Lowest Spread Forex Brokers

As one of our top-rated brokers, Eightcap secured a score of 67/100 in our evaluation. Notably, its low RAW average spreads, averaging 0.06 pips, outshine the industry average of 0.22 pips and stay at 0.0 pips 97.83% of the time outside rollover. This translates to lower trading costs, enhancing overall profitability.

We think the inclusion of diverse trading platforms, such as TradingView, MT4, and MT5, further contributes to Eightcap’s appeal.

Lastly, we should mention that Eightcap has 95 cryptos to choose from, far exceeding their competitors.

We like TradingView and think it’s one of the best platforms for technical analysis thanks to its impressive catalogue of 110+ indicators, which is always growing and being updated. In our experience, no other platform offers such routine updates to its platform, let alone improving its indicator choice.

One standout feature we appreciate is that the charts sync across all your devices, meaning your analysis performed on mobile will be available on your desktop and vice versa. This eliminates the need to replicate your analysis across different devices, which can be a hassle with platforms like MetaTrader 4, where charts are saved locally on the device.

From our testing, we found Eightcap to have tight RAW spreads, averaging 0.06 pips on EUR/USD, lower than the industry average.

Since the spreads are near zero, Eightcap charges a commission of $3.50 per lot traded. This commission-based pricing model offers transparency and predictability in trading costs (even in volatile markets), enabling you to manage your risk and expenses better if you are an active trader.

We also explored the markets available to trade on Eightcap, covering a range of markets, including 56 currency pairs, 586 shares, 16 indices, eight commodities, and 95 crypto markets. Eightcap’s cryptocurrency offering stood out to us as it is the largest selection we’ve found from a forex broker, giving you a decent platform to test the crypto market waters.

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*Your capital is at risk ‘77.8% of retail CFD accounts lose money’

We gave IC Markets an impressive 84/100 in our evaluation. Notably, their average spread when you combine the major pairs is just 0.16 pips for their RAW account, over 50% better than other brokers tested.

Enjoying these low spreads is made easy on the MetaTrader 5 (or MetaTrader 5 and cTrader), a user-friendly platform with over 30+ indicators and convenient features like one-click trading, making IC Markets a compelling choice for traders seeking efficiency and cost-effectiveness.

We think the MetaTrader 5 platform pairs nicely with IC Markets as the broker allows you to fully utilise all of MT5’s features, such as the depth of market tools. These tools provide valuable insights by displaying the order book and revealing an instrument’s real-time supply and demand.

This level of transparency can be invaluable for identifying potential entry and exit points and gauging market sentiment. We think MetaTrader 5 is an excellent choice for traders seeking advanced technical indicators and order-flow management.

While exploring MetaTrader 5, we found that it offers a decent choice of 38+ indicators by default, along with over 20+ drawing tools. With access to indicators such as moving averages, MACD, RSI, and Bollinger Bands, you’ll find a solid foundation to develop a trading strategy on the MT5 platform.

As for trading costs, we found the RAW spreads exceptionally low, averaging a mere 0.02 pips on the EUR/USD pair, slightly lower than Eightcap’s.

The broker also maintained excellent spreads across other major pairs, averaging 0.16 pips, the lowest major average spread we tested. Based on these results, IC Markets is our top choice if you focus on trading the forex markets.

Fusion Markets impresses with a high score of 79/100 in our evaluation, primarily for its exceptional trading experience marked by low RAW spreads and commissions.

The average RAW spread of just 0.22 pips on EUR/USD showcases cost-effectiveness. Notably, their RAW account commission, at only $2.25 per lot, stands significantly below the industry average by $1.10 per lot.

With low costs and a favorable trading environment, Fusion Markets emerges as a top choice for those seeking exceptional value in their trading journey.

While exploring MetaTrader 5, we found that it offers a decent choice of 38+ indicators by default, along with over 20+ drawing tools. With access to indicators such as moving averages, MACD, RSI, and Bollinger Bands, you’ll find a solid foundation to develop a trading strategy on the MT5 platform.

This low cost can help maximise your profits by minimising the impact of commission fees on your overall trading costs, especially if you are a high-volume trader.

To test Fusion Markets’ spreads, we opened a Zero account, which is their commission-based trading account with tight spreads.

Our analyst, Ross Collins, used this account to assess Fusion Markets’ average spreads and found that they provide highly competitive raw spreads, averaging 0.16 pips on the EUR/USD pair.

