10 Best Low Spread Forex Brokers
and Trading Platforms

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

For many Forex traders, the minimum spread is the most important factor when choosing their Forex Broker. A tight spread not only minimizes a traders’ losses but it is an important factor to consider for traders who open and close multiple positions per trading session. The spread refers to the difference between the bid/sell prices of an asset. 

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Here is an overview of the 10 Best Low Spread Forex Brokers and Trading Platforms available.

ActivTrades

ActivTrades is a CFD & forex broker which is based out of the UK, with a separate branch located in the Bahamas. Both entities are regulated by their country’s relevant authorities, the UK’s Financial Conduct Authority (FCA) and by the Securities Commission of the Bahamas (SCB)ActivTrades is also overseen by the European Securities and Markets Authority (ESMA).

Instruments available for trading includes a selection of stock CFDs, with stocks from more than 3,000 American, British, and EU-based companies, more than 300 exchange traded funds (ETFs),  more than 50 forex pairs, a handful of popular cryptocurrencies, several major stock indices, as well as CFDs on a range of commodities and government bonds.  The ActivTrader platform on offer is a web-based trading platform available in versions for both desktop computers and Apple & Android mobile devices. In addition to ActivTrader, the broker also offers the classic trading platforms MetaTrader 4 and MetaTrader 5 (MT4/MT5).

Account types on offer are a standard Individual Account, a Professional Account, a Swap Free Account for Muslim traders, as well as a free demo account. All trading accounts can be funded with bank wire transfers, major credit & debit cards, as well as the e-wallets Skrill, Neteller, PayPal, and Sofort. For traders in the EU, all funding methods are accepted free of charge.

  • Minimum account size:  $100
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  6
  • Minimum spread on EUR/USD, pips:  5

Customer Support is available via Live Chat, Skype or a Free Call Back request.

Forex Time (FXTM)

FXTM

FXTM was established in 2011 to offer Forex and CFDs and is highly regulated by the FSC of The Republic of Mauritius, the FCA of the UK, CySEC and licensed by FSCA of South Africa.

Standard and ECN Accounts are available with several subtypes. Under the Standard account, they offer the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zero account, FXTM Pro account and the ECN account. ECN accounts can be traded on MT4 and MT5.

FXTM offers Local NGN Funding, through bank wire transfer or Neteller with a minimum deposit of $100 for a standard forex account. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.

  • Minimum account size:  $500
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  2
  • Minimum spread on EUR/USD, pips:  0
  • Commission (one-way) per 1 std. lot:  $2

Customer support is available in 17 Languages via Live Chat, Phone, Telegram, Facebook and Twitter.

pepperstone best broker

Pepperstone

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA)Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –

Boasts three top forex trading platforms:

  • MetaTrader 4: Most Popular for Forex Trading
  • MetaTrader 5: Most Popular CFDs Trading Platform
  • cTrader: Best Automated Trading Platform

All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days.

Platform enhancements available for Pepperstone include: 

  • MetaTrader 4 smart trader tools
  • cTrader Automate
  • Autochartist and
  • API trading

A range of options for depositing funds are available, including: Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill and QIWI.

  • Minimum account size:                 $200
  • Minimum position size:                 01 lot
  • Spread type:                 Variable
  • Typical spread on EUR/USD, pips: 3
  • Minimum spread on EUR/USD, pips: 1

Pepperstone offers 24/5 multiple language support via email, phone and live chat.

fx pro

FXPro

FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies tradingFXPro is a global broker with a head office located in the UK. FxPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated brokerFxPro is also a member of the Investor Compensation Fund scheme.

FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

What can be traded with FXPro?

  • Over 250 instruments
  • Over 70 currency pairs

FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

FXPro Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.

  • Minimum account size:  $100
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  4
  • Minimum spread on EUR/USD, pips:  6

FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.

IQ Option logo

IQ Option

IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and the Seychelles, and regulated by the FCA and CySECIQ Option offers traders three trading account to choose from, Retail, Professional and Demo.

IQ Option offers the following underlying assets for FX trading.

90+ Currency Pairs

Based on major and minor world currencies.

17 Crypto Pairs

Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.

5 Indices CFDs

Based on baskets of different blue-chip stocks.

3 Metal CFDs

Based on Gold, Silver and Platinum.

2 Energy CFDs

Based on Crude Oil (WTI, Brent).

1 Soft CFD

Based on Wheat.

130+ Stock CFDs

Based on shares of US, UK and EU companies.

28+ ETF CFDs

Based on exchange-traded funds containing various tradable assets.

IQ Option offers the following underlying assets for Binary Options trading (unfortunately, not available for EU residents).

30+ Currency Pairs

Based on major and minor world currencies.

