Best Zero-Spread Forex Brokers

If you're a forex trader seeking a cost-effective, transparent and seamless trading experience, you should consider zero-spread forex brokers. These brokers offer trading opportunities where the spread, which is the difference between the bid and ask price, is set at zero or extremely tight. This means you can enter and exit positions at the exact market price without incurring additional costs, thereby maximizing profit. 

Zero-spread forex brokers streamline market access for undercapitalized traders by minimizing trading costs. However, while zero-spread forex brokers seem attractive, most platforms try to recoup the cost via hidden fees like commission and overnight charges, so read the terms to understand the pricing before opening accounts.

Quick Look: Best Zero-Spread Forex Brokers

• Best Overall: FOREX.com
• Best for CFD Trading: tastyfx (formerly G Markets)
• Best for Expert Traders: Interactive Brokers
• Best for CFDs: Plus500
• Best for Scalping and High-Frequency Trading (HFT): Tickmill
• Best for Beginners: Pepperstone

Get Started

Earn Cashback on Your FX Trades

Open an account in as little as 5 minutes. Spreads as low as 0.0, trade and manage your positions from a full suite of mobile and tablet apps.

Get Started

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% to 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

Show More

Best Zero-Spread Forex Brokers

Benzinga's six best zero-spread brokers comprise well-regulated and reputed forex brokerages that blend fast trade execution with other exceptional features. These brokers offer diverse tradable instruments, cutting-edge trading tools, excellent educational resources and competitive pricing. They are:

1. Best Overall: FOREX.com

FOREX.com is a raw spreads broker that offers competitive spreads, flexible leverage options, multiple account types and user-friendly trading platforms. FOREX.com provides three primary account options: Standard, Raw pricing and direct market access (STP Pro) accounts. 

Why We Picked It: The Standard account features variable spreads as low as 1.0 with no trade commission. In contrast, the Raw pricing account offers ultra-raw spreads as low as 0.0 for major pairs and a commission of $7 per per $100k traded. The STP Pro account is commission-free and has a similar spread to the Raw pricing account. The default leverage is 200:1. However, you can request it to be changed to a maximum of 400:1 for the Standard account or 100:1 — 50:1 for other account options. The brokers support multiple trading platforms, including MT4, MT5, TradingView and NinjaTrade, available on web, desktop and mobile devices for on-the-go access.

2. Best for CFD Trading: IG Markets

IG Market, recently rebranded to tastyfx is a London-based forex and CFD broker that provides a comprehensive trading package, including multiple-robust trading platforms, flexible strategies and exceptional educational and research tools. tastyfx supports ProRealTime for the web, MT4 and L2 Dealer — its direct market access (DMA) platform. 

Why We Picked It: You can seamlessly trade 80+ forex pairs on these platforms using your favorite strategies, including algorithmic trading. You can set up an account and start trading with a $250 minimum. For major pairs, spreads start as low as 0.8 (with zero commission). Per CFTC regulations, you can access up to 50:1. If you meet a certain volume threshold, you qualify for a rebate. The mobile app is equipped with essential tools such as advanced charts, risk management features and customizable trading options and makes for excellent ease of usage. 

3. Best for Expert Traders: Interactive Brokers

Interactive Brokers (IBKR) prides itself as the gateway to the global financial market for expert traders and is rightfully so, given its expansive offering. You can explore over 150 global markets and trade your favorite assets, including stocks, options, bonds, funds and forex.

Why We Picked It: IBKR offers over 100 currency pairs on 24 global currencies with a tight spread as narrow as 0.1 pips and a commission as low as  0.08, depending on your monthly trading volume. There's no account minimum, inactivity fees, hidden spread or markup. IBKR's transparent and low prices prevent conflicts of interest often associated with brokers who trade for their own accounts. 

4. Best for CFDs: Plus500

Plus500 is a global multi-asset fintech group that operates trading platforms globally, offering a range of trading products including CFDs. Plus500 is not a direct forex brokers, but offers CFD and futures for forex traders.

Why We Picked It: Because Plus500 doesn’t charge a commission and only profits on spreads, you save money and don’t have to worry about overpriced fees, but make sure you understand that overnight funding, currency conversion, guaranteed stop order and inactivity fees may apply. If you’re a beginner, there are insights, the Trading Academy and webinars you can check out on YouTube. You can jump into Plus500, make the most of your expertise, build your portfolio and quickly turn a profit.

5. Best for Scalpers and High-Frequency Traders (HFT): Tickmill

From low trading costs to high leverages, Tickmill provides highly competitive trading conditions for high-frequency, high-volume traders and scalpers. You can access over 60 forex pairs across the global market. Tickmill allows all trading strategies, including algorithmic, automated and social trading. The forex trading platform includes the MT4/5 platform.

