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 that start from 0.0 pips for major currency pairs. However, this account charges a commission depending on the trading platform a trader uses. When using MetaTrader 4 and MetaTrader 5 forex traders pay a commission of $3.5 per side per lot or €2.6 per side per lot for traders on a EUR account. TradingView users also pay a commission of $3.5 per side per lot. In contrast, traders on cTrader pay a commission of $3 per side per lot. If a trader is using TradingView or cTrader platforms and has an account in a currency other than USD, then the commission will be converted at the spot rate in their account currency. 

Positively, this account gives traders access to over 1,200 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.

75.9% of retail CFD accounts lose money

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.

72.92% 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. There are two different accounts where Exness provides the lowest raw spreads possible with a small commission charged. The Raw Spread account requires investors to pay a commission of up to $3.5 per side per lot. Additionally, Exness offers the Zero account, which features spreads from 0.0 pips on the top 30 instruments. The commission on this account is from $0.05 per side per lot. To start trading on these two accounts, investors need to make a minimum deposit of at least $500*.

In terms of market products, this account 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 CySEC, the FCA, the FSCA, and the CMA in Kenya. While Exness is regulated in the UK and EU, it is important to note that they do not accept retail traders from the UK and EEA countries.

Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital.
Please ensure you fully understand the risks involved.

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

Forex.com

Forex.com provides a raw spread account to both its traders in the US and those outside of the US. The spreads on the accounts start from as low as 0.0 pips regardless of where a trader is from. However, the commission is different depending on whether a trader is in the US or outside the US. For traders in the US, the commission charged on this account is $7 per $100,000 traded. In contrast, traders outside the US pay a commission of $5 per $100,000 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 from most countries have access to over 5,500 different instruments. Traders outside the US can access CFDs on forex, stocks, indices, cryptocurrencies, commodities, and precious metals. In contrast, traders within the US have access to forex, futures, and futures options. 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 has regulations by the CFTC and NFA in the US, the FCA, the CySEC, and the ASIC, among others. These are some of the best regulators in the market today.

74-76% of retail investor accounts lose money when trading CFDs with this provider.

FXTM

FXTM is another popular choice for traders seeking a raw spread account. On FXTM’s Advantage account, traders can access raw spreads starting from as low as 0.0 pips. However, a commission applies depending on the asset a client is trading. For forex trades, the commission sits at $3.5 per side per lot. The minimum deposit to start trading on this account is $200.

This account gives traders a deep collection of market instruments including CFDs on forex, stocks, commodities, indices, cryptocurrencies, and shares. To trade these different global markets, investors can use MetaTrader 4, MetaTrader 5, and FXTM Trader. The MetaTrader platforms are especially popular due to their intuitive nature and collection of advanced trading tools.

To close out on this broker, let’s see how it is regulated. Well, it holds regulatory licenses from a variety of financial regulators. These include the FCA, the CySEC, the CMA, and the FSC in Mauritius. 

IC Markets

IC Markets is the final broker we will feature in this article. Its Raw spread account is only available on MT4 and MT5 and features spreads from as low as 0.0 pips plus a small commission of $3.5 per side per lot. As an example, the average spread on the EURUSD pair is a low 0.1 pips. The minimum deposit required to open this account is $200.

IC Markets offers access to over 2,000 instruments, including CFDs on forex, stocks, indices, commodities, cryptocurrencies, and bonds. Traders can choose from various trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. All of these platforms offer sophisticated trading tools for diverse strategies. In terms of regulation, IC Markets is licensed by several reputable authorities. These include the ASIC, the CySEC, the FSCA, and the CMA.

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.