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6 Best Zero Spread Forex Brokers for 2024

Looking for the top zero-spread broker? Based on our hands-on analysis, we’ve identified 6 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Jitan Solanki
Reviewed By:
FX Empire Editorial Board
Updated: Mar 28, 2024

List of Top Zero-Spread Forex Brokers

Best brokers for US traders

Core spreads starting at 0 pips. Trade spot forex and popular cryptocurrencies. Special reward program. Excellent selection of trading platforms and tools.

Best brokers for international traders

Up to 1:1000 leverage. ECN trading accounts. MT4, MT5. FXTM Mobile App. FXTM Invest copy trading. In-house market research.

MT4 Autochartist and Trading Central plugins. Zero spreads, low fees, zero requotes. No minimum distance order restriction. Advanced algorithmic trading features, cTrader Automate, free VPS.

5 different trading accounts for beginner and advanced. $10 minimum deposit. Low trading commissions. 24/7 customer support.

ECN pricing account for zero spreads. MT4, MT5, cTrader, IRESS platforms. Low trading commissions. Trading Central, Autochartist, MT4/5 Traders Toolbox.

PAMM accounts for traders and investors. Orbex Account Management App.  Trading Central Tool. No dealing desk execution.

The spread, the difference between the buy and sell prices in a market, represents one cost of trading. With more and more brokers competing for your business, there is now an excellent range of products and accounts to trade with zero spreads.

This can be done by your broker providing you with quotes directly from the interbank market and their own liquidity providers, instead of marking up the spread and taking their own cut before it gets to you.

However, not all brokers offer these types of accounts, and the ones that do, vary greatly in their product selection, safety, and security. Our team of experts has identified the best zero-spread brokers to trade with this year.

How did FX Empire select the Best Zero Spread Forex Brokers?

FXEmpire's Methodology

  • We ensured each broker received a top score in our 250 data-point broker rating review, which covers nine core categories.
  • We checked each broker’s license and authorizations to identify the regulatory protection available.
  • We explored the different account types to ensure each broker offers spreads starting at zero pips.
  • We opened a live trading account to check the spreads in real time and for low trading commissions.
  • We identified brokers that provide a good range of tradable instruments and trading platforms.
  • We also checked what other trading and research tools are available.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

This analysis, combined with my personal trading experience, has led to the findings and research presented below. These highlight the best zero-spread forex brokers across various categories, tailored to your specific trading needs.

Now let’s dive into the selected brokers.

Best Overall

4.3
82% of retail CFD accounts lose money
  • Min Deposit
    $500
  • Tradable Instruments
    266
  • Fees
    Medium

Founded in 2011, FXTM is regulated by the UK FCA, CySEC, FSCA, and the FSC Mauritius. Over 250 markets can be traded from the MT4/MT5 platform and FXTM mobile app. There are two core ECN account types, with leading market research from its in-house team.

Key Features:

  • Regulations & Max. Leverage: FCA (1:30), CySEC (1:30), FSCA (1:30), FSC Mauritius (1:1000)
  • Zero Spread Account: Advantage
  • Forex Pairs: 62
  • Commission: from $2.50 per lot, per side
  • Minimum Deposit: $500
  • Platforms: MT4, MT5, FXTM Mobile App

Our live test showed the FXTM Advantage account to offer spreads from 0.0 pips. The $2.50 per lot per side commission beats the industry average of $3.50 for FX, metals, commodities, and index CFDs. Up to 1:1000 leverage is available only from the entity regulated by the FSC Mauritius.

The broker provides two pricing options – ECN and DMA. This allows traders to select the price feed that suits them best. Both models support rapid order execution without requiring a dealing desk.

A significant benefit of FP Markets is its extensive range of third-party tools. It includes support for Autochartist, a globally renowned signal provider, and Myfxbook. Additionally, both social and automated trading are facilitated.

Pros
  • High leverage.
  • Regular market research.
  • Copy trading tools.
  • Competitive commission.
Cons
  • $5 fee if no activity for six consecutive months.

Best MT4

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
    $200
  • Tradable Instruments
    2251
  • Fees
    Low

Founded in 2007, IC Markets has entities regulated by CySEC, ASIC, SCB, and the FSA Seychelles. With access to zero spread raw pricing trading accounts, a zero requote policy, and multiple MT4 plugins, IC Markets is a top broker to consider.

Key Features:

  • Regulations & Max. Leverage: CySEC (1:30), ASIC (1:30), FSA Seychelles (1:1000), SCB (1:500)
  • Zero Spread Account: Raw Spread Account
  • Forex Pairs: 61+
  • Commission: from $3 per lot, per side
  • Minimum Deposit: $200
  • Platforms: MT4, MT5, cTrader

IC Markets has long been the go-to broker for serious forex traders. The product offering is tailored to high-frequency, high-volume algorithmic traders providing an excellent range of tools for any type of trader.

During our live test, I found you can access spreads from 0.0 pips from the Raw Spread Account. When trading with MT4 and MT5, the commission per trade is $3.50 per lot per side. With cTrader, the commission is $3 per lot per side. Both of these are in line with the industry average.

I found the MT4 offering to be of particular interest as IC Markets also provides Trading Central and Autochartist plugins for it. I enjoy using the MT4 Autochartist plugin as it provides real-time, automated technical analysis of trading ideas and acts as a pattern recognition scanner – great for speeding up the research when trading.

The MT4 platform itself comes packed with a lot of features. These include the ability to trade any of the broker’s 1,700+ tradable instruments, access to 80+ inbuilt technical analysis indicators and drawing tools, as well as automated trading functionality.

Pros
  • MT4 Autochartist and Trading Central plugins.
  • Zero spreads, low fees, zero requotes.
  • No minimum distance order restriction.
  • Advanced algorithmic trading features.
Cons
  • Advanced features may overwhelm some beginners.

Best for Beginners

Forex trading involves risks.
  • Min Deposit
    $10
  • Tradable Instruments
    12060
  • Fees
    Low

Founded in 2009, RoboForex is regulated by the FSC Belize. With five different trading accounts and platforms, including a commission-free and demo trading account, and a low minimum deposit of just $10, RoboForex is a good option to consider for beginner traders.

Key Features:

  • Regulation & Max. Leverage: FSC Belize (1:2000)
  • Zero Spread Account: Prime and ECN
  • Forex Pairs: 26+
  • Commission: from $1 per lot, per side
  • Minimum Deposit: $10
  • Platforms: MT4, MT5, R WebTrader

During our live test, I found that RoboForex offers an extensive selection of trading accounts, well-suited for beginner traders. The most interesting option is the Prime Account, as I discovered that it provides access to spreads from 0.0 pips on 28 currency pairs with only a $1 per lot per side trading commission, significantly undercutting the industry average of $3.50.

Furthermore, I found that you can open the Prime Account with a minimum deposit of just $10 and access leverage up to 1:300. This means you can control a position size 300 times larger than the capital you put up. Be mindful, though, leverage can amplify both profits and losses, so proper risk management is critical.

Another key benefit for beginner traders is the ability to access customer support 24/7. After testing the live chat, I found the customer support agent to be knowledgeable and friendly – an essential aspect as you’ll likely have numerous questions during the early stages of your trading journey.

Traders new to the market can also use a free demo trading account to test the products and services risk-free, making RoboForex a top broker to consider for beginners.

Pros
  • Variety of account types for different trading needs.
  • Low minimum deposit.
  • Low trading commissions.
  • 24/7 customer support.
Cons
  • Limited educational materials.

Best Trading Software

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

Founded in 2005, FP Markets has entities regulated by ASIC, CySEC, the FSCA, and one unregulated entity based in St. Vincent and the Grenadines (SVG). The broker offers ECN pricing accounts with raw spreads from 0.0 pips, low commissions, and a wide range of trading platforms and research tools.

Key Features:

  • Regulations & Max. Leverage: CySEC (1:30), ASIC (1:30), FSCA (1:500), Unregulated entity in SVG (1:500)
  • Zero Spread Account: Raw Account
  • Forex Pairs: 70+
  • Commission: from $3 per lot, per side
  • Minimum Deposit: $100
  • Platforms: MT4, MT5, cTrader

The FP Markets Raw account connects you directly with the interbank market and the broker’s own liquidity providers to ensure the best possible quotes and ECN pricing. While spreads are from 0.0 pips, there is a commission of $3.50 per lot, per side, which is in line with the industry average of $3.50 when using the MT4 and MT5 trading platforms.

During our live test, I found that you can trade with an even lower commission of just $3 per lot, per side – and with spreads still from 0.0 pips – from the cTrader platform. As the cTrader platform is specifically designed for high-frequency, short-term traders, it provides some of the best tools to trade zero spreads.

I also discovered an excellent range of additional trading and research tools available at FP Markets. These include Trading Central and Autochartist, which deliver rich and real-time technical analysis and trading ideas. Additionally, an MT4 indicator package offers extra indicators.

Pros
  • ECN pricing account for zero spreads.
  • Low trading commissions.
  • Good selection of platforms.
  • Wide range of trading and research tools.
Cons
  • cTrader only available with the unregulated entity based in SVG.

Best for Professional Traders

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.
  • Min Deposit
    $100
  • Tradable Instruments
    375
  • Fees
    High

Founded in 2011, Orbex has entities regulated by CySEC, the FSA Mauritius, and the FSA Seychelles. With no dealing desk execution, a wide range of trading tools, and managed account solutions, Orbex is a broker to consider if you are seeking professional tools.

Key Features:

  • Regulations & Max. Leverage: CySEC (1:30), FSC Mauritius (1:500), FSC Seychelles (1:500)
  • Zero Spread Account: Premium and Ultimate
  • Forex Pairs: 47+
  • Commission: from $2.50 per lot, per side
  • Minimum Deposit: $500
  • Platforms: MT4, MT5

In our live test, I discovered that Orbex offers two accounts with spreads from 0.0 pips. The Premium Account requires a minimum deposit of $500 and charges commissions of $4 per lot per side, slightly exceeding the industry average of $3.50. Meanwhile, the Ultimate Account demands a higher minimum deposit of $25,000 but offers a lower commission rate of $2.50 per lot per side, beating the industry average.

Each account provides no dealing desk execution, which means there is no broker intervention in your trades. Professional traders may also be interested in the Orbex PAMM service. This managed account solution allows you to follow other professional traders or attract investors to follow you.

As a PAMM manager, you can set your own performance fee, access detailed reports of your investors, and automatically distribute profits or losses among Orbex investors who decide to follow you. I also discovered a helpful web page that showcases the overall returns of different PAMM managers.

Pros
  • Managed accounts for traders and investors.
  • Trading Central research and tools.
  • No dealing desk execution.
  • High leverage.
Cons
  • High inactivity fee.

Best Overall in the US

OANDA corporation is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets.
  • Min Deposit
    $0
  • Tradable Instruments
    77
  • Fees
    Medium

Founded in 1996, OANDA is an award-winning multinational broker. I confirmed that entities of New York-based OANDA are authorized by multiple top-tier regulators. OANDA US clients can trade a broad range of currency pairs and a selection of the most popular cryptocurrencies.

  • Regulation & Max. Leverage: CFTC, NFA (1:50)
  • Zero Spread Account: Core Pricing
  • Forex Pairs: 69
  • Commission: $7 per lot, per side
  • Minimum Deposit: $0
  • Platforms: OANDA Web platform and Mobile App, MT4, TradingView

Clients with Standard and Elite Trader account types can choose spread-only pricing or access lower spreads (starting at zero pips) with commissions via the Core Pricing model. The Elite Trader account has attractive benefits: traders can earn cash rebates of $5 to $17 per million units traded and are assigned a dedicated relationship manager.

Traders can choose between the OANDA Web Platform and Mobile App, MetaTrader 4, and TradingView. This wealth of choice in platforms means that OANDA US can cater to beginners needing an intuitive layout and advanced traders looking for sophisticated features like advanced order types and automated trading.

OANDA US also checks all the boxes when it comes to research materials. Its decades of experience in the forex market are reflected in the high-quality analysis of MarketPulse writers. Third-party research tools from MultiCharts and MotiveWave, enabling strategy backtesting and optimization, cater primarily to advanced traders. Meanwhile, trading ideas from Autochartist are easy for beginners to grasp. Reliable customer support rounds out a robust overall offering from OANDA US.

Pros
  • Tight spreads
  • Reliable support
  • Industry-leading research
  • High trust rating
Cons
  • Inactivity fee

How to Choose the Best Zero Spread Broker?

