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Exness
FCA (UK)Up to 90% Daily Spread Rebates
Earn up to 90% of spread/commission back daily via partner codes. Premier clients earn 200-600 EXD.
Verified Jun 15, 2026
10 Best Forex Brokers With Raw Spreads
Last updated January 20, 2026
Access institutional-grade pricing with our top selection of raw spread forex brokers. Trade with 0.0 pip spreads and transparent commissions.
How We Ranked
Rankings blend trust, pricing, and platform quality. Risk warning: CFDs carry high risk.
Regulated brokersLow spreadsFast withdrawals
Written by
BrokerAnalysis Research Desk
Fact Checked by
BrokerAnalysis Editorial Team
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Use the guided matching flow to narrow your next broker by country, budget, and trading platform before you compare the full table.
Last reviewed:
•By:BrokerAnalysis Research Desk
•Fact-checked by:BrokerAnalysis Editorial Team
Our 2 top picks for raw spreads
We stand behind these two. Everything below is a fuller comparison and lower-weight alternatives.
#1 · Best for raw spreads
IC Markets
Editor's pickMin. deposit $200
- Consistently deepest liquidity and tightest raw spreads (0.0)
- Servers located in NY4 & LD5 datacenters for <40ms latency
- No restrictions on scalping, hedging, or EAs
ASIC (Australia), CySEC (Cyprus), Seychelles FSA
#2 · Strong alternative
TIO Markets
Editor's pickMin. deposit $50
- Holds an active FCA registration
- Low $50 minimum deposit
- Familiar MT4/MT5 platforms
FCA (UK)
Why these two
Of every broker we track, these two stand out specifically for raw spreads — we weigh regulation and safety first, then the exact strengths that matter for this use case. Everything below is the fuller comparison and lower-weight alternatives.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Trade only what you can afford to lose.
Do All Brokers Offer Raw Spreads?
No, not all brokers offer raw spreads. Only certain brokers provide this pricing model (typically ECN/STP brokers). Choosing a broker specialising in raw spread accounts is essential if this is a priority for your strategy.
What Are Raw Spreads in Forex Trading?
Raw spreads in forex trading refer to brokers offering direct market access with no markup on the spread. Our current ranking starts with VT Markets where it is available, followed by Exness, RoboForex, and FP Markets. Compare regulation, fees, platforms, account terms, and local funding fit before opening an account.
Cost-Focused Offers
Browse All PromotionsVerified rebates and cost-focused offers
For low-spread and ECN-style pages, we prioritize cashback, rebate, and commission-offset style promotions over louder bonus messaging.
Cashback / Rebate
IC Markets
ASIC (Australia)Up to $2.50/Lot Rebate + 21% Comm Off
Raw Trader Plus rebate up to $2.50/lot. Save ~$1.50/lot with 21% lifetime commission discount.
Verified Jun 15, 2026
FP Markets
ASIC (Australia)Refer a Friend: Earn up to $200
Referral bonus pays $50-$200 after a friend funds and trades the required volume.
Verified Jun 15, 2026
Raw Spread Metrics
| Broker | Link | ||
|---|---|---|---|
| IC Markets | 0.0 pips (Raw) | 0.8 pips (Standard) | $3.50/lot (Raw Spread) | Open |
| TIO Markets | From ~1.0 pips (confirm current terms) | Confirm current terms directly | Open |
| VT Markets | N/A | $3/lot per side (Raw ECN) | Open |
| Exness | 0.0 pips | $3.50/lot | Open |
| RoboForex | 0.0 pips | $20/mil | Open |
| FP Markets | N/A | $3/lot (Raw) | Open |
| HFM | 0.0 pips | $3.00/lot | Open |
| XM | 0.6 pips | $3.50/lot | Open |
| FXCM | N/A | $0 (Spread-based pricing) | Open |
| Vantage Markets | 0.0 pips | $3.00/lot | Open |
| BlackBull Markets | 0.0 pips | $3.00/lot | Open |
| Hantec Markets | N/A | $4/lot (Raw ECN) | Open |
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Our research team continuously monitors over 100 parameters per broker. Below is a detailed breakdown of our top-rated platforms, including their distinct advantages, ideal user profiles, and potential drawbacks.
