Low Spread Forex Brokers

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My brothers, I’m unlucky, I always end up scammed like this. What doesn’t save me is the fact that they are tailor-made. Don't do like me or you won't make any money. Don't mess with Smart rVid.

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I was an idiot and thought that this was a normal broker with whom I could make good money if I didn’t take too much risk, plus they promised me consultations so that I would feel confident. Therefore, I opened an account with $1000 at once to get wider leverage and better conditions. It turned out that there is nothing good there; the spreads are very wide, and at the moment of transactions there are hidden commissions that turn the profit into dust. In the end, I got tired and I submitted a withdrawal; it turned out that they were not going to give me the money until I paid the insurance of $500. Of course, I refused and they immediately gave me a ban.

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This is a very bad broker and you can’t trust him, he lures you in, I know from experience. He started calling me about a week ago and actively forced me to open an account with him, and this continued for 2 days until I agreed. They immediately demanded insurance fees from me, I refused to pay them and received an account ban, that is, the scammers simply stole my money for themselves and did not give anything back. I already contacted the prosecutor’s office and they said that these swindlers are sitting somewhere in another country.

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The last time I trust a broker from the Internet is simply no good anymore. If others were simply cutting off my profit, this particular idiot didn’t even want to return the deposit. Not only did he constantly put a spoke in the wheels with his jumps in spreads, but then he also canceled withdrawal requests one after another without explaining the reasons. I tried to contact them in different ways, but apparently they no longer need what they have, they have already gotten through the roof.

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I was seduced by registration in three countries and a solid website, everything at first glance looks very convincing. Therefore, I topped up the deposit. I was hoping to make good money, but it turned out that I donated my earned money to the afirists. When he received the first thousand from me, he immediately wanted more and began persuading me to give him more, without giving any objective reasons. They just demanded and that’s all, I naturally refused and put everything on the line, but I failed to take anything away.

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I never managed to register even though I was really excited about it. I was very interested in what this swindler was offering there. As I understand it, the promo code is given only to those who are definitely ready for a replenishment. I just spilled it and lost my memory.

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Brokers with Low Spreads: A Crash Course for Traders

Spread in Trading: The spread is the difference between the buying and selling price of a financial instrument. It exists in all cases. If the spread is zero, buy and sell transactions cancel each other out.

Traders should understand that a broker promising zero spreads is likely a scam. It’s just not that simple.

For an average broker, the spread is higher than on the market. This includes a fee for service. In other words, the broker profits twice—when the trader enters and exits the market.

Another way brokers make money is through commissions. They offer a market spread but charge a fixed fee for opening and closing positions.

A third option is a commission plus an increased spread. With reputable brokers:

    1. The commission is much lower than those who charge only a commission.

    1. The spreads are narrower than those who don’t charge a commission.

Compared to competing brokers, these trader expenses can be considered average.

Calculating Commissions: Commissions are calculated based on the trade volume. For example, $7 per lot for a full round turn. This means the trader pays $3.50 to open and close a lot position. This is advantageous for larger trade volumes during strong trends.

Brokers with Low Spreads and No Commission: What Does It Mean?

When the spread is low and the broker charges no commission, the broker:

    1. Simulates trading and embezzles trader funds. Why would a broker take spreads and commissions if they could take it all?

    1. Deceives traders. The broker promises low spreads but inflates them during trades. This reduces trader profits and increases losses.

Market spreads can widen during strong trends due to an imbalance between buyers and sellers.

Such occurrences are quite rare, especially in liquid markets like the forex market. If your broker regularly widens spreads during normal market movements, they’re likely fraudulent.

Found brokers with the lowest spreads? Investigate the reasons. Honest brokers don’t work for free either. They need funds too. How to understand the situation? Open a minimum deposit and observe price behavior at different time intervals.

Low Spreads of Forex Brokers: A Marketing Tactic That Works

When brokers promise low spreads, it applies to the most liquid instruments, like EUR-USD.

The more liquid the market, the lower the spread. If an asset lacks high liquidity, like CFDs, indices, commodities, cryptocurrencies, the spread can be enormous. This includes brokers that offer them.

If a broker promises low spreads for all assets, don’t believe it. They’re trying to deceive you.

Narrow Spreads: What Are They?

What spread can be considered narrow? It depends on the asset type. For major pairs, it’s 0.01 pips. For exotics or crosses, 5 pips is excellent. For crypto pairs, it can reach 5000 pips.

The spread for a specific instrument can be considered narrow only if it’s significantly lower than most brokers on the market. Sometimes this plays a significant role in trading and reduces risks.

Who Benefits from Narrow Spreads?

Pip scalpers and day traders are the biggest fans of narrow spreads. These strategies require high technical complexity, a good broker connection, minimal order execution delays, and reliable trading software.

Scalpers profit from multiple short-term positions. Typically, the profit from each trade is a few pips, rarely more than 10. That’s why the narrower the spread, the better.

Scalpers must consider the commissions charged by brokers with low spreads. For this, they need to allocate a few pips of profit.

For traders with medium and long-term positions, narrow spreads aren’t essential. These positions aim for tens or hundreds of pips in profit.

Low spreads are crucial for day traders of liquid assets who avoid positions during strong market trends. Spreads can widen significantly, disrupting trading strategies.

Rating of Brokers with Low Spreads

Top brokers offering narrow spreads are those with reasonable commissions who operate legally. Scalpers and intraday traders use them.

How to choose a reliable broker? Traders should consider the spreads of financial instruments they want to trade. There’s a risk that a specific broker’s spreads may be higher than competitors’, resulting in losses.