Why We Picked It: The spread varies according to account type, starting as low as 0.0 for the Pro and VIP account and 1.6 for the Classic account. There is no commission on the Classic account; for the Pro and VIP account, there is a commission of two units of the base currency per side per lot and 1 unit of the base currency per side per lot, respectively. 

6. Best for Beginners: Pepperstone

Pepperstone provides traders with an expanding selection of tradable instruments, quality educational resources and support for various social copy trading platforms. Pepperstone uses multiple liquidity providers from Tier 1 Banks and financial institutions to provide competitive quotes with low spreads and deep liquidity on diverse instruments, ensuring razor-sharp pricing and fast execution. 

Why We Picked It: The minimum spread ranges from 0.0 for the Razor account to 1.00 for the Standard account. Commissions are charged only for the Razor accounts. There's no minimum deposit requirement, and leverages range between 30:1 to 500:1 depending on regulatory jurisdiction.

What is a Zero-Spread Forex Broker?

A zero-spread forex broker is a type of brokerage firm that offers forex trading with no spread or markup on the bid-ask prices. This means that traders can buy at the ask price and sell at the bid price without incurring additional costs. Instead of earning from the spread, these brokers typically charge a fixed commission per trade. Zero-spread brokers provide a transparent pricing structure that allows traders to see the true interbank market prices and enjoy tighter bid-ask spreads. 

This can particularly benefit day traders, scalpers and high-frequency traders who execute numerous trades in a short timeframe (aiming to profit from small price movements) and so need to keep transactions low. However, it's important to note that zero-spread brokers may have other fees or limitations. Hence, it's crucial that you carefully consider all aspects before choosing a broker.

How to Choose the Best Zero-Spread Forex Broker

When selecting the best zero-spread forex broker, consider the following factors to make an informed decision.

Spreads

The spread directly impacts your trading costs. Tighter spreads result in better pricing, enhancing profitability and reducing overall trading expenses. While zero-spread brokers eliminate the spread markup, it's essential to ensure that the broker consistently offers competitive bid-ask spreads not just for a few currency pairs but across multiple currency pairs and financial instruments.

Execution Speed

Fast and reliable execution ensures you can enter and exit positions promptly, taking advantage of market opportunities without delays. A zero-spread broker with efficient execution speed can help you achieve optimal trade entry and exit points, enhancing your trading experience and improving overall results. Therefore, you must consider the execution speed of your chosen zero-spread forex brokerage before opening an account. 

Trading Platform

The trading platform is the interface for executing trades and accessing market data. A reliable and user-friendly trading platform can enhance your trading experience, providing intuitive navigation, advanced charting tools and order execution capabilities. Choosing a zero-spread broker with a robust and efficient trading platform is essential to ensure seamless and convenient trading operations.

Trading Instruments

Considering the range of trading instruments is essential when choosing a zero-spread forex broker, as it determines the variety of markets you can trade. While forex is the primary focus, having access to additional instruments like stocks, indices, commodities or cryptocurrencies can offer diversification opportunities. A broker with a broader range of trading instruments allows you to explore different markets and potentially capitalize on various trading opportunities.

Tools and Resources

Besides trading platforms, you must also consider the available tools and resources when opening a zero-spread forex brokerage account, as they can enhance your trading analysis and decision-making process. Advanced charting tools, technical indicators, economic calendars and educational resources can provide valuable insights and help you stay informed about market developments. A broker that offers comprehensive tools and resources can support your trading strategies and contribute to your overall trading success.

Regulation

Well-regulated brokers operate within established guidelines, providing security and protection for traders. They are subject to regulatory oversight, which promotes transparency, fair trading practices and client fund protection. So consider brokers regulated by reputable financial authorities like FCA (U.K.), CTFC and NFA (U.S.), as they mitigate risks and instill confidence in the integrity of the trading environment.

Maximize Profitability and Save Cost By Choosing Zero-Spread Forex Brokerage 

Choosing a zero-spread forex brokerage can significantly impact your trading profitability by minimizing costs and maximizing potential gains. These brokers provide transparent and fair pricing by eliminating the spread markup, ensuring you get the best possible rates. This cost-saving advantage is particularly beneficial for scalpers, high-frequency traders and those who engage in frequent trading activities. Selecting a reputable zero-spread forex broker allows you to optimize your trading strategy while minimizing expenses, ultimately helping you achieve greater profitability in the forex market.

Frequently Asked Questions