Tight Spread Forex Brokers
When it comes to forex trading, many traders look for brokers who have the smallest spreads possible in order to maximize their prospective profits.
The development of forex trading in recent years has resulted in stronger than ever competition between brokers, forcing many of them to offer competitive trading conditions and tight spreads to attract customers.
In this article, we explore the best tight spread Forex brokers that offer an excellent trading environment, strong regulation and a wealth of trading features.
IFX Brokers
Overview
The dedication of IFX brokers to their traders and consumers is well-known.
Using this platform, customers can trade a wide variety of financial instruments. A one-stop centre for internet traders is provided by the broker, which is based in South Africa. Clients can trade commodities, indices, energy, and more on MetaTrader 4 from the comfort of their own home.
Pros and Cons
| PROS |
|
High leverage available |
|
MetaTrader 4 is supported. |
|
Resources for learning are available |
| CONS |
Lax regulation |
Features
FEATURE | INFORMATION |
Regulation | FSA |
Minimum deposit from | ZAR100 |
Average spread from | 0.5 pips |
Commissions from | NA |
Deposit/Withdrawal Fees | NA |
Maximum Leverage | 1:500 |
Bonuses | NA |
Customer Support | 24/5 |
City Index
Overview
City Index’s spreads start at just 0.5 points on major currency pairings. Price transparency and comprehensive customer service are two key goals for this broker.
Over 12 000 worldwide markets across Forex, Indices, Shares, and Commodities are available to City Index clients.
Pros and Cons
| PROS |
Low trading fees |
No fees for deposit and withdrawal |
Comprehensive research tools |
|
| CONS |
Limited product portfolio |
|
Features
FEATURE | INFORMATION |
Regulation | FCA, ASIC |
Minimum deposit from | $100 |
Average spread from | 0.5 pips |
Commissions from | $3 |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:200 |
Bonuses | Deposit Bonus |
Customer Support | 24/6 |
IC Markets
Overview
The spreads offered by IC Markets are among the most competitive in the industry across all major and minor currency pairs.
Furthermore, the EUR/USD spread, which averages 0.1 pips, is among the lowest available anywhere in the world.
Spreads can be as low as 0.0 pips on the MetaTrader and cTrader Raw Spread platforms, which are both used by professional traders.
Pros and Cons
| PROS |
Low trading costs |
Easy process to open an account |
No deposit or withdrawal fees |
| CONS |
Limited range of CFDs |
|
|
Features
FEATURE | INFORMATION |
Regulation | ASIC |
Minimum deposit from | $200 |
Average spread from | 0.1 pips |
Commissions from | None |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/7 |
Exness
Overview
CFD trading on a wide range of assets, such as currency pairings, commodities, cryptocurrencies, energy, indexes, and stocks, is possible with Exness, allowing traders to have a taste of the global markets. As such, clients profit from fast and accurate order execution and low spreads.
Opening an account with Exness allows users to gain access to leading positions in the foreign exchange market, free VPS hosting, and support for several trading platforms, including the industry standard MT4 and MT5 platforms.
Pros and Cons
| PROS |
Well-regulated |
Tight spreads |
Over 130 currency pairs |
CONS
|
|
Features
| FEATURE | INFORMATION |
| Regulation | CySEC, FCA |
| Minimum deposit from | $1 |
| Average spread from | 1.3 pips |
| Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Standard +10% Bonus Programme |
| Customer Support | 24/5 – multilingual |
HotForex
Overview
If you have a HotForex ZERO Spread account, you’ll get super-tight spreads from top liquidity providers with no mark-ups.
With the account, commissions start at a modest USD 0.03 per 1K lot, making it one of the most transparent commission-based structures available.
Pros and Cons
| PROS |
|
No deposit or withdrawal fees |
|
Competitive spreads |
| CONS |
High commission charges on the Zero account |
Features
FEATURE | INFORMATION |
Regulation | CySEC, DFSA, FCA, FSA, FSCA |
Minimum deposit from | $5 |
Average spread from | 0.0 pips |
Commissions from | USD 0.03 per 1K lot. |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:1000 |
Bonuses | 100% Supercharged Bonus |
Customer Support | 24/5 |
Dukascopy
Overview
Spreads as low as 0.2 pips are available on popular currency pairings through Dukascopy’s pricing mechanism.
Orders are executed instantly, and a wide range of trading orders, including stop-loss orders, are available. Customer service is available around the clock, seven days a week.
FINMA, the Swiss Financial Market Supervisory Authority, has stronger rules for banks and securities dealers like Dukascopy than other legal jurisdictions.
