The best Forex brokers for zero pip spread are Pepperstone, FP Markets, XM, and IC Markets.
To choose the best Forex broker to trade with zero pip spread, the availability of accounts with zero spreads, trading costs (commissions), platform and tools, execution speed, and customer support are the most important criteria.
Pepperstone is the best zero pip spread Forex broker overall, it offers an account with zero spread, commission (from $7 on MT4/5 and $6 on cTrader), fast execution (average 30ms), comprehensive platform (MetaTrader, cTrader, TradingView and Proprietary Platform), and active customer support (24/5 availability).
FP Markets, XM, and IC Markets follow Pepperstone as the best Forex brokers with zero spread account, with platform and tools (MT4, MT5, cTrader and Proprietary platforms), and customer support (24/5 availability via phone, email, and chat). FP Markets offers trading costs with commission of $6 per lot round turn on EUR/USD with an execution speed of 40 ms approximately. XM offers trading costs with $3.50 commission per lot with an execution speed less than 1 second approximately. IC Markets offers trading costs with commission of $7 per lot round turn on EUR/USD with an execution speed of 36.5 ms approximately.
What are the best 0 pip spread forex brokers?
Below our curated list and review of the best 0 pip spread forex brokers and platforms, with details of features and characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Pepperstone
best for scalping
Pepperstone offers 0 pip spread through the Razor Account with a $7 on MT4/5 and $6 on cTrader round-turn commission. Pepperstone requires no minimum deposit.
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About Pepperstone
Pepperstone is a global forex and CFD broker founded in 2010 in Melbourne, Australia. Pepperstone offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader and cTrader platforms. Pepperstone is regulated by multiple authorities including ASIC, FCA, and CySEC. Pepperstone is known for competitive spreads, fast execution, and extensive educational resources. Pepperstone serves clients in over 160 countries worldwide. The Pepperstone CEO is Tamas Szabo.
Pepperstone Features
The features of Pepperstone are listed below.
- Pepperstone is a 0 pip spread forex broker because of the presence of the Razor Account in their offer.
- The Pepperstone Razor Account charges spreads from 0 pips with a $7 round turn commission.
- No minimum deposit is requested by Pepperstone, though a $200 minimum amount is suggested by the broker.
- MT4, MT5, cTrader, TradingView and Proprietary Platform are all available with the Pepperstone Raw ECN account.
- A selection of 90+ forex pairs are provided by Pepperstone, with an average spread of 0.25 pips.
Pepperstone Pros and Cons
Advantages of Pepperstone
The advantages of Pepperstone are listed below.
- Stable raw spreads (0,10 pips on EUR/USD on average)
- Caters for algorithmic trading
- Has won over 30 Forex industry awards
Disadvantages of Pepperstone
The disadvantages of Pepperstone are listed below.
- The demo account is not unlimited
FP Markets
best execution order
FP Markets provides spreads from 0 pips on the Raw ECN Account with a $3 commission per lot. FP Markets requires a $100 minimum deposit.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- FP Markets offers spreads from 0 pips on the Raw ECN Account.
- The Raw ECN account at FP Markets has spreads from 0 pips with a $3 commission per lot.
- The minimum deposit FP Markets requires to open the Raw ECN account is $100.
- MT4 and MT5 are both available to be used with the FP Markets Raw ECN account.
- FP Markets provides over 70+ forex pairs with an average spread of 0.3 pips.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
XM
best with no-requotes
XM provides a Zero Account with spreads from 0 pips and a $3.50 commission per lot. XM requires a $5 minimum deposit.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- XM Zero Account is provided to clients depending on your location. European clients will be able to have access to it, while global clients may not.
- The spreads on the XM Zero account start from 0 pips with a $3.50 commission per lot traded.
- 5$ is the minimum deposit XM requires to open the Zero Account.
- MT4 and MT5 platforms are made available by XM with the Zero Account.
- The XM Zero Account offers more than 55 forex pairs with an average spread of 0.2 pips.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
IC Markets
best for algo-trading
IC Markets offers a Raw Spread Account with spreads from 0 pips and a $3.50 per lot commission. IC Markets requires a $200 minimum deposit.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
- The Raw Spread Account at IC Markets provides 0 pip spread trading.
- The spreads start from 0 pips with a $3.50 per lot traded commission if you are using MetaTrader, and $3 per lot traded via cTrader.
