Best Forex Brokers with Lowest Spreads: Zero-Spread FX Brokers [2024 Update]

best forex brokers lowest spreads

Who doesn’t love the thrill of big profits while keeping costs low? That’s the sweet spot in Forex trading, and it’s all about finding brokers with razor-thin spreads.

And that’s exactly what we did today in our list of the best Forex brokers with the lowest spreads.

Top of the list? IG Forex Broker. Known for its competitive edge in low spreads, IG has won the hearts of traders, both rookies and veterans. But the choices don’t end there. We’ve got an entire lineup of brokers who can help you make the most out of every trade.

Sounds good? Let’s get started.

Best Forex Brokers With Low Spreads

🥇 Best overall IG Forex Broker
🎁 Top pick for social trading eToro
↗️ Lowest spreads of major pairs Plus500
🤑 No hidden spreads or markups Interactive Brokers
🔝 300+ pairs to trade with low spreads CMC Markets
⬆️ Top pick for low-spread range trading Saxo Bank
🚀 Best for high-leverage trading Public
💸 Lowest fixed spreads XTB

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Other than low spreads, our top picks have something unique for all their users. Want to find out exactly what? Keep reading for our individual reviews of the best Forex brokers with the lowest spreads.

1. IG Forex Brokers – Lowest Spread Forex Broker Overall

IG Forex Brokers

  • Minimum Deposit: $0 for bank transfers, $50 for cards
  • Fees: 0%
  • Spreads From (EUR/USD): 0.6 pips
  • Number of Currency Pairs: 80+
  • Regulators: FCA, FINMA, ASIC, & more
  • Year established: 1974
  • Demo: Yes
  • Overall Rating: 4.95/5

You’ll struggle to find a low spread Forex broker with a better reputation than IG – after all, it’s been around since 1974! Let’s see why it is our No. 1 pick today.

Spreads & Fees: 5/5

IG has built its business on delivering low trading costs, making it a desirable trading platform for all kinds of investors. It doesn’t charge any commission, so you just need to pay the spread when placing a trade.

The minimum spread on a major currency pair like EUR/USD will typically be around 0.6 pips, and the average is about 1.2 pips. So, if you are after the best US Forex brokers with lowest spreads, look no further than IG!

Range of Trading Markets: 5/5

There are more than 80 currency pairs to trade at IG, which is quite extensive. You also have access to a huge range of 17,000+ CFDs, including for cryptocurrencies. There really isn’t any major global market that you don’t have access to here!

Not confident enough in your skills? No worries – you can take advantage of its social trading capabilities, which is an excellent option for beginners to start trading.

User Experience: 4.9/5

IG’s trading platform has won many awards over the years due to the excellent user experience it offers. The average execution speed of trades is just 17ms, so you won’t face any lag when getting your trades placed – if you want to try out short-term trading strategies, this can prove to be a very handy feature.

You also have the option of going with third-party trading platforms like MetaTrader if you prefer something that is a bit more standardized across the Forex broker sector.

Then, there are the excellent market research resources that you have access to. These come both in-house and from reputable third parties. Anyone looking to expand their Forex trading knowledge can dive into the comprehensive education center.

Reputation: 5/5

IG has been in business since 1974 and works with Forex traders all across the world these days. It has won all sorts of awards over the years for its quality offering and is a publicly listed company, so it is subject to especially strict oversight.

As the top Forex broker with lowest spread, it has strong levels of regulatory capital and has made a number of high-profile acquisitions to bolster its offering in the US and overseas.

2. eToro – Best Low Spread Forex Broker for Social Trading

eToro Trading

  • Minimum Deposit: $0 for bank transfers, $50 for cards
  • Fees: 0%
  • Spreads From (EUR/USD): 0.8 pips
  • Number of Currency Pairs: 40+
  • Regulators: FCA, CySEC, & more
  • Year established: 2007
  • Demo: Yes
  • Overall Rating: 4.9/5

Not many of the lowest spread Forex brokers will be as user-friendly as eToro – especially when it comes to copy trading.

