27 ☑️ Best Lowest Spread/Commissions Fees Forex Brokers (2024) - Forex Suggest (2024)

Depending on your trading strategy, your overall investment goals, and your investment budget, you may be seeking the best lowest spread fees Forex Broker which offers a competitive trading environment with low spreads and commission fees.

At the same time, it is important to find a competitive broker that still delivers advanced trading features and access to another tradable instrument to make for the most successful and profitable trades.

Choose your quick section of our best Lowest Fees and Spreads Forex Brokersbelow.

While this may prove a daunting task, considering the huge variety of forex brokers in the industry today, we’ve made things easier with this comprehensive review of the 27 best low spread/commission fee forex brokers.

Here are our 10 Best Lowest Spread/Commissions Fees Forex Brokers.

1. ✔️City Index
2. ✔️OvalX
3. ✔️Swissquote
4. XM
5. Forex.com
6. XTB
7. FXCM
8. Pepperstone
9. Oanda
10. CMC Markets

Let’s get started with the full breakdown of the Forex Lowest Spread/Commissions Fees.

City Index

Overview

U.K. brokerage City Index’s parent company is U.S.-based and publicly traded GAIN Capital Holdings Inc. (NYSE: GCAP). It specializes in CFDs, spread betting, and options in forex, indexes, shares, commodities, bonds, interest rates, and cryptocurrencies.

Minimum and average spreads are competitive, at 0.50 pips minimum and 0.69 pips average for EUR/USD. Indexes list a 0.40 minimum spread on S&P 500 CFD and spread bets but no average spread. Disclosures on other markets are limited to minimum spreads or real-time bid/ask spreads.

The broker offers fixed spreads for many indexes and commodities and variable spreads for forex and other markets, but read the fine print because this categorization isn’t intuitive.

Pros and Cons

Features

OvalX

Overview

OvalX offers a lot of deposit and withdrawals options and they are free of charge. It has also a user-friendly and fast account opening. There are a lot of educational tools of great quality.

Pros and Cons

Features

Swissquote

Overview

Swissquotedoesn’t charge an inactivity fee and you can trade an impressive selection of funds for favorable fees.

On the other hand, trading fees are generally high, including for stocks and ETFs, and there is a fee for withdrawing your money. The fees are built into the spread, 1.6 pips are the average spread cost.

Pros and Cons

Features

XM

Overview

Spreads at XMvary depending on the kind of account opened. It’s possible to open a Micro Account, Standard Account, and XM Zero Account. The minimum spread across all accounts is 0.1 pips, and the average spread for a major pair such as EUR/USD is 0.1 pips.

XM operates a strict “no hidden fees or commission” policy. As such, commission is only given for XM Zero accounts. XM covers all transfer fees and same-day withdrawals are guaranteed.

Pros and Cons

Features

Forex.com

Overview

Forex.com does not charge a fee on forex trades. Instead, they are compensated via the spread. When it comes to some of the largest forex pairs and shares, Forex.com has average spreads. But the broker offers below-average costs for index and commodity CFDs.

The company has four different pricing models. Which one you will fall into will depend on the type of account you hold and the volume you trade. Typical spreads range from 1.9 pips to 0.84 pips.

It’s also worth noting that if you hold a premium account and deposit at least $10,000 while trading 30 standard lots per month, you can receive up to 15% off standard pricing.

Pros and Cons

Features

XTB

Overview

XTB advertises minimum FX spreads of 0.5, and no commission, for “Standard” accounts, and 0.1, with the commission, for “Pro” accounts. This is, by far, the best in the retail FX brokerage space.

XTB Online Trading (XTB) is regulated by theFinancial Conduct Authority(FCA #522157) which is one of the main regulatory agencies in the U.K. and is highly regarded globally for being strict in ensuring that market practices are fair for both individuals and businesses.

Pros and Cons

Features

FXCM

Overview

FXCM’sfees are based on the trading instrument as well as the account that the trader uses.

The Active Trader account is the most popular of its accounts being offered and there are not only lowcommissionrates but also averagespreadswhich offer high volume traders competitive pricing.

Pros and Cons

Features

Pepperstone

Overview

Pepperstonederives most of its fees from tightspreadsand lowcommissions. This presents an exceptional, low-cost environment for traders to develop their portfolios.

Trading fees are competitive. The averagespreadfor the EUR/USD currency pair in its Razor accounts is only 0.13 pips plus acommissionof €7.

Pros and Cons

Features

Oanda

Overview

Oanda charges low CFD and low forex fees. Non-trading fees are low, though the withdrawal fee is quite high for bank transfers. The fees are built into the spread, 1.2 pips are the average spread cost.

Pros and Cons

Features

CMC Markets

Overview

CMC offers attractive minimum spreads for popular products. For example, 0.7 of a point for the EUR/USD and USD/JPY, plus 1 point for the UK’sFTSE 100and Germany’sDax 30. Overall, you can expect typical spreads of 0.8 pips.

This means CMC trading costs are competitive when compared to many other brokers in the industry.

It’s also worth noting, that instead of additional CFD trading costs, customers who spread betor trade CFDs inhigh volumeswith CMC can also benefit from trading rebates.

Pros and Cons

Features

eToro

Overview

eToro’s fees depend on your location and the asset classes traded.

U.S. customers trading cryptocurrencies pay 0.75%-5.0%, depending on the currency being traded.This cost is built into the price at execution and is not transparent.

Non-U.S. customers trading stocks pay no commission for opening or closing a long position. Short sales incur a commission of 0.18% of the value of the trade.

Non-U.S. customers buying assets other than their home currency, such as a U.K. customer buying a U.S. stock, will pay a currency conversion fee.

Pros and Cons

Features

Saxo Bank

Overview

Saxo Bank commissions are predominantly volume-based. For instance, forex fees are usually based on a volume plan where the more you trade, the less commission you pay.

The standard commission is 0.005% but this is only applicable to the first $50 million tradings in a month.

Saxo Bank withdrawal can be done to your bank account or a broker account. The account needs to be in your name. Withdrawal is free of charge

Pros and Cons

Features

Easy Markets

Overview

Commission percentages on Easy Markets are reasonably low for Forex traders and generally hover around the industry average on CFD trades.

Trading costs can vary dependent on the type of account the user opts for, and spreads are fixed across both the web platform and MT4.

Spreads and pricing are transparent and freely available for users to check. Choice of account type can affect the spreads too, though the accounts available to each trader will depend on their geographic location.

Pros and Cons

Features

Plus500

86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Overview

Plus500 has been in operation since 2008 and is a CFD broker which offers the trade in more than 2000 CFD financial instruments. Trades can be executed through the Plus500 proprietary trading platform using the broker’s competitive trading conditions.

Pros and Cons

Features

IG

Overview

Globally, IG’s costs (spreads, commissions, and fees) are very competitive, and that holds true for U.S clients, as well.

The spread is how IG makes money, specifically through customer trades that “cross” thebid/ask spread.

There is a “commission” charge that comes into play when one is trading CFDs but it is added to either side of the market spread. And there is an actual commission for every share-CFD trade.

Additionally, IG (U.K.) charges a premium for guaranteed stop-loss orders that kick in only if that order is triggered, and there are other extras and third-party charges that are clearly documented on the U.K. website.

The minimum spread for themajorson IG’s U.S. platforms starts at 0.8 pips, and the advertised average spread ranges between 0.9 (EUR/USD,USD/JPY) to 5.4 (GBP/CAD).

Pros and Cons

Features

Go Markets

Overview

GO Markets offers raw spreads on GO Plus+ accounts, but charges AUD3 or $2.5 commission per side. All spreads are variable as they are aggregated from over 22 liquidity providers.

A commission of 0.08%, with a $10 minimum is charged when trading Australian share CFDs. Like most brokers, GO Markets takes a fee from the spread, which is the difference between the buy and sells price of an instrument.

Pros and Cons

Features

FP Markets

Overview

FP Markets has low forex fees and non-trading fees and charges no inactivity fee. On the flip side, stock CFD fees are high. The fees are built into the spread, 0.5 is the average spread cost.

As amarket maker,FP Marketsmay have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements.

Market makers typically have a lower minimum deposit, smaller minimum trade requirements, and no commission on trades.

Pros and Cons

Features

Alpari

Overview

Alpari International offers spreads on major currency pairs of just 0.4 pips, which are some of the tightest on the market. The spreads available on trades will depend on the type of account held.

The micro MT4 account offers spreads starting from just 1.7 pips when trading major Forex pairs.

If you choose to open a standard MT4 account, these traders are offered spreads from1.2pips on major Forex pairs. If you are a more experienced trader, the ECN account spreads start at just 0.4 pips for majors.

If you are a professional trader looking to trade individual stocks, you will need to open the ECN Pro account. There is no commission charged on this account, compared to the ECN account which charges $3 per lot round trip.

Pros and Cons

Features

AvaTrade

Overview

Spreads are competitive at AvaTrade, and they are constantly working to reduce them further. Particularly in the crypto market, the firm has made huge strides.

Just recently spreads on cryptocurrency trades were slashed by 50% – but an announcement has revealed they have been trimmed by another third. As brokers gain confidence in the liquidity of the markets, they can be braver with spreads.

Pros and Cons

Features

FXTM

Overview

Commission percentages are relatively low for Forex traders and around the industry average for CFD trades. With ECN account options, spreads can be as low as 0.1 points. With the Standard Account, spreads start a little higher, but remain very competitive.

In this respect, FXTM is a good provider to trade with. Please note thatSpreads are floating and they may increase during specific periods of the day depending on the market conditions.

Pros and Cons

Features

IC Markets

Overview

IC Marketsmakes provision for an offering that includes global Indices CFDs that come withspreadsfrom 0.5 points on 16 different indices.

While traders can trade on zerocommissionacross majormarkets, they can also have a wider view of the equitiesmarket.

Pros and Cons

Features

Exness

Overview

Not only does Exness provide brokerage services that are both stable and reliable, but provision is also made for a comfortable trading environment.

Included in its offering,Exnessprovides traders with tight spreads from 0.1 pips and there are no hidden commission fees involved.

Pros and Cons

Features

HYCM

Overview

HYCM receives its compensation through the market bid/ask spread. The underlying financial instrument and the type of account determine the spreads that traders pay.

The broker obtains the data from reputable third-party sources, who obtain the data directly from exchange feeds.

Pros and Cons

Features

HFM

Overview

For low-cost trading at HFM, you can open a ZERO Spread account with a minimum opening deposit of just USD 100, it is suitable for all traders, but has more potential for scalpers, high-volume traders, and traders with Expert Advisors.

You will receive RAW, Super-TightHFM spreadswith a HFM ZERO Spreadaccount; it offers a highly transparent commission-based structure and commissions starting at a low USD 0.04 per 1K lot.

Pros and Cons

Features

Dukascopy

Overview

Dukascopy scores fairly well when it comes to living spreads and trading fees. Average spreads for popular currency pairs, such as the EUR/USD and USD/JPY are around 0.3/0.4 pips.

A default commission rate of 0.7 pips brings the average total trading cost to approximately one pip, which is similar to other providers.

With that said, the broker does tier its spreads and commissions according to trading volume, so active users benefit from discounts. For example, overnight rollover fees are reduced for frequent traders with swap rates published on the ‘Overnight Policy’ page

Pros and Cons

Features

FxPro

Overview

FxPro offers commission-free trading on its MT4, MT5, and FxPro Trading Platforms with just spreads and swaps payable and with a mark-up on spreads for Forex and Metals.

cTrader users are charged $45 per $1 million traded when opening and closing a position on FX pairs and Spot Metals.

Pros and Cons

Features

JustForex

Overview

The maximum leverage on some tradable assets is an incredible 1:3,000 and spreads start from 0 pips, so there is indeed some merit to the trading conditions offered by the broker.

Despite its shaky regulatory footings, JustForex lists 18 of the world’s biggest banks as its liquidity providers and it keeps the monies deposited by its traders in segregated bank accounts.

Pros and Cons

Features

FAQ’s

What is a spread in forex?

The spread is essentially the difference between the bid and the asking price when opening a position.

What constitutes a low forex spread?

A low, or tight, forex spread will mean that there is only a small difference between the bid and the asking price, meaning that the broker charges less for your trades.

What causes the spread to become wider?

The impact of the stock price will generally cause the spread to widen

Whichforex brokers have the best spreads?

Check our comprehensive list of the 27 low spread brokers directly on the Forex Suggest website