Trading costs are of great concern for any financial market trader. However, trading costs have been in decline as the brokers are efficiently working to offer smooth transactions.
There are low spread forex brokers available in the market. But traders have to be careful and aware to find the best one. Therefore, to guide traders we have a brief discussion on low spread forex brokers that would support smooth market trading in currency pairs.
Table of Contents
What is a Spread Forex Broker?
Forex brokers provide their clients with low-spread trading accounts. In this, the difference between the bid and the asking price of an asset or even spread is zero. Such brokers make entry and exit from the market easy.
Traders need not worry about incurring costs as there are no additional commissions or fees.
Best Low Spread Forex Broker
The market is full of financial brokers and service providers. However, choosing the best one is a task. Traders have to research and compare to understand the suitable broker.
Below we have the best low spread forex broker that currency traders can choose from and make successful trades:
Tickmill
Tickmill is considered the best for its low cost services. It is a financial forex broker that was founded in 2014. The headquarters of the company is in London, United Kingdom.
The minimum initial deposit at the firm is $100 and the trust score of the company is 82. It has a good market reputation making it the best for forex traders. The broker is regulated by the Financial Conduct Authority.
The spreads at the platform begin from 0.07 pips as a typical spread for EUR/USD on the pro account. For the VIP account, the spreads are from 0.27 pips. Considering the account traders can have the following spreads with Tickmill:
- Average spread (EUR/USD Standard): 0.51 pips
- All-in-cost (EUR/USD Active): 0.31 pips
IG
IG Group is a well-established financial service provider. Providing its services in 20 countries across five continents, it is a great platform for low-cost forex traders to trade.
The forex broker was founded in 1974 and has headquarters in London, United Kingdom. Traders can easily open their accounts with the broker with a minimum deposit of $250.
The publicly traded company is regulated by ASIC, JFSA, MAS, FINMA, FCA, FMA, and CFTC. Besides, the trust score of the company is 99 because of high regulations.
The spreads at the platform are low. The average spreads are 0.768 pips and in low liquid times, the average spreads are 0.994 pips. While the all-in cost is 0.60 pips. Every account type has its spreads as per the market.
CMC Markets
CMC Markets was founded in 1989 and is a UK-based financial services company. It offers online trading in various asset classes. The headquarters of the company are in Sydney and Singapore.
Also, the firm is listed on the London Stock Exchange. The minimum deposit of the company is $0 and it has a trust score of 99. The regulatory authorities of the company are ASIC, IIROC, MAS, FMA, and FCA.
The minimum spread of the platform is 0 pips and the all-in cost spread results in 0.5 pips. The standard account offering of the platform has 1.5 pips and all-in cost of 0.5 pips.
So, the spreads on the platform are:
- The average spread EUR/USD standard is 0.51 pips
- All-in cost EUR/USD Active is 0.51 pips
Conclusion
The article focuses on the best low-spread forex brokers. Traders can analyze the services and choose the suitable one. The spreads of the platforms are low and average for traders.
The cost of trading will be low for traders and they can make efficient trades online using the supportive services of the platform. Tickmill, IG, and CMC Markets are regulated brokers and have the best of services.
Each one has different spreads and traders can choose the one which is suitable for their trading.
Oliver is a professional blogger and a seasoned business and finance writer. With a passion for simplifying complex financial topics, he provides valuable insights to a diverse online audience. With four years of experience, Oliver has polished his skills as a finance blogger.
