When it comes to forex trading, many traders look for brokers who have the smallest spreads possible in order to maximize their prospective profits. Low Spread forex brokers-
The development of forex trading in recent years has resulted in stronger than ever competition between brokers, prompting many of them to offer competitive trading conditions and tight spreads to attract customers.
In this article, we break down the 5 best Low Spread forex brokers that offer low spreads alongside excellent trading conditions.
1. City Index
Overview
With City Index, traders may take advantage of tight spreads starting at just 0.5 points on popular currency pairings. Based on fair and transparent pricing as well as thorough client support, the broker aspires to be the market leader in terms of service.
City Index clients receive access to more than 12 000 worldwide markets, including Forex, indices, stocks and commodities, as a result of their membership with the company.
Pros and Cons
PROS | CONS |
Low trading fees
No fees for deposit and withdrawal Comprehensive research tools |
Limited product portfolio |
Features
Feature | Information |
Regulation | FCA, ASIC |
Minimum deposit from | $100 |
Average spread from | 1.5 pips |
Commissions from | $3 |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:200 |
Bonuses | Deposit Bonus |
Customer Support | 24/6 |
2. IFX Brokers
Overview
Online trading broker IFX Brokers is situated in South Africa and provides its clients with cutting-edge technologies.
Trading with IFX Brokers will result in costs starting at $6 USD, spreads ranging from 0.5 to 1.6 pips, and commission-free trading across the majority of account options, according to the company.
Pros and Cons
Pros
High leverage available MetaTrader 4 is supported. Resources for learning are available |
Cons |
Features
Feature | Information |
Regulation | FSA |
Minimum deposit from | ZAR100 |
Average spread from | 0.5 pips |
Commissions from | NA |
Deposit/Withdrawal Fees | NA |
Maximum Leverage | 1:500 |
Bonuses | NA |
Customer Support | 24/5 |
3. Forex.com
Overview
FOREX.com has a five-tiered Active Trader program for traders with a lot of trading volume.
Spreads on the EUR/USD pair can fall as low as 0.84 pips at levels five and six, respectively. Using the most recent data from the broker, the typical spread for MetaTrader users was 1.3 pips on the EUR/USD.
Pros and Cons
PROS | CONS |
Low Forex fees | Limited asset portfolio |
High number of currency pairs
Well-regulated |
High stock CFD fees |
Features
Feature | Information |
Regulation | FCA, CIMA |
Minimum deposit from | $50 |
Average spread from | 1 pips |
Commissions from | Commissions on the commission account only |
Deposit/Withdrawal Fees | None |
Maximum Leverage | Variable dependent on instrument traded |
Bonuses | 20% Welcome Bonus |
Customer Support | 24/5 |
4. FXCM
Overview
FXCM’s spreads on currency pairs and CFDs are competitive. Spreads for active traders can be significantly reduced because of the volume of trades they make.
On FXCM, some of the most popular currency pairings traded are EUR/USD and GBP/USD, both of which have modest spreads of just 1.3 pip.
Pros and Cons
PROS | CONS |
Excellent trading platforms | 1.Limited product portfolio in terms of asset classes |
Low minimum deposit
High maximum leverage |
Features
Feature | Information |
Regulation | FCA, ASIC, ACPR, FSP |
Minimum deposit from | $50 |
Average spread from | 1.3 pips |
Commissions from | £4 per standard round-turn lot (£2 per side) |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:400 |
Bonuses | $20 Welcome Bonus |
Customer Support | 24/5 |
5. Plus500
Overview
Trading on a wide range of financial markets with low spreads and no commissions is a defining feature of Plus500.
Plus500 is considered an advanced broker that provides a comprehensive selection of trading features, ensconced in sound regulation and offering excellent customer support.
Pros and Cons
PROS | CONS |
Wide range of market instruments
Competitive pricing Well regulated |
Relatively limited research tools |
Features
Feature | Information |
Regulation | FCA, ASIC |
Minimum deposit from | $100 |
Average spread from | 0.5 pips |
Commissions from | $3 |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:30 |
Bonuses | Deposit Bonus |
Customer Support | 24/5 |