If you’re involved in forex trading, you’ve probably encountered zero spread brokers. These brokers offer direct access to the interbank market and their liquidity providers, presenting spreads that accurately mirror the underlying market without any added markup.

To choose the best zero spread broker for your needs, be sure to take the following factors listed below, into consideration.

How to choose a safe broker?

Selecting a regulated brokerage firm is the first step in choosing a safe broker to trade with. After all, they play a dual role in safeguarding your funds and executing your trades. The lack of proper oversight by a financial regulator could expose your funds to potential risks and result in poor trade executions that do not adhere to best practices.

Unfortunately, not all financial regulators are equal. To classify financial regulators, we have categorized them into three tiers:

  • Tier-1 regulators are based in well-recognized financial jurisdictions, such as the UK FCA, CySEC, and ASIC.
  • Tier-2 regulators are located in lesser-known financial jurisdictions but still maintain a high standard. Examples include the DFSA and FSCA.
  • Tier 3 regulators are generally associated with offshore-based nations, such as the FSC Belize and SCB.
  • Unregulated brokers. Some brokers may have their company located in an offshore jurisdiction which requires no regulation or oversight. These are brokers based in St. Vincent and the Grenadines and other locations.

Based on my personal experience trading with various brokers, I strongly advise verifying the entity with which you’re opening a trading account and understanding the regulatory protections that come with it. It’s essential to note that the level of protection provided by regulators varies depending on the jurisdiction.

For instance, traders opening accounts with FCA-regulated brokers qualify for the Financial Services Compensation Scheme (FSCS), which covers up to 85,000 GBP in case of broker insolvency. On the other hand, the Cyprus Securities and Exchange Commission (CySEC) ensures that brokers are part of the Investor Compensation Fund, which covers up to 20,000 EUR in case of insolvency.

Check out our guides on Best CySEC-regulated forex brokers and Best FCA-regulated forex brokers.

Furthermore, several tier-1 regulators mandate negative balance protection for a broker’s retail trading clients, as well as the segregation of client funds from the company’s own funds. Interestingly, many tier-2 and tier-3 brokers voluntarily offer these protections, even though it might not be obligatory for them, which I find is a good sign of the broker.

I would advise avoiding trading with unregulated brokers, as you’ll have no legal recourse should they act fraudulently or run away with your capital.

You can check a broker’s regulatory status on the online register of the regulator’s website in the jurisdiction they are located in. You should also check the terms and conditions of the entity you are signing up with. To save you time, we have created a comprehensive guide on the best regulated forex brokers.

What fees should you expect with a Zero Spread account?

When dealing with zero spread accounts, it’s important to note that ‘zero spread’ doesn’t necessarily equate to ‘zero cost.’ While the spread, or the difference between the bid and ask price, might be zero at certain times throughout the day, brokers typically have alternative ways of covering their costs. Here are a few things to consider:

Trading Fees

  • Spreads: This is the difference between the buy price and the sell price. While brokers may promote spreads starting from 0.0 pips, it’s important to note that it won’t necessarily maintain at 0.0 pips 24 hours a day, as it depends on market liquidity. See our guide for the best forex brokers with lowest spreads.
  • Commissions: These are fees that you pay for every trade, regardless of the spread. This means that even if the spread is zero, you could still be paying a commission. Nearly all zero spread accounts will charge a commission. The brokers discussed above have commissions ranging from $0.20 per lot to $4 per lot, showing just how different each broker can be.
  • Swap Fees: Another aspect to consider is the swap fee. These fees are charged when you hold a leveraged position overnight and are based on both the interest rates of the currency you’re trading and the broker’s markup. Discover Best low swaps forex brokers.

Non-Trading Fees

It’s important to be aware of other types of fees that can come with a zero-spread account. For instance, some brokers charge inactivity fees. If you fail to execute a number of trades during a designated timeframe (months, quarters, or years) you may incur this fee.

Check the broker’s fee page carefully and consider using a demo account or starting with small funds to, firstly test the live spreads and fees.

How to choose the best Zero Spread account?

Choosing the right account type is crucial to find success in your trading journey. Here are a few things to take into consideration to help you choose the best zero-spread account for yourself.