Our Rating
4.6/5.0
Best ForScalpers, EA traders & low-latency algorithmic trading
Min Deposit$200
IC Markets Review Summary
IC Markets is an True ECN broker regulated by ASIC (Australia), CySEC (Cyprus), Seychelles FSA, SCB (Bahamas). Best suited to Scalpers, EA traders & low-latency algorithmic trading. EUR/USD from 0.0 pips (Raw) | 0.8 pips (Standard), minimum deposit $200.
Pros
- Consistently deepest liquidity and tightest raw spreads (0.0)
- Servers located in NY4 & LD5 datacenters for <40ms latency
- No restrictions on scalping, hedging, or EAs
- Excellent support for cTrader and TradingView
Cons
- Customer service can be slower during peak times
- Protection and leverage depend heavily on your account entity
- Basic research and educational material
Our Rating
3/5.0
Best ForTraders who have independently verified current terms and accept the trust concerns disclosed in our review
Min Deposit$50
TIO Markets Review Summary
TIO Markets is an Confirm current terms directly broker regulated by FCA (UK). Best suited to Traders who have independently verified current terms and accept the trust concerns disclosed in our review. EUR/USD from From ~1.0 pips (confirm current terms), minimum deposit $50.
Pros
- Holds an active FCA registration
- Low $50 minimum deposit
- Familiar MT4/MT5 platforms
Cons
- FCA entity's company history shows multiple prior name changes (recycled shell)
- Spain's CNMV has issued a public warning about this broker
- One of the lowest scores in our Forex Peace Army research across the full 62-broker dataset
Our Rating
4.8/5.0
Best Fortraders who want free signals, 100% deposit bonus, copy trading support, and Raw ECN pricing
Min Deposit$50
VT Markets Review Summary
VT Markets is a multi-regulated broker with MT4, MT5, VT Markets App, WebTrader access, 0.0 pips (Raw ECN) | 1.2 pips (Standard STP) on EUR/USD, and $50 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.
Pros
- 100% deposit bonus on first deposit (minimum deposit $50)
- Raw ECN account with 0.0 pip spread potential
- MT4 and MT5 available across desktop and mobile
- Free Telegram signals funnel through Unshakable Traders
Cons
- Entity, leverage, and protection level vary by country
- Free signals are educational support, not profit guarantees
- Traders still need to manage risk and verify terms before depositing
Exness Review Summary
Exness offers raw spreads from 0.0 pips with a low fixed commission. Their stable spreads are ideal for raw pricing strategies and automated trading.
Pros
- Regulation varies by entity
- Minimum deposit: $10
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw 0.0 — compare account types before opening
RoboForex Review Summary
RoboForex distinguishes itself with a wide range of account options. We found their raw spreads starting from 0.0 pips attractive. The broker features unique tools like CopyFX and R StocksTrader.
Pros
- Regulation varies by entity
- Minimum deposit: $10
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw 0.0 — compare account types before opening
Our Rating
4.5/5.0
Best ForECN traders, scalpers & Australian clients
Min Deposit$100
FP Markets Review Summary
FP Markets is a multi-regulated broker with MT4, MT5, cTrader, IRESS access, 0.0 pips (Raw) on EUR/USD, and $100 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.
Pros
- True ECN pricing from 0.0 pips
- ASIC and CySEC regulated
- cTrader and IRESS platforms
- Over 10,000 tradable instruments
Cons
- $100 minimum deposit
- IRESS platform has additional fees
- Limited educational content
HFM Review Summary
HFM's Zero Spread account offers super-tight raw spreads from 0.0 pips on major pairs with competitive commissions. It's a great entry point for raw spread trading.
Pros
- Regulation varies by entity
- Minimum deposit: $5
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw 0.0 — compare account types before opening
XM Review Summary
XM's Zero Account features raw spreads starting as low as 0.0 pips, perfect for traders who prefer commission-based trading with a highly regulated broker.
Pros
- Regulation varies by entity
- Minimum deposit: $5
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw 0.0 — compare account types before opening
Our Rating
4.3/5.0
Best ForAlgorithmic traders & historical data enthusiasts
Min Deposit$50
FXCM Review Summary
FXCM is a multi-regulated broker with Trading Station, MT4, TradingView access, 1.3 pips (Standard) on EUR/USD, and $50 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.
Pros
- 25+ years in business
- No dealing desk execution
- Strong API for algo trading
- Extensive historical data
Cons
- Spreads wider than ECN competitors
- Limited product range
- No MT5 support
Our Rating
4.5/5.0
Best ForPro-Level ECN Conditions
Min Deposit$50
Vantage Markets Review Summary
Vantage Markets provides professional-grade ECN conditions with spreads from 0.0 pips. Known for high transparency and speed, it is a top choice for serious traders.
