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Profit is central to a trader’s choice of broker. Wide spreads can eat into your profit, which is one reason why both beginners and experienced traders often choose low-spread Forex brokers.
However, there are advantages and disadvantages to using brokers with this profile. Of course, these brokers have other sources of profit to compensate for their low spreads. Additionally, low-spread Forex brokers might not suit every trader. In this guide, we’ll explain how low-spread brokers operate and generate revenue, and guide you in selecting an appropriate broker based on your individual trading needs.
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Broker | Visit Broker Website | Account Name | Trading Cost Raw Spread Account: Total trading cost at the time of last update, for 1 lot of EUR/USD. Includes spread and commission. | Min. Deposit The minimum deposit required to trade using the selected account | Trading Commission | Compare | ||
---|---|---|---|---|---|---|---|---|
cTrader Razor | USD 7 | USD 0 | 6 USD / lot | 0.10 pips | ||||
Pro Raw Spread MT4 | USD 7 | USD 200 | 7 USD / lot | 0 pips | ||||
RAW | USD 6 | AUD 100 | 6 USD / lot | 0 pips | ||||
Zero | USD 7 | USD 0 | 6 USD / lot | 0.10 pips | ||||
XM Ultra Low | USD 1 | USD 5 | Spread Only | 0.60 pips | ||||
Raw | USD 7.60 | AUD 100 | 7 USD / lot | 0.06 pips | ||||
RAW - MetaTrader | USD 7.20 | USD 200 | 7 USD / lot | 0.02 pips | ||||
Raw | USD 7 | USD 100 | 6 USD/lot | 0.10 pips | ||||
Zero | USD 4.50 | AUD 0 | 4.5 USD/lot | 0 pips |
Find Your Ideal Forex Broker
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
1000:1
Pepperstone’s low-cost ECN trading service, fast trade execution, and range of third-party trading platforms have made it popular amongst experienced traders and serious beginners worldwide. More experienced traders who rely on scalping and bots for automated trading will appreciate that most trades on both Pepperstone’s accounts are executed in less than 30ms. With its commitment to transparency, trader education, and excellent customer service, Pepperstone consistently ranks among the best brokers for beginner and experienced traders.
Pepperstone’s Razor account offers raw spreads starting from 0.0 pips on EUR/USD, with commission at just $3.50 per side per lot.
Orders are filled directly with deep liquidity providers, ensuring lower spreads even during volatility.
Average execution speeds are under 30ms — crucial for scalping and EA trading.
Traders can optimize low spread strategies across various platforms with depth of market visibility.
Pepperstone focuses on trading conditions rather than promotions, which may deter new traders seeking incentives.
Not ideal for absolute beginners with ultra-low capital trying to practice on live markets.
Pepperstone | Best for: Filipino scalpers and EA users looking for ultra-low spreads with fast execution
FxScouts
0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
Exness provides 0.0 pip spreads with just $3.50 commission per side, and no spread widening during major news if trading conditions are met.
Filipino traders can unlock unlimited leverage after basic requirements — ideal for low-capital high-frequency trades.
Exness offers 24/7 instant withdrawals including to GCash and local bank accounts, unmatched in speed.
Over 100+ FX pairs, cryptos, indices, and stocks with spreads as low as institutional level on Raw and Zero accounts.
Requires trading 5 lots and no news trading — can limit true beginners from accessing full benefits immediately.
No in-depth guided learning paths like competitors for those new to forex.
Exness | Best for: Filipino traders wanting flexible leverage and variable spreads with instant withdrawals
FxScouts
0.0 pips
CMA, FSA-Seychelles, FSC, FSCA, ASIC, CySEC
AUD 100
TradingView, cTrader, MT5, MT4
30:1
FP Markets is an excellent choice for traders seeking a competitive trading environment with low trading fees and an advanced range of trading tools and platforms. FP Markets’ intuitive Trading App and consistently high-quality customer service further enhance its appeal.
Spreads from 0.0 pips with commissions of $3 per side — among the lowest total trading costs in the industry.
FP Markets uses NY4 Equinix servers — suitable for VPS hosting and latency-sensitive strategies.
Enhance technical analysis with Autochartist integration on tight-spread ECN pricing.
Experienced traders can access indices, FX, crypto, and equities on an institutional-grade platform.