Step 1: Self-Evaluation

Begin by assessing your trading goals, risk tolerance, and level of expertise. Are you new to forex trading and just starting to explore the market? Or are you an experienced trader seeking advanced tools and higher leverage? Understanding your needs will help identify the ideal account type for you.

Step 2: Account Options

Brokers offer a range of account types, catering to different traders. For beginners, micro or mini accounts are often recommended, as they have low deposit requirements and limit risk exposure. On the other hand, experienced traders may prefer standard or VIP accounts, which offer larger contract sizes and additional tools.

Explore Best micro forex accounts and Best big forex accounts.

Step 3: Initial Deposit

Take into consideration the minimum deposit required for the account. Some accounts may demand a higher initial investment than others. Ensure that the deposit amount is one you are comfortable with and can afford.

Step 4: Leverage & Spreads

Examine the leverage and spreads provided by the broker. High leverage can amplify both potential profits and losses, therefore escalating risk levels. Lower spreads signify reduced trading costs, but make sure you balance this with the commission charged for a trade.

Step 5: Demo Account

Before committing real funds, utilize a demo account offered by brokers. Demo accounts allow you to trade with virtual money, providing a risk-free environment to familiarize yourself with the trading platform and test various strategies. You can check our list of the best forex trading demo account.

The best forex account for you will be the one that aligns with your trading style, objectives, and risk tolerance. Taking these factors into account will help ensure a successful trading experience.

Which leverage to use with Zero Spread accounts?

Utilizing leverage provides you with the ability to control a larger position with a smaller deposit, presenting an opportunity to amplify both profits and losses.

Regulatory bodies such as the UK FCA, CySEC, and ASIC, classified as Tier-1 regulators, impose a leverage cap of 1:30 for forex trading. This means that with just $10, you can control a position size of $300. It is vital to grasp the fact that higher leverage involves increased risk, as unfavorable market movements can lead to higher losses.

Exercise caution when dealing with offshore and unregulated brokers who often promote exceedingly high leverage. It is essential to recognize that Tier-1 regulators restrict leverage for retail traders to provide a safe and responsible trading experience. However, you can see FX Empire’s carefully selected list of the best forex brokers with high leverage.

What is the best trading platform for Zero Spread account?

The majority of forex brokers provide clients with access to well-known trading platforms like MetaTrader 4, MetaTrader 5, and cTrader. While the desktop versions of these platforms boast comprehensive features, including automated trading capabilities, it is equally important to test the broker’s proprietary trading platform (if they have one), as it may come with more features.

The broker’s own platform might offer additional functionalities such as real-time news and trading ideas. Evaluating your individual trading requirements is crucial in selecting the most suitable platform. Online resources provide valuable information about MT4, MT5, and cTrader, but keep in mind that they may not be as user-friendly as a broker’s proprietary platform, so test each platform with a demo account first.

Read more about best MT4 brokers, best MT5 brokers, and best cTrader brokers.

Based on my personal experience, choosing a broker that provides access to multiple trading platforms is wise. This is because, in the event of any issues with one platform, having alternatives readily available ensures you can continue to trade without any downtime.

What to avoid when choosing a zero-spread forex broker?

Below are some points to consider and pitfalls to avoid when selecting a forex broker:

  • Unregulated brokers: Steer clear of unregulated brokers as they may engage in fraudulent activities, and you might have no recourse to recover your funds in such cases.
  • Lack of transparency: Be cautious of brokers that make it difficult to find information about their trading fees, deposits, and withdrawals. Lack of transparency should raise a red flag.
  • Absence of live customer support: Ensure that the broker offers access to live customer support through web chat, phone, or social media. Make sure you can access help anytime you need it.
  • Be cautious of promises of unrealistic profits and conduct thorough research before finalizing your decision on a broker.

Taking the time to do your due diligence is crucial.

How to avoid Forex and CFD scams?

Avoiding forex and CFD scams is a significant concern for traders nowadays. To steer clear of scam brokers, consider the following factors:

  • Verify regulation and licenses: Check if the broker is regulated and possesses a valid license from the relevant regulatory authority in the country where they operate. Confirm this information from the regulator’s official online register.
  • Physical address and customer support: Ensure the broker has a physical address in a reputable country. Additionally, confirm that they offer live customer support accessible via phone to address any queries or concerns.
  • Conduct an internet search: Look up the broker online to identify any news articles or discussions that might highlight issues or concerns with their services.
  • Use reputable payment options: Opt for well-known and secure payment methods to safeguard your transactions and financial information.
  • Thoroughly review terms and conditions: Always read and understand the terms and conditions provided by the broker before proceeding with any trading activities.

