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You are here: Home / Which Brokers have the lowest spreads in 2023?

Which Brokers have the lowest spreads in 2023?

Eduardo Montero

Author: Eduardo Montero

Spread or differential between the ask and bid prices of currency pairs is one of the most important factors in Forex trading. This is because it is the commission that online brokers typically pay for trading in foreign markets.

CFD and Forex trading are both subject to a commission. This is usually charged as a percentage of each trade. A broker who offers low spreads is crucial for traders who trade in Forex and CFD trading. This is especially important for those who need to open and close many positions quickly, such as daytraders or scalpers. Spreads that are lower can make a trading strategy profitable or not. Learn more: A list of scalping brokers.

ECN brokers (Electronic Communication Network) offer the lowest spreads. They connect directly with major global liquidity providers. ECN brokers (Electronic Communication Network) are able to access the lowest spreads according to market conditions. They usually receive a commission per transaction. Spreads can be affected by market liquidity and market conditions.

The spreads shown in the table are indicative only and may not reflect current broker conditions.

BrokerKey FeaturesOffer

XTB Broker

Go to XTB

Spreads: Spreads from 0.1 pips.

Website: https://www.xtb.com/
Regulated by: FCA, CNMV, FSC
Min Deposit: 0 € / $
Trading Platforms: WebTrader + iOS App + Android App
Type of Execution: Market Maker / STP
Available Instruments: Over 2100: Forex, indices, commodities, stocks, ETFs and cryptocurrencies.

Excellent customer support.

Pepperstone

Go to Pepperstone

Spreads: From 0 pips on Razor accounts (with commission) and from 0.6 pips on Standard accounts.

Website: https://pepperstone.com/
Regulated by: FCA, CySEC, ASIC, BaFin, DFSA, SCB, CMA
Min Deposit: 200 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader + Trading View
Type of Execution: STP / NDD
Available Instruments: More than 1200. Specialised in Forex, also offers CFDs on indices, stocks, commodities, cryptocurrencies, ETFs and currency indices.

Low spreads and ultra-fast execution.



(*) Between 74-89 % of retail investor accounts lose money when trading CFDs.

XM Broker

Go to XM

Spreads: From 0.6 pips on Ultra Low Micro and Ultra Low Standard accounts and from 0 pips (with commission) on XM Zero account.

Website: https://www.xm.com/
Regulated by: CySEC, ASIC, FSC
Min Deposit: 5 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5
Type of Execution: Market Maker
Available Instruments: More than 1000: Wide range of Forex currency pairs. Also commodities, precious metals, indices and stocks.

$30 no deposit bonus and deposit bonus up to $5,000.



(*) Bonuses not available for clients of the XM Group's European regulated entity. Check conditions on the broker's website.

Plus500

Go to Plus500

Spreads: Variable Spreads. Please refer to the Plus500 website.

Website: https://www.plus500.com/
Regulated by: FCA, CySEC, ASIC, FSA, DFSA, FSCA
Min Deposit: 100 € / $
Trading Platforms: WebTrader + iOS App + Android App
Type of Execution: Market Maker
Available Instruments: Over 2,000 CFDs: indices, currencies, commodities, cryptocurrencies, stocks, options and ETFs.

Free demo account with no time limit.



(*) CFD Service. Your capital is at risk.

eToro

Go to eToro

Spreads: From 1 pip

Website: https://www.etoro.com/
Regulated by: FCA, CySEC, ASIC
Min Deposit: 200 € / $
Trading Platforms: WebTrader + iOS App + Android App
Type of Execution: Market Maker
Available Instruments: Over 3500: Large number of stocks (over 3100) and cryptocurrencies (over 75). Also commodities, currencies, indices and ETFs.

World leader in social trading.



(*) Warning: 78% of retail CFD accounts lose money.

IC Markets

Go to IC Markets

Spreads: From 0 pips on Raw Spread accounts (with commission) and from 0.6 pips on Standard accounts.

Website: https://www.icmarkets.com/
Regulated by: CySEC, ASIC, FSA
Min Deposit: 200 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader
Type of Execution: ECN
Available Instruments: More than 2250: More than 60 Forex currency pairs. Also offers commodities, indices, stocks, bonds, cryptocurrencies and futures.

Axi Broker

Go to Axi

Spreads: From 0.4 pips on Standard accounts and from 0 pips on Pro accounts (with commission).

Website: https://www.axi.com/
Regulated by: FCA, ASIC, DFSA, FSA
Min Deposit: 0 € / $
Trading Platforms: MetaTrader 4
Type of Execution: STP / ECN
Available Instruments: More than 130 instruments: Forex, indices, commodities and cryptocurrencies.

IQ Option

Go to IQ Option

Spreads: Variable spreads from 0.9 pips.

Website: https://iqoption.com/
Regulated by: --
Min Deposit: 50 € / $
Trading Platforms: Own Platform + iOS App + Android App
Type of Execution: Market Maker
Available Instruments: Over 250 CFDs: Forex currencies, stocks, cryptocurrencies, commodities and ETFs.

FP Markets

Go to FP Markets

Spreads: From 1 pip on Standard accounts and from 0 pips on Raw accounts (with commission).

Website: https://www.fpmarkets.com/
Regulated by: CySEC, ASIC
Min Deposit: 100 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5 + IRESS
Type of Execution: ECN
Available Instruments: More than 10,000 tradable instruments: Forex, CFDs, indices, stocks, commodities, metals, cryptocurrencies and bonds.

RoboForex

Go to RoboForex

Spreads: Average spreads from 1.4 pips on Cent and Standard accounts and from 0.1 pips for ECN accounts (with commission).