Only available outside the standard MT4/MT5 framework and may be too advanced for beginners.
Focus is on tight ECN conditions — not suited for those wanting deposit promotions.
FP Markets | Best for: Professional Filipino traders seeking ECN conditions and tight spreads with low commission
FxScouts
0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
A prominent international broker, HFM facilitates rapid and free deposits and withdrawals and is a great choice for traders who value competitive, cost-effective trading conditions, advanced tools, and multiple platform options.
Offers tight spreads starting from 0.0 pips with a $6 commission per round lot — suitable for scalping.
100% Supercharged Bonus, Loyalty Program, and Rescue Bonus for capital boosts and retention.
One of the most beginner-accessible brokers with low entry cost and educational webinars weekly.
Offers regional reliability and investor fund protection for Filipino traders.
Only MT4/MT5 available, no cTrader or custom mobile app for pro users.
Unless using Zero account, spreads can be higher than competitors during volatility.
HFM | Best for: Filipino traders looking for low spread options with accessible deposit sizes and promotions
FxScouts
0.6 pips
DFSA, FSC, ASIC, CySEC
USD 5
MT5, MT4
500:1
Commission-free trading with tight spreads for majors on Ultra-Low accounts
Access to 0.0 pip spreads with a $3.5 commission per side per lot for experienced traders
Free webinars in English and Tagalog make XM an excellent choice for Filipino beginners
Includes $30 no-deposit bonus and a loyalty program with redeemable points
Leverage capped at 1:500 on Zero account, compared to 1:1000 on other accounts
Some Filipino users may not qualify based on regulatory region
XM | Best for: Filipino traders who want a combination of low spreads and educational support
FxScouts
The spread is the difference between the broker’s sell price and buy price when trading a Forex pair.
In other words, the spread is the difference between the bid price (the price at which you can sell) and the ask price (the price at which you can buy). Brokers charge spreads as a fee for enabling the trades.
When learning to trade Forex, the spread is one of the first concepts you need to grasp. It affects your trading costs, which impacts your profit.
Spread values can fluctuate a lot. Factors like the currency pair you are trading, the time of day, and the economic conditions that surround that pair can change your spread.
Cost Reduction: Low spreads can help traders to reduce their trading costs. Each time a trade is executed, the trader has to overcome the spread cost to get into a profitable position. The lower the spread, the less the price needs to move in the trader’s favour before they start to make a profit, and the more the price can move against the trader before they start to incur a loss.
Higher Frequency Trading: Traders, especially those using high-frequency trading strategies like scalping and day trading, must enter and exit the markets frequently. Lower spreads mean they pay less to execute these trades.
Increased Potential Profits: When the spread is lower, the distance to a profitable trade decreases. This can potentially increase a trader’s profitability, especially in volatile markets.
In the world of Forex trading and other types of investment, brokers typically earn money in one of two ways: through spreads and commissions.
A spread is the difference between the buying price and the selling price of a financial instrument. The spread is essentially the broker’s profit on each trade a trader makes.
On the other hand, a commission is a fee that a broker charges for its services. This is generally a flat fee per trade or a percentage of the total volume of the trade.
Now, let’s consider brokers who offer low spreads. These brokers essentially offer to execute trades at prices very close to the market price. This can be attractive to traders because it reduces their trading costs. However, because these brokers make less money from the spread, they may charge a commission to compensate for the lower profit margins.
The commission can be seen as a fee for the broker’s service of facilitating the trade. For a broker offering low or even zero spreads, the commission may be their primary source of income.
Each broker is unique, but some main features distinguish low-spread Forex brokers.
Lower Transaction Costs: The spread is the difference between the buy price and the sell price for a particular currency pair. The lower it is, the easier traders can profit from a transaction. This results in lower transaction costs for the trader, especially for those engaged in high-frequency trading, such as day traders or scalpers and can increase the net profit from each trade.
Transparent Pricing: Low spreads coupled with a commission-based pricing model tend to be more transparent. The broker makes money from the commission, and the spreads are closer to the underlying market prices. This can provide a clearer view of the market conditions and facilitate better trading decisions.
There are, of course, some downsides to low spreads. The most important disadvantages to using low-spread Forex brokers are the following:
Commissions Can Add Up: If you are a high-frequency trader, commission fees might get expensive as they add up. In these cases, it might be better to go for a higher spread with no commission.