The interface makes it extremely easy to find what you’re looking for, and it regularly releases exciting new features that add to the overall experience.

Spreads & Fees: 4.9/5

eToro doesn’t charge any commission and even allows users to buy fractional shares.

You’ll be looking at an average spread for a EUR/USD currency pair of 1.0 pips. It also doesn’t charge any trading fees for its copy trading, which is not usually the case with other Forex low spread brokers.

Range of Trading Markets: 4.8/5

There are over 40 currency pairs that you can trade at eToro – it might not seem that much, but after taking a closer look at it, we found all the most popular pairs. And yes, you can also trade exotic currency pairs if that’s what you are after!

In total, there are over 3,000 instruments available here, covering different currency pairs, ETFs, and CFDs.

It is one of the first US brokers to offer users access to spot Bitcoin ETFs.

User Experience: 5/5

Beginners will really enjoy what eToro brings to the table. Its platform is very clear, and the color scheme makes all the different options stand out. You can start your journey with a $100,000 virtual portfolio if you want to learn the ropes – simply open the demo account, and you are good to go.

The apps for desktop and mobile offer all sorts of exciting features and tools. This means that experienced Forex traders will also enjoy what eToro provides, not just the newbies. So, no matter your experience level, there are zero spread trading accounts for everyone here.

Reputation: 5/5

eToro has a good track record worldwide, accepting customers from more than 100 different countries. It uses leading secure systems to protect the data and funds of the customers.

All client funds are held in segregated bank accounts of reputable institutions, ensuring that even if the broker goes out of the business, which is highly unlikely, your funds will be stored safely for you.

3. Plus500 – Lowest Forex Spreads for Major Currency Pairs

Plus 500 Traders

  • Minimum Deposit: $100
  • Fees: 0%
  • Spreads From (EUR/USD): 0.8 pips
  • Number of Currency Pairs: 70+
  • Regulators: FCA, ASIC, FMA, and more
  • Year established: 2008
  • Demo: Yes
  • Overall Rating: 4.85/5

Plus500 has established itself at the forefront of the Forex trading sector over the years. With excellent coverage of major currency pairs and some of the lowest spreads for them, Plus500 is our No. 3 top pick today.

Spreads & Fees: 5/5

Plus500 is one of the lowest spread Forex brokers in the industry today, allowing you to get access to minuscule charges. For example, the average EUR/USD spread is just 0.8 pips.

Plus500 promises that it won’t charge any commissions on trades and will strive to offer tight spreads across the board, no matter what type of instrument you’re looking at. There aren’t even any hidden fees, such as charges for inactivity or using exclusive data.

Range of Trading Markets: 4.8/5

Plus500 has more than 2,800 instruments for you to check out.

There are opportunities to invest in the most popular stocks around, as well as more than 62 currency pairs. Plus500 offers leverage of up to 1:30 to traders, and all quotes are provided in real time.

User Experience: 5/5

Plus500 has its own proprietary platform that has gradually improved over the years. WebTrader is known for being easy to use thanks to its minimalistic design – and as you might have guessed from its name, there’s no downloading involved – you can use it right from your browser.

Fast and reliable execution is guaranteed here, so you won’t have any issues with trades getting placed at slow speeds. It offers plenty of advanced analytical tools to help you better plan your positions.

The trading platform has a lot of interesting features that aren’t found at too many Forex low spread brokers. One that caught our eye was being able to see the most traded positions on that given day from other Plus500 users. This allows you to analyze trends and get access to a whole host of exclusive data.

Fun fact: Plus500 is also one of the best TradingView Forex brokers online.

Reputation: 4.9/5

Plus500 has been in business since 2008, starting its operations in Israel. It has since expanded across the world and is now one of the biggest Forex brokers around, having a listing on the London Stock Exchange.

