Compare the 4 best low spread forex brokers in 2024

Low spread forex brokers offer a way to cut costs when trading currencies. This guide compares the best low spread forex brokers for 2024.
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Updated: May 14, 2024
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This page helps you compare some of the best low and zero spread forex brokers around. We explain what low spread brokers are, what to consider before choosing one, and compare the top ones around. 

Best low spread forex brokers overall for 2024

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  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international trading*

What are the best low spread forex brokers?

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If you’re already familiar with low spread forex brokers then check out the table below. Our experts have selected the best brokers with the lowest spreads and you can sign up in just minutes. Alternatively, continue scrolling to learn more.

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1
Min. Deposit
£ 8
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2
Min. Deposit
£ 70
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
£ 0
Best offer
User Score
8.0
Open a free account in minutes
Go global with fee-free foreign exchange
Finance tracking made simple
Start Trading
Payment Methods:
Debit Card, Credit Card
Full Regulations:

Top 4 best low spread fx brokers, reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Plus500. Best for international trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you trade. Its technology driven platform gives access to forex futures for over 10 symbols. 

Plus500 has something for all types of forex traders, no matter what level of experience. Its low margin requirements (starting at $40) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

One of the features we like most about Plus500 is its bonuses. Not only does it have a low minimum deposit of $100, but you’ll also have the option to receive a bonus the first time you add funds to your account, so you can stretch your money a little further.

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is a low spread forex broker?

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It’s a company that allows you to trade the forex market while offering low spreads. The difference between the buy and sell price is known as the spread. Forex brokers who offer low spreads usually charge a fee or commission to make profit for themselves. Low spread brokers are generally suited to day traders who enter and exit the market frequently. 

What is low spread? 

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The spread is the difference between the buy and sell price of two currencies, and is measured in pips. A pip is a unit of measure used by traders to define the smallest change in value between two currencies. Low spread forex brokers offer trading accounts that have a very small difference between the buy and sell price. 

The table below shows the average spreads from the top 3 low spread forex brokers in 2024:

Product eToro spreads Plus500 spreads Revolut spreads
Stock CFDs 0.15% 0.10%
ETF CFDs 0.15% 0.10%
Forex CFDs From 1 pip 0.8 pips
Crypto CFDs 1% 2%
Index CFDs From 0.75 points 0.20%
Commodity CFDs From 2 pips 0.50%
View all tradable assets > eToro > Plus500 > Revolut >

How do low spread FX brokers work?

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Most brokers work in a similar way and act as a ‘middleman’ between a trader and the exchange. However, there are typically two ways in which they usually operate; dealing desk trading and no dealing desk trading. Both types let traders participate in the forex market, although they differ slightly in their models. Below we have briefly explained each. 

  • Dealing desk trading. This is when a broker acts as a dealer and takes the opposing side of a trade. Brokers working in this way usually have bigger spreads and are able to control prices.  
  • No dealing-desk trading. Using this type of broker gives traders direct access to the interbank market (where banks trade currencies with each other). This is the preferred method for most brokers and traders. Forex brokers using this model act as a ‘middleman’ to facilitate trades.

For a low spread or zero pip broker to make money, they will likely have to charge fees or commissions. Although there are other ways in which they make money which you can learn about below. 

  1. Rebates. If a broker is offering traders no spreads, they may earn a rebate on your position to make money for themselves. They do this by routing your order to a third-party market-maker who will pay them a commission. 
  2. Act as a dealer. As we’ve mentioned in the section above, brokers can operate as dealers. This means that they take the opposite side to your trade to manage their risk. Brokers also know that most retail traders lose money, so by using this method they are able to generate profits while offering zero pip spreads. 
  3. Charge a fee. The most common way for 0 pip brokers to earn money from traders is by charging a fee or commission. This is added as a separate charge when a trader opens and closes a position. 

Here are the most common fees charged by the best low spread forex brokers:

Fee eToro fees Plus500 fees Revolut fees
Trading fees Yes, on certain assets No
Inactivity fees Yes Yes
Rollover/overnight fees Yes, on CFDs Yes
Withdrawal fees Yes No
Spreads Yes, on certain assets Yes
Conversion fees Yes, for non-USD currencies Yes
View more > eToro > Plus500 > Revolut >

The best low spread forex brokers for beginners and experienced traders

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There are lots of low spread forex brokers around and choosing the right one for your needs can be a difficult task. That’s why we’ve selected both the top forex brokers with zero or low spreads for experienced and beginner traders alike. 

The top low spread broker for beginners

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For newer traders an easy to use platform is a key requirement. Beginners will also want low fees and a broker who has a range of educational material. Click the button below to register with our top low spread broker for beginners.

1
Min. Deposit
£ 8
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The top 0 pip broker for experienced traders

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Traders with more experience will have a longer list of requirements. A wide range of currency pairs, technical tools and low fees will be top of that list. The broker below offers all of that and is our top recommended low spread forex platform for experienced traders.

1
Min. Deposit
£ 70
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What should I look for in a low spread trading platform?

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There are a number of features that you’ll want to look for when choosing a low spread trading platform and in the section below we’ve highlighted some of the most important ones. 

Reliable platform

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For all traders, reliability is key. The best forex apps are consistently online, don’t suffer much downtime, or crash frequently. A safe, secure, and most importantly reliable platform can save traders lots of time and money. One of the best ways to learn if a broker is reliable is by reading customer reviews. 

Low fees

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If you’re planning on using a zero pip forex broker, you’ll most likely be subjected to trading fees and commissions on every transaction. Ideally, they’d also be low spread brokers, though checking a brokers trading terms and conditions is the best way to find out their fee and commission structure. Below are the fees charged by the best low spread brokers:

Asset eToro fees Plus500 fees Revolut fees
Cryptocurrencies 1% From 2%
Commodities From 2 pips From 0.04%
Currencies From 1 pip From 0.8%
Indices From 0.75 pts From 0.7%
Stocks 0% commission From 0.08%
Stock CFDs 0.15%
ETF CFDs 0.15%
View more > eToro > Plus500 > Revolut >

Large choice of currency pairs

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Most traders opting for a 0 pip forex broker will likely be day traders or scalpers. Finding a broker with a large choice of currency pairs to trade is helpful as you’re able to spread your money across a range of pairs. Most brokers will offer the major pairs, but if you’re interested in trading the exotics, then make sure to check before joining that the broker offers them. 

Here are the most common forex pairs you’ll be able to trade when using a low spread forex broker:

Currency pair Currency pair Currency pair
USD/AUD USD/EUR USD/GBP
USD/NZD USD/CAD USD/JPY
USD/CHF EUR/AUD EUR/CHF
EUR/GBP EUR/JPY EUR/NZD
GBP/AUD GBP/CAD GBP/CHF
GBP/JPY GBP/NZD AUD/CAD
AUD/JPY AUD/NZD CAD/CHF
CAD/JPY CAD/NZD CHF/JPY
NZD/CHF NZD/JPY USD/HUF
USD/MXN USD/RUB USD/ZAR
View more > eToro >

Technical tools 

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The best platforms have a broad range of technical tools which can be easily overlaid onto price charts. Technical analysis is a popular trading method and for many traders, the use of indicators and other tools is an important aspect of trading. Before joining a zero pip broker it’s a good idea to check what tools they offer. Most brokers offer this service for free. 

Regulation

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Choosing a regulated broker is important because it protects your money incase anything happens. All regions and countries will have their own regulation so its important to check what applies to you. In the United States, picking a broker who is regulated by the CFTC is important. 

Quick answers to key questions

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How much are fees and commissions?

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That will depend on the broker’s terms and conditions so it’s worthwhile checking the fee schedule prior to joining. It’s highly likely that a low spread broker will have other charges that you’ll need to take into account. 

Do low spread brokers offer other markets?

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Yes, many online low commission forex brokers also allow you to trade other financial assets. With the rise in cryptocurrencies in recent years, lots of brokers have started to include top coins like Bitcoin or Ethereum. Other instruments you can usually trade are stocks, commodities, and ETFs. It’s always a good idea to check what’s on offer before registering.

Product eToro assets Plus500 assets Revolut assets
Stock CFDs 3117 1,800+
ETF CFDs 317 100+
Forex CFDs 49 50+
Crypto CFDs 73 40+
Index CFDs 20 20+
Commodity CFDs 26 20+
NFTs 100,000
View more > eToro > Plus500 > Revolut >

Exact figures may vary. NFTs are accessed through Delta, an NFT explorer app which is owned and operated by eToro.

Do I have to download any software to use a 0 pip broker?

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Not always, although most brokers have specialised trading software available for all of their users. The most common among retail forex traders are MT4 and Tradingview. If you decide you don’t want to download anything, then all brokers offer an option to place trades directly from their websites. 

Can I trade from my phone?

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Yes, all the top low spread forex brokers have apps which you can download to your mobile device. However, forex mobile trading apps will likely have less features than desktop platforms. Using a mobile trading app is a great way to keep on track of your open trades while you’re out and about. 

Should I use a low spread broker to trade forex?

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Using a broker is the easiest and most times only way to trade the forex market. Using a 0 pip broker is a good idea, especially for anyone who uses day trading or scalping strategies. Zero pip brokers may not always offer no spreads, however on average their spreads will be zero, or close to zero. 

Still undecided?

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This page has already covered a lot of information, but if you are still undecided about joining a low spread forex broker, check out the pros and cons below.

Pros

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  • Zero pip brokers have no spread between the buy and sell price meaning your costs of trading will be lower. 
  • Brokers who offer low spreads are ideal for day traders or scalpers who make many trades throughout the day. 
  • Most 0 pip forex brokers offer leverage, meaning you can profit from very small moves in the market. 
  • It is possible to use a mobile device when trading forex so you’re able to keep track of your positions while on the go. 
  • The top brokers all offer a broad range of technical tools making market analysis a much easier process. 
  • Some 0 pip brokers offer forex trading signals or copy trading functions so you’re able to use the expertise of an experienced trader while learning.

Cons

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Should I trade forex now?

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If you think you have the knowledge required, then yes it could be a good time to start trading now. The first thing you will need to do is register with a low spread broker which you can do by clicking on the links further up the page. It’s also a good idea to stay on top of the latest forex news and analysis.

Latest forex news

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Long NZD: bullish reversal targets 0.62798 amid weakening US dollar and rate cut expectations
The NZD/USD pair has shown a bullish reversal pattern, breaking above key resistance levels, indicating a strong upward momentum. The US Dollar has retreated following a softer-than-expected CPI release, confirming expectations for a September rate cut by the Federal Reserve. The Fed is now less con
Long AUD: bullish breakout above support signals potential upward trend towards 0.69602
The AUD/USD pair has recently broken out of a long-term downtrend, showing signs of bullish momentum. It found strong support at the 0.66419 level and is now trading above 0.67796. The pair’s movement indicates a potential upward trend continuation, with targets set at 0.68493 (TP1) and 0.6960
Choose a low spread broker

Methodology: How we choose the best 0-pip and low spread forex brokers

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find foreign exchange platforms that offer a beginner-friendly, secure trading experience at a low price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each forex broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual brokers to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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Do 0 pip forex brokers offer bonuses?
Is it better to join a 0 pip broker or go for low fees?
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What are the benefits of a low spread broker?
Sign up to a low spread forex broker


Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.