Low spread forex brokers are more popular among scalping traders. Normally scalping traders are dealing with multiple deals in a day. Because of that their commission is raised up to hundreds of pips in a single day.
If broker provide low spread, it reduces the risk of financial loss. As a trader, your main purpose should be to buy low and sell high. One pip or even a half-pip, which doesn’t sound much, consider as low spread. Traders can make the difference between a profitable trading strategy and an unprofitable one, based on that.
Spread is the difference between the buying and the selling price of a currency pair.
Depending on brokers location, spread is varying for different currency pairs. So, our suggestion is to check the spread value for all pairs instead of only EUR/USD. This is very much possible to have the lowest spread value for different forex brokers for different pairs.
Here is a list of brokers who offer low spreads. The presented brokers provide either low fixed or a variable spread with very attractive minimum and typical values.
Unfortunately, lowest spreads sometimes require high-deposit accounts.
|Title||Minimum deposit||Min.position size|
|City Index (ex-FX Solutions)||$250||0.01|
Top Forex Brokers with Low Spreads
These days, asset trading has become a huge financial market that happens around the world. Apart from being profitable, it also gives a big challenge for anyone who wants to invest a huge amount of money. Foreign Exchange or Forex is one of the most crowded asset markets today, in which people buy or sell currencies. One of the tricks to get the smallest loss in Forex is by making the smallest spread possible, even though it usually requires a big deposit. However, your ability also depends on your broker. Therefore, it is important to choose a Forex broker that offers low spreads. Please find below details for best 5 Lowest forex Brokers.
HotForex founded in 2010 as HF Markets Group. They are a MetaTrader-only broker. The spreads at HotForex are in the form of fixed and floating spreads. HotForex is asked $20,000 for VIP Account and provides variable spreads as low as zero pips. They also offer a specialized fixed spread account for scalpers and automated traders that equates to Inter-bank spread prices. HotForex offers 1:400 leverage for AUTO Trading Account.
Forex Time or FXTM was established in 2012 in Cyprus and has been operating worldwide, including in U.K., Singapore, China, and many others. FXTM offers seven different accounts types. It offers 1.3 pips for its standard account, which can be opened with $100 only. FXTM has commission-based (ECN) accounts. The commission is $4 per 100,000 units. They have spreads of 0.6 pips on the EUR/USD pair. Minimum deposit for FXTM Pro account is $25,000.
FxPro founded in 2006. They have executed more than 150 million orders. In FxPro MT4, there are variable or fixed spreads. cTrader users have to pay a commission of $45 per million USD. The average spreads of EUR/USD pair are 0.3 pips, where for EUR/JPY pair, it is 0.4 pips. FxPro Markets account has minimum deposite of $500 to open an account. Traders are qualified as premium accounts if they invest minimum of $50,000.
XM founded in 2009. 99.35% of orders in XM get executed in less than 1 second. XM also provides demo accounts with $100,000 virtual currency. In XM Zero account, average spreads on the EUR/USD is 0.1 pips. Also, for Micro and Standard account spread are as low as 1 pip. Their Micro account has a contract size of 1000 and leverage of 1:1 to 1:888. Micro and Standard account have a minimum deposit requirement of $5 for electronic funding.
easyMarkets founded in 2001 as the trade name of “easy-forex”. They have fixed spreads and the value varies by account status and asset type. In VIP account, they have 1.8 pip for most of the currency pairs. EUR/USD Pair has extreme tight spread which is 0.00018. But minimum deposit of VIP account is $10,000. The maximum leverage offered by easyMarkets is 1:400.
The low Spread forex broker is always recommended for traders. But in some cases, low spread brokers have some lack of support or educational materials. The spread is the source of profit for all forex brokers. Furthermore, low spread trading is more profitable for traders. But keep in mind that sometimes low spread brokers much comes with some hidden costs.
We suggest, before choosing a low spread forex broker always keep in mind the commission and the review of the brokers.