Lowest EUR/USD Spread Forex Brokers

Most traders in the market understand that the spreads a broker offers are the primary fee they have to pay when trading. This is why traders are always looking for the lowest brokers in the market. Needless to say, the most traded assets normally feature the lowest spreads in the market. The EUR/USD pair is the most traded currency pair in the forex market. As a result, it usually features the lowest spreads.

In this review, we want to look at some of the lowest EUR/USD spread forex brokers in the market. We will also look at some other crucial features of the various brokers. 

Why Do Traders Need to Pay Attention to Spreads?

Before we jump into the main content, we would like to explain why it is important to pay attention to the spreads. This is mainly for beginner traders who may not understand how spreads come into play when trading. On most broker sites, the spreads are the primary charges that traders pay when trading. Needless to say, the higher the spreads, the higher the trading fees. 

Quick EUR/USD Spread Comparison Table

A general point to note is that it is better to look at the average spreads as they paint a better picture of the conditions a trader will experience. The minimum spreads can sometimes be further from the spreads that traders will experience in practice.

Broker

Minimum Spreads on the Standard Account

Average Spreads on the Standard Account

Exness

0.3 pips

1.1 pips

CMC Market

0.5 pips

-

IG

0.6 pips

-

Pepperstone

1.0 pips

1.1 pips

FP Markets

1.0 pips

1.1 pips

XM.com

1.6 pips (0.7 pips on XM Ultra Low Account)

-

eToro

1.0 pips

-

AvaTrade

0.9 pips

-


Spreads recorded on 07.11.2023 at 4:00 P.M GMT from the official websites of the brokers. 

- The broker does not mention the average spreads

Pepperstone

Pepperstone offers traders a minimum spread of 1.0 pips on the EUR/USD currency pair. While this is the minimum spread on this currency pair, the average spread sits at 1.1 pips which is not far off. This makes Pepperstoine one of the lowest EUR/USD spread forex brokers. Similarly, other currency pairs on this broker site feature competitively low spreads. In total, Pepperstone offers traders over 60 different currency pairs to invest in.

Notably, this broker also offers access to other market products with some affordable spreads. Investors can trade over 1,200 CFDs on ETFs, commodities, stocks, and indices. Further, can place orders on these markets with some of the fastest order execution times in the market. The trading platforms available for traders to choose from include MetaTrader 4, MetaTrader 5, TradingView, and cTrader.

It is always safer to trade with a broker with world-class regulations. Luckily, Pepperstone has regulations from the FCA, the CySEC, the ASIC, the BaFin, the CMA, and others. This suggests that the broker is keen on following the financial laws of the jurisdictions it operates.

75.5% of retail CFD accounts lose money

Exness

Another reputable broker that offers traders low spreads on the EUR/USD currency pair is Exness. This international broker launched in 2008 and features some of the best offerings for traders. The average spread for the EUR/USD currency pair on this broker site sits at 1.0 pips on its standard accounts. However, note that Exness offers three professional accounts for traders who want advanced features like ultra-low spreads.

Further, there are over 100 different currency pairs to trade on Exness, all featuring market-standard spreads. Also, for traders who want to diversify their portfolios, other markets are available. Exness allows its clients to trade over 250 different CFDs on forex, cryptocurrencies, stocks, energies, metals, and indices. The trading platforms available to choose from include MT4, MT5, Exness Terminal, and Exness Trade App.

On regulations, this broker has good standing among traders. Particularly, it holds regulatory licenses from the CySEC, the FCA, the FSCA, and the CMA, among others. Despite having European regulations, the company does not accept retail traders from most EU countries. A wide range of international clients are, however, welcomed.

FP Markets

FP Markets also features a relatively low average spread on the EUR/USD currency pair sitting at 1.1 pips. With such an average spread, FP Markets is definitely one of the lowest EUR/USD spread forex brokers in the market. Moreover, the broker offers a raw account with spreads from as low as 0.0 pips plus a low commission of $3 per side per lot.

Some of the other global markets traders can access through FP Markets include CFDs on shares, commodities, metals, indices, bonds, cryptocurrencies, and ETFs. In total, there are over 10,000 different market products to invest in with similarly low trading fees. As an example, FP Markets is one of the lowest spread crypto brokers that exist. The trading platforms available to use include MetaTrader 4, MetaTrader 5, cTrader, and Iress. 

Closing out on this broker, let’s see how its activities are supervised. Well, FP Markets is subject to the regulation and supervision of the CySEC and the ASIC. On top of that, it has regulations from the FSCA and the FSA.

72.5% of retail CFD accounts lose money

XM

XM.com is an established forex and CFDs broker with regulations from some of the most reputable organizations in the world. This broker has regulatory licenses from the FCA in the UK, the CySEC in Cyprus, and the ASIC in Australia. Additionally, it has authorization and licensing in Mauritius by the FSC.

Notably, XM is one of the biggest brokers in the markets today with over 5 million clients to its name. The spreads on this broker site are competitively low and affordable for most traders in the market. For the EUR/USD currency pair, the minimum spread is as low as 1.6 pips on the standard account. However, it is slightly lower from 0.7 pips on the XM Ultra-Low accounts. This is why it warrants a mention on this list. Even better, traders do not have to pay any commissions when trading using this account. The trading platforms available to use include MetaTrader 4, MetaTrader 5, and WebTrader.

