6 brokers compared · 2026

Lowest spread forex brokers

For active traders, spread plus commission is the single biggest cost. Raw-spread and ECN-style accounts pass through interbank pricing and charge a fixed commission, which almost always beats commission-free accounts once you trade regularly.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IC MarketsRaw EUR/USD around 0.1 pips plus $7 (MT) or $6 (cTrader) per lot.
02PepperstoneRazor account with tier-1 regulation.
03FP Markets$6 round-turn on MT4/MT5.
04ExnessZero and Raw Spread accounts, plus very tight gold.
05Interactive BrokersInterbank pricing with basis-point commissions.
06VantageRaw ECN at $6 round turn.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	FP MarketsLow-cost cTrader and TradingView trading	4.4	1.0pips	$7all-in	$100	ASICCySECFSCA+3	MT4MT5cTraderTradingView	Visit Review
04	ExnessInstant withdrawals and very high leverage	4.1	1.0pips	$7all-in	$10	FCACySECFSCA+3	MT4MT5	Visit Review
05	Interactive BrokersProfessional and multi-asset traders	4.7	n/a	$5all-in	$0	SECFINRACFTC+7	Own platform	Visit Review
06	VantageRaw ECN pricing with TradingView	4.2	1.2pips	$6all-in	$50	ASICFCACIMA+2	MT4MT5TradingView	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IC Markets

Raw EUR/USD around 0.1 pips plus $7 (MT) or $6 (cTrader) per lot.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

Pepperstone

Razor account with tier-1 regulation.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

FP Markets

$6 round-turn on MT4/MT5.

4.4/5

FP Markets is an Australian ECN broker founded in 2005. Its Raw account charges $6 round turn with spreads from 0.0 pips, and it supports MT4, MT5, cTrader, TradingView and Iress for share trading.

Pros

Low $6 round-turn commission on Raw
Five platforms including cTrader and TradingView
ASIC, CySEC and FSCA regulation

Cons

Education is basic
Not available in the US or UK

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: ASICCySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, cTrader, TradingView

Exness

Zero and Raw Spread accounts, plus very tight gold.

4.1/5

Exness is one of the highest-volume retail brokers in the world, known for automated instant withdrawals, tight spreads on gold and majors, and very high leverage for eligible offshore clients. It is especially popular in South Africa, Asia and the Middle East.

Pros

Automated instant withdrawals on most payment methods
Tight spreads on gold (XAU/USD) and major pairs
Low $10 minimum deposit on Standard accounts

Cons

Most retail clients are served by offshore entities
Smaller product range than multi-asset brokers

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $10
Regulators: FCACySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, Exness Terminal, Exness Trade App

Interactive Brokers

Interbank pricing with basis-point commissions.

4.7/5

Interactive Brokers gives retail traders institutional forex pricing: spreads from about 0.1 pips and a small commission based on trade value. It is also the most complete multi-asset broker available, but its professional platforms have a steeper learning curve.

Pros

Interbank spreads with very low commissions
Trade forex alongside stocks, futures, options and bonds
S&P 500 listed with the strongest regulatory profile

Cons

Trader Workstation is complex for beginners
No MetaTrader support

EUR/USD: No spread-only account
Raw / lot: $5.0
Min. deposit: $0
Regulators: SECFINRACFTCNFA+6
Platforms: Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal

Vantage

Raw ECN at $6 round turn.

4.2/5

Vantage is an Australian-founded multi-asset broker with ASIC and FCA regulation, Raw ECN pricing at $6 round turn, TradingView integration and an in-app copy trading platform.

Pros

Raw ECN account with $6 round-turn commission
TradingView and MT4/MT5
Built-in copy trading in the Vantage app

Cons

Most international clients use the offshore VFSC entity
Research is limited

EUR/USD: 1.2 pips
Raw / lot: $6.0
Min. deposit: $50
Regulators: ASICFCACIMAVFSC+1
Platforms: MT4, MT5, TradingView, Vantage App

How we chose these brokers

All-in cost: Typical raw spread converted to dollars per lot plus round-turn commission.
Execution: Market execution with no requotes and fast fills.
Platforms: Support for EAs, cBots and TradingView.
Regulation: At least one tier-1 licence.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

What is an ECN broker?

ECN-style brokers route orders to liquidity providers and charge a commission instead of marking up the spread.

Are zero-spread accounts really free?

No. Zero or raw spread accounts charge a commission per lot, usually $6 to $7 round turn.

Which is cheaper: raw or standard accounts?

For most active traders, raw accounts are cheaper. A 0.1 pip spread plus $7 commission costs about $8 per lot, versus about $10 to $16 on a 1.0 to 1.6 pip standard account.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.