Low Spread Forex Brokers UK Cheapest Platforms Revealed

AvaTrade, with its fixed spreads, offers a point of difference from most other brokers as they offer variable spreads. For this reason, AvaTrade is a good option if you are new to the market and are concerned about dramatic changes in spreads due to market volatility. Choosing a fixed spread account does mean your spreads will be wider than ECN Pricing accounts and even standard accounts but provide are less risky. Like a standard account, a fixed spread account contains no commission charges. This account has a commission rate charge on top of currency spreads which are lower compared to the standard account. The account type offers straight-through-processing to aggregate across at least 22 tier-one liquidity.

FxPro will charge no commissions for CFD trading on its MT4 and MT5 account types. However, UK-based clients trading Forex currency pairs on the FxPro cTrader account will be charged $4.5 per side for every 1 standard lot traded. Click the link below to open your FxPro demo account, but be prepared to follow the same standard process that comes with a live account.

Active Trader Account for Spread Betting

To add, seven different cryptocurrencies are directly tradeable through the AvaTrade platform without any commission, bank fees, or deposit fees. Established in 2006 AvaTrade is a popular forex broker regulated by recognized financial authorities. It is considered an all-in-one platform as AvaTrade users can trade forex, CFDs, and cryptocurrencies with zero commission. For you to be a successful trader, it is important for you to be proficient in either technical or fundamental analysis.

Like the standard account, Pepperstone offers some of the lowest average spreads in March 2023 on the Razor account. To complement these low spreads, Pepperstone also has the fastest execution speed based on testing in London. Our tests showed the market order execution speed https://xcritical.com/ was just 85 milliseconds with only FP Markets being under the 100ms mark for the UK forex brokers. Likewise, as retail investing increases in popularity, unethical individuals may attempt to profit illegally by posing as legitimate trading platforms or investment advisors.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. While it’s nice to avoid fees, a zero spread account can still end up costing you a per-trade commission, and even worse — spreads can potentially widen in a zero spread account even if it is commission-free. ForexTime is best known as a high-leverage forex broker but the final amount available depends on the location of the trader. At Oanda, there are no deposit fees, but UK clients can incur a withdrawal fee of GBP 10 for the first withdrawal processed within a calendar and GBP 20 for any subsequent withdrawals.

Key to Markets

To compare FxPro’s variable spreads with top ECN and STP broker’s like XTB, HotForex, Forex.com, City Index, FXTM and Alpari, you can find a full review of the lowest spreads here. Trades are executed at FxPro’s Equinix Data Centres in either Amsterdam or London, depending on the trading platform you are using. The broker’s cross-fibre connection type of brokers with top-tier liquidity providers allows for ultra-fast execution speeds that average less than 11.06 ms. Even the savviest forex traders can benefit from new information, while novices may need more help navigating the more complex features of some accounts. Trading.com offers 71 pairs, including all the major, minor and exotic combinations.

You can also filter among traders who have had over a certain percentage of gains in their portfolio, or those who only trade a particular asset. This will allow you to put your forex portfolio on autopilot as you copy someone with a higher degree of experience than you. Now that you have seen the list of some low spread forex brokers in the industry, below is the detailed review of the brokers on the list. Most of these forex brokers offer demo accounts that can be used either as practice accounts, or risk-free environments to test and back-test trading strategies. With FXTM, traders can expect competitive trading conditions, user-friendly trading platforms available across several devices, and a range of useful educational materials for beginner and advanced traders. Exness is known for its tailor-made solutions and financial services alongside a plethora of investing opportunities.

What broker has the lowest commissions?

It would seem logical for traders to choose a broker that offers the lowest spreads from a cost-effective point of view. However, this is not the only reason why traders consider brokers that offer low spreads. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. IC Markets is an excellent forex broker for scalping, and provides zero spreads via its Raw Spread Account.

In this low spread forex article, we’ll take a look at all the best forex brokers with low spread and their key features as well as things you should know about low spread forex brokers scalping. The brokers discussed in this article are the best forex brokers that offer the lowest spreads. We have compiled a comprehensive list of the best forex brokers who offer the lowest spreads in the industry. Depending on your strategy and trading needs, a zero spread account might not be good for you if certain order types or execution methods are not available. The key is knowing what the average spreads are, and whether there are any per-trade commissions — this allows you to calculate the effective spread.

• When it comes to the variety of equities, AvaTrade offers forex plus a wide range of CFD trading stocks, bonds, ETFs, commodities, and indices.
• That said, it’s understandable that spreads are more important to many forex traders so we revised the list giving the largest weighing to this trading cost.
• You can trade both fixed and variable spreads, using a mixture of trading platforms and execution methods.
• For those who like to get by with a little help from friends and fellow investors when devising a trading strategy, eToro may be the best of the lowest spread US forex brokers.
• For many traders, spreads more than fees determine whether it makes economic sense to trade.
• FxPro will charge no commissions for CFD trading on its MT4 and MT5 account types.

FBS offers the trade of a vast number of instruments and offers both professional and beginner traders competitive trading conditions. Blueberry Markets is a well-regulated ECN and STP broker based in Australia. With Blueberry Markets, traders are offered a choice between more than 350 financial instruments and access to the powerful, popular MetaTrader trading platforms.

