Best Raw Spread Forex Brokers

A key factor that significantly impacts a trader’s experience is the fees they incur while trading. In forex trading, the primary fee associated with trades is the spread. This is the difference between the buying and selling prices. Every pip counts as traders aim to minimise trading costs. Many traders prefer raw spread accounts, as these provide direct access to interbank pricing. 

Such accounts often offer some of the lowest spreads, starting from 0.0 pips. In this guide, we will look at some of the best raw spread forex brokers, highlighting their unique features, benefits, and suitability for different trading styles. But before we list the individual brokers, it is good to understand how raw spread accounts work.

How Raw Spread Forex Accounts Work

A raw spread account provides direct access to interbank market spreads with no markup from the broker. Brokers usually charge a small commission on these accounts instead of marking up the spread. Normally, this setup appeals to high-volume traders, scalpers, and those who employ automated trading strategies like Expert Advisors (EAs). 

Considerations When Choosing the Best Raw Spread Forex Brokers

When selecting a raw spread broker, it's essential to consider the following features:

• Regulatory Oversight - Assessing a broker’s regulatory background is very crucial. Traders should Opt for brokers regulated by reputable authorities like the FCA, the ASIC, the CySEC, and other similar regulators.

• Commission Structure - While raw spread brokers offer tight spreads, they usually charge a small commission per trade. Understand the fee structure and ensure it is competitive and transparent.

• Trading Platforms Available - Traders should ensure they pick a forex broker that provides advanced trading platforms with intuitive interfaces.

• Collection of Market Products - Choosing a broker with a plethora of market products available allows investors to diversify their portfolio as they see fit.

Using the criteria outlined above, let’s take a look at some of the best raw spread forex brokers.

Pepperstone

Pepperstone is one of the most well-known forex brokers that offers its traders a raw spread account. Pepperstone's Razor account delivers ultra-low raw spreads starting from 0.0 pips on major currency pairs, though commission applies and varies by platform. On MetaTrader 4 and MetaTrader 5, traders pay $3.5 per side per lot, or €2.6 for EUR accounts. TradingView users pay the same $3.5, while cTrader users pay just $3 per side per lot. On TradingView and cTrader, accounts denominated in a currency other than USD have the commission converted at the spot rate.

Positively, this account gives traders access to over 1,400 different market instruments. In particular, traders have access to CFDs on forex, indices, commodities, cryptocurrencies, currency indices, ETFs, and share markets. As such, investors can explore more than one global market on the same trading account. The trading platforms available to trade these market products include MetaTrader 4, MetaTrader 5, TradingView, cTrader, and Pepperstone Trading Platform.

On another note, Pepperstone is a regulated broker around the world by various institutions. This broker holds regulatory licences from the FCA in the UK, the CySEC in Cyprus, the ASIC in Australia, and the BaFin in Germany, among others. Such multi-regulatory oversight is one of the reasons why Pepperstone is one of the best raw spread brokers in the world.

72.9% of retail CFD accounts lose money

Exness

Exness is another broker that stands out as a top choice among raw spread brokers for both novice and experienced traders. Exness offers two account types with spreads from 0.0 pips that charge commissions. The Raw Spread account features a commission of up to $3.5 per side per lot. For traders seeking potentially even lower commission costs, Exness also provides the Zero account, which offers access to the top 30 instruments with commissions starting from $0.05 per side per lot. Both accounts require the same $200* minimum deposit.

In terms of market products, the broker gives traders access to CFDs on forex, metals, cryptoсurrencies, energies, stocks, and indices. With this extensive collection of market products, traders can easily diversify their portfolios. Traders can utilise a range of powerful platforms, including MetaTrader 4, MetaTrader 5, the Exness Trader app, and the Exness Terminal. These platforms offer a suite of advanced tools to support diverse trading strategies.

Finally, Exness operates under the strict supervision of a variety of institutions. This broker is authorised and regulated by the FSCA, CySEC, the FCA, and the CMA in Kenya.

Your capital is at risk. Leveraged products may not be suitable for everyone.

Tickmill

Tickmill is another well-regarded forex broker known for its competitive raw spread accounts. This broker offers two different raw spread accounts that include the Raw account and the Tickmill Trader Raw account. Both of these accounts offer spreads from as low as 0.0 pips with an accompanying commission. The commission is $3 per side per lot on the Raw account and $3.5 per side per lot on the Tickmill Trader Raw account. The minimum starting deposit for both of these accounts is $100.