Typically, if something is cheap, you’d be right to wonder what the broker is missing. Well, we found the broker well-rounded, offering over 300+ markets covering all major markets, from forex to equities. Although this is below the industry average for choice, it still covers the major and popular instruments – allowing you to benefit from the low commissions on the most liquid markets.

Plus, the broker’s execution speeds are fast. We found the broker to achieve a limit order speed of 79 ms, a fraction slower than Pepperstone, but the market order execution speed was the fastest at 77 ms. With fast execution speeds, the lowest trading costs, and access to major markets, we think Fusion Markets places itself as a top broker for scalpers.

Pepperstone earned an impressive 97/100 in our evaluation, standing out for its swift execution speed and zero spreads, with trades on the MT4 platform completing in just 77ms on average.

Notably, Pepperstone’s Razor account offered zero spreads on EUR/USD throughout our testing period, making it an excellent choice for scalpers.

The diverse range of trading platforms, including MT4, MT5, cTrader, TradingView, and third-party apps like Capitalise.ai and DupliTrade, impressed us. Whether you prefer automated, chart, or copy trading, Pepperstone provides the right software for your needs.

Our analyst, Ross Collins, used our RAW account with Pepperstone to test the broker’s execution on the MetaTrader 4 platform and compared the results against 14 other brokers.

Ross’ findings were impressive. Pepperstone achieved an outstanding 77 ms limit order execution speed, which ranked as the fastest out of all the brokers we tested.

This exceptional execution speed is crucial, as it directly impacts how swiftly your pending, stop loss and take profit orders are executed. In fast-moving markets, where every millisecond counts, Pepperstone’s lightning-fast execution can be the difference between securing a profitable trade and missing an opportunity entirely.

Pepperstone advertises zero-pip spreads on its RAW accounts, so we tasked our analyst Ross Collins with verifying whether this claim holds true and how frequently these favourable spreads are available.

Ross found that Pepperstone provided 0.0 pip spreads on its major currency pairs 100% of the time, which is an excellent achievement. This zero-spread structure eliminates one of the most significant trading costs, potentially increasing your profitability by allowing you to capture more of the market’s movements without the burden of spread-related expenses.

Only Pepperstone and City Index achieved top marks in our testing, reinforcing that Pepperstone is the top broker for zero spreads.

AvaTrade is a decent broker and one of the few that offers fixed spreads on its markets, something other brokers seem to avoid. Interestingly, AvaTrade has a fixed spread of 0.9 pips on EUR/USD, lower than the industry average of 1.8 pips. More importantly, it is cheaper than variable spread brokers like FXCM and Tickmill.

Unusually for a market maker, they allow scalping, day trading and even social and copy trading. Lastly, we should mention that they have options trading with the AvaOptions mobile app, something few other brokers offer.

If you engage in day trading or prefer to capitalise on volatile markets, we believe AvaTrade is an excellent choice, thanks to its fixed spreads with no commission structure.

We used AvaTrade’s Standard account during our testing and found that they offered a spread of 0.9 pips on the EUR/USD pair. While this may appear more expensive than other spreads in this list, it’s important to remember that there are no additional commissions.

In fact, we found their fixed spreads to be highly competitive, as they remain consistent even during volatile market conditions and price spikes. This stability can potentially save you money when day trading, as you won’t be subject to fluctuating spreads that can widen during periods of increased volatility.

With the AvaTrade Standard account, you can access several platforms, including MT4, MT5, Web Trader, AvaTradeGO, and AvaTrade Options.

We tried the AvaTrade Web Trader, which featured an impressive market sentiment tool that integrated with the current market you were analysing. These sentiment tools can provide valuable insights by allowing you to gauge where AvaTrade’s clients believe the market will move.

For example, if over 60% of traders anticipate a rise in the EUR/USD pair, this is telling you most of AvaTrade’s clients are long on the major.

We believe tools like this can be especially beneficial for day traders, as they offer a quick and easy snapshot of market participants’ sentiment, which can be a valuable input when executing time-sensitive trades.

IG Group is one of the biggest names in forex trading for having 17,000+ markets to trade, one of the largest range of markets of all brokers. Not only can you trade more Forex pairs, stocks, indices and hard and soft commodities than most CFD brokers offer, but you can also trade futures, options, sectors and interest rates. And spreads are low because there are no commission costs.