Pros and Cons
| PROS |
Good choice for high volume traders |
Comprehensive analytical tools |
Flexible trading on advanced platforms |
Good selection of currency accounts |
| CONS |
High commission |
Charges withdrawal fees |
High minimum deposit |
Charges inactivity fee |
Features
FEATURE | INFORMATION |
Regulation | FINMA |
Minimum deposit from | $100 |
Average spread from | 0.3 pips |
Commissions from | $49.5 per $1 million traded |
Deposit/Withdrawal Fees | Varies depending on the method |
Maximum Leverage | 1:200 |
Bonuses | 10% Equity Bonus |
Customer Support | 24/5 |
XM
Overview
XM’s tight spreads are available to all customers, regardless of account type or trade size. It’s important to XM that its customers can trade with its narrow spreads. Because of this, the broker places a high value on the quality of its execution.
XM aims to secure the best possible pricing from all of its liquidity sources in order to keep spreads as low as feasible. The best bid and ask prices are gathered from liquidity sources in real time.
Pros and Cons
| PROS |
Low minimum deposit |
Comprehensive educational offering |
Streamlined account opening process |
| CONS |
Inactivity fee charged after 90 days on live accounts |
Limited product portfolio |
Features
FEATURE | INFORMATION |
Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
Minimum deposit from | $5 |
Average spread from | 0.1 pips |
Commissions from | $3.5 commission per $100 000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:30 |
Bonuses | $30 Trading Bonus |
Customer Support | 24/5 |
FXTM
Overview
FXTM has a wide range of account types to suit the needs of each trader, including Standard and ECN accounts.
A reputable forex broker, FXTM has earned the trust of traders all over the world. As a result, clients may rest easy knowing that their money is being held in high-quality European banks.
To trade, you’ll have access to low fixed and variable spreads that start at just 0.1 on ECN accounts and 0.5 on Standard accounts.
Pros and Cons
PROS |
Superb customer service |
High maximum leverage |
Great educational tools |
|
| CONS |
Inactivity and withdrawal fees |
Limited product portfolio |
|
Features
FEATURE | INFORMATION |
Regulation | CySEC, FCA, FSCA |
Minimum deposit from | $100 |
Average spread from | 0.1 pips |
Commissions from | No commission |
Deposit/Withdrawal Fees | $3 |
Maximum Leverage | 1:500 on average |
Bonuses | $300 Trading Bonus |
Customer Support | 24/5 |
Alpari International
Overview
Alpari was founded in 1998 and now has more than 2 million customers around the world. All types of traders can benefit from the broker’s high-quality STP/ECN trading expertise.
Over 60 assets, including currency pairings, commodities, and CFDs, are available for trading. Alpari has a stellar track record, having received numerous industry accolades in addition to offering a wide selection of markets and robust security measures.
If you’re looking for some of the most competitive spreads on key currency pairings, Alpari International is your best bet.
Pros and Cons
| PROS |
Advanced copy trading software available |
Wide selection of tradable assets |
Low minimum deposit |
Excellent multilingual customer support |
| CONS |
Limited educational resources and research tools |
|
Features
FEATURE | INFORMATION |
Regulation | Financial Services Commission (FSC) |
Minimum deposit from | $100 |
Average spread from | 1.2 pips on majors |
Commissions from | charged at 4 units of the Base currency |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:1000 |
Bonuses | Cashback Promotion |
Customer Support | 24/5 |
FP Markets
Overview
FP Markets, an Australian CFD and forex broker, was established in 2005. Since it has a long history and is regulated by ASIC, FP Markets has been deemed safe.
For fast transaction execution and low requote risk, FP Markets offers variable spreads with fast execution. For RAW and Standard accounts, the broker is able to offer forex spreads of as little as 0.0 pips.
Pros and Cons
| PROS |
Competitive trading fees |
Easy account opening |
Fast processing for deposits and withdrawals |
|
| CONS |
High stock CFD Fees |
Limited range of asset classes |
|
Features
FEATURE | INFORMATION |
Regulation | Australian ASIC, Cypriot CySEC, SCB |
Minimum deposit from | $100 |
Average spread from | 0.5 pips |
Commissions from | $55 monthly commission for IRESS Trader users only |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | $30 Welcome Bonus |
Customer Support | 24/5 |
GO Markets
Overview
You can trade on MetaTrader 4, MetalDesk, MT4 Genesis, Trading Central, Autochartist, and VPS platforms provided by GO Markets.
GO Markets offers a wide variety of markets, including Forex, Indices, Metals, Commodities, and more, with changeable spreads. The spreads are as low as 0.0 pips because they are derived from over 22 different Tier 1 and Tier 2 liquidity sources.
It is possible to trade currencies, indices and commodities with GO Markets, as well as physical gold. GO Markets has iPhone and Android apps that allow you to trade on the go.
Pros and Cons
| PROS |
Low trading fees |
Ultra-fast execution |
Advanced analytical tools |
Low minimum deposit |
| CONS |
|
Limited account options |
Features
FEATURE | INFORMATION |
Regulation | ASIC |
Minimum deposit from | $1 |
Average spread from | 0.0 pips |
Commissions from | None |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | 30% Deposit Bonus |
Customer Support | 24/5 |