Note that the EUR/USD pair features some of the lowest spreads on this broker site. However, the spreads on the other currency pairs are industry standard and competitively low. In total, this broker offers traders 50+ different currency pairs. Additionally, traders have access to CFDs on stocks, equity indices, commodities, and energies.

71.61% of retail investor accounts lose money when trading CFDs with this provider.

eToro

eToro is another reputable broker that offers its traders low spreads on the EUR/USD pair. On this broker site, the minimum spread on the EUR/USD currency pair starts from as low as 1.0 pips with no commissions required. Similarly, traders enjoy similarly low spreads on the other 50 different currency pairs. 

Additionally, traders can invest in a variety of other global markets. These include stocks, indices, commodities, ETFs, and cryptocurrencies. This allows traders to diversify their portfolios whenever they want to. However, the only trading platform available for traders to use is the in-house built eToro. The broker believes that this platform is enough to meet the needs of both experienced and beginner traders. 

As usual, let’s see how this broker’s activities are supervised. Well, the broker operates under the strict supervision and examination of the FCA, the CySEC and the ASIC, among others. To say the least, this is one of the most heavily regulated brokers in the market today.

51% of retail investor accounts lose money when trading CFDs with this provider.

CMC Markets

CMC Markets is yet another broker that offers traders low spreads on the EUR/USD currency pair. On this broker site, traders enjoy a minimum spread of 0.5 pips on the EUR/USD pair. The other currency pairs offered by CMC Markets also feature similarly low spreads. In total, CMC Markets offers traders over 330 different currency pairs to trade.

Additionally, the broker allows people to trade CFDs on cryptocurrencies, indices, shares, commodities, share baskets, and treasuries. This is a great place for traders to diversify their investment portfolios which is a welcomed sight on any broker site. Additionally, this broker offers traders a robust but simple trading platform for traders to use, MetaTrader 4.

Finally, let’s look at the regulations of CMC Markets. This broker operates under the authorization and supervision of the FCA in the UK and BaFin in Germany. Note that regulations alone are never enough. However, brokers with regulations from organizations like the FCA are less likely to defraud clients.

IG

IG is one of the most recognized forex brokers in the market today. There are many reasons why this broker attracts clients and the low spreads are one of them. On this broker site, the minimum spreads on the EUR/USD currency pair start from as low as 0.6 pips. This is one of the lowest spreads any trader will find in the market today. Moreover, the trader does not charge commissions when trading forex with these spreads.

Further, IG attracts clients by offering world-class trading platforms to use when trading. These include MetaTrader 4, ProRealTime, L2 Dealer, and PrdogressiveWebApp. Needless to say, the EUR/USD currency pair is not the only currency pair available to trade. This broker offers traders CFDs on over 80 different currency pairs to trade. On top of that, investors can trade CFDs on indices, cryptocurrencies, commodities, shares, and more. In total, there are over 18,000 different market instruments available to trade.

The regulatory status of a broker is one of the key features traders should look at before selecting a broker to trade with. It gives them a sense of how well a broker follows financial laws in different jurisdictions. Luckily, IG has regulations from several reputable organizations including the FINMA in Switzerland, the FCA in the UK, the ASIC in Australia, and the FSCA in South Africa. 

AvaTrade

AvaTrade is yet another broker in the market that is both well-regulated and has low spreads on the EUR/USD currency pair. On this broker site, the minimum spread on the EUR/USD pair can go as low as 0.9 pips. Other than the EUR/USD pair, traders can trade over 50 different currency pairs with similarly low spreads.

Like the other brokers on this list, this company also offers access to a variety of markets aside from forex. Specifically, investors can also trade CFDs on cryptocurrencies, commodities, stocks, indices, ETFs, bonds, and vanilla FX options. The trading platforms available to place orders on these markets include MetaTrader 4, AvaTradeGO and MetaTrader 5 which offers Depth of Market trading. Additionally, the broker supplies traders with various tools to support them in trading. These include two copy trading tools, ZuluTrade and DupliTrade.

It is worth noting that this broker has regulations on five different continents. AvaTrade is one of the best brokers in Europe with regulations in Cyprus by the CySEC and in Ireland by the Central Bank of Ireland. It is also regulated by the ASIC, the IIROC, and the FSCA, among others. While regulations alone are not enough, they are a good sign for a forex broker.

76% of retail CFD accounts lose money

Final Comments

The EUR/USD currency pair is probably the most traded currency pair in the world. Normally, the most traded assets in the market feature the lowest spreads. It only makes sense that this currency pair is available on many broker sites with competitively low spreads. Nonetheless, there are brokers that stand out by offering competitively lower spreads on the EUR/USD currency pair. While these brokers stand out due to the low spreads, there are other features that make them top choices for many traders. We specifically focused on the regulations, trading platforms, and the availability of other markets to invest in. 

As such, traders should not only look at the low spreads but also consider all the features of a broker before investing their hard-earned cash. Needless to say, this list is not exhaustive. Traders should pick and choose a broker that best suits them individually. Moreover, some traders may prioritize other features like customer support or even educational resources.

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