2 Indices BOs

Based on DFMGI, TelAviv-25.

2 Metal BOs

Based on Gold and Silver.

20+ Stock BOs

Based on shares of US companies.

Payment methods accepted include all the usual options like VISA, MasterCard, Skrill and Neteller, plus a range of other online money transfer services, including AstroPay, Qiwi, and WebMoney.  IQ Option’s trading platform is web-based and supports both binary options and forex & CFD trading within the same user interface. 

  • Minimum account size:  $1
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  8
  • Minimum spread on EUR/USD, pips:  5

Customer support is available 24/7 via email and local phone numbers in 13 countries.

OctaFX

OctaFX

OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account. 

OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

OctaFX Trading benefits:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

OctaFX Trading Accounts Offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • STP account
  • Islamic account

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading. 

  • Minimum account size:  $100
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  7
  • Minimum spread on EUR/USD, pips:  4

Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

NordFX

NordFX

NordFX is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC)NordFX offers Forex trading with specific accounts for each type of trader, including Zero accounts which offers spreads from 0 pips, while the Crypto account offers optimal cryptocurrency trading.   Types of trading accounts are –  Fix, Pro, Zero, and Stocks.

Trading instruments on offer ranges from more than 30 currency pairs, the popular precious metals gold & silver, 11 major cryptocurrency pairs, plus CFDs based on Brent oil and stock indices such as Dow Jones 30, S&P 500, DAX 30, NASDAQ 100, and NIKKEI 225.

  • Minimum account size:  $500
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  3
  • Minimum spread on EUR/USD, pips:  1

NordFX offers customer support via Email, Telephone and a 24/5 Live Chat function plus an Online Contact Form available on their website.

xtb best broker

XTB

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe.  XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

  • xStation 5
  • MT4

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Offers STP 

Mini account 

PayPal

Low min deposit 

Standard account 

Skrill

Guaranteed stop loss 

Islamic account

Payoneer

Offers Negative Balance Protection

 

Netelle

  • Minimum account size:  $1
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  3
  • Minimum spread on EUR/USD, pips:  1

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

easyMarkets

EasyMarkets

EasyMarkets is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner and established forex traders:

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy to use forex trading platform

Risk Management Tools on offer include:

  • Guaranteed Stop Loss Orders
  • Negative Balance Protection

EasyMarkets offer traders a choice of 4 Account types, the Standard, Premium, VIP and SuperVIP. Their minimum opening deposits are $100, $1 000, $2 500, $50 000 respectively. A demo account is also on offer.  The trading platforms on offer are the MT4 and the easyMarkets web platform.

  • Minimum account size:  $10,000
  • Minimum position size:  1 lot
  • Spread type:  Fixed
  • Spread on EUR/USD, pips:  9

EasyMarkets offers award winning customer service during market hours via live chat, email, fax or telephone.  EasyMarkets customer service is available in four languages – including English, Polish, Chinese, and Arabic.

oanda best broker

OANDA

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities including:

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority Of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

OANDA has 2 accounts on offer: a Standard Account and Premium Account. Each account comes with their own unique features and benefits. A free demo trading account is also on offer.

  • Minimum account size:  $1
  • Minimum position size:  00001 lot
  • Spread type:  Fixed
  • Spread on EUR/USD, pips:  2

Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.

Since a spread is effectively a commission from the broker, a lower spread is always a better option. A Lower spread can also be necessary if a trader wants to employ trading techniques such as scalping.  With that said, our “Best” list would not be complete without the following 10 Mention-worthy,  Best Low Spread Forex Brokers and Trading Platforms.

Swissquote best broker

Swissquote

Swissquote Bank offers traders the ability to trade in Forex, CFDs and Options on a variety of asset classes which includes Currency pairs, FX Options, Metals, Indices, Commodities and BondsTraders can choose to trade on a variety of trading platforms including the bank’s own Advanced Trader platform and MetaTrader 4 and 5.  Swissquote Bank Ltd holds a banking licence issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.

Swissquote Bank offers traders four different trading accounts to choose from including Standard, Premium, Prime and Professional, as well as access to a free demo trading account

  • Minimum account size:  $1,000
  • Maximum account size:  $25,000
  • Minimum position size:  1 lot
  • Spread type:  Fixed
  • Spread on EUR/USD, pips:  7

Users can deposit funds via bank wire transfer or via Visa or Mastercard.  Customer support is offered in ten different languages via Live Chat, Telephone, Email and an Online Contact Form.

FP Markets

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

FP Markets Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

  • Minimum Initial deposit to start trading: $100
  • Average spread EUR/USD – active: N/A
  • Average spread EUR/USD – standard: 19
  • VIP or active trader discounts: N/A

Customer Service is available via email, phone and live chat.