Website: https://roboforex.com/
Regulated by: FSC
Min Deposit: 100 € / $
Trading Platforms: WebTrader + MetaTrader 4 + MetaTrader 5 + cTrader + iOS App + Android App
Type of Execution: STP / ECN
Available Instruments: Over 12,000: Forex, stock indices, ETFs, commodities, cryptocurrencies and stocks (over 8400 in R Stocks Trader account).

First and subsequent deposit bonus up to $50,000.



(*) Bonus not available for European clients. Check conditions on the broker's website.

EXNESS

Go to Exness

Spreads: Spreads from 0.3 pips on Standard accounts and from 0.1 pips on Pro accounts (with commission).

Website: https://www.exness.com/
Regulated by: FCA, CySEC, FSC, FSCA, FSCA, FSC, SDL, CBCS
Min Deposit: 0 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5
Type of Execution: Market Maker / ECN
Available Instruments: Over 250 instruments including more than 100 Forex pairs, commodities, energies, stocks, indices and cryptocurrencies.

FBS Broker

Go to FBS

Spreads: Spreads from 0.5 pips on Standard accounts, from 1 pip on Cent accounts, fixed spreads from 3 pips on Micro accounts, from 0 pips on ECN accounts (with commission) and fixed 0 pips on Zeros Spread accounts (with commission).

Website: https://www.fbs.com/
Regulated by: CySEC, FSC
Min Deposit: 1 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5 + iOS App + Android App
Type of Execution: STP / ECN
Available Instruments: Over 180 assets: Forex currencies, cryptocurrencies, precious metals, energies and equities.

$140 no deposit bonus (to trade for 40 days) and 100% deposit bonus doubling your deposit.



(*) Bonuses are not available for European clients. See conditions on the FBS broker's website.

AvaTrade

Go to AvaTrade

Spreads: Fixed spread of 0.9 pips on EUR/USD.

Website: https://www.avatrade.com
Regulated by: Central Bank of Ireland, ASIC, BVI, FSA, FSCA
Min Deposit: 0 € / $
Trading Platforms: WebTrader + MetaTrader 4 + MetaTrader 5 + iOS App + Android App
Type of Execution: Market Maker
Available Instruments: More than 200. Major, minor and exotic Forex pairs, cryptocurrencies and CFDs on indices, commodities and stocks.

OANDA

Go to OANDA

Spreads: Spreads from 1 pip.

Website: https://www.oanda.com/
Regulated by: FCA, ASIC, NFA, BVI FSC, MFSA, IIROC
Min Deposit: 0 € / $
Trading Platforms: MetaTrader 4 + MetaTrader 5
Type of Execution: Market Maker
Available Instruments: More than 120: Forex, indices, metals, stocks, commodities and cryptocurrencies.

Deposit bonus up to $5,000.



(*) Bonus not available for European customers. See terms and conditions on the Oanda website.

The broker used to reward more professional or experienced investors with lower spreads. With the rise of new brokers and increased competition among them the deposit requirements to access low spreads have become lower. Brokers don’t tend to make any distinction for clients with more capital to trade with. Online brokers offer a wide range of trading accounts for different investor profiles. However, the spreads that are the most attractive to clients will always be the best. Brokers that offer higher spreads tend to have higher deposits and more experienced traders. Each type of account has its own characteristics and requirements. This is primarily a segmentation strategy.

Market Maker brokers, on the other hand, are counterparties to clients’ trades and offer higher spreads than ECNs. However, these spreads are typically fixed. Spreads like these may be more beneficial for certain types and investment strategies.

No matter what your trading style is (fixed or variable spreads), it’s important to find an online broker with low spreads. This contrasts with other services and factors like reliability of your funds. The table below shows what we consider the top Forex brokers. You can also compare their spreads for the EUR/USD pair so you can identify the ones with the lowest spreads.

If you want to test how spreads impact your trading, a good way is to open a demo account first instead of starting on a live account. Here is a comparison table of brokers with free demo accounts.

This post is also available in Spanish: brokers spreads, German: broker spreads, Malay: spread rendah malaysia, Thai: Thai


Eduardo Montero

Author: Eduardo Montero

Welcome to Mundo-Forex.com: I'm Eduardo Montero, I work professionally in IT. I started trading in the financial markets (mainly Forex) more than 10 years ago. I'm the author of the articles on this website and of many others published on other websites specialised in stock market investment and finance in general. Learn more about me here: About the author.


 

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(*) Risk warning: CFDs are complex instruments and have a high risk of losing money quickly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are a difficult product to understand, the CNMV considers them unsuitable for retail investors due to their complexity and risk. Your capital is at risk. Trading foreign exchange or CFDs with leverage carries a high level of risk and may not be suitable for all types of investors. The high degree of market leverage can play both against and for the investor. Therefore, before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk tolerance. Remember that there is a possibility of losing some or all of your initial investment, even exceeding that amount, so do not invest money you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange and CFD trading and if in doubt seek the advice of an independent financial advisor. The opinions expressed on Mundo-Forex.com are those of independent authors who do not necessarily represent the opinion of Mundo-Forex.com or its management team. Mundo-Forex.com does not verify the certainty or veracity of the statements or complaints made by any of the independent authors who collaborate on the website. All published texts are liable to contain errors or omissions. The opinions, news, reports, analyses, quotes or other information contained in Mundo-Forex.com, produced by the Mundo-Forex.com team, its partners or collaborators are of a general market commentary and in no way constitute or should be understood as investment advice or recommendation. Mundo-Forex.com disclaims any legal responsibility for any loss or damage including, but not limited to, loss or profits that may arise directly or indirectly from the use of this information or the trust placed in it. ® Mundo-Forex.com - All rights reserved. © 2023 Office: Calle Rosalía de Castro 67 9C - 36201 - Vigo (Pontevedra) - Spain - Mundo-Forex.com All about Forex trading

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