- The minimum deposit you need to make in order to start trading with the IC account is $200.
- IC Markets MetaTrader platforms, such as MT4 and MT5, as well as cTrader are all enabled to be used with the Raw ECN account
- 60+ forex pairs can be traded at IC Markets, with an average spread of 0.3 pips.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
FBS
best 0 pip broker overall
FBS provides a Zero Spread Account with spreads from 0 pips and a $20 commission per lot. FBS requires a $500 minimum deposit.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- FBS provides two account types with spreads from 0 pips.
- The FBS Zero Spread Account charges spreads from 0 pips with a commission of $20 per lot.
- While the ECN Account has spreads from -1 pips with a commission of $6 per lot
- The Zero Spread account requires a $500 amount to start, while the ECN requires a $1000 minimum deposit.
- Both the accounts have the access to MT4, MT5 and FBS Proprietary platform.
- With FBS, you can trade among 35 forex pairs with an average spread of 0.3 pips.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
FxPro
best cTrader account
FxPro offers 0 pip trading via the cTrader account with a $7 commission per lot. FxPro requires a $100 minimum deposit.
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About FxPro
FxPro is a global online broker founded in 2006, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. FxPro provides multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and its proprietary FxPro Platform. FxPro is regulated by multiple authorities including FCA, CySEC, SCB, FSC and KNN. FxPro serves clients in over 170 countries and has won numerous industry awards. The FxPro CEO is Charalambos Psimolophitis.
FxPro Features
The features of FxPro are listed below.
- FxPro offers 0 pip trading via their cTrader account.
- Spreads at FxPro cTrader account start from 0 pips with a commission that stays competitive at $7 per lot traded on a round-turn basis.
- The minimum deposit is very accessible to open a cTrader account, with only $100 required by FxPro.
- The cTrader platform allows for 0 pip trading with the FxPro cTrader Account.
- 70+ currency forex pairs can be traded with the FxPro Account, with an average spread of 0.7 pips.
FxPro Pros and Cons
Advantages of FxPro
The advantages of FxPro are listed below.
- Regulated and Trusted Forex broker
- Diverse Trading Platforms
- Wide Range of Instruments
Disadvantages of FxPro
The disadvantages of FxPro are listed below.
- Inactivity Fee
- Limited Educational Resources
- No Guaranteed Stop-Loss Orders
Vantage
best Pro ECN account
Vantage allows 0 pip trading with a Raw ECN spread and a $6 per lot commission. Vantage requires a $500 minimum deposit for Raw ECN.
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About Vantage
Vantage is a global multi-asset broker founded in 2009, offering trading on forex, CFDs, commodities, indices, shares, and cryptocurrencies. Vantage provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Vantage is regulated by multiple authorities including ASIC, FCA, and CIMA. Vantage is known for fast execution, competitive spreads, and extensive educational resources. Vantage serves over 3 million registered users worldwide. The Vantage CEO is David Shayer.
Vantage Features
The features of Vantage are listed below.
- The Vantage Raw ECN and Pro ECN Accounts allows 0 pip trading.
- Spreads at Raw ECN account start from 0 pips with a commission of $6 per lot traded round-turn.
- Spreads at Pro ECN start from 0 pips with a commission of $3.50 per lot traded.
- The minimum deposit Vantage will need from you to open a Raw ECN and a Pro ECN account is respectively $500 and $20.000.
- Vantage provides the MT4 platform alongside the MT5 platform for the use of those 2 ECN accounts.
- At Vantage, 40+ is the number of forex pairs available, with an average spread of 0.3 pips.
Vantage Pros and Cons
Advantages of Vantage
The advantages of Vantage are listed below.
- Competitive spreads and low commissions
- Strong range of asset classes
Disadvantages of Vantage
The disadvantages of Vantage are listed below.
- Not available to US traders
- Customer service could be improved
Axiory
best low minimum deposit
Axiory offers spreads from 0 pips through the Nano Account and Tera Account with a $6 commission. Axiory requires a $10 minimum deposit.
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About Axiory
Axiory is a global online broker founded in 2012, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. Axiory provides MetaTrader 4, MetaTrader 5, and cTrader platforms. Axiory is regulated by the International Financial Services Commission (IFSC) of Belize. Axiory is known for competitive spreads, fast execution, and extensive educational resources. Axiory offers various account types including ECN accounts. The CEO of Axiory is Roberto d’Ambrosio.
