In page navigation
- 1. Compare the best zero pip spread forex brokers in 2023
- 2. Best 0 pip forex brokers overall for 2023
- 3. What are the best 0 pip forex brokers?
- 4. Top 5 zero pip forex brokers, reviewed
- 5. What is a 0 pip forex broker?
- 6. The best 0 pip forex brokers for beginners and experienced traders
- 7. What should I look for in a 0 pip trading platform?
- 8. Quick answers to key questions
- 9. Should I use a 0 pip broker to trade forex?
Compare the best zero pip spread forex brokers in 2023
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
Get started in minutes with our preferred broker, .
10/1077% of retail CFD accounts lose money.
This beginner friendly guide helps you choose the best 0 pip forex broker. We explain what 0 pip & zero spread brokers are, what to look out for when choosing one, and compare the best platforms available. Continue scrolling to learn more about 0 pip forex brokers.
Best 0 pip forex brokers overall for 2023
- eToro: Best for beginners, copy-trading & demo-account
- Capitality: Best for trading like a pro
What are the best 0 pip forex brokers?
If you’re ready to start trading forex straight away check out the brokers in the table below. These are some of the best rated forex brokers around offering 0 pip spreads. Simply click the links to sign up in just a few minutes.
77% of retail CFD accounts lose money.
Top 5 zero pip forex brokers, reviewed
1. eToro. Best for beginners, copy-trading & demo-account
1500
No. assets
$10
Minimum deposit
Forex
Platform type
Pros & Cons
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 CFD 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.
77% of retail CFD accounts lose money.
2. Capitality. Best for trading like a pro
...
No. assets
...
Minimum deposit
Forex
Platform type
Pros & Cons
Overview
We love Capitality because it gives regular investors the means to trade with pro data and tools. Capitality offers 2100+ financial instruments, including 80 currency pairs.
The Capitality web trading terminal gives you access to live market data, real time quotes, and super-fast trade execution, all without needing to download anything. There’s also a free economic calendar that lets you know when the big financial events happen so you can plan your trades accordingly.
The fees: Capitality charges its fees through the spread. Spreads start from 0.1 pips for major forex pairs but can be significantly higher for minor and exotic pairs.
What is a 0 pip forex broker?
It is an online company that allows you to trade the forex market while having zero pip, or close to zero pip spreads. Not all brokers will have zero pip spread all the time and it can vary throughout the day. Brokers offering this service often make money through commissions and fees.
What is a 0 pip spread?
A pip is a unit of measure used by traders to define the smallest change in value between two currencies. Spread is the difference between the buy and sell price of two currencies. Zero pip forex brokers offer trading accounts that have no difference between the buy and sell price, or have spreads that average close to zero.
How do 0 pip FX brokers work?
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 zero pip broker to make money, they will likely charge fees or commissions. Although there are other ways in which they make money which you can learn about below.
- 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.
- 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.
- 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.
The best 0 pip forex brokers for beginners and experienced traders
Some 0 pip forex brokers cater to beginner traders, while others are more suitable for experienced traders. Below we’ve selected the best brokers for all levels of experience.
The top 0 pip broker for beginners
For novice traders an easy to use and simple platform is a key requirement. Additionally a broker that offers low fees and commissions is important. Click the button below to sign up to our top rated broker for beginners.
The top platform for experienced traders
For more experienced traders the list of requirements will be longer. A wide range of currency pairs, more technical tools together with low fees and commissions will be top of the list. The broker below offers all of that and is our top rated platform for experienced traders. Click the button to sign up in just minutes.
What should I look for in a 0 pip trading platform?
There are a few things to look out for when choosing the best 0 pip trading platform and in the section below we’ve highlighted the main ones.
Reliable platform
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
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 spreads brokers, though checking a brokers trading terms and conditions is the best way to find out their fee and commission structure.
Large choice of currency pairs
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.
Technical tools
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
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 Kingdom, picking a broker who is FCA regulated is important.
Quick answers to key questions
Do I have to download any software to use a 0 pip broker?
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?
Yes you almost certainly can. While every broker will vary in what they offer, most have apps which can be downloaded to your mobile device. Using mobile apps is an excellent way to keep track of your open trades while on the go. Although, conducting technical analysis from a phone can be tricky and its best to use a device with a larger screen.
Do 0 pip forex brokers offer other markets?
Most of the time they do, although you’ll need to check if the zero pip spread still applies to other assets. Many of the top brokers let you trade a range of financial instruments including stocks, indices, commodities, and crypto currencies. Having different assets to trade is a great way to diversify your trading portfolio.
How much are fees and commissions?
It’s difficult to give an exact figure as it will range from broker to broker. So it’s worthwhile checking the trading terms and fee structure prior to joining. When using a 0 pip forex broker it’s highly likely that you’ll be paying fees or commissions. Checking before joining is the best way to find out how much you will pay each time you trade.
Should I use a 0 pip broker to trade forex?
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 daytrading or scalping strategies. Zero pip brokers may not always offer no spreads, however on average their spreads will be zero, or close to zero.
Forex trading requires some experience because it’s often fast-paced and requires a bit of technical knowledge. There is a lot to learn before you get started and reading online courses is a great place to get started.
Still undecided?
This guide has already covered a lot of information on 0 pip forex brokers, but if you’re still undecided we’ve included a pros and cons list below.
Pros
- Zero pip brokers have no spread between the buy and sell price meaning your costs of trading will be lower.
- Brokers who have 0 pip 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
Should I trade forex now?
If you think you are ready to trade then yes, you should start now. The first thing you will need to do is register with an online 0 pip forex broker, which you can do by clicking through to the links we’ve provided on this page. It’s also helpful to keep up to date with the latest forex news and market analysis by clicking the links below.
Latest forex news
Where can I learn more about forex trading?
Right here on Invezz. You can check out our forex learning hub where we have free online courses on how to trade the currency market. We also have pages on technical and fundamental analysis and many other FX-related educational material. Click on any of the links below to learn more.
Forex trading courses
What Is Quantitative Easing and Does It Work?
What is a PAMM Account?
How to Use Forex Signals
More of the best forex rankings
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >