Lowest Spread US Forex Brokers

Forex.com Has Great Low STP Spreads

Offering spreads as 0.0 pips on its STP Pro account, Forex.com takes first place as the lowest of the lowest spread US forex brokers. The no dealing-desk model of its straight-through processing (STP) and electronic commission (ECN) accounts means Forex.com processes trades at market prices, which means tighter spreads and higher profits for traders.

Trading Accounts

With four different account types, Forex.com has an option to suit just about any trader.

For discretionary traders, the Standard and MetaTrader 4 accounts charge no commission or funding costs and have a minimum spread of 1.0 pip. The main difference? Your trading platform. Standard account holders will execute trades via Forex.com’s proprietary platform and NinjaTrader, while MetaTrader 4 accounts – as the name implies – have access to the MetaTrader 4 trading platform.

For system traders and others relying heavily on speed and volume, the Commission and STP Pro Account types boast impressively tight spreads: 0.2 pips for the Commission account and 0.0 for the STP Pro account.

Note, however, that the STP Pro account lives up to its name, with a $25,000 minimum deposit and a volume-based commission system that ranges from $80 per $100M round-turn trades to $30 per $1 billion.

Users with Commission account by comparison only need $100 to get started and can expect to pay $10 round-turn per 100K lot.

Trading Platforms

In addition to MetaTrader 4, Forex.com account holders can select from among an impressive array of trading platforms, including the broker’s own highly-touted web and mobile offerings.

Traders using the Standard account can diversify their activity with the NinjaTrader platform, which includes futures-specific charting tools, as well as charting and automation tools comparable to MetaTrader.

At the Commission and STP Pro account level, however, Forex.com has a more limited range of trading platform options. Commission account holders can trade on MetaTrader 4, however STP Pro accounts run exclusively on the broker’s own platform. That said, the Forex.com web and mobile platforms stack up well against MetaTrader, with advanced charting tools, trading from charts and other powerful features.

Trading Products

With nine major currency pairs, plus gold and silver, index futures and futures options, Forex.com stands out among the lowest spread US forex brokers for the variety of trading products available in the US.

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Oanda Has Top for Commission-Free Trading

If you’re searching for extra savings among the lowest spread US forex brokers, Oanda may be the platform for you. In addition to low forex fees on long positions, traders opting for a Spread Only Pricing account pay no commission on round-turn trades per 100K lot.

Trading Accounts

While Oanda’s two account types for US traders both make use of a dealing desk, the unique fee structure on the Spread Only Pricing account and low commission fee on the Core Pricing account can add up to significant savings for a savvy trader.

Spread Only Pricing accounts charge no commission on round-turn trades. Instead, Oanda assesses a spread fee to cover the cost of executing a trade. Note, however, that the spread for these accounts varies, and starts at .6 pips.

Core Pricing account holders will pay a $10 commission on round-turn trades per 100K lot, but benefit from a tighter minimum spread of .1 pips.

Neither the Spread Only Pricing nor the Core Pricing accounts require a minimum balance, however you will be charged a monthly fee of up to ten units of your account currency for periods of inactivity longer than twelve months. On the other hand, Oanda stands out from other lowest spread US forex brokers for its customer service. Account holders benefit from 24/7 support in multiple languages.

Trading Platforms

Oanda account holders are spoiled for choice when it comes to trading platforms. In addition to award-winning web, desktop and mobile options powered by TradingView, Oanda also offers access to MetaTrader4 and MetaTrader4 Premium via a proprietary plugin.

Regardless of your preferred platform, Oanda offers all the tools a beginning or advanced trader might want, including personalised charts, performance analytics and layouts. Traders opting for the desktop platform will also gain access to detailed assessments of strategic strengths and weaknesses based on behavioural patterns.

Trading Products

Oanda limits American traders to forex products only, but offers an impressive variety: up to 68 currency pairs, with spreads as tight as 0.0 pips for Core Pricing Account Holders. Major currency pairs include EUR, GBP, USD, JPY, NZD, AUD and CHF.

Oanda may also prove attractive to volume traders for its rebate structure. Traders with a minimum balance of $10,000 and monthly trade volume of more than $10 million can choose between a per-million cash rebate or commission reduction.

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ATC IS A Good MetaTrader 4 Broker

Looking to make the most of MetaTrader4 and its powerful suite of analytics, trading tools and charts while enjoying some of the lowest spreads from US forex brokers? Look no further than ATC.

Trading Accounts

US-based traders who choose ATC as their forex broker can choose between three account types: Individual, Joint and Corporate, all operating on a no-dealing desk model that uses either ECN or STP for trade execution. Scalping, hedging and fully automated trading styles are permitted across all account types.

All accounts require a minimum deposit of $3,000, but benefit from a flat commission of $10 round-turn per 100K lot.