Axiory Features
The features of Axiory are listed below.
- Axiory offers 2 account types with 0 pip trading. The Nano Account and the Tera Account.
- Both the Axiory Nano Account and the Axiory Tera Account have spreads from 0 pips with a $6 commission per lot.
- Both The Nano Account and the Tera Account have a minimum deposit of $10 requested by Axiory.
- The Nano Account is available at Axiory with the MT4 and cTrader platforms, while the Tera Account is available with the MT5 platform.
- Over 60 Axiory forex pairs are available to be traded, with an average spread of 0.45 pips.
Axiory Pros and Cons
Advantages of Axiory
The advantages of Axiory are listed below.
- Competitive Spreads
- Diverse Account Types
- Robust Educational Resources
Disadvantages of Axiory
The disadvantages of Axiory are listed below.
- Limited Regulation
- High Inactivity Fees
- Withdrawal Fees
HFM
best liquidity
HFM provides the HF Zero Spread Account with spreads from 0 pips and a $6 commission per lot. HFM requires no minimum deposit.
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Avg. EUR/USD Spread:
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About HFM
HFM, formerly known as HotForex, is a global multi-asset broker founded in 2010. HFM offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader and proprietary platforms. HFM is regulated by multiple authorities including FCA, CySEC, and FSCA. HFM is known for competitive spreads, fast execution, and extensive educational resources. HFM serves over 3.5 million clients worldwide. The HF Markets Group CEO is George Koumantaris.
HFM Features
The features of HFM are listed below.
- HFM provides the HF Zero Spread Account with spreads from 0 pips.
- The Zero Spread Account is offered by all HFM entities with the exception of the UAE, though clients under that regulation can use a VIP account with a minimum deposit of 74,000 AED and spreads from 0 pips alongside a 44 AED commission per lot.
- This HFM Account charges a commission of $6 per lot alongside the spreads from 0 pips.
- HFM clients who want to open the HF Zero Account need to make a minimum deposit of $0.
- Both HFM MT4 and MT5 platforms are compatible with the Zero Spread Account.
- 45 forex pairs with an average spread of 0.4 pips can be found on the HFM Zero Spread Account.
HFM Pros and Cons
Advantages of HFM
The advantages of HFM are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HFM
The disadvantages of HFM are listed below.
- Higher Trading Costs
- Limited Educational Resources
GO Markets
best educational service
GO Markets offers the GOPlus+ Account with spreads from 0 pips and a $3 per lot commission. GO Markets requires a minimum deposit from $100 to $500.
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About GO Markets
GO Markets is an online broker offering CFD trading in different markets such as forex, commodities, indices and shares. GO Markets was founded in 2006 and is regulated by multiple authorities, including ASIC, CySEC, FSC, and FSA. GO Markets provides various trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and their proprietary GO WebTrader. GO Markets emphasizes fast execution, tight spreads, and educational resources for traders.
GO Markets Features
The features of GO Markets are listed below.
- GO Markets offers the GOPlus+ and GO Pro Accounts to engage in 0 pip forex trading.
- The Go Plus+ Account is not available under the FSA and SVG regulations, while the GO Pro Account is available only under the FSA regulation.
- The GO Plus+ Account has spreads from 0 pips with a $3 per lot commission.
- The GO Pro Account provides spreads from 0 pips with a $7 per lot commission.
- In order to open a GO Plus+ account, a minimum deposit from $100 to $500 depending on your location will be requested by GO Markets, while The GO Pro Account needs a $3000 minimum deposit to start.
- MT4 and MT5 are both available with those 2 GO Markets accounts, though availability may depend on your location.
- More than 50 forex pairs are offered by GO Markets, with an average spread of 0.23 pips.
GO Markets Pros and Cons
Advantages of GO Markets
The advantages of GO Markets are listed below.
- Fast Account Opening
- Excellent Educational Resources
- Competitive Spreads
Disadvantages of GO Markets
The disadvantages of GO Markets are listed below.
- Limited Product Portfolio
- No Investor Protection for Non-EU Clients
- High Minimum Deposit Requirement
What is a zero-spread Forex broker?
A zero spread forex broker refers to a forex (Foreign Exchange) brokerage firm that facilitates trades without adding any mark-ups to the raw bid-ask spread, but charges volume commissions instead.
This type of broker is also referred to as “zero spread forex broker”. Others refer to them as “zero spread accounts”.