IG Group offers an impressive 17,000+ markets, which stands out as the largest range we’ve seen from a CFD broker. In our tests, we found the broker to have 80+ FX pairs, 12,000+ stocks, 130 indices, 41 commodities, 6,000+ ETFs, and 7,000+ options markets.

Having a wide array of markets available through one account simplifies the trading process. It allows you to switch between markets without juggling multiple accounts or platforms, which can be critical in capitalising on market volatility across multiple assets.

In our tests, we found that IG Group only provides a Standard account, which is a spread-only account without commissions, as the commission is incorporated into the spread.

When testing the Standard account’s spreads across forex markets, we were pleased to discover that they were low compared to industry averages. Specifically, the broker averaged 1.13 pips on the EUR/USD pair, putting it on par with other low-spread brokers like Pepperstone.

We liked that IG Group offers several trading platforms, including MetaTrader 4, the IG Group Trading Platform, L2 Dealer, and ProRealTime. However, if you aim to maximise IG Group’s benefits, we recommend their proprietary IG Trading Platform as the top choice. This platform has over 40 indicators and trading signals from Autochartist and PIA First, specialists in technical and price action trading.

eToro stands out with a unique focus on a Copy Trading experience rather than the traditional approach. Through the CopyTrader platform, you can automatically replicate the trades of experienced traders, making it an ideal tool for those seeking high-risk trading without the need for personal expertise.

eToro average spreads of just one pip on EUR/USD, with no additional commission costs impressed us. Lower spreads translate to reduced trading costs, a crucial factor for maximising profitability in your trading journey.

eToro’s web platform is designed for social trading, allowing us to find and follow traders and discuss the latest trends, current markets, or strategies with other traders.

During our testing, the platform reminded us of Facebook and how we engaged with other traders on their profiles rather than in an open forum. This feature can be valuable for networking with experienced traders, especially for beginners, as it provides a unique opportunity to observe, learn, and interact directly with them.

Alternatively, we tried eToro’s CopyTrader feature, which enables mirroring a trader’s positions. This functionality is particularly useful if you lack extensive trading experience or prefer a more hands-off approach, as it allows you to leverage successful traders’ expertise without making intricate trading decisions themselves.

With features that simplify filtering eToro’s community of 30,000,000 traders, we could fine-tune the criteria to find traders who meet our requirements. This made finding traders to copy straightforward; when we did our due diligence, we knew the traders had already met our requirements. We could then allocate our funds via a percentage with eToro’s Copy tools, making it easy to fund and manage the Copy Traders.

As a broker focused on its trading platform, we were impressed with eToro’s competitive spreads, averaging one pip on EUR/USD and commission-free trading on stocks. We think this setup makes social trading better by letting traders follow their chosen strategies without high fees or commissions.

In the Forex brokerage arena, ThinkMarkets stands out for its unique offering of shares and ETF investing alongside CFD products.

With the ThinkTrader app, you can invest in over 3,100 ASX shares at just $8 per trade, in addition to trading 46 Forex pairs, 352 ETFs, 17 indices, 27 cryptos and even futures, metals, and energies with MT4 and MT5.

Boasting low average spreads, starting from just 0.1 pip on EUR/USD, ThinkMarkets provides a cost-effective trading environment, particularly beneficial for those employing frequent automated strategies.

We like ThinkMarkets’ extensive offering of over 3,000 markets for trading CFDs, shares, and Exchange Traded Funds. This broad range provides ample opportunities for diversification and exposure to various asset classes, catering to traders with diverse preferences and risk appetites.

Our tests found that ThinkMarkets covers most major markets, including 47 currency pairs, 59 ETFs, 23 indices, and 15+ commodities, ensuring that traders can access various instruments to suit their trading strategies.

We found ThinkMarkets trading costs to be reasonable. The $8 per trade charge and small spreads, which vary for each share, offer a competitive pricing structure.

For instance, during our tests, we observed a spread of $0.03 on Amazon shares, which is quite favourable compared to the industry average. This cost-effective approach can help lower your share dealing costs, improving your profit margin.

When it comes to the broker’s other markets, we were pleased with the competitive spreads on offer. The standard account provides spreads as low as 1.1 pips on the EUR/USD pair without commission.

If you want even tighter spreads, the ThinkZero account is an attractive option, offering average spreads from 0.1 pips on EUR/USD. While this account charges a commission of $3.50 per lot traded, it aligns with the industry average, balancing spread costs and commissions.