Which forex broker has the lowest advertised average spread?
Exness has the lowest advertised average on this page, at 0.0 pips on its Raw Spread account, an average for the previous trading day, 25 September 2026. At that figure, the all-in cost of one standard lot of EUR/USD is US$5.00, which is also the lowest advertised all-in cost here. One caveat: each broker measures its own average over its own period and with its own method, so the figures are not like for like.
Ordered by the broker’s own published average raw EUR/USD spread (advertised), lowest first.
- Exness - Advertised Average 0.0 Pips, Previous Trading Day
- TabTrade - Advertised Average 0.03 Pips, April 2026
- Pepperstone - Advertised Average 0.1 Pips, August 2026
Advertised average EUR/USD spreads, retrieved 27 September 2026
| Rank | Broker | Score | Account | Advertised average EUR/USD (pips) | Period and method, as the broker states it | Commission per side (US$) | All-in cost, 1 lot round turn (US$) | Source, retrieved | Visit |
|---|---|---|---|---|---|---|---|---|---|
| 1 |  Exness | 80 | Raw Spread | 0.0 | Average for the previous trading day (25 September 2026), shown rounded to one decimal place | 2.50 (as shown to a South African visitor; varies by region) | 5.00 | exness.com, 27 September 2026 | Visit |
| 2 |  TabTrade | 81.5 | Edge | 0.03 | April 2026 average measured by Datalyst (a third party) from tick data, compiled 4 May 2026, published on TabTrade’s own page | 3.50 | 7.30 | tabtrade.com, 27 September 2026 | Visit |
| 3 |  Pepperstone | 93.5 | Razor | 0.1 | Average over 1-31 August 2026, all trading sessions including rollover | 3.50 (from) | 8.00 | pepperstone.com, 27 September 2026 | Visit |
Every figure in this table is the broker's own advertised average, retrieved from its website on 27 September 2026. Each broker sets its own measurement period and method, so the figures are not directly comparable. The all-in column is the advertised average multiplied by US$10 per pip, plus two sides of commission, for one standard lot.
Broker reviews
1. Exness
Advertised average EUR/USD
0.0 pips (25 September 2026)
Commission per side
US$2.50
All-in cost, 1 lot round turn
US$5.00
Why Exness Is On This List
Exness bases its figure on a single trading day, so it changes every day and shows the average for 25 September 2026, rounded to one decimal place. That "0.0" means the day's average was below 0.05 pips. Its commission is US$2.50 per side as shown to a South African visitor, but Exness charges different commissions by region, and at US$3.50 per side your all-in cost would be US$7.00. If you trade actively and watch the all-in cost, this account suits you.
2. TabTrade
Advertised average EUR/USD
0.03 pips (April 2026)
Commission per side
US$3.50
All-in cost, 1 lot round turn
US$7.30
Why TabTrade Is On This List
TabTrade's Edge figure of 0.03 pips was measured by a third party, Datalyst, from April 2026 tick data compiled on 4 May 2026, so it is the oldest figure on this page. Commission is US$3.50 per side, US$7.00 round turn. You should also weigh the structure: TabTrade assigns you to either TabTrade (Mauritius) Ltd, licensed by the Financial Services Commission Mauritius on 2 July 2026 under licence GB26206419, or TabTrade Ltd, a Saint Lucia company for which no financial licence is named. Neither company offers negative balance protection, and clients under the Mauritius terms have no statutory compensation arrangement. TabTrade also says it acts as counterparty on some client flow.
3. Pepperstone
Advertised average EUR/USD
0.1 pips (August 2026)
Commission per side
US$3.50
All-in cost, 1 lot round turn
US$8.00
Why Pepperstone Is On This List
Pepperstone's Razor average of 0.1 pips comes from a full calendar month, 1 to 31 August 2026, covering all trading sessions including rollover. A month is a sturdier basis than a single day, because it absorbs the quiet and volatile periods rather than catching one day at its best or worst. Commission is from US$3.50 per side, US$7.00 round turn, so your all-in cost at the advertised average is US$8.00.
How We Chose And Ordered These Brokers
A broker is ranked here only if it publishes an average raw EUR/USD spread on its own website with a stated period. Brokers that publish only a minimum, such as “from 0.0 pips”, sit in a separate unranked list, because a minimum tells you the floor, not the typical cost. Figures from third-party sites or figures a broker sent by email do not qualify either. We retrieved every figure on 27 September 2026, and each broker sets its own period and method, so no two advertised averages are a like-for-like comparison. The all-in cost is the advertised average in pips multiplied by US$10, plus two sides of commission, for one standard lot.