In this guide, we review some low spread forex brokers that you can use in the UK during 2022. No, forex trading is conducted from within a brokerage account, which provides you a certain degree of leverage , along with access to a trading platform and a range of currency pairs. You should always choose trusted forex brokers that hold proper regulatory licenses to avoid becoming a victim of scams. Pepperstone offers the choice of the three most popular forex trading platforms. If you have a cTrader Razor account, then Pepperstone also provides you with their latest charting tool platform, TradingView. The broker has the most awards based on their customer service including accolades by Investment Trends overall several years based on actual traders rating different brokers.

Libertex – Popular Forex Trading App That Offers Tight Spreads

That is why it is important to only trust the average spreads to determine the true cost of a broker claiming to offer zero-pip spreads. A zero spread implies there is no difference in pips between the bid price and ask price; they are exactly the same price when the spread is 0. Swaps fees mean you will either be charged interest costs or earn interest on your open positions. Whether you are debited or credited will depend on factors such as the price movement of the currency pair, the interest rates in each country of the currency traded, the swaps points of the broker’s counterparty. Regardless of which account you select, you will have access to Pepperstone’s entire range of derivative products, including forex, stocks, indices and commodities.

A forex spread is one of the many ways in which a forex brokerage platform makes its profits. The difference between these two prices is called the spread, and it is how exchanges make their money. FXDD is a Malta and Mauritius-based ECN and Market Maker forex and CFD broker and a popular name in the industry. With FXDD, traders can expect a plethora of trading opportunities and a selection of useful trading tools that will help traders refine their trading and add a competitive edge. OctaFX also offers traders a wide range of tradable instruments, competitive trading and non-trading fees, useful trading tools, educational sources, and dedicated customer support. When trading with HFM, traders can expect a large range of tradable instruments, access to reliable trading platforms, and a safe trading environment where traders can expect security and safety of funds.

The average spreads that traders can expect are competitive and in ideal market conditions, they start from as low as 0.0 pips. Commissions charged start from as little as $1, and traders can expect an industry-standard minimum deposit of $100. Tickmill provides the tightest spreads (averaging 0.13 pips on the EUR/USD during August) after factoring in trading costs (i.e., any commissions). CMC Markets follows closely in second place, with its competitive FX Active pricing. FX Active features zero-pip spreads on select major currency pairs, along with low per-trade commissions.

Our Verdict on IG

On the other hand, OANDA stands out from other low-spread US forex brokers for its customer service. In addition, account holders benefit from 24/7 support in multiple languages. For many traders, spreads more than fees determine whether it makes economic sense to trade. Key to Markets is a well-regulated ECN online forex broker that has a decent selection of financial instruments that can be traded through powerful trading platforms such as MetaTrader 4 and FIX API. When you compare accounts offered by the best forex brokers for zero spread trading, spreads will still vary in most cases, and you may incur other trading costs such as commissions.

FxPro is a hybrid forex broker that utilises a mix of market maker and no dealing desk execution methods. The multi-regulated broker offers forex and CFD trading brokerage services to its international client base and spread betting service to UK traders. If you are a beginner trader, social trading with a fixed spread broker will give you a soft entry into the world of forex and CFD trading. Four different software options are available for social copy trading, including a proprietary AvaTrade account mirroring service known as AvaSocial. As well as forex markets, AvaTrade provides you access to a diverse selection of CFD products.

Why are low spreads important in forex trading?

Pepperstone’s low trading costs available on its Razor account help to round out its overall offering, and cement its status as the best MetaTrader broker in the U.K. Like any financial markets regulator, the FCA’s role is to protect investors and to uphold market integrity within the U.K. The FCA is a strict regulator with stringent rules and regulations, which has contributed to our ranking of the FCA as a Tier-1 regulatory agency. Learn more about regulators and our tiered ranking system by visiting our Trust Score page. CMC Markets is regulated by some of the most important global financial regulators, including five Tier-1 jurisdictions. CMC Markets is also publicly traded – to become publicly traded, brokers must make numerous public disclosures for compliance purposes.

What Are Forex Spreads?

Retail traders and institutional investors can expect competitive and variable spreads from as low as 0.0 pips and commissions from $3.5 per lot per side. IC Markets is multi-regulated by trusted market regulators and offers retail traders a choice in trading accounts with commission-free trading options available. Blueberry Markets offers ECN solutions, commission-free trading options, and reliable trade execution speeds. The variable spreads that traders can expect are as low as 0.0 pips, with commission charges from $7 round turn.

We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. While many brokers advertise zero spreads, it can be misleading to look only at the minimum spread or the lowest spread of the day — it’s possible that the spread is worse the majority of the time. You can see our best brokers for spot trading on the best regulated forex brokers in USA page.

The self-identified ‘world’s largest social investment community has over 11 million users and supports social and copy trading. While the commission account is best for retail traders, the STP Pro account lives up to its name, with a $25,000 minimum deposit but gives you discounts using a volume-based commission. These commissions range from $80 ($160 round-turn) per $100M to $30 per ($60 round-turn) per $1 billion. Interestingly on a pro-rata basis (I.E. if your trade in 100,000 lots), unless you trade 1B the previous month, commissions are lower with the Commission account. Professionals and novices alike praise IG for its first-in-class trading platforms, available for web, mobile and tablet. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers.