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Best Zero Spread Forex Brokers in 2022

Steven Hatzakis

Written by Steven Hatzakis, Blain Reinkensmeyer
Edited by John Bringans
Fact-checked by Joey Shadeck

November 10, 2022

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.

Trading costs continue to decline each year as forex brokers compete to win you as a client, and many now offer zero spread trading accounts as an extra enticement.

Be aware: Some zero spread account offerings can be marketing gimmicks to lure you in as a trader. It's therefore important to be able to read the fine print and understand what to look for when deciding which broker to choose. This guide covers the best zero spread forex brokers and explains what you need to know to choose the best option for your needs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is a zero spread account?

Zero spread accounts are trading accounts offered by brokers that have no difference between the bid and ask price, or spreads that average close to zero. However, there still exists the potential for spreads to widen, and there can still be added trading costs (commissions, for example) depending on the broker and account you choose.

Trading with a zero spread account makes it easy to enter and exit a trade without the need to worry about incurring trading costs, provided there are no additional commissions or fees.

Note: Even if there is a commission instead of spread, accounting can be easier when you know there was no spread when calculating trading costs, as commissions are usually shown on a separate column in most brokerage account reports.

Lowest Spread Forex Brokers

Here are the best zero spread accounts, including brokers that offer spreads close to zero, available for 2022, based on 113 variables.

2022 ForexBrokers.com annual review badge
  • Tickmill - Best overall for low costs
  • FP Markets - Full MetaTrader suite, competitive pricing
  • CMC Markets - Best web trading platform, consistent pricing
  • IC Markets - Best overall for MetaTrader
  • HYCM (Henyep) - Competitive pricing on Raw account
  • Interactive Brokers
    - Best for professionals, excellent pricing
  • IG
    - Excellent education, most trusted
Tickmill
4 Stars Overall

Best overall for low costs

Minimum Initial Deposit$100
Trust Score82
Tradeable Symbols (Total)295

Of Tickmill’s three accounts (Classic, Pro, and VIP), it was the competitive commission-based pricing for professionals available through its VIP and PRO accounts that helped the broker finish 1st overall for Commissions and Fees again in our 2022 annual review. Read full review

Pros
  • Highly competitive pricing
  • Above-average research and education offerings
Cons
  • Small range of markets available for trading
FP Markets
4.5 Stars Overall

Full MetaTrader suite, competitive pricing

Minimum Initial Deposit$100 AUD
Trust Score86
Tradeable Symbols (Total)9956

FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. Ultra-competitive spreads are also available by way of its commission-based Raw ECN account. Read full review

Pros
  • Very competitive spreads
  • Industry-leading pricing on MetaTrader
Cons
  • Room for improvement in education
  • Mobile trading app lacks features offered by industry leaders
CMC Markets
5 Stars Overall

Best web trading platform, consistent pricing

Minimum Initial Deposit$0
Trust Score99
Tradeable Symbols (Total)12377

CMC Markets is a low-cost leader that features consistently low spreads for all customer segments and account types, and competitive pricing for active traders – though the availability of discounts and rebate programs will depend on your country of residence. Read full review

Pros
  • Low trading costs
  • Excellent web and mobile platforms
  • Robust research materials
Cons
  • Educational offering could be improved
  • MT4 offering limited to 62 symbols
IC Markets
4.5 Stars Overall

Best overall for MetaTrader

Minimum Initial Deposit$200
Trust Score86
Tradeable Symbols (Total)3583

IC Markets offers competitive pricing across all account types, with low average spreads and modest minimum deposit requirements. Further discounts are also available for traders that trade over 100 standard lots per month. Read full review

Pros
  • No. 1 MetaTrader broker for 2022
  • Excellent automated copy trading strategies
  • Competitive pricing
Cons
  • Research and education are limited
  • Regulated primarily by one Tier-1 regulator (in Australia)
HYCM (Henyep)
4 Stars Overall

Competitive pricing on Raw account

Minimum Initial Deposit$100
Trust Score86
Tradeable Symbols (Total)245

HYCM is a trusted brand that offers a straightforward MetaTrader platform experience, albeit with a narrow range of symbols. HYCM’s Raw account delivers competitive pricing, with an all-in cost of roughly 0.6 pips for the EUR/USD (after commission). Read full review

Pros
  • Longstanding history offering services across global markets
Cons
  • Expensive compared to industry leaders
  • Subpar research and education
Interactive Brokers
5 Stars Overall

Best for professionals, excellent pricing

Minimum Initial Deposit$0
Trust Score99
Tradeable Symbols (Total)8500

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets and competitive fees – though given the minimum commission of $2 per side, trading anything less than 100,000 units of currency becomes proportionally more expensive. Read full review

Pros
  • Robust platform for professional traders
  • Wide range of global markets
  • Thorough research offering
Cons
  • Trader Workstation platform is likely too complicated for inexperienced traders
Visit Site open_in_new

Quotes as tight as 1/10 of a pip

(66% of retail CFD accounts lose money)

IG
5 Stars Overall

Excellent education, most trusted

Minimum Initial Deposit£250.00
Trust Score99
Tradeable Symbols (Total)19537

IG’s fantastic all-around experience has us ranking IG as the best overall broker for our 2022 annual review. While we wouldn’t consider IG a discount broker, it shines for the active trader pricing available through its Forex Direct accounts. Read full review

Pros
  • Outstanding platforms and tools
  • Over 19,000 tradeable instruments
  • Competitive pricing
Cons
  • No predefined layouts on the flagship web platform
  • Limited product range on MT4
Visit Site open_in_new

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk)

Is there a broker with 0 spread?

While many brokers advertise zero spreads, it can be misleading to look only at the minimum spread or the lowest spread of the day -- it's possible that the spread is worse (higher) the majority of the time.

That is why it is important to only trust the average spreads to determine the true cost of a broker claiming to offer zero-pip spreads. A zero spread implies there is no difference in pips between the bid price and ask price; they are exactly the same price when the spread is 0.

In our research, there are only a few brokers that truly average close-to-zero-pip spreads on the EUR/USD, but you still must pay a per-trade commission, thus the effective spreads average out to be higher. Any broker claiming to offer zero pips with no commissions should be considered carefully, as it could turn out to be either a scam or offer questionable execution practices. That's why it's always important to only use trusted, highly regulated brokers.

For example, Tickmill, FP Markets, and IC Markets feature spreads close to 0 for their commission-based accounts, with their effective spreads averaging anywhere from 0.42 to 0.62 on the EUR/USD pair (using monthly spread data obtained during our 2022 annual review), helping them finish best in class in this category.

How do you compare zero spread accounts?

When you compare accounts offered by the best forex brokers for zero spread trading, spreads will still vary in most cases, and you may incur other trading costs such as commissions. Therefore, it is essential to keep the subtle details in mind when reading the fine print for zero spread trading.

Forex brokers often offer multiple accounts, where certain features such as the execution method, the trading platform available, or the range of markets will vary depending on which account you select.

Whether you are trading spot forex as a CFD or as a non-deliverable rolling contract, below we cover the key differences you should know when trading forex on margin with a zero spread broker.

Should I choose a zero spread account?

An account with zero spreads can make sense if your trading strategy is spread-sensitive or if you just want to reduce your trading costs as much as possible -- but there are potential trade-offs.

Factors to keep in mind include any added commission and knowing if zero spreads are variable or fixed, especially during volatile market conditions when spreads may widen.

Consider that execution quality can suffer in a zero spread account if your trading strategy relies on specific execution qualities, such as avoiding slippage (where your order can get filled at a worse price).