4. Interactive Brokers – Lowest Fees of all Low Spread Brokers

Interactive Brokers

  • Minimum Deposit: $100
  • Fees: 0%
  • Spreads From (EUR/USD): 0.2 pips
  • Number of Currency Pairs: 100+
  • Regulators: SEC, FINRA, and more
  • Year established: 1977
  • Demo: Yes
  • Overall Rating: 4.7/5

Interactive Brokers prides itself on having some of the best analysis tools and advanced trading platforms in the Forex broker space – and there are no hidden fees or markups to worry about when you are trading here!

Spreads & Fees: 4.8/5

Interactive Brokers does not charge commissions for some instruments at all. The exact sum that you have to pay depends on the type of account you currently have and the size of your order – so, go with zero spread account for the lowest fees.

You’ll typically avoid commission on ETFs – and, what’s more important, there are no hidden fees or markups to worry about. You’ll know exactly how much you’re required to pay in trading fees before your positions are open.

The margin rates are some of the best in the Forex broker industry. Interactive Brokers also promises very tight spreads, with the EUR/USD spread starting at just 0.2 pips, which beats out the majority of other Forex brokers with low spreads.

Range of Trading Markets: 5/5

Interactive Brokers provides access to every thinkable type of trading instrument across a whole host of global markets. This includes spot gold, mutual funds, bonds, robo-advisors, over 100 currency pairs, and even managed portfolios.

Then, you’ve got access to trendy options like fractional shares trading and cryptocurrency trading. You’ll struggle to find a Forex broker with a better selection of trading options. Users are even able to earn additional income by lending out shares.

User Experience: 4.8/5

Interactive Brokers’ powerful technology for trading allows you to take advantage of lightning-quick execution speeds and access to sophisticated analysis tools. This makes it an easily good fit for more advanced and experienced Forex traders.

You’ve access to a whole assortment of maximizing tools through the various IBKR trading platforms.

Beginners might feel a bit overwhelmed with the array of options, and the trading platforms tend to be highly detailed, so they do require a bit of learning time to get to grips with them.

Reputation: 5/5

Interactive Brokers is a NASDAQ-listed company and has been in business since 1977, so it has a strong track record. This gives users good peace of mind. It has over 2.5 million clients, and there are huge volumes of trades placed on a daily basis.

5. CMC Markets – Most Currency Pairs of all Low Spread FX Brokers

CMC Markets

  • Minimum Deposit: 0
  • Fees: 0%
  • Spreads From (EUR/USD): 0.6 pips
  • Number of Currency Pairs: 330+
  • Regulators: FCA, BaFin, ASIC, and more
  • Year established: 1989
  • Demo: Yes
  • Overall Rating: 4.7/5

Not sure which currency pairs you want to trade? Then you should check out CMC Markets – it covers over 330 Forex pairs!

Spreads & Fees: 4.8/5

You’ll quickly discover that CMC Markets is one of the leading Forex brokers with low spreads. The average spread for EUR/USD is just 0.60 pips, and this level of tight spreads is seen across the board.

CMC Markets has changed its pricing model in recent years, which sees commission added onto certain types of trades. Even after adding this to the spread, you’re still getting competitive pricing at CMC Markets.

Range of Trading Markets: 5/5

A stunning 330 different currency pairs are available to trade at CMC Markets, which outstrips all of the other Forex brokers on this list. Leverage is also available to boost your positions even more.

If you’re strictly looking to trade Forex, it’s hard to look past CMC Markets, as its trading platforms are focused on this type of approach. You’ll also have access to more than 80 indices and 20+ cryptocurrencies, as well as commodities, shares, ETFs, and bonds. We were impressed with the variety of options.

User Experience: 4.9/5

The CMC Markets Next Generation platform allows a lot of personalization options that you won’t get with most other Forex brokers. This allows you to tweak the design to suit your specific needs, which is always welcomed.

It has great offerings for both new traders and more experienced ones. There is a tremendous level of educational resources available, and you can also get access to advanced trading tools and analysis.

If you’d rather go with a more general type of trading platform, then CMC Markets also offers the industry standard MetaTrader 4 to its user base.

Reputation: 5/5

CMC Markets was started in 1989 and currently has a listing on the London Stock Exchange. It’s regulated in numerous major jurisdictions and looks after its users in a huge variety of ways.

