Lowest Spread Forex Brokers
Discover the top lowest spread forex brokers for beginners to enhance the trading journey. Compare, choose, and trade smart with these reputable platforms.
Spreads is the most important factor to look for when selecting the forex broker. In the trading world, the main aim of a trader is to earn maximum profit.
However, currency spreads have a direct impact on your trading profit. Therefore, traders look for the lowest spread forex broker to start their trading journey.
8 lowest spread forex broker
Spread is the difference between a currency pair‘s ask and bid price. Many brokers make money entirely or partially through currency spreads.
Meanwhile, zero-spread broker forex platforms make money through commissions or other trading fees. With such a broker, there is no difference between ask and bid price.
Numerous brokers in the market claim to be low or zero-spread forex brokers. As a result, it becomes difficult for newbies or beginners to find credible low-spread brokers.
But worry not; we have organized a detailed study on the different reputed forex broker platform. Here is the list of the top eight and zero-spread brokers
CMC Markets
CMC Markets is a leading platform for trading in forex pairs, cryptocurrencies, stocks, indices, commodities, ETFs, shares, and treasuries.
With over 30 years of experience in providing financial services, the platform is listed on the London Stock Exchange. CMC Market offers over 330 currency pairs to trade.
CMC Markets’ commission and spread are quite competitive to market standards. The spreads for forex pairs start from 0.7 pips, while for other instruments, spreads lie between 0.1 and 0.5 points.
IC Markets
IC Markets is amongst the top and lowest spread forex brokers on the platform. It claims to offer the tightest spread globally. The spreads are starting from as low as 0.1 pips.
The broker is suitable for Meta Trader 4, Meta Trader 5, C traders, and Trading View users. The platform uses top software to make all the information regarding spreads and pricing available to traders.
A trader can go for either a standard or a raw spread trading account. In addition, the minimum and average spreads for all minor, major, and exotic currency pairs are available on the website. So, trading checks the spreads of the financial instruments or pairs they trade in.
IG
IG claims to be the number one platform for CFD trading for beginner and advanced traders. The broker offers exceptional services, including 24/7 customer support, education resources, webinars, access to the trading community, free online courses, and many others.
The spreads for currency pairs start from 0.6 pips, indices from 0.8 pips, and commodities from 0.1 pips. IG does not charge any account opening fees. However, the platform may charge some additional fees based on the account.
Forex.com
If you are looking for a 0 spread forex broker, then forex.com can be the right choice. With a great reputation, the broker is ideal for all sorts of traders.
Forex.com offers over 80 forex pairs, a range of stocks, and futures and options trading instruments. Traders can choose no, fixed, or variable spread account options.
The best thing that differentiates forex.com from other platforms is educational resources. Forex.com has a variety of free trading courses, news and analysis tools, blogs, and training resources. It will help beginners in understanding the dynamic forex market.
Beirman Capital
Beirman Capital is a growing, lowest forex broker platform. Our spreads are starting from as low as 0.1 pips. We offer a range of account options, including raw spreads, stand, and Islamic.
With tight spreads, we provide high liquidity, good leverage, fast order execution, a wide range of products, smooth withdrawal and deposit, and many other facilities.
All information regarding our trading fees, spreads, commissions, and others is available on our site. In addition, we also offer a demo account facility so you first experience and then subscribe to our services.
Saxo Bank
Saxo Bank is the lowest-spread forex broker in the USA. The platform is quite professional and follows strict guidelines to safeguard the interests of traders.
The broker provides three account types: Classic, Platinum, and VIP. The spreads vary based on account type and instrument. You can trade in different financial products in crypto Fx, Fx options, CFDs, Stocks, commodities, ETFs, Futures, Listed options, Mutual Funds, and others.
The spreads for currency trading start from 0.3 pips, and for the other products, you can visit their website. The best part about this platform is its excellent reputation. So, for sure, the broker is quite transparent and reliable when starting your trading journey.
eToro
eToro is a trusted broker platform that is especially useful for automated and copy trading. You can trade over 5000 instruments, including hundreds of cryptocurrencies, forex pairs, and indices.
eToro offers advanced trading tools, top-notch software, and applications for traders. The currency pairs EURUSD, USDJPY, XAUUSD, and AUDUSD spreads start at 0.1 pips. Also, the broker offers high leverage, making it suitable for advanced traders.
XM
The top-tier institutions, including ASIC, CYSEC, FSC, and DFSA, regulate XM. The platform offers over 10,000 instruments to trade with leverage of up to 1:100 and pips starting from 0.6 pips.
The broker claims to charge no hidden fees with the low spreads. In addition, it offers many freebies like trading signals, market outlook, technical analysis, webinars, and videos.
Pro of Low Spreads Brokers
- Low spreads broker is necessary for short-term strategies like day trading and scalping. These traders place more than one trade in a single day. High Spreads can make a big difference to their profit.
- The broker charges traders in many ways, such as account opening, withdrawal, and deposit fees. Competitive spreads make trading cost-effective.
- Generally, spreads prevent traders from placing multiple trades. However, with low spreads, traders can diversify their capital without worrying about the cost.
- Low spreads make beginners start trading. More people, more volume, and liquidity that is ultimately good for the entire market
Cons of Low Spreads Brokers
- Generally, with zero spreads forex brokers, there is a chance of hidden fees. Such a platform claims to charge no spreads, but it is just a trick to fool innocent traders.
- In trading, you need a broker at every step of your journey. However, generally, with low-spread brokers, the quality of services is poor.
- While subscribing to a low-spread broker, must check the regulations first. Sometimes the reason for low spreads or commissions is a lack of proper regulations and licenses.
Wrapping Up
We have a detailed study of the top lowest spreads forex brokers with their key features and services. You can choose any one of them that suits your needs.
However, one thing to remember is that searching for a low or zero-spread forex broker is good. But, choosing a broker just because of low spread is not a great idea.
Many brokers lure traders with low spreads and charge fees in the form of commissions or additional fees. In addition, they provide limited features or services. So, with spreads, a trader needs to take care of several other things while choosing a forex broker.
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