  • Pros of zero spread pricing: A scalping strategy or other high-frequency trading program based solely on latency, or price delays that cause arbitrage, will likely require that you have lower costs (i.e., cost-sensitive) to be profitable.
  • Cons of zero spread pricing: Conversely, other high-frequency algorithmic trading based on technical indicators can perform better on zero spreads, even if there are execution delays or price requotes during fast markets. However, this potential slippage also means that the effective spread can be greater than zero if your order is filled at a worse price.

About zero spread forex brokers

A zero spread forex broker attempts to offer a spread of zero pips. The spread is the difference between the bid price (where you can sell) and the ask price (where you can buy), measured in pips (fractions of a currency). These seemingly small trading costs can quickly add up, because trading forex takes place from within a margin account (that is, uses leverage), especially as your trading volumes increase.

  • Sample EUR/USD spread 10 years ago: 3 pips
  • Sample EUR/USD spread today: 0.8 pips
  • Sample EUR/USD spread at a zero spread broker: 0.1 pips

In the interbank market, where prices originate from major dealers, spreads are quoted in fractions of a pip, also known as fractional-pips. A zero pip spread may range from 0 to several fractions of a pip -- or even more during volatile market conditions.

Zero spread investment offerings comparison

Using our forex brokers comparison tool, here's a summary of the spread pricing offered by the best zero spread forex brokers.

Company Average Spread EUR/USD - Standard All-in Cost EUR/USD - Active Active Trader or VIP Discounts Execution: Agency Broker Execution: Market Maker
IG logoIG 0.86 (September 2022) 0.5957 (September 2022) Yes Yes Yes
CMC Markets logoCMC Markets 0.51 (August 2022) 0.51 (August 2022) Yes No Yes
Interactive Brokers logoInteractive Brokers 0.6 (Aug 2022) 0.6 (Aug 2022) Yes Yes No
FP Markets logoFP Markets 1.2 (August 2022) 0.7 (August 2022) Yes No Yes
IC Markets logoIC Markets 0.62 (August 2021) 0.62 (August 2021) Yes Yes Yes
Tickmill logoTickmill 0.51 (August 2022) 0.31 (August 2022) Yes Yes Yes
HYCM (Henyep) logoHYCM (Henyep) 0.6 (Sept 2021) 0.6 (Sept 2021) Yes Yes Yes

Note: Brokers listed in the above table ranked best in class for Commissions & Fees in the ForexBrokers.com 2022 review.

How does a zero spread forex broker earn money?

A zero-pip spread that is fixed, and doesn't vary, will likely include a commission. The broker may also be operating a dealing desk to attempt to make money when you trade, by being on the opposite side of each trade.

The way forex and CFD brokers earn money depends on their business model and available execution methods. All brokers will ultimately do one or more of the following:

  1. Add a spread markup or earn a rebate (agency broker) when you trade with them, as they route your order to a third-party market-maker in return for compensation.
  2. Charge a commission (agency broker) in lieu of any spreads when routing your order.
  3. Manage risk as a dealer (agency broker or market maker) on zero spread accounts.

Pro tip: Some zero spread brokers combine some of these execution methods into a hybrid offering. Some brokers let you choose execution type from within your account or open an account specific to a particular execution method.

Which broker has lower spreads?

In order to really know which broker has lower spreads compared to the competition, we obtained average spread data and factored in any per-trade commissions to arrive at the effective spreads, which allow you to determine your true trading costs.

Brokers with the lowest effective spreads in 2022 are as follows, based on average price data obtained by our research for the EUR/USD pair:

  • Tickmill - 0.47 (September 2021) on Pro account
  • FP Markets - on 0.7 (October 2021) Raw ECN account
  • CMC Markets - 0.73 (August 2021) on all accounts
  • IC Markets - Average 0.62 (August 2021) on cTrader account
  • HYCM - Average 0.6 pips (September 2021) on Raw account
  • Interactive Brokers - 0.6 pips (Week ending Oct. 6, 2021)
  • IG - Deeper discounts on Forex Direct account

Which forex broker has the tightest spread?