A “mark-up” refers to an additional spread added by the broker to the bid and ask prices they receive from their liquidity providers. Essentially, it’s a way for brokers to earn revenue from trades without charging a fixed commission.
Those considered ‘0 pips spread brokers’, on the other hand, offer forex traders the exact same prices they receive from liquidity providers, thus called raw-prices, or raw spreads.
Instead of earning from the mark-up (which is not applied), they earn from a fixed percentage commission that is charged based on trade volume.
How do zero-spread forex brokers work?
Zero spread forex brokers do not charge commissions on the bid-ask price difference, but they charge fixed commissions on the trading volumes generated by the trader.
You should know that forex brokers’ main income comes from customers-generated trading commissions, and as a result, zero spread brokers have to charge other fees in order to generate revenue.
Thus, zero spread brokers offer their traders a variable market spread starting at zero pips, and to offset the absence of mark-up on the spread they charge a commission per each lot traded.
Per-lot commissions are fees that range from $4 to $8, and are calculated on the trading volume (expressed in lots) generated by the user.
If the trader opens an order of 1 standard lot, no mark-up will be applied on the spread but on the volume of 1 standard lot, which will range between $4 and $8 depending on the broker.
On the other hand, if the trade is 1 micro lot (which is 1/100th of a standard lot), the commission per lot will be 100 times smaller or between $0,04 and $0,08.
Zero Spread vs Spread Mark-up
Both forex broker types have pros and cons, however zero spread brokers are more suitable to highly speculative forex trading strategies such as scalping, while forex brokers with mark-up spreads are more suitable for standard day trading or multi day forex trading strategies.
In fact, brokers that do not charge mark-ups generally have much more efficient order execution than other brokers because they often offer direct market access (DMA) without interfering with the trader’s order.
What does 0 pip spread actually mean?
When a forex broker offers spreads of 0 pips, it means that on its trading platforms it offers raw spreads varying from 0 pips.
The raw spread is the natural spread in the forex market, and it is defined that way because it is not manipulated but is offered as is to traders.
However, the market spread (or raw spread), while starting at 0 pips can be slightly higher depending on the market situation.
This is data taken from the Raw Spread account of IC Markets (August 2023), one of the best zero spread brokers in the market.
| Currency pair | Minimum spread | Average spread |
| EURUSD | 0 | 0.06 |
| GBPUSD | 0 | 0.26 |
| USDCAD | 0 | 0.23 |
| USDCHF | 0 | 0.34 |
| USDJPY | 0 | 0.22 |
As you can see, the minimum spread starts at zero pips, however the historical average spread is slightly higher than the minimum spread.
However, the increase in the average spread is not caused by IC Markets, but is the natural spread of the market that can increase or decrease depending on the international laws of supply and demand for currencies.
Is zero pip forex spread actually commission free trading?
Zero pip spread doesn’t mean there are no commissions nor fees, but rather that the forex broker offers raw spreads from 0 pips.
When trading with a forex broker you may still run into some fees such as:
- Market spread
- Fixed commissions per each forex lot traded
- Overnight commissions
The market spread starts at zero pips, however it can increase if market conditions change. In other words, the spread may increase slightly from 0.00 pips, to 0.01 pips for a fraction of a second. This change, while imperceptible, is still an additional trading cost if a trade is executed at that time.
Forex per-lot commissions are the main income of forex brokers who offer raw spreads. These commissions range from $4 to $8 per every $100000 traded
Overnight commissions are ubiquitous when it comes to forex and CFD trading. These commissions (generally a few cents), are charged in multi-day positions, that is, when the trader does not close the forex position before the market closes.
Are zero spread forex brokers worth it?
When it comes to trading commissions, zero spread forex brokers are cheaper than other forex brokers.
Typically, forex brokers that charge a mark-up on the spread, have spreads as low as 1 pip. In contrast, forex brokers that do not charge a mark-up on the spread, have commissions per lot ranging from $4 to $8.
So typically commissions are measured in pips, but zero spread forex brokers calculate them in USD. To fully understand what we are talking about, here is a practical example.
Let’s consider a trade on the EUR/USD pair of a standard lot, that is, with volume of $100000, a change of 1 pip will be worth about $10.
This means that for each lot traded, on average, a classical broker will charge commissions of about $10, while a zero-pip broker will charge commissions ranging from $4 to $8
This makes zero spread brokers cheaper when it comes to trading costs.