 trading account. This account type grants clients access to 45 Forex pairs, 3 Metal CFDs, 10 Cash Index CFDs and 3 Energy CFDs, while the minimum deposit required is $100 (or currency equivalent).
Major currency pairs such as EUR/USD and USD/JPY can be traded with a min. spread of 0.0 pips on this zero spread account, while the typical spreads are also quite competitive compared to other leading Forex brokers (0.01 pips on USD/JPY and 0.00008 pips on EUR/USD).
Clients can take advantage of market execution with no requotes, but they will have to pay a certain trading commission, which depends on the asset class and trading volume. Admiral Markets will charge the following commissions on its Zero.MT5 account:
High-volume traders will be charged lower commission rates per month, as can be seen from the table below. These commissions are valid for both the Zero.MT4 and the Zero.MT5 account types.
International clients will have a much richer choice of financial instruments (over 3,700 CFDs and Forex pairs), if they opt for the broker’s Standard MetaTrader 5 Account (Trade.MT5). However, they will have to pay wider spreads, starting from 0.5 pips, and fixed commission rates on Shares CFDs and ETF CFDs ($0.02 per US Share or US ETF). At the same time, commission rates on CFDs on European Shares are 0.15% of trade value.
No commissions will be charged on Admiral Markets’ Trade.MT5 account for trading Foreign Exchange as well as for CFDs on Metals, Energies, Agricultural Commodities, Stock Indices and Bonds.
We should also note that both the zero MT5 and Trade.MT5 retail accounts will not have to repay a negative balance (resulting from abrupt market movement) due to Admiral Markets’ negative balance protection policy.
Click the button below to read Admiral Markets full review.
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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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