Pros
- Regulation varies by entity
- Minimum deposit: $50
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw 0.0 — compare account types before opening
Interested in free trade signals while you research brokers?
Our signal community runs on VT Markets partnership access. Here is the full offer and activation process.
Join @unshakabletraders on Telegram — free signals, copy trading guide, and daily updates
Signals are provided free through our VT Markets partnership. Join the community and the registration link is pinned at the top.
Frequently Asked Questions About 10 Forex Brokers With Raw Spreads
Frequently Asked Questions
No, not all brokers offer raw spreads. Only certain brokers provide this pricing model (typically ECN/STP brokers). Choosing a broker specialising in raw spread accounts is essential if this is a priority for your strategy.
Brokers charge a commission on each trade instead of adding a markup to the spread. This commission is typically a fixed amount per lot traded (e.g., $3.00), providing transparency in trading costs.
Raw spreads can benefit beginners due to lower overall costs, but the commission structure can be slightly more complex to calculate than all-inclusive spreads. Beginners should ensure they understand how commissions affect their P&L before trading.
Standard spreads usually include the broker's profit markup built into the price, meaning no separate commission is charged but the spread is wider. Raw spreads have no markup (0.0 pips possible) but incur a separate commission fee.
Top Searched Questions
How do I choose a reliable forex broker in 2026?
Start by verifying the broker holds a Tier-1 license (FCA, ASIC, or CySEC). Compare raw spreads on EUR/USD, check withdrawal processing times, and test the demo account. BrokerAnalysis independently tests 67+ brokers each quarter using real funded accounts.
What makes a forex broker the 'best' overall?
The best forex broker combines Tier-1 regulation, spreads from 0.0 pips on raw accounts, fast execution under 50ms, a wide range of 70+ currency pairs, and transparent fee structures. Our testing ranks brokers across 8 categories including safety, costs, and platform quality.
Which forex brokers are consistently top-rated?
Consistently top-rated brokers typically hold multiple Tier-1 licenses, maintain segregated client funds, and offer competitive raw spreads. Brokers like IC Markets, Pepperstone, and FP Markets consistently score above 4.5/5 in independent testing by BrokerAnalysis.
What is forex trading and how does it work?
Forex trading involves buying one currency while selling another, profiting from exchange rate fluctuations. The forex market operates 24/5, processes $7.5 trillion daily, and is accessible through online brokers with as little as $10. Traders use technical and fundamental analysis to make decisions.
What is the best forex trading platform to use?
MetaTrader 4 remains the most popular platform for its reliability and Expert Advisor support. MetaTrader 5 adds depth-of-market and more timeframes. TradingView excels at charting, while cTrader offers the best market depth for active traders. Your ideal platform depends on your trading style.
How do forex trading platforms differ from each other?
MT4 is best for EA automation and beginner simplicity. MT5 adds stock CFDs and economic calendar integration. cTrader provides Level II pricing and algorithmic trading via cAlgo. TradingView offers social charting with 100+ indicators. Choose based on whether you prioritize automation, analysis, or execution speed.
What features should a trading platform have?
A quality trading platform needs: one-click execution, customizable charts with 50+ technical indicators, pending order types (limit, stop, trailing stop), mobile app parity, demo account access, and reliable uptime above 99.9%. Platform stability during high-volatility news events is critical.
How does the forex market work?
The forex market is a decentralized global marketplace where currencies trade in pairs. It operates across four major sessions (Sydney, Tokyo, London, New York), runs 24 hours on weekdays, and is the largest financial market with $7.5 trillion in daily volume. Prices move based on economic data, central bank policy, and geopolitics.
Information automatically localized based on "forex brokers" and related trends.
Sources & References
- IC Markets Trading Accounts— IC Markets
- Exness Accounts— Exness
- HFM Trading Accounts— HFM
- BrokerAnalysis ranking methodology— BrokerAnalysis
- BrokerAnalysis data sources— BrokerAnalysis
- BrokerAnalysis editorial policy— BrokerAnalysis
People Also Search For
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Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Not Financial Advice:
Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers. See Editorial Policy and Data Sources.
Affiliate Disclosure:
BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology. Read our Content Standards.
Regional Availability Notice
Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows the country-acceptance status captured in our latest eligibility checks.