Best Low Spread Forex Brokers 2026

IC Markets offers the lowest total trading costs in our audit, with raw spreads averaging 0.10 pips on EUR/USD and a $6/lot commission on cTrader. Pepperstone and FP Markets are within fractions of a pip. For traders who measure their edge in pips, these are the brokers that take the least from each trade.

Spreads are the single largest ongoing cost for most forex traders. A difference of 0.5 pips on EUR/USD might sound trivial, but across 100 trades per month at 1 lot each, that's $500. Over a year, it's $6,000. The broker you choose for spread pricing has a direct, measurable impact on your bottom line.

Affiliate disclosure: We may earn a commission if you open an account through links on this page. This doesn't affect our rankings. How we rate brokers.

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What Makes a Low Spread Broker?

We measure total trading cost, not just the headline spread. A broker advertising "spreads from 0.0 pips" means nothing without knowing the commission. Here's what we compare:

Raw spread + commission = all-in cost. IC Markets' cTrader at 0.10 pips + $6/lot gives an all-in cost of approximately 0.70 pips equivalent. Pepperstone's Razor at 0.10 pips + $7/lot comes to roughly 0.80 pips. We rank on all-in cost.

Spread consistency matters too. Average spreads during liquid London/New York sessions can be very different from overnight or news event spreads. We use average spread data that reflects typical trading conditions.

No hidden costs. Inactivity fees, withdrawal charges, and wide swap rates can erode the savings from tight spreads. We factor these in.

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Our Top Picks

#1 IC Markets | Lowest All-In Cost

Score: 84.2 / 100 | EUR/USD: 0.10 pips | Commission: $6/lot (cTrader)

IC Markets' cTrader Raw account delivers the lowest all-in trading cost in our review. The $6/lot commission is the cheapest on cTrader, and raw spreads regularly hit 0.0 pips during high-liquidity sessions. Four platform options (MT4, MT5, cTrader, TradingView), no inactivity fee, and ECN execution make this the cost leader.

Read the full IC Markets review

#2 Pepperstone | Best All-Rounder for Low Cost

Score: 88.6 / 100 | EUR/USD: 0.10 pips | Commission: $7/lot (Razor)

Pepperstone matches IC Markets on raw spreads and trails by $1/lot on commission. It compensates with the strongest overall audit score (88.6), FCA/ASIC regulation, $0 minimum deposit, and the widest platform selection. If you want the lowest spreads with the best overall package, Pepperstone is the answer.

Read the full Pepperstone review

#3 FP Markets | Best Value Raw Spreads

Score: 83.4 / 100 | EUR/USD: 0.10 pips | Commission: $6/lot (Raw)

FP Markets ties IC Markets on both spread and commission. The differentiator is 10,000+ instruments including DMA shares, versus IC Markets' 2,250+. ASIC and CySEC regulated. A strong choice for traders who want low costs and broad market access.

Read the full FP Markets review

#4 Exness | Lowest Entry + Low Spreads

Score: 81.0 / 100 | EUR/USD: 0.10 pips | Commission: $7/lot (Raw Spread)

Exness combines tight raw spreads with a $10 minimum deposit and instant free withdrawals. The Pro account offers 0.10 pip spreads with no commission at all, which may be the best value option for traders who dislike per-lot charges. Most clients trade through offshore entities.

Read the full Exness review

#5 Tickmill | Cheapest Commission

Score: 80.3 / 100 | EUR/USD: 0.10 pips | Commission: $6/lot (Raw)

Tickmill ties with IC Markets and FP Markets on the $6/lot commission. No inactivity fees, no deposit/withdrawal fees. The limitation is a smaller instrument range (~600). Pure forex traders won't miss what's not there.

Read the full Tickmill review

#6 ThinkMarkets | Best Spread-Only Value

Score: 78.7 / 100 | EUR/USD: 0.40 pips | Commission: $0 (Standard)

ThinkMarkets' Standard account averages 0.40 pips on EUR/USD with no commission. That's a lower all-in cost than many competitors' raw spread accounts after commissions. If you prefer zero-commission simplicity with still-tight spreads, ThinkMarkets deserves a look.

Read the full ThinkMarkets review

#7 CMC Markets | Low Spreads + Largest Range

Score: 83.5 / 100 | EUR/USD: 0.70 pips | Commission: $0 (Standard)

CMC Markets averages 0.70 pips with no commission, which is competitive for a spread-only model. The real appeal is 330+ forex pairs and 12,000+ total instruments under LSE-listed, FCA/ASIC/BaFin/MAS regulation.

Read the full CMC Markets review

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Quick Comparison Table

| Broker | EUR/USD Spread | Commission/Lot | All-In Cost (approx.) | Min. Deposit | Inactivity Fee | |--------|---------------|---------------|----------------------|-------------|----------------| | IC Markets | 0.10 pips | $6 (cTrader) | ~0.70 pips | $200 | None | | Pepperstone | 0.10 pips | $7 (Razor) | ~0.80 pips | $0 | None | | FP Markets | 0.10 pips | $6 (Raw) | ~0.70 pips | $100 | None | | Exness | 0.10 pips | $7 (Raw) | ~0.80 pips | $200* | None | | Tickmill | 0.10 pips | $6 (Raw) | ~0.70 pips | $100 | None | | ThinkMarkets | 0.40 pips | $0 (Standard) | ~0.40 pips | $0 | $30/6mo | | CMC Markets | 0.70 pips | $0 (Standard) | ~0.70 pips | $0 | GBP 10/12mo |

*Exness Standard account is $10 minimum; Raw Spread requires $200.

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How We Rank Low Spread Brokers

Our low spread rankings prioritise the Trading Costs category score from our methodology. We compare average raw spreads on EUR/USD, GBP/USD, and USD/JPY, factor in commissions, and account for additional fees. Regulation and platform quality still matter, but cost is the primary sorting criterion.

For a full explanation of spread types, read our guide on fixed vs variable spreads. To understand the difference between ECN and market maker execution, see our ECN vs market maker guide.

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Tips for Minimising Trading Costs

Use raw spread accounts. The headline "spreads from 0.0 pips" usually delivers a lower all-in cost than spread-only accounts, despite the commission.

Calculate total cost per trade. Spread (in pips) x pip value + commission = your cost. Compare this across brokers for your typical trade size.

Watch for inactivity fees. Saving 0.3 pips per trade doesn't matter if you're paying $50/month during inactive periods.

Consider swap costs. If you hold positions overnight, swap rates vary significantly between brokers. Read our guide on hidden forex trading fees.

Trade during liquid hours. Spreads widen during Asian sessions and around news events. The tightest spreads occur during London/New York overlap (13:00-17:00 UTC).

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Frequently Asked Questions

Which forex broker has the lowest spreads? IC Markets, Pepperstone, FP Markets, Exness, and Tickmill all average 0.10 pips on EUR/USD on their raw spread accounts. IC Markets and FP Markets tie for lowest all-in cost at $6/lot commission.

Are zero spread accounts really zero? The "from 0.0 pips" figure represents the minimum, not the average. During high liquidity, spreads do hit 0.0 pips. The average across all sessions is typically 0.10-0.20 pips on major pairs.

Is a raw spread account better than a standard account? For most active traders, yes. The raw spread + commission model typically costs less per trade than the wider spread-only model. See our guide on how spreads work.

Do low spreads mean better execution? Not necessarily. Tight spreads and fast execution often correlate (ECN brokers typically offer both), but they're separate metrics. Read about execution speed for scalpers.

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Rankings by Neil C, BrokerAudit. Updated April 2026. Read our methodology.