In my view an advertised average beats a “from” figure when you are choosing an account, because you trade on typical conditions, not on the best tick the broker ever printed.
Minimum Advertised Spreads (Not Ranked)
A minimum is the lowest spread a broker says its raw account reaches, not what you should expect on a typical trade. These brokers publish only a minimum for EUR/USD, so they cannot be ranked against brokers that publish an average. A few others publish something close to an average but miss the rule, and the reason column says exactly what each one publishes and why it sits here.
Listed alphabetically, not ranked.
| Broker | Account | Minimum advertised EUR/USD (pips) | Why it is not ranked | Commission per side (US$) | Source, retrieved |
|---|---|---|---|---|---|
| CMC Markets | FX Active | 0.0 | Minimum only | 2.50 per US$100,000 traded | cmcmarkets.com, 27 September 2026 |
| Eightcap | Raw | 0.0 | Minimum only | 3.50 (US$7 per lot, side not labelled) | eightcap.com, 27 September 2026 |
| FOREX.com | RAW | 0.0 | “As low as” is the previous month’s minimum | 5.00 per US$100,000 traded, each side | forex.com, 27 September 2026 |
| FP Markets | Raw | 0.0 | “Avg” 0.1, dated September 2026, but the page text calls it “typical” | 3.00 | fpmarkets.com, 27 September 2026 |
| Fusion Markets | Zero | 0.0 | Hourly averages for the past month as a chart; no single average | 2.25 | fusionmarkets.com, 27 September 2026 |
| GO Markets | GO Plus+ | 0.0 | “Average” 0.1, no period stated | 2.50 | gomarkets.com, 27 September 2026 |
| IC Markets | Raw Spread | 0.0 | Average table’s EUR/USD row contradicts itself; no figure used | 3.50 | icmarkets.com, 27 September 2026 |
| OANDA | Core pricing | 0.1 | Minimum only (“spreads from”) | Not stated on the global page | oanda.com, 27 September 2026 |
| TMGM | EDGE | 0.0 | Minimum only | 3.50 | tmgm.com, 27 September 2026 |
Which brokers offer zero-spread accounts?
Exness, TabTrade, Pepperstone, Eightcap, CMC Markets, FOREX.com, TMGM, FP Markets, GO Markets, Fusion Markets and IC Markets all advertise a raw EUR/USD minimum of 0.0 pips on their own sites. A zero-spread account, which brokers call a raw, zero, ECN or razor account, passes on the interbank spread with no markup and charges a commission per lot instead. The spread is variable, so “from 0.0 pips” is the lowest it reaches, not what every trade gets, and it widens in volatile or thin markets such as news releases and the daily rollover. Slippage can still happen on a zero-spread account. The tightest spreads are usually on the most traded majors such as EUR/USD, USD/JPY, GBP/USD and AUD/USD.
If you scalp or trade often, the raw spread account is the one I would point you to, because you pay the all-in cost on every trade and it adds up quickly at that frequency, so a lower all-in cost per lot saves you more the more you trade. If you trade only occasionally, a standard account, with no commission and a wider spread, may suit you better.
Spread Or Commission: Which Costs You More?
The spread is only part of the cost of a raw account, and commission is the other part. To compare brokers on all-in cost, take the advertised average in pips, multiply it by US$10 per pip for one standard lot of EUR/USD, and add both sides of the commission. Exness works out to 0.0 pips plus US$5.00 round turn, which is US$5.00. Pepperstone works out to 0.1 pips plus US$7.00 round turn, which is US$8.00. To convert a spread in pips into a dollar cost for your own trade size or currency pair, I suggest you use our pip calculator.
That is why I would never choose a raw account on the spread alone. You can compare brokers by commission on our commission page, and you can see every broker we rate compared on the homepage.
Lowest Spreads By Region
If you trade from Canada, our comparison of lowest spreads among brokers that serve Canada is the page for you.
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FAQs
What Is An Advertised Average Spread?
Why Is A "From 0.0 Pips" Spread Not An Average?
What Is A Zero Spread Account?
How Much Commission Do Zero Spread Accounts Charge?
Does A 0.0 Pip Average Mean Every Trade Is Free?
Can A Zero Spread Account Still Have Slippage?
Which Currency Pairs Have The Tightest Spreads?
Which Is Cheaper, A Raw Spread Account Or A Standard Account?
About the author
Justin Grossbard is the CEO & Co-Founder of CompareForexBrokers established in 2014, along with Noam Korbl and works as Strategic Head Of Research.