Tickmill provides the tightest spreads (averaging 0.13 pips on the EUR/USD during August) from among the 39 brokers ranked in the ForexBrokers.com 2022 Annual Broker Review, after factoring in trading costs (i.e., any commissions). FP Markets follows closely in second place, also offering a nearly zero pip spread with a small commission added per trade.

Pro tip: When measuring forex spreads, the most accurate way to determine which broker has the tightest spread is to calculate the average spread for a given period -- such as one month. In addition, it is important to factor in the trustworthiness of the broker, to ensure you are provided with the best execution to pay the spread you deserve and avoid pitfalls like asymmetrical slippage.

Which broker has the best spread?

Tickmill stands out as having the best spread, as the overall trading cost (spread + commission) is 0.47 pips, which is the lowest on average based on September 2021 data using the EUR/USD pair on its Pro account offering. Other brokers might advertise a lower spread, but end up being more expensive because they charge a higher commission or have higher average spreads.

Is a zero spread account good?

While it's nice to avoid fees, a zero spread account can still end up costing you a per-trade commission, and even worse -- spreads can potentially widen in a zero spread account even if it is commission-free.

Depending on your strategy and trading needs, a zero spread account might not be good for you if certain order types or execution methods are not available. The key is knowing what the average spreads are, and whether there are any per-trade commissions -- this allows you to calculate the effective spread.

Can I trade forex without a broker?

No, forex trading is conducted from within a brokerage account, which provides you a certain degree of leverage (margin), along with access to a trading platform and a range of currency pairs. You should always choose trusted forex brokers that hold proper regulatory licenses to avoid becoming a victim of scams.

Pro tip: For cryptocurrency users looking at forex trading with stablecoins, a decentralized exchange is also not a suitable option for forex. Spreads can be significantly wider, and there is no mechanism to ensure the best execution even if zero spreads are advertised -- which could result in extreme slippage.

Which forex broker is best for scalping?

IC Markets is an excellent forex broker for scalping. IC Markets is used by a significant number of algorithmic traders and provides access to cTrader and MetaTrader. These platforms allow you to run automated high-frequency trading programs such as scalping-based strategies and can even place orders in between the spread. And IC Markets' Raw Spread Account features zero spreads, plus commission.

Pro tip: Whether brokers claim to offer Straight Through Processing (STP) or an Electronic Communications Network (ECN), these descriptions are not as important as how your broker's business model actually operates, including its order execution policy during fast markets when spreads can widen.

What's the difference between raw spread and a standard account?

A standard account refers to the smallest trade size of 100,000 units of currency, which is also known as a standard lot size. A raw spread refers to the cost of trading reflected in the bid/ask price, where the broker is not adding any markup but instead provides the price as is (i.e., raw spread) straight from their liquidity providers.

Pro tip: In most cases, raw spread forex brokers will add a per trade commission to make money or act as market makers.

ForexBrokers.com 2022 Overall Ranking

Here are the Overall rankings for the 39 online brokers who participated in our 2022 Annual Review, sorted by Overall ranking.

