Best Low Spread Forex Brokers for Exotic Pairs

logomark Filippo Ucchino calendar Last Updated: November 2021 timer 11 min read
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At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

Forex brokers undoubtedly play a significant role in the Forex trading industry. Forex traders have the luxury of choosing from these numerous brokers to trade any forex pair of their choice, including low spread Forex exotics.

You can check our review of the Best Forex Brokers and Lowest Spread Forex Brokers for a deeper understanding of some of these reputable trading platforms.

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

Best ECN Forex Brokers Minimum Deposit Total number of exotic forex pairs Spread Type
Pepperstone No minimum deposit 47 Variable
HotForex $200 32 Variable
Admiral Markets $100 22 Variable
FP Markets $100 30+ Variable
Forex.com $250 35+ Variable
Dukascopy $100 20+ Variable
Roboforex $100 10+ Variable
LCG $10.000 40+ Variable
ActivTrades $1.000 15+ Variable
ADSS $100 25+ Variable
Table of contents

Top 10 Best ECN Forex Brokers for Exotic Pairs

Here is a list of the top 10 best ECN forex brokers for exotic pairs if you are looking for one:

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74-89% of retail investor accounts lose money when trading CFDs

1. Pepperstone

Pepperstone is an Australian broker that has been in the business since 2010. The STP/ECN broker is reputed for its low and competitive spreads, and fast execution.  It is regulated by some of the most respected regulatory bodies such as ASIC and FCA.

You can open an account on the platform without the fear of meeting its minimum deposit requirement because there is none. Of course, traders can choose from either of the two account types it offers: Razor and Standard. The Razor account is considered by experts as a great choice for new traders and scalpers.

Pepperstone is an ECN Broker with very low spreads and offers more than 45 exotic forex pairs for traders to choose from. It offers a wide range of deposit methods that depend on your location.

If you are based in the EU or the UK, the platform accepts wire transfers. You can also make your deposits via MasterCard or Visa.

In addition to the deposit methods available to their EU and UK counterparts, Australia-based traders can also make deposits through Neteller, PayPal, BPay, Skrill, Union Pay, and POLi.

The minimum deposit amount on Pepperstone is 200 USD/EUR/GBP.

90
Rated: Excellent
Security 94
Cost 75
Trading 100
Education 71

Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, DFSA, CYSEC, Offshore Minimum Deposit: 0
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71.64% of retail investor accounts lose money

2. HotForex

Like Pepperstone, HotForex has been active since 2010. The broker is heavily regulated by several regulatory bodies.

To operate on HotForex, you must meet its minimum deposit of $100 to sign up on the platform. After making the initial deposit, you can choose from the 6 types of accounts it offers such as Micro, Premium, Zero, Fixed, VIP, and Auto.

HotForex is another broker with very low spreads and supports over 30 exotic forex pairs to give its users several options.

The minimum deposit on HotForex depends on the account type you want to operate. Your jurisdiction influences the amount too. However, for most of its account types, your initial deposit will be between $5 and $1,000.

HotForex offers an array of deposit methods that include wire transfers, deposits through credit or debit cards such as MasterCard and Visa, and eWallet deposit options such as Skrill, PayPal, and Neteller.

You don’t have to break a bank to trade on HotForex. Its minimum deposit amount starts from $5.

81
Rated: Excellent
Security 94
Cost 86
Trading 69
Education 70

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: MIFID-ESMA, CYSEC, Offshore, FSC (Mauritius) Minimum Deposit: 5
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76% of retail investor accounts lose money

3. Admiral Markets

AdmiralMarkets is a veteran in the industry and has been operational since 2001. The London-based broker is regulated by the duo of CySEC and FCA. The broker offers over 40 forex currency pairs for traders to choose from.

Your account type determines the minimum deposit amount. However, to open a trading account on Admiral Markets, you must make a minimum deposit of $100. The payment gives you access to the more than 20 available exotic forex pairs the broker offers.

Admiral Markets supports an impressive number of deposit methods. You can pay through wire transfer or credit/debit cards such as MasterCard and Visa. Skrill, PayPal, and Neteller are some eWallet payment options it supports.

In addition to the above, you can also use other payment methods such as Klarna, SafetyPay, Przelewy, and iDeal, among others. It’s important to note that the accepted method depends on your location.

80
Rated: Excellent
Security 94
Cost 71
Trading 73
Education 78

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 100
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74-89% of retail CFD accounts lose money

4. FP Markets

Since 2005, this Australian broker has offered a trading platform for Forex traders across the globe. Regulated by CySEC and ASIC, FP Markets is one of the several ECN brokers with very low spreads.

On the majority of FP Markets’ accounts, the minimum deposit amount is $100. You can deposit through any of the payment platforms the broker supports. The options include MasterCard and Visa as well as eWallets such as Skrill and Neteller.

Other accepted deposit methods are BPAY, POLI, and Fasapay. Asian traders can pay through Paytrust88, Online Pay, and Ngan Luong. The available payment option depends on where you live in Asia.

After paying the minimum deposit amount to open an account on FM Markets, you can choose from its more than 30 available exotic forex pairs and trade. Note that the broker doesn’t charge deposit fees except if your initial deposit is less than $100 and the broker doesn’t cover whatever charges your bank imposes on you.

85
Rated: Excellent
Security 93
Cost 64
Trading 100
Education 47

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: 100
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73% of retail investor accounts lose money

5. Forex.com

Forex.com is a broker with international impact and operates in the United States as well. Some of the most respected regulatory bodies such as ASIC and FCA regulates this credible broker.

With just $50, you can open an account on Forex.com and trade any of the over 35 supported exotic forex pairs. However, it’s recommended that you deposit a reasonable amount of money that allows you to trade confidently.

The broker offers an impressive number of deposit methods to make the entire process stress-free. You can pay via a traditional bank transfer that is globally accepted. Other payment options include debit or credit cards like as MasterCard and Visa.

With the payment options above, users can deposit in multiple currencies such as EUR, USD, CAD, GBP, and other top currencies at low or no fees.

Aside from these options, USA traders can pay through a Personal/Business Check or eCheck.

81
Rated: Excellent
Security 95
Cost 69
Trading 75
Education 82

Platforms: MT4 Dekstop, MT4 Web, Proprietary Desktop Platform, Proprietary Web Platform Regulations: FSA, FCA, CFTC, MIFID-ESMA, IIROC, SFC, CYSEC, Offshore Minimum Deposit: 100
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83% of retail CFD accounts lose money

6. Dukascopy

Although it acts as a Forex broker, Dukascopy is a Swiss bank that has been in the Forex business for over 20 years, since 2000. It offers its customers access to the world’s first Decentralized Marketplace and thus became a member of a large number of centralized marketplaces and international banks.

The brokerage is duly regulated within Europe by FINMA and offers its services from its main office in Geneva, Switzerland. Besides the main office, Dukascopy has representative departments and sales offices across the globe.

With a minimum deposit of $100, a prospective user can open an account on the broker and have access to its over 20 exotic forex pairs to choose from. The brokerage’s clients can choose any of the popular payment methods such as Bank Guarantees, Wire Transfer, Credit Card, and Custodian Banks.

The broker accepts some currencies such as the USD, EUR, CHF, and JPY. It also offers a multi-language support system in German, English, Japanese, French, Arabic, and Chinese.

89
Rated: Excellent
Security 96
Cost 66
Trading 100
Education 71

Platforms: Mirror Trader, Proprietary Web Platform Regulations: FSA, FINMA, FCA, MIFID-ESMA Minimum Deposit: 100
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61.41% of retail CFD accounts lose money

7. Roboforex

This broker is headquartered in New Zealand and has been in the business for some 13 years. Since the multi-asset broker and online financial trading platform came on board in 2009, it has offered a wide range of Forex services, including low spread forex exotics. It has branches across Asia and Europe where it attends to the growing needs of its ever-increasing user base.

Heavily regulated by major regulatory bodies, Roboforex demands a minimum deposit of $10 to open a trading account and trade any of the less than 10 exotic forex pairs available on the platform.

For deposits and withdrawal, Roboforex supports an impressive number of options that include credit/debit cards such as MasterCard and VISA as well as eWallets like Skrill, Neteller, Perfect Money, and AdvCash.

Payoneer, WeChat Pay, WebMoney, Giropay, Yandex Money, Sofort, QIWI, Payoneer, and Bitcoin are other payment methods available to the brokerage’s users.

84
Rated: Excellent
Security 93
Cost 92
Trading 74
Education 75

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: 10
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76% of retail investor accounts lose money

8. LCG

This London-based broker has been in the business since 1996. It is a reputable brokerage that is committed to giving traders the best services and technology to make trading fun and rewarding. It is regulated by the duo of CySEC and FCA, credible and reputable regulatory bodies in the Forex trading industry.

Aside from its London office, the brokerage has offices in the Bahamas and Cyprus where it offers top-notching services to its clients across the globe.

Unlike most ECN brokers, LCG doesn’t require a minimum deposit amount to open a trading account on the broker. However, you must deposit enough funds that will cover the margin costs of whatever market you want to trade. For instance, if you apply for an ECN account, you need a minimum deposit of $10,000. Over 25 exotic forex pairs are available on LCG.

