Broker | Features |
---|---|
Go to XTB | Excellent 24-hour customer service. More than 3000 instruments to trade. Free webinars.(*) Warning: Your capital is at risk. 77% of retail CFD accounts lose money. Spread EUR/USD: From 0.8 pips for Standard accounts. From 0.1 pips for Pro accounts with commission per lot traded. Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: xStation5, iOS App, Android App. Execution: Market Maker / STP Regulation: Web Page: https:/www.xtb.com |
Go to Pepperstone | Spreads from 0 pips. Ultra fast execution (less than 30 milliseconds). Perfect for scalping and automatic trading. Spread EUR/USD: From 0.6 pips on Standard Account and from 0.0 pips on Razor Account with commission from 5.23 EUR per lot traded. Demo Account: Yes Minimum Deposit: 200 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, Trading View. Execution: STP / NDD Regulation: Web Page: https://www.pepperstone.com |
Go to eToro | World leader in social trading. You can copy the best investors automatically.(*) Warning: 68% of retail CFD accounts lose money.
Spread EUR/USD: From 3 pips Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: Web Page: https://www.etoro.com |
Go to XM Group | Bonus of $30 without deposit and bonuses of up to $5,000 per deposit.(*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds. Spread EUR/USD: From 1.6 pips on Micro and Standard accounts (average 1.7 pips) and from 0 pips on Zero accounts (with a commission of $3.5 per $100,000 traded). Demo Account: Yes, unlimited Minimum Deposit: 5 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: Web Page: https://www.xm.com |
Go to Exness | Trade stocks, Forex and more with competitive spreads. Instant withdrawals. Spread EUR/USD: From 0.3 pips for Standard accounts, from 0.1 pips for Pro accounts and from 0 pips with commission of 3.5 USD per lot on Zero and Raw Spread accounts. Demo Account: Yes Minimum Deposit: 10 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker / ECN Regulation: Web Page: https://www.exness.com |
Go to AvaTrade | 5 international regulations. 4 trading platforms to choose. Spread EUR/USD: Fixed spreads from 0.9 pips. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, iOS App, Android App. Execution: Market Maker Regulation: Web Page: www.avatrade.com |
Go to Plus500 | More than 2,000 CFD instruments to trade.(*) Warning: 77% of retail CFD accounts lose money. Spread EUR/USD: Variable Demo Account: Yes, unlimited Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: Web Page: https://www.plus500.com |
Go to IQ Option | Very intuitive app with more than 10 million downloads. 7 free deposit methods with no fees. Spread EUR/USD: Variable from 0.9 pips. Demo Account: Yes, unlimited Minimum Deposit: 50 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: Web Page: https://www.iqoption.com |
Go to IC Markets | Spreads from 0 pips. Real interbank liquidity (up to 50 sources). Perfect for high volumes, scalping and robots. Spread EUR/USD: Average of 1.1 pips on Standard accounts and 0.1 pips on Raw Spread accounts (with commission per lot). Demo Account: Yes Minimum Deposit: 200 $ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: ECN Regulation: Web Page: https://www.icmarkets.com |
Go to RoboForex | Spread EUR/USD: Average of 1.4 pips for Cent and Standard accounts and from 0.1 pips for ECN accounts (with volume commission). Demo Account: Yes, unlimited Minimum Deposit: 0 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App. Execution: STP / ECN Regulation: Web Page: https://www.roboforex.com |
Go to FP Markets | Spread EUR/USD: Variable from 1.1 pips on Standard accounts and from 0 pips on Raw accounts with commission per lot. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS. Execution: ECN Regulation: Web Page: https://www.fpmarkets.com |
Go to Axi | Spread EUR/USD: Average of 1.1 pips on Standard Account and from 0 pips on Pro Account with commission per lot traded (round trip $7). Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: MetaTrader 4. Execution: STP / ECN Regulation: Web Page: https://www.axi.com |
Go to OANDA | Spread EUR/USD: Average of 0.6 pips Demo Account: Yes, unlimited Minimum Deposit: 0 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: Web Page: https://www.oanda.com |
Go to OctaFX | Spread EUR/USD: On account Micro variable from 0.4 pips
or fixed from 2 pips. In Pro account variable from 0.2 pips. In ECN account variable from 0 pips (with commission). Demo Account: Yes, unlimited Minimum Deposit: 5 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: STP / ECN Regulation: Web Page: https://www.octafx.com |
Go to Capital.com | (*) Warning: 79.17% of retail CFD accounts lose money. Spread EUR/USD: From 0.8 pips. Demo Account: Yes, unlimited Minimum Deposit: 20 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: Web Page: https://www.capital.com |
The spreads indicated in the table are indicative and may be outdated or may not correspond to the current conditions of each broker.
Which are the Brokers with the Lowest Spreads?
The spread or differential between the bid and ask price of a currency pair is one of the fundamental factors when investing in Forex, since it is the commission for trading in the markets that brokers usually apply.
In Forex and CFD trading it is common for the broker to charge this type of commission rather than a flat fee for each trade order. Finding an online broker that offers the lowest possible spreads is one of the most important factors for any trader, even more so for those who open and close numerous positions in short periods of time, such as those who daytrade or use techniques such as scalping. In these cases, lower spreads can mean the difference between a trading strategy being profitable or unprofitable. More Info: List of brokers for scalping.
Until recently, lower spreads have gone hand in hand with very high initial deposit requirements, so that the broker rewarded more experienced or professional investors. However, with the emergence of new brokers and increased competition among them, the deposits required to access low spreads are becoming lower and lower; brokers do not tend to make a special distinction for clients who have more capital to trade with. While it is true that online brokers often offer their clients a variety of trading accounts to target different investor profiles, the brokers that offer the best spreads remain the ones that offer the best spreads. The ones that offer better spreads are still the ones that try to attract higher deposits and a profile of more experienced traders. The characteristics and requirements for opening each type of account vary and are mainly aimed at segmenting clients.
Generally the lowest spreads are offered by ECN brokers (Electronic Communication Network), those that offer direct connectivity with the major global liquidity providers. In this way, they themselves get access to the lowest spreads available at any given time and according to the prevailing market conditions, usually in exchange for a commission per transaction volume. By having the most favourable bid and ask prices available at any given time, spreads are naturally variable, depending on the market situation and the number of participants at that precise moment (market liquidity).
On the other hand, there are Market Maker brokers that usually act as counterparties to their clients’ trades, usually offering higher spreads than ECNs; however, these spreads are usually fixed . Such spreads may be more advantageous for certain types of traders and investment strategies.
Whatever your preference (trading with fixed or variable spreads), the important thing is to research and select an online broker that offers low spreads, in contrast to the other services it offers and other factors such as transparency and reliability of funds. In the table above you can find what we consider to be the best brokers for Forex trading and compare the spreads they offer for the EUR/USD pair to find the brokers with the lowest spreads.
References and sources:
- What is a Spread in Forex Trading?
- How Forex Brokers Make Money
- The Basics of Forex Trading
- What Does a Forex Spread Tell Traders?