Company Overall Rating Offering of Investments Commissions & Fees Platform & Tools Research Education Mobile Trading Trust Score Visit Site
IG logoIG 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 99 Visit Site
Saxo Bank logoSaxo Bank 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 4 Stars 5 Stars 99
CMC Markets logoCMC Markets 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 4.5 Stars 5 Stars 99
Interactive Brokers logoInteractive Brokers 5 Stars 5 Stars 5 Stars 5 Stars 5 Stars 4.5 Stars 5 Stars 99 Visit Site
TD Ameritrade logoTD Ameritrade 5 Stars 5 Stars 4 Stars 5 Stars 5 Stars 4.5 Stars 5 Stars 99 Visit Site
FOREX.com logoFOREX.com 5 Stars 5 Stars 4.5 Stars 5 Stars 4.5 Stars 4.5 Stars 5 Stars 99 Visit Site
XTB logoXTB 5 Stars 5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 4 Stars 4.5 Stars 95
City Index logoCity Index 5 Stars 5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 5 Stars 99
eToro logoeToro 4.5 Stars 5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 4 Stars 4.5 Stars 93
Swissquote logoSwissquote 4.5 Stars 5 Stars 3.5 Stars 4.5 Stars 4.5 Stars 4 Stars 4.5 Stars 99
AvaTrade logoAvaTrade 4.5 Stars 4 Stars 4.5 Stars 4.5 Stars 4 Stars 5 Stars 4.5 Stars 93
Plus500 logoPlus500 4.5 Stars 4 Stars 4.5 Stars 4.5 Stars 4 Stars 3.5 Stars 4.5 Stars 98
FXCM logoFXCM 4.5 Stars 3.5 Stars 4 Stars 5 Stars 4.5 Stars 4 Stars 4 Stars 96
OANDA logoOANDA 4.5 Stars 3.5 Stars 4 Stars 4 Stars 4.5 Stars 4 Stars 4.5 Stars 92
FP Markets logoFP Markets 4.5 Stars 4.5 Stars 5 Stars 4 Stars 4 Stars 4 Stars 4 Stars 86
Admiral Markets logoAdmiral Markets 4.5 Stars 4.5 Stars 4.5 Stars 4 Stars 4 Stars 4.5 Stars 4 Stars 87
IC Markets logoIC Markets 4.5 Stars 4.5 Stars 5 Stars 4 Stars 4 Stars 4 Stars 4 Stars 86
Capital.com logoCapital.com 4.5 Stars 4.5 Stars 5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars 77
Markets.com logoMarkets.com 4.5 Stars 4 Stars 3.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 98
XM Group logoXM Group 4.5 Stars 4 Stars 4 Stars 4 Stars 4.5 Stars 4.5 Stars 4 Stars 90
Pepperstone logoPepperstone 4.5 Stars 4 Stars 4.5 Stars 4 Stars 4.5 Stars 4 Stars 4 Stars 93
FxPro logoFxPro 4.5 Stars 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 90
Tickmill logoTickmill 4 Stars 3.5 Stars 5 Stars 4 Stars 4 Stars 4 Stars 4 Stars 82
Fineco Bank logoFineco Bank 4 Stars 4.5 Stars 3.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 92
HYCM (Henyep) logoHYCM (Henyep) 4 Stars 3.5 Stars 4.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 86
DooPrime logoDooPrime 4 Stars 5 Stars 3 Stars 4 Stars 4 Stars 4 Stars 4 Stars 84
HFM logoHFM 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 85
FlowBank logoFlowBank 4 Stars 5 Stars 4 Stars 4 Stars 3.5 Stars 3.5 Stars 4 Stars 77
BDSwiss logoBDSwiss 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 4 Stars 83
Vantage logoVantage 4 Stars 3.5 Stars 4.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 83
TMGM logoTMGM 4 Stars 5 Stars 4 Stars 4 Stars 3.5 Stars 4.5 Stars 4 Stars 79
Trading 212 logoTrading 212 4 Stars 4 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 4 Stars 77
Moneta Markets logoMoneta Markets 4 Stars 4 Stars 4.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 71
Trade Nation logoTrade Nation 4 Stars 3.5 Stars 4.5 Stars 4 Stars 3.5 Stars 3.5 Stars 4 Stars 83