FXCM

FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.

  • Minimum account size:  $25,000
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  7
  • Minimum spread on EUR/USD, pips:  1

Customer Support is available via Live Chat, Phone, Email and SMS.

HotForex

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

Key features include:

  • Supports:                  MT4, MT5 for desktop, web & mobile
  • Trading Instruments:                  Forex, Cryptocurrencies, CFDs on Stock Indices,

Commodities, Metals

  • Minimum account size: $5
  • Maximum account size: $500,000
  • Minimum position size: 01 lot
  • Spread type: Variable
  • Typical spread on EUR/USD, pips: 4
  • Minimum spread on EUR/USD, pips: 1

Customer support is available via phone and email.

XM Group

XM Group

Leverage:                            1:30 to 1:888 *Depends on the entity of the group

Regulation:                         CySEC, ASIC, IFSC

Min. Deposit:                    US$5

HQ:                                        Cyprus, Australia, Belize

Platforms:                           MT4, MT5, XM WebTrader

Founded in:                        2009

XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC.  1.5 Million Traders and investors choose XM and their wide range of XM trading products on offer.  Four main account types are on offer – Micro, Standard, XM Ultra Low Account and Shares Accounts.  Traders can select the base currency of their preference from a large selection on offer. This range includes South African Rand (ZAR), Singapore Dollar (SGD) and other global currencies.

Leverage:                                            As low as 1:1 to 1:500

Spread on all Majors:                     As low as 1 Pip

Min Initial Deposit (Micro):          USD 5

Customer Support is available via live chat, email and phone.

ic markets

IC Markets

IC Markets was founded in 2007 and International Capital Markets Pty Ltd (IC Markets) was established in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009 and is considered average-risk.

Feature

IC Markets

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

63

CFDs – Total Offered

41

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

 IC Markets offers three account types in which trading costs vary from commission-free on the Standard account to commission-based pricing on the True ECN and cTrader accounts and IC Markets provides a mobile version of all the platforms it offers, including MetaTrader 4 and MetaTrader 5 and cTrader, all of which come standard for iOS and Android.

  • Minimum account size:  $200
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  1
  • Minimum spread on EUR/USD, pips:  1

IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

Customer Support is available via Phone, Live Chat and Email.

FBS

FBS

FBS is a Forex and CFD broker which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC). FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies on the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms for PC, Mac, Web, Android and iOS with a maximum 1:3000 leverage, copy trading services and a range of bonus promotions.

Five different trading accounts are available – Cent, Micro, Standard, Zero Spread and ECN. Each account offers different features and benefits respectively. A demo trading and swap-free accounts are also available.

Pip Spread on Majors:                   1.1

Min Position Size:                            0.01

Spread Type:                                     Fixed, Variable

Max Leverage:                                  3000

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

Exness review

Exness

Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-free accounts are also available.  Exness offers over 105 different instruments to trade, including over 103 currency pairs.

  • Minimum account size:  $1
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  1
  • Minimum spread on EUR/USD, pips:  3

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

IronFX

IronFX is the trade name of Notesco Limited which is based in Bermuda, Regulated By ASIC, CySEC, FCA and offers a multi-asset class Forex and CFD trading experience with 7 different account types to trade on over 200 financial instruments which covers Forex, Metals, Indices, Commodities, Futures and Shares on the MetaTrader 4 trading platform for PC, Mac, Web, Android and iOS.

The 7 different account types on offer are: The Micro, Premium, VIP and Zero Fixed Accounts offer live floating/fixed spreads. The No Commission, Zero Spread and Absolute Zero Accounts offer STP/ECN trading. A free demo trading account plus a swap-free account is also on offer.  IronFX offers users the ability to trade on the MetaTrader 4 trading platform for PC, Mac and Web and mobile devices.

  • Minimum account size:  $500
  • Minimum position size:  01 lot
  • Spread type:  Fixed
  • Spread on EUR/USD, pips:  0
  • Commission (one-way) per 1 std. lot:  $18

IronFX provides customer support 24/5  via email, live chat, a telephone support line and an FAQ section.

Roboforex robo forex best brokers

Roboforex

Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading.  Roboforex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.

Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

Roboforex Trading benefits:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP and Islamic.

  • Minimum account size:  $10
  • Minimum position size:  01 lot
  • Spread type:  Variable
  • Typical spread on EUR/USD, pips:  4
  • Minimum spread on EUR/USD, pips:  8

Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

In Conclusion

There are a number of factors that a trader should take into account before choosing to invest their funds with any specific broker.  To choose a good broker, traders should consider and choose a broker which suits their financial capabilities, trading style and personality.

EXNESS is this month's #1 Broker