How We Rank the Best Low Spread Forex Brokers

When looking at the lowest spread Forex brokers, it isn’t as easy as just seeing which Forex trading platform has the absolute lowest costs. Here are all the benchmarks we used for ranking these brokers:

Spreads & Fees

It’s important to get an idea as to the costs of Forex trading with a given broker. This means getting the low down on all of the trading costs. This includes looking to see if a fixed spread is in place or a variable spread.

In addition to the trading fees, we also considered account fees to assess the full cost of trading.

Range of Trading Markets

Forex traders want to have access to a wide range of different instruments a lot of the time. As well as ensuring that the major currency pairs are catered to, they might also want access to exotic pairs, as well as CFDs and futures.

User Experience

Making sure that you have access to quality trading platforms is important when comparing zero-spread Forex brokers. You want something that is user-friendly while also giving you access to all the tools you could ever need.

Some people will have very specific needs for charting tools and other forms of analysis. Then, you might want to see an in-depth analysis of the current Forex market, as well as having access to an educational section that allows you to learn about every major trading strategy.


Last but not least, it is important that you make sure that the zero spread Forex broker you’re considering has a stellar reputation. This means ensuring that it holds licenses from respected authorities and that it has proper security measures in place to protect client funds at all times.

Why is IG the Best Forex Broker with Lowest Spread?

After going through dozens of different low spread Forex brokers, the one that came out on top in our rankings was IG. There are many reasons why this is our preferred option, some of which are outlined here:

  • Track Record of Success: Having been in business since 1974 and won a tremendous number of awards over the years, IG is highly trusted and has a proven track record of delivering. High-quality user experience.
  • Impressive Selection of Instruments: With over 19,000 different instruments to trade, including over 80 currency pairs, everything you should ever need will be accessible through IG.
  • Quality Trading Platforms: The proprietary IG trading platform has been carefully cultivated over the years and consistently is ranked the best in the market. It’s ideal for both beginner traders and ones who have tons of experience in the space.

Why Should I Use Brokers with Tightest Forex Spreads?

While it makes sense that you should go for the lowest spread Forex brokers, some people might think that they are sacrificing overall quality if they only focus on trading costs. While this is partially true, here are some reasons why zero spread Forex brokers are worth checking out:

  • Save Money: The most obvious answer is that you will be saving on trading costs. This can add up significantly over time, even if the contrast in the Forex trading spreads appears to be quite minimal. It can be the difference between being profitable and making a loss.
  • Greater Transparency: Low spread Forex brokers will be a lot more transparent with their trading costs than many other types of trading platforms. This allows you to have more information when making your trading strategy decisions.
  • More Flexibility: You’ll have a greater range of trading style options open to you when using a zero-spread account. Traders can then take advantage of small changes in price by engaging in day trading and scalping.

What is Spread in Forex Trading?

When you’re on a Forex trading platform, you will see two prices for any given currency pair. There will be the bid price, which is the price at which you will be selling the currency.

Then, the ask is the price at which you’ll be able to purchase the base currency. The spread is the difference between the bid and the ask. This is where no-commission brokers will earn their money.

Spread is measured in pips – which stands for “Percentage in Point,” and represents a very small measure of the change in a currency pair price. For example, let’s say that the price of the EUR/USD pair moves from 1.1050 to 1.1051; this means that its price has increased by 0.0001 USD – this equals 1 pip.

Now, when we talk about the spread in terms of pips, we are referring to how many pips there are between the bid and ask price. For example, if the bid price of EUR/USD is 1.1050 and the ask price is 1.1052, the spread is 2 pips – simple as that!

What is a Good Spread?

This depends on what currency pair you are considering. The more popular pairs like EUR/USD will typically have a smaller difference between the bid and ask, whereas the gap will be much bigger for those pairs that are not frequently traded.

Lowest Spread Forex Brokers: FAQs

What is the Typical Minimum Deposit at a Low Spread Broker?

A lot of the time, you will be able to make a payment of just $10 to your account for trading Forex.

