Winners Summary
Lowest effective spreads – Tickmill
Tickmill is an extremely competitive broker in the commissions and fees category, thanks to its widely available Pro account as well as the broker’s VIP account offering – both of which feature very low average spreads, coupled with very low per-trade commissions.
Pro account: On Tickmill’s Pro account, I calculated Tickmill’s effective average spread to be just 0.51 pips (determined using October 2023 average spread data of 0.11 pips for the EUR/USD pair including a round-turn commission of $2 per trade, or 0.40 pips per round-turn). Tickmill’s Pro account requires just a $100 deposit, making it widely available beyond active traders and high-net worth investors.
VIP account: If you are looking for even lower effective spreads, Tickmill offers a VIP account featuring the same conditions as the Pro account, except commissions are cut in half to just $1 per side or 0.2 pips per round turn (though the account requires a hefty $50,0000 deposit).
With these account options, Tickmill provides some of the lowest effective average spreads in the industry. Simply put, Tickmill is our top choice in 2024 for zero spread forex brokers.
Great pricing for active traders – CMC Markets
CMC Markets has long been a leader within our Commissions & Fees category and delivers some of the lowest average spreads in the industry.
A key move that has helped CMC Markets build its position as a low-cost leader was the launch of its FX Active program, which is akin to a zero-spread account (with minimum spreads of 0 pips), coupled with low per-trade commissions of $2.50 per trade. CMC’s commission-based pricing under FX Active delivers average spread values that are among the lowest we have seen.
Aside from its FX Active pricing, CMC Markets offers competitive spreads in its spread-only pricing model. Finally, if you are an active trader, CMC Markets offers an active trader rebate program (in jurisdictions where rebates are permissible) to help you offset trading costs when you surpass certain volume thresholds each month. Read more about CMC Markets’ fees and features.
Zero spread investment offerings comparison
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Best forex brokers for zero spread accounts in 2024
Now that you’ve seen our picks for the top low-cost forex brokers, check out our rankings of the best brokers for zero spread accounts. We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.
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Methodology
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
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.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS 12.5 to test trading on the go. We also test on mobile devices; for Apple, we test using the iPhone XS running iOS 15, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 12.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