ECN Broker Spreads	USD/JPY USD/CAD EUR/USD EUR/GBP AUD/USD AUD/JPY GBP/USD USD/JPY USD/SGD	USD/JPY USD/CAD EUR/USD EUR/GBP AUD/USD AUD/JPY GBP/USD USD/JPY USD/SGD	USD/JPY USD/CAD EUR/USD EUR/GBP AUD/USD AUD/JPY GBP/USD USD/JPY USD/SGD	USD/JPY USD/CAD EUR/USD EUR/GBP AUD/USD AUD/JPY GBP/USD USD/JPY USD/SGD	USD/JPY USD/CAD EUR/USD EUR/GBP AUD/USD AUD/JPY GBP/USD USD/JPY USD/SGD
	0.30	N/A	0.30	0.50	0.40
	0.23	0.20	0.06	0.42	0.27
	0.19	0.38	0.10	N/A	0.21
	0.26	0.47	0.17	0.40	0.24
	0.30	1.10	0.10	0.60	0.50
	0.50	0.80	0.50	0.60	0.70
	0.10	0.50	0.10	0.30	0.40
	n/a	0.30	n/a	0.60	0.50
	2.40	2.80	2.10	2.70	2.10
	0.30	0.50	0.20	0.60	0.30
	0.60	0.66	0.23	0.90	0.65
	0.10	0.20	0.10	0.40	0.10

Data taken from broker website. Accurate as at 01/05/2022

Trading Platforms

In addition to MetaTrader4, ATC account holders have access to MT Pro, an enhanced version of the world’s most popular trading platform. One big improvement? MT Pro offers traders depth of market view. MT Pro also includes additional risk management tools not available on MetaTrader 4, such as bracket orders, trailing stops and strategy orders.

MT Pro also boasts even more sophisticated analytical tools. Traders hoping to refine their strategies can review performance across a range of performance metrics, including winners and losers, overall performance and time analysis.

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TD Ameritrade Has The Best Range Of Markets

As part of the Charles Schwab Corporation, TD Ameritrade account holders benefit from impressively thorough market research and comprehensive educational resources, as well as an intuitive interface that’s just the ticket for forex investors interested in exploring the market as part of a broader investment strategy.

Trading Accounts

The TD Ameritrade Standard account operates on a dealing desk model with a 1.0 pip minimum spread. Simplistic? Perhaps. But given the variety of products available to – more than any other broker we reviewed – and the enhanced safety features, TD Ameritrade remains an attractive option for everyday traders for whom forex is part of a larger, more diverse investment strategy.

Trading Platforms

TD Ameritrade relies on the thinkorswim platform to deliver maximum flexibility to forex, options, futures and day traders. Available in desktop, web and mobile formats, thinkorswim provides many of the same features as MetaTrader 4, plus some important extras, like depth of market views.

Advanced desktop users can take advantage of the proprietary Strategy Roller tool to manage Covered Call positions, while novices hone their trading strategy using the paperMoney virtual trading simulator. TD Ameritrade’s partnership with thinkorswim means account holders also enjoy access to thinkScript, the platform’s algorithmic trading solution, and more than 400 technical studies.

The reliance of thinkorswim makes for limited third-party integrations, however, and the platform does not allow for social trading.

Trading Products

As a full-service brokerage, TDAmeritrade offers account holders a comprehensive array of trading products, including 70 forex pairs.

In addition to forex, TD Ameritrade account holders can trade in ten precious metals, cryptocurrency, futures and futures options and EFTs, though commissions will vary depending on the product.

eToro Has Great Social Crypto Trading

For those who like to get by with a little help from friends and fellow investors when devising a trading strategy, eToro may be the best of the lowest spread US forex brokers. The self-identified ‘world’s largest social investment community’ has over 11 million users and supports both social and copy trading.

Trading Accounts

While eToro continues to expand its presence in the US, residents of some states may find themselves eligible for only a virtual account. For other American traders, the brokerage currently offers a single account option and limits forex trading to cryptocurrencies.

An eToro Standard account operates on a dealing-desk model with a 1 pip spread, with a ‘spread plus 1%’ fee round round-turn per lot. Leverage is capped at 30:1, slightly lower than other brokers we reviewed. The costs associated with trading stocks and EFTs are competitive, however, with 0% commission. Stock traders can buy and sell fractional shares, also at no commission.

Unlike other low spread US forex brokers we reviewed, eToro allows traders to fund accounts using cryptocurrency, including bitcoin, ethereum and XRP.

Trading Platforms

With web and mobile platforms optimised for social and copy trading, eToro stands out amongst the lowest spread US forex brokers for highlighting these novel trading strategies.

A wall-style ‘feed’ of commentary from other eToro users helps traders stay up-to-date on what other eToro users have to say about the market, while the platform’s sentiment data metric captures activity only from top traders – a feature the broker indicates increases accuracy and utility.

Notably, eToro offers neither a desktop platform nor third party integrations for MetaTrader 4 or MetaTrader 5. While the broker’s own analytical tools and market research are solid, traders accustomed to the MetaTrader interface may want to look elsewhere.

Trading Products

In addition to 42 cryptocurrencies, eToro’s American account holders can also trade in stocks and EFTs.

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