Best zero spread forex brokers.

Best Zero Spread Forex Brokers | No Spreads

We may receive a commission if you join a broker we recommend. Information provided is generic in nature and is not financial advice.

Searching for a forex broker that offers zero spreads?

In this post, we’ve taken a look at five of the best low spread forex brokers you can join at the moment.

For each of these brokers, we’ve also explained what you need to do to access their zero spread account, because sometimes, there’s a special process you need to follow.

Before we begin, make sure to click the links in the description to these brokers’ websites, to learn more about their services, and open an account.

Oanda

Oanda logo.

Oanda currently offers two different types of forex accounts – spread only, and core spread plus commission. With the core plus commission option, you only pay the base spread, also known as the core spread, on all currency pairs. This means you get zero spreads on many major pairs, including AUD/USD, EUR/GBP, and USD/JPY, among others.

The best thing about Oanda is their customer service. They’re a lot more helpful and more responsive than many other brokers on the market, meaning you can normally get any account or other issues resolved really quickly.

Oanda is also a well-regulated, trustworthy broker, approved by market regulators in Australia, the UK, Canada, Singapore, and the United States. There’s no minimum account deposit to get started, and they also have a really good range of pairs to choose from, although some of the smaller ones do have spreads.

The only real downside to Oanda is they don’t support MetaTrader 5 at the moment. However, you can use MT4 or TradingView to make trades, and their proprietary software platform is really good as well.

CMC Markets

CMC Markets logo.

CMC Markets is another large, reputable, well-regulated forex broker. They’re regulated in Germany, Canada, Australia, Dubai, and other regions, and offer a special “FX Active” account, which comes with zero spreads on six major pairs, including AUD/USD, EUR/USD, GBP/USD, and more.

CMC is another option with no minimum deposit for new traders, but they have a much larger number of pairs to trade than the likes of Oanda. There are currently more than 300 different currency pairs you can trade with CMC, plus a huge range of share, crypto, and other CFDs.

They also have quite reasonable commissions, at just $2.50 per standard lot round trip. On the FX Active account, you can only trade with MT4 or CMC’s own trading software, which is a bit of a downside. However, given the fees they’re charging, and how reputable they are, CMC Markets is definitely worth considering if you want to trade major pairs with no spreads.

Exness

Exness logo.

Exness has a few different special types of trading accounts you can use to achieve zero spreads when trading forex. The first is their Zero account. It offers low or no spreads on their top 30 most popular instruments, including stocks, commodities, crypto, and forex.

However, if you want zero spreads on a wider range of pairs, their Raw Spread account is a better option. It’s very similar to the Zero account, except has zero spreads on more pairs and comes with a $3.50 commission, which is a bit higher than most other Exness account types.

Even though they’re not as much of a household name as a broker like CMC, Exness is still very well-regulated. They have approval in the UK, Cyprus, South Africa, and other regions. Their customer service is good, and they have nearly 100 different currency pairings you can trade. They also allow you to place orders with MetaTrader 5, although TradingView isn’t available to use at the moment.

FP Markets

FP Markets logo.

FP Markets offers a special Raw account type, which comes with zero spreads on a range of pairs at the moment. This broker doesn’t have quite as many regulator approvals as the other companies we’ve looked at so far, but their commissions are quite reasonable, at $3 per standard round trip on their Raw account.

There is a $100 minimum deposit to get started, and there are only about 60 different pairs you can trade with this broker – a decent bit lower than CMC, for example.

However, FP has a really good range of platforms you can choose to trade on, including TradingView, cTrader, MT4, and MT5, which is great. Their customer service is also pretty good, and they also have a large range of funding methods available, including credit and debit cards, Skrill, Neteller, and even PayPal in some locations.

IC Markets

IC Markets logo.

Finally, IC Markets is another broker that offers a raw trading account, with no spreads on certain pairs. Similar to FP Markets, this broker supports MT4, MT5, cTrader, and TradingView, which is nice, and they also have quite a good proprietary trading platform you can use as well.

Their execution speeds are fast, which is good for scalpers, and they have a great range of funding methods to choose from in most countries they service. However, there are some downsides to IC Markets worth knowing about. They only have 61 currency pairs to trade, which is the fewest of any broker we’ve looked at here.

There’s also a $200 minimum deposit for new accounts, and their commissions are $3.50, instead of the $2.50 or $3 you’d pay with CMC or Exness. IC Markets is a good choice if you’re in one of the countries they service, like Australia or Cyprus. However, there are better, more widely available low spread brokers on the market at the moment.

Conclusion

When choosing a zero spread forex broker, the most important thing to think about is the pairs you want to trade. Zero spreads are most commonly available on major pairs like GBP/USD, but this can vary by broker. So, it’s important to check which pairs a given broker offers on their raw spread account before you join them.

For most people, in most countries, Oanda, CMC, or Exness are a great choice, depending on the pairs you want to trade and the trading platforms you want to use. Click the links in the description to learn more about each of the brokers we’ve looked at, and to open an account and try their zero spread trading. And if you have any questions about choosing a broker, leave us a comment below, and we’ll get back to you.

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