In Forex trading, the spread—the difference between the buy and sell price—directly impacts profitability. For traders seeking to reduce costs, zero-spread Forex brokers offer a compelling solution by eliminating the spread altogether. These brokers charge no spread on trades but typically apply a commission per trade. This pricing model provides transparency, allowing traders to see the exact costs and often benefiting high-frequency traders like scalpers. In this article, we will explore the best zero-spread Forex brokers in 2024, looking at the brokers’ key features, commission structures, and overall trading conditions.
1. XM
XM is a widely respected Forex broker offering a zero-spread account, making it a favorite for traders seeking transparency in their trading costs. XM’s zero-spread account is particularly suited to traders looking for competitive trading conditions on major currency pairs, like EUR/USD.
Key Features:
Spreads: Starting from 0 pips on major currency pairs.
Commission: A competitive $3.50 per lot per side.
Leverage: Up to 1:500 for retail clients.
Platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
According to Finance Magnates' 2023 Broker Survey, XM ranks among the top brokers globally for transparency and low-cost trading, making it a reliable choice for traders aiming to reduce costs.
Example: A trader entering a 1-lot EUR/USD trade on XM’s zero-spread account will pay a $7 commission round trip, making it highly cost-effective for high-frequency trading.
2. FBS
FBS offers an attractive zero-spread account aimed at traders who need precise entry and exit points without worrying about variable spreads. This is especially beneficial for scalpers and those who trade during volatile market conditions.
Key Features:
Spreads: 0 pips on major Forex pairs.
Commission: $6 per lot round trip.
Leverage: Up to 1:3000, giving traders significant flexibility.
Platforms: MT4, MT5, and FBS Trader.
FBS has won multiple awards in the Asian market for its high leverage and competitive trading conditions, including the "Best Forex Broker Asia" award from Global Brands Magazine in 2022.
Example: A scalper using FBS's zero-spread account could benefit from immediate cost clarity, paying only a $6 commission on 1-lot trades without dealing with variable spreads.
3. IC Markets
IC Markets is a top-tier broker known for its Raw Spread Account, which provides spreads starting from 0 pips along with some of the lowest commissions in the industry. IC Markets is particularly popular among institutional and high-frequency traders due to its low-latency execution and deep liquidity.
Key Features:
Spreads: 0 pips on major pairs like EUR/USD.
Commission: $3.50 per lot per side, making it $7 round trip.
Leverage: Up to 1:500.
Platforms: MT4, MT5, and cTrader.
A 2023 review by BrokerChooser rated IC Markets highly for its scalping-friendly environment, particularly due to its zero-spread account and rapid order execution.
Example: A trader placing a 1-lot trade on IC Markets will only incur a $7 commission, while benefiting from the broker’s tight zero spreads and fast trade execution.
4. RoboForex
RoboForex offers an ECN account with zero spreads, making it one of the most cost-effective brokers for traders seeking high-frequency trading solutions. RoboForex is renowned for providing low-cost access to the Forex market with minimal slippage.
Key Features:
Spreads: 0 pips on major pairs.
Commission: $2 per lot per side, one of the lowest in the industry.
Leverage: Up to 1:2000.
Platforms: MT4, MT5, and cTrader.
RoboForex’s ECN account is frequently highlighted in industry reviews, with Global Forex Awards 2021 naming RoboForex as the "Best ECN Broker."
Example: A trader using RoboForex’s ECN account will benefit from a low commission of $4 round trip on 1-lot trades, keeping total trading costs to a minimum.
5. Tickmill
Tickmill is widely regarded for its ultra-low spreads and commissions, making it an ideal broker for professional traders and scalpers. Tickmill’s Pro Account offers zero-pip spreads and some of the lowest commission rates in the industry.
Key Features:
Spreads: 0 pips on major Forex pairs.
Commission: $2 per lot per side ($4 round trip).
Leverage: Up to 1:500.
Platforms: MT4, MT5, and WebTrader.
Tickmill was named "Best Forex Execution Broker" in 2023 by ForexBrokers.com, thanks to its reliable execution and low-cost trading environment.
Example: A professional trader using Tickmill’s Pro Account can trade 1-lot positions with only a $4 round-trip commission, significantly reducing trading costs.
6. FXTM (ForexTime)
FXTM offers a zero-spread account with tight spreads and highly competitive commission rates. FXTM is regulated in multiple jurisdictions, providing traders with a high level of safety and security.
Key Features:
Spreads: 0 pips on major pairs like EUR/USD.
Commission: $4 per lot round trip.
Leverage: Up to 1:2000, depending on the account type.
Platforms: MT4, MT5, and FXTM Trader.
In 2022, FXTM was awarded the "Best Forex Trading Experience" by World Finance, making it one of the top brokers for traders who value both competitive costs and a reliable platform.
Example: For traders with $1,000 in capital, trading with FXTM’s zero-spread account means they only need to worry about the $4 round-trip commission on 1-lot trades, ensuring maximum cost-efficiency.
Conclusion
Trading with a zero-spread Forex broker offers significant cost advantages, particularly for scalpers, day traders, and those trading in high volumes. XM, FBS, IC Markets, RoboForex, Tickmill, and FXTM are among the best brokers in 2024, offering competitive commission rates, tight spreads, and robust trading platforms. Each of these brokers provides transparent fee structures, allowing traders to calculate their costs precisely before executing trades.
Before selecting a broker, traders should consider their trading style, account size, and frequency of trading to ensure they choose the best zero-spread broker that aligns with their trading goals. By doing so, traders can maximize profitability and reduce unnecessary trading costs in 2024.