By adhering to these guidelines, you can reduce the risk of falling victim to forex and CFD scams and enhance your overall trading experience.

Our Methodology

Having been at the forefront of the broker review industry for the last decade, FX Empire has developed a comprehensive methodology incorporating over 250 data points across nine distinct categories. These include:

  • Trust
  • Fees
  • Platforms and tools
  • Tradable instruments
  • Customer service
  • Deposit and withdrawals
  • Account types
  • Research
  • Education

When identifying the top zero spread forex brokers, our team utilized the valuable insights derived from this research, along with the following factors:

  • Top score from our 250-point rating review
  • A range of zero-spread trading accounts
  • Lowest commissions possible compared to the industry average
  • The broker’s minimum deposit, and whether it is high or low
  • The safety of the broker, its regulation, and reputation
  • Accessibility of the trading platforms
  • The variety of tradable instruments and trading tools offered

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

A zero spread broker is one that offers an account providing quotes with zero spreads – no difference between the buy price and sell price.
Top-5 forex brokers offering zero spreads include FP Markets, IC Markets, RoboForex, Orbex, and FXTM.
Not all zero-spread forex brokers are regulated. However, it is wise to stick to a zero-spread forex broker that is regulated by a reputable financial authority.
Zero-spread brokers earn their money by charging a commission per trade and possible markups on any overnight fees and other non-trading costs such as inactivity or deposit and withdrawal fees.
Benefits include lower trading costs and transparency. Drawbacks can include higher commissions and minimum deposit requirements.
Yes, zero-spread brokers may charge higher commissions, and there could be fees for withdrawals or inactivity. Also, a zero-spread broker cannot guarantee a zero spread 24 hours a day as it will depend on market volatility.
The spread is calculated by subtracting the bid price from the ask price. The difference is called the spread.
Zero-spread accounts have no difference between the bid and ask price, while raw-spread accounts have very low spreads, often close to zero.
The minimum deposit for a zero-spread account varies by broker, but it can range from $10 to $25,000.
Not necessarily. Zero spreads are usually only available on major currency pairs and during certain market conditions.
Some brokers may have restrictions on scalping or high-frequency trading with zero-spread accounts, but it varies between brokers.
Zero-spread brokers can be suitable for all traders, but they may be particularly beneficial for day traders and scalpers.
The best zero-spread broker for beginners depends on various factors, including educational resources, customer support, and user-friendly platforms. According to our research, RoboForex may be a good option.
The best zero-spread broker for professional traders would offer advanced trading tools, high leverage, and a wide range of financial instruments. A broker such as Orbex may be worth considering.
Negative balance protection ensures that a trader's account cannot go below zero in the event of an adverse move in the market. If the trader's account balance falls to zero, the broker will close out their positions and absorb the loss rather than require the trader to cover the negative balance.
To verify if your broker offers negative balance protection, you can review the terms and conditions available on their website or reach out to their customer support directly. Brokers regulated by Tier-1 authorities, such as the UK FCA, CySEC, and ASIC, are obligated to provide this protection to retail traders as a regulatory requirement
A compensation scheme is a plan to pay back traders in case the Forex broker becomes insolvent. Such schemes often have specific eligibility criteria, such as a maximum compensation limit per investor or per claim, and may only cover certain types of financial instruments or transactions.
To confirm if your broker belongs to a compensation scheme, you can review the broker's terms and conditions on their website or get in touch with their customer support. Brokers regulated by specific Tier-1 authorities, such as the UK FCA and CySEC are mandated by law to provide real traders access to a compensation scheme.
Segregated funds refer to the practice of keeping clients' funds distinct from the broker's own operational funds. This precaution is taken to safeguard clients' money in the event of the broker's bankruptcy or other financial difficulties.
To identify if your broker segregates client funds, you can examine the broker's terms and conditions on their website or communicate with their customer support directly. Brokers licensed by Tier-1 regulators, such as the UK FCA, CySEC, and ASIC, are obligated to provide this safeguard to retail traders as a legal requirement.

About the Author

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.