Complex Fee Structure: Understanding and calculating costs can be more complex with a low spread and commission model. Traders need to consider both the spread and the commission in their cost analysis, which can be confusing, particularly for novice traders.
Whether a low spread and commission model is advantageous depends largely on the trader’s strategy and trading frequency. Each trader must understand their own trading habits, calculate their potential costs under different pricing models, and choose the broker that offers the most cost-effective solution for their specific needs.
Fixed spread brokers offer spreads that do not change, no matter the market conditions, whereas variable spreads could be lower, but fluctuate throughout the trading day.
In Forex trading, the difference between fixed spreads and variable spreads is important when deciding which broker to trade with. Here’s a breakdown of the main differences:
Consistency: Fixed spreads remain the same no matter the market conditions.
Predictability: Since these spreads don’t depend on the markets, they are predictable for traders. And predictable often means safer.
Market Makers: Fixed spreads are usually offered by market makers, who set both the bid and the ask prices for their clients, taking the opposite side (or the counterparty) of their trades. This means that when the trader wins, the broker loses, and vice versa.
Higher Costs During Low Volatility: While fixed spreads provide stability, when there is low market volatility, they may be higher on average. This leads to potentially higher trading costs.
Market Conditions: Variable spreads fluctuate based on market conditions, including liquidity and volatility. This means the spread can be very low during times of high liquidity but can widen significantly during major economic announcements or market uncertainty.
Lower Costs Potentially: During periods of high liquidity, variable spreads can be lower than fixed spreads, potentially reducing trading costs.
ECN/STP Brokers: Variable spreads are often associated with ECN (Electronic Communication Network) or STP (straight-through processing) brokers, who pass the orders directly to liquidity providers without a dealing desk. This means traders are getting real market prices.
The choice between fixed and variable spreads depends on a trader’s strategy, trading style, and risk tolerance. Fixed spreads offer predictability and simplicity, which can be beneficial for beginners or those with straightforward strategies. Variable spreads, on the other hand, can offer lower costs under normal market conditions and are preferred by traders who can manage the risks associated with market volatility.
What traders should know about low spreads.
In the world of Forex trading, a spread is considered low if it’s close to 0.0 pips. However, what constitutes a ‘low’ spread can depend on the currency pair being traded. For major currency pairs like EUR/USD, a low spread is typically anything under 1 pip. For less liquid currency pairs like the minors or exotics like the USD/ZAR, spreads are usually considerably wider.
Commission rates can vary widely among Forex brokers, but a low commission is typically considered to be around 0.1% – 0.3% of the trade volume. In terms of fixed commissions, which are more common in ECN or STP brokers, anything around $6 – $10 per lot traded (100,000 units of currency) could be considered low.
Yes, some brokers offer zero-spread accounts. Zero-spread Forex brokers offer trading accounts where a currency pair’s bid and ask price are the same. This means there is no difference between the bid price and the ask price of a currency pair. However, it’s essential to note that while the spread is zero, these brokers often compensate by charging a commission on trades or using other fee structures. Therefore, traders must understand the overall cost of trading, not just the spread, before choosing a broker.
While low-spread accounts can save costs for high-volume traders, they might not be as beneficial for less active traders. This is because the commission costs could outweigh the benefits of low spreads for traders who don’t trade frequently.
The broker with the tightest spread is not constant, as spreads fluctuate based on market conditions and the broker’s policies. However, brokers that consistently offer tight spreads often operate using an Electronic Communication Network (ECN) or Straight Through Processing (STP) model.
While it is technically possible to trade Forex without a broker, it’s not practical for most individuals. Brokers provide access to the trading platforms and the liquidity necessary to trade efficiently in the Forex market.
A standard account typically includes all trading costs within the spread. This means you won’t pay a separate commission on your trades. On the other hand, a raw spread account usually offers spreads close to zero, with brokers charging a separate commission on each trade. The choice between the two often depends on the trader’s strategy and volume of trades.
The most heavily traded pairs, such as the EUR/USD, GBP/USD and USD/JPY, normally have the lowest spreads, while an emerging-market currency paired with the USD, such as the USD/ZAR, will have a wider spread. In other words, the more liquid the market, the narrower the spread. That’s because the high volumes traded generate lots of profit for brokers, even though the profit margins might be narrow.
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