BlackBull Markets logoBlackBull Markets 4 Stars 5 Stars 4.5 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 74
ACY Securities logoACY Securities 4 Stars 4 Stars 4.5 Stars 4 Stars 3.5 Stars 3.5 Stars 4 Stars 75
Eightcap logoEightcap 4 Stars 4 Stars 4 Stars 4 Stars 3.5 Stars 3.5 Stars 4 Stars 87
ThinkMarkets logoThinkMarkets 4 Stars 4 Stars 3.5 Stars 4 Stars 3 Stars 3.5 Stars 4 Stars 86
VT Markets logoVT Markets 4 Stars 3.5 Stars 4.5 Stars 4 Stars 3.5 Stars 3 Stars 4 Stars 71
easyMarkets logoeasyMarkets 4 Stars 4 Stars 3.5 Stars 4 Stars 3 Stars 3.5 Stars 4 Stars 84
Exness logoExness 4 Stars 3.5 Stars 4 Stars 4 Stars 3.5 Stars 3.5 Stars 3.5 Stars 74
Spreadex logoSpreadex 4 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 3.5 Stars 3.5 Stars 70
IronFX logoIronFX 4 Stars 3.5 Stars 4 Stars 3.5 Stars 4 Stars 3.5 Stars 3.5 Stars 84
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 4 Stars 5 Stars 3.5 Stars 4 Stars 3.5 Stars 3 Stars 4 Stars 69
Trade360 logoTrade360 4 Stars 4 Stars 3 Stars 4 Stars 3.5 Stars 3.5 Stars 4 Stars 75
GKFX logoGKFX 4 Stars 3.5 Stars 4 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 66
AxiTrader logoAxiTrader 4 Stars 3.5 Stars 4 Stars 3.5 Stars 3 Stars 4 Stars 3.5 Stars 83
Vestle logoVestle 4 Stars 3.5 Stars 3 Stars 4 Stars 3.5 Stars 3 Stars 4 Stars 79
FXOpen logoFXOpen 3.5 Stars 3 Stars 4 Stars 4 Stars 3 Stars 3 Stars 4 Stars 80
TeleTrade logoTeleTrade 3.5 Stars 3.5 Stars 4 Stars 4 Stars 3.5 Stars 3 Stars 4 Stars 67
OctaFX logoOctaFX 4 Stars 3 Stars 4 Stars 4 Stars 4 Stars 3.5 Stars 4 Stars 67
Forex4you logoForex4you 3.5 Stars 3.5 Stars 3.5 Stars 4 Stars 3.5 Stars 4 Stars 4 Stars 62
LegacyFX logoLegacyFX 3.5 Stars 3.5 Stars 3.5 Stars 3.5 Stars 3.5 Stars 3.5 Stars 3.5 Stars 75
FXPrimus logoFXPrimus 3.5 Stars 3.5 Stars 4 Stars 4 Stars 3 Stars 3.5 Stars 4 Stars 69
Alpari logoAlpari 3.5 Stars 3 Stars 4 Stars 4 Stars 3 Stars 3.5 Stars 4 Stars 67
GBE brokers logoGBE brokers 3.5 Stars 3.5 Stars 4 Stars 4 Stars 3 Stars 3 Stars 4 Stars 69
TopFX logoTopFX 3.5 Stars 3.5 Stars 4 Stars 4 Stars 3 Stars 3 Stars 4 Stars 67
ATFX logoATFX 3.5 Stars 3.5 Stars 3 Stars 3.5 Stars 3 Stars 4 Stars 3.5 Stars 70
UFX logoUFX 3.5 Stars 3.5 Stars 3 Stars 4 Stars 3 Stars 3 Stars 4 Stars 67
Libertex (Forex Club) logoLibertex (Forex Club) 3.5 Stars 3.5 Stars 3 Stars 4 Stars 3 Stars 3 Stars 4 Stars 72
Xtrade logoXtrade 3.5 Stars 3.5 Stars 2.5 Stars 3 Stars 3 Stars 3.5 Stars 3 Stars 80
Tradeo logoTradeo 3.5 Stars 3.5 Stars 3.5 Stars 3.5 Stars 3 Stars 3 Stars 3.5 Stars 67
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At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score).

We conduct meticulous research that covers the entire spectrum of industry fees and commissions in order to provide the most accurate, up-to date information on the costs of using the online brokers that we review.

We examine each broker’s bid/ask spreads as well as the average spread information for the most popular forex currency pairs, the existence and eligibility requirements of Active Trader or VIP rebates and discounts, inactivity or custody fees, minimum deposit requirements, execution methods, and a host of other data-driven variables.

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About the Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.


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