Another one of Tickmill’s key strengths is its regulatory background. It holds regulatory licenses from several institutions including the FCA, the CySEC, the ASIC, and the FSA in Seychelles. Multiple regulations are always a good sign on a broker site.

In terms of market products, Tickmill gives its traders access to over 600 market instruments. These include CFDs on forex, stock indices, metals, bonds, commodities, and cryptocurrencies. The trading platforms available to use include MetaTrader 4, MetaTrader 5, and mobile apps

72-73% of retail investor accounts lose money when trading CFDs with this provider.

Forex.com

Forex.com provides a raw spread account with spreads on FX majors as low as 0.0 pips. The commission charged on this account is $5 USD per $100,000 USD traded. The minimum deposit required to start trading with Forex.com is $100.

This broker gives its clients access to a deep collection of market products. Traders have access to over 5,500 different instruments, including CFDs on forex, stocks, indices, cryptocurrencies, commodities, and precious metals. The trading platforms available to traders on this broker site include MetaTrader 4, MetaTrader 5, TradingView, and Forex.com Trader.

Finally, Forex.com is one of the most heavily regulated brokers in the world. It holds regulation from the FCA, the CySEC, and the ASIC, among others. These are some of the best regulators in the market today.

75% of retail investor accounts lose money when trading CFDs with this provider.

FP Markets

FP Markets is a CFDs broker headquartered in Australia that provides its traders with a raw spread account. On this account, FP Markets provides raw spreads that start from as low as 0.0 pips but charges a small commission. The commission involved when trading on the FP Markets Raw account is $3 per slide per lot. This account is only available on MT4 and MT5. To start trading on this account, traders need to deposit at least $100.

On another note, this account gives traders plenty of investment options. On this broker site, clients can trade instruments from the forex, indices, metals, stocks, commodities, ETFs, cryptocurrencies, and bonds markets. In total, FP Markets provides traders with over 10,000 different CFD market instruments. To trade these products, clients can use a variety of platforms. These include MetaTrader 4, MetaTrader 5, TradingView, and cTrader.

Further, FP Markets holds regulatory licenses from various institutions. These include the CySEC in Cyprus, the ASIC in Australia, and the FSCA in South Africa, among others. While regulations alone are never enough, brokers with multiple regulatory licenses are considered safer than those without.

74.73% of retail CFD accounts lose money

IC Markets

IC Markets is the final broker we will feature in this article. The broker offers both raw and standard accounts, with pricing split across three options in total, so traders can pick the cost structure that fits how often they trade and which platform they prefer. The Raw Spread account on MetaTrader 4 and MetaTrader 5 starts at 0.0 pips and charges a commission of $3.50 per side per lot. Traders who prefer the cTrader Raw Spread account, which is available on cTrader and TradingView, also get spreads from 0.0 pips, but the commission drops to $3.00 per side per lot. That difference is small on any single trade, yet it adds up quickly for anyone running high volume or scalping strategies.

The third option, the Standard account, takes the opposite approach entirely. Spreads here start from 0.8 pips and there is no commission at all, which appeals to traders who would rather see one number and skip the extra calculation on every position. Whichever of the three a trader picks, the minimum deposit needed to open the account is $200.

Positively, the instrument list runs to more than 2,200 CFDs. Traders get access to forex, indices, metals, energies, commodities, stocks, bonds, cryptocurrencies, and futures, which gives an active trader plenty of room to spread risk across asset classes rather than concentrating it in a single market. Platform choice is a genuine strength here as well, since MetaTrader 4, MetaTrader 5, cTrader, and TradingView are all on the table. Each one brings its own charting, automation, and order management tools, so the broker suits both traders who lean on expert advisors and those who trade discretionarily off a chart.

On another note, IC Markets is licensed by several reputable authorities. These include the ASIC in Australia, the CySEC in Cyprus, the FSCA in South Africa, and the CMA in Kenya. 

72.31% of retail CFD accounts lose money

Closing Remarks

Raw spread forex brokers offer a compelling proposition for traders seeking to optimise their trading experience. They offer a cost-effective option for traders looking to minimise trading costs through ultra-low spreads. With direct access to interbank pricing and a transparent commission structure, these accounts cater best to high-frequency traders, scalpers, and those using automated trading strategies. 

This guide explored the concept of raw spread forex accounts and highlighted some of the best brokers offering them. When choosing a raw spread forex broker, consider factors like regulatory oversight, commission structure, trading platforms, and available market products. While each broker has unique features, the key to successful trading lies in finding a broker that best aligns with your individual trading needs and preferences.