The brokerage accepts several payment methods such as Southeast Asia Real-Time Banking, Visa/MasterCard, Neteller, UnionPay, and Skrill Moneybookers.

82
Rated: Excellent
Security 95
Cost 72
Trading 77
Education 77

Platforms: MT4 Dekstop, MT4 Web, Proprietary Web Platform Regulations: FCA, MIFID-ESMA Minimum Deposit: 1000
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75.7% of retail CFD accounts lose money

9. ActivTrades

This Swiss broker has been serving the Forex trading community since 2001. It is well regulated, especially within Europe. Like LCG, ActivTrades doesn’t require a minimum deposit amount for any trader to trade any of the over 15 exotic forex pairs the broker supports.

Nevertheless, you must fund your account to enable you to trade any of the exotic forex pairs. The available deposit methods include credit/debit cards such as MasterCard or Visa and eWallets such as Neteller, SoFort, Skrill, and PayPal.

It will take you less than 30 minutes to complete the deposit and choose any pair you want to trade.

Although the broker doesn’t customarily charge a deposit fee, you may pay some fees if your bank charges you on wire transfers or if as an EU resident you are depositing from outside the continent in which case you are required to pay a 1.5% fee.

Irrespective of your location, ActivTrade offers you a platform where your needs are met. The broker is available for traders in over 10 languages such as French, English, Arabic, Cantonese, and Spanish. It also supports Russian and Mandarin Chinese. So, traders from every part of the globe have the opportunity to trade on the broker effortlessly.

79
Rated: Excellent
Security 94
Cost 74
Trading 72
Education 58

Platforms: Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, DFSA, Offshore Minimum Deposit: 1000
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74-89% of retail CFD accounts lose money

10. ADSS

ADSS is one of the biggest Forex brokers in the United Arab Emirates where it has been operational since 2011. Today, the highly regulated broker has offices across some European and Asian countries such as the United Kingdom and Singapore.  FCA, DFSA, FSRA, Central Bank of UAE, and SFC regulate its operations.

With a minimum of $100, a user can open a trading account on this broker and choose from any of the over 20 exotic forex pairs the broker supports. ADSS neither accepts cash deposits nor deposits through third parties.

The broker accepts payment through eWallets such as Skrill and credit/debit cards, majorly MasterCard and Visa. Deposits via any of these payment methods are processed instantly.

Withdrawal on this broker platform is pretty simple. However, you can only place a withdrawal request through the same platform you made the deposit. Without verifying your account by the company, you are forbidden from withdrawals.

If you ever need customer support, the brokerage provides it in a wide range of languages like Spanish, English, Russian, and Hindi. Other supported languages are Vietnamese, Russian, Urdu, and Thai.

79
Rated: Excellent
Security 93
Cost 75
Trading 73
Education 62

Platforms: Proprietary Web Platform Regulations: FCA, SFC, DFSA Minimum Deposit: 100

What are FX exotics?

In Forex, there are three main tradable pairs. These are:

  • Major: This usually includes the USD, the most traded and used currency.
  • Minor: This is across-currency pairs that include major currencies such as GBP, EUR, and AUD. It doesn’t include the USD.
  • Exotic: In this group are emerging economy currencies such as MXN, TRY, ZAR, and a host of others. The term also covers currencies of smaller economies such as DKR, NOK, and others.

High volatility and low liquidity are two of the major qualities of exotic pairs. Thus, a wide spread is applied to them. They are also less stable than major currencies, less predictable, and susceptible to change.

Exotic pairs are riskier and thus, new traders are advised to keep off from them since trading them requires tons of trading experience.

What are the Most Popular Forex Exotic Pairs?

Trading exotic forex pairs is quite risky. Nevertheless, it offers a great profit opportunity. The pair consists of an emerging currency and a strong currency.

Some of the most commonly traded exotic pairs are:

  • USD/THB (American Dollar/Thailand Baht)
  • JPY/NOK (Japanese Yen/Norwegian Krone)
  • EUR/TRY (Euro/Turkish Lira)
  • GBP/ZAR (Sterling/South African Rand)
  • AUD/MXN (Australian Dollar/Mexican Peso)
  • USD/VND (American Dollar/Vietnamese Dong)

What Influences Forex Exotic Pairs?

Major currencies come from stable economies and as such are moved by interest rate differentials and economic data while exotic currencies are likely to be influenced by political and economic instability.

Generally speaking, forex pairs are influenced by the following:

  • Interest rate differentials
  • Political news
  • Economic statistics
  • Interest rate moves by central banks
  • Changes in monetary policy

These brokers offer their clients great opportunities to trade low spread forex exotics. Seize the opportunity to improve your trading skills and increase your income from trading your favourite pairs.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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