Do Zero Spread Accounts Charge Any Trading Fees?

Brokers need to make money somehow, so if it’s not through the spread, they will do so in other ways, such as charging higher commissions and non-trading fees.

Does Every Forex Broker Charge a Fixed Spread?

The spread structures depend on the given Forex broker. Some charge a variable spread, while others will go for a fixed spread. Then, there are zero spread accounts that you’ll also see.

Comparison of the Top 5 Forex Brokers with Low Spread

There are tons of low and zero-spread Forex brokers in the US today. Not all of them are going to be up to scratch, which is why we have highlighted the five top low spread broker options. Here’s a quick look at the main attributes of each respective low spread broker:

  • IG Forex Broker: This is clearly the leading all-around low spread Forex broker. It has an amazing track record of catering to every need of its customers. IG also has a high-quality trading platform, competitive spreads, and a huge range of trading instruments to choose from.
  • eToro: If you’re a beginner to Forex trading or you just want something very user-friendly, then look no further than eToro. It has competitive spreads, as well as a very popular copy trading section.
  • Plus500: This is another quality option that is trusted by more than 25 million people across the world. It has better spreads than most, while the trading platform has a tremendous range of tools for you to use when deciding on what trades to make.
  • Interactive Brokers: Anyone looking for a massive range of trading instruments, Interactive Brokers has over 100 currency pairs and every other thinkable type of instrument.
  • CMC Markets: Traders who purely focus on Forex will struggle to find a broker with more supported pairs. You’ve in excess of 330 different currency pairs, as well as ultra-low spreads and a good range of trading platform options.

How to Sign Up at a Forex Broker with Low Spreads

If you’re looking to open a low or zero-spread account yourself and start Forex trading, there aren’t too many hurdles to jump through. In just a few minutes, you’ll be fully up and running. Here’s a step-by-step look at what you need to do:

Choose the Best Zero Spread Forex Broker

  • Read through this guide
  • Find a low spread broker that fits your needs
  • Visit the website and look at the account options
  • Decide on the most optimal type of account

Sign-Up for a New Account

  • Choose your preferred zero-spread account
  • We recommend IG Forex broker
  • Enter personal info and contact details
  • Decide on a username and password
  • Agree to the Forex broker’s T&Cs
  • Submit the sign-up form

Make Your Deposit

  • Go to the deposit section
  • Select one of the payment methods
  • Specify the size of your deposit
  • Confirm the transaction

Trade Forex with Tightests Spreads

  • Go to the trading area and choose a platform
  • Filter through the different instruments
  • Decide on a trade you wish to make
  • Specify the size of your trade
  • Confirm this position

Tips to Trade with the Lowest Spreads

Traders will be looking at ways to get the most competitive spreads when looking through the low spread broker options on the foreign exchange market today. Here are some things to watch out for when doing so:

  • Stick With Popular Pairs: You’ll find the lowest spreads for the most liquid currency pairs. The more that people trade a given pair, the lower the difference between the bid and ask price.
  • Focus On Your Preferred Instruments: If you’re comparing different low spread broker options, you should only consider the fixed spread of the pairs that you’ll be trading and not worry about other instruments that are of no interest to you.
  • Trade at Certain Times: The Forex market trading activity varies depending on the time zone. You’ll get the best spreads when you’re trading at times of the day when the volume is at its highest point.

Ready to Sign up at the Best Forex Brokers with Lowest Spreads?

Now that you’ve learned all about the benefits of low or zero spread accounts for Forex trading, you’ll be ready to dive in and get started.

We love everything that IG FX Broker brings to the table, but you also have plenty of other low or zero spread Forex brokers to choose from. There’ll be something out there for every conceivable type of need.

Getting started takes a matter of minutes, so you’ll be getting in on the Forex market action in no time at all. Once you’re trading responsibly, we wish you all of the success in the world.


DISCLAIMER: The information provided in this guide is for educational purposes only. We do not offer financial advice and brokerage services nor recommend readers to buy or sell cryptocurrencies, stocks, or securities. Online trading is risky, so make sure to approach it with caution.