10 Best Forex Brokers With Raw Spreads

Last updated September 2, 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
BrokerAnalysis Research Desk

Written by

BrokerAnalysis Research Desk

BrokerAnalysis Editorial Team

Fact Checked by

BrokerAnalysis Editorial Team

Top Shortlist for Global

#1
IC Markets
IC Markets
Review
#2
Moneta Markets
Moneta Markets
Review
#3
VT Markets
VT Markets
Review
Full Comparison
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Last reviewed:
By:BrokerAnalysis Research Desk
Fact-checked by:BrokerAnalysis Editorial Team
Last verified: Sep 2026

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

IC Markets

Editor's pick
Min. 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
Moneta Markets

Moneta Markets

Editor's pick
Min. deposit $50
  • FCA and ASIC regulated
  • ECN spreads from 0.0 pips
  • Native CopyTrader + DupliTrade copy trading
FCA (UK), ASIC (Australia), FSCA (South Africa)

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.
Why a 0.0-pip headline is only half the price: true cost is spread plus commission. Ten raw-spread accounts ranked on the combined number rather than the advertised figure.Watch on YouTube

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 IC Markets where it is available, followed by Moneta Markets, VT Markets, and Exness. Compare regulation, fees, platforms, account terms, and local funding fit before opening an account.

Cost-Focused Offers

Verified 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.

Browse All Promotions

Exness

FCA (UK)
Cashback / Rebate

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

IC Markets

ASIC (Australia)
Cashback / Rebate

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)
Cashback / Rebate

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

27 brokers · how we rank

Pricing and entry requirements.

BrokerWithdrawalCommissionAccountMarketsRegulation & fundingAction
IC Markets4.6/5.0
0.0 pips (Raw) | 0.8 pips (Standard)$20024-48 hours$3.50/lot (Raw Spread)
ASIC (Australia)CySEC (Cyprus)Seychelles FSA
0.0 pips (ECN)$501-2 business days$3/lot (ECN)
FCA (UK)ASIC (Australia)FSCA (South Africa)
VT Markets4.8/5.0
0.0 pips (Raw ECN) | 1.2 pips (Standard STP)$501-2 business days$3/lot per side (Raw ECN)
ASIC (Australia)FSCA (South Africa)FSC (Mauritius)
0.0 pips$10Instant$3.50/lotRaw Spread200+
CySECFCA
0.0 pips$10Instant for most electronic methods$20/milPrime12,000+
FSC
FP Markets4.5/5.0
0.0 pips (Raw)$100Same day to 1 business day$3/lot (Raw)
ASIC (Australia)CySEC (Cyprus)SVG FSA
0.0 pips$524 hours$3.00/lotZero Spread1,000+
FCACySEC
0.6 pips$524 hours$3.50/lotZero Account1,000+
ASICCySEC
FXCM4.3/5.0
1.3 pips (Standard)$501-2 business days$0 (Spread-based pricing)
FCA (UK)ASIC (Australia)CySEC (Cyprus)
0.0 pips$501-2 business days$3.00/lotRaw ECN40+
ASICFCA
0.0 pips$01 business day$3.00/lotECN26,000+
FMAFSA
0.0 pips (Raw ECN) | 1.2 pips (Standard)$101-2 business days$4/lot (Raw ECN)
FCA (UK)FSC (Mauritius)
0.0 pips (Razor) | 1.0 pips (Standard)$0 (Recommended $200)1-2 business days$3.50/lot (Razor)
ASIC (Australia)FCA (UK)CySEC (Cyprus)
0.0 pips$1024 hours$2.00/lotECN250+
FCACySEC
0.9 pips$1001-2 business daysNoneMarket Maker1,200+
ASICCBI
Deriv4/5.0
0.5 pips (Standard)$51 business day$0 (Spread only on most products)
MFSA (Malta)LFSA (Labuan)VFSC (Vanuatu)
XTB4.7/5.0
0.8 pips (Standard)$0Usually same day (free for >$50)$0 on Forex, Indices, Commodities
FCA (UK)KNF (Poland)CySEC (Cyprus)
FxPro4.4/5.0
0.0 pips (Raw+) | 1.2 pips (Standard)$1001 business day$3.50/lot (Raw+)
FCA (UK)CySEC (Cyprus)FSCA (South Africa)
0.0 pips$01-2 business days$3.50/lotPro140+
FCAASIC
Eightcap4.3/5.0
0.0 pips (Raw)$1001-2 business days$3.50/lot (Raw)
ASIC (Australia)FCA (UK)SCB (Bahamas)
Tickmill4.5/5.0
0.0 pips (Raw) | 1.6 pips (Classic)$1001 business day$2/lot (Raw)
FCA (UK)CySEC (Cyprus)FSA (Seychelles)
0.0 pips (Zero)$0Same day$4.50/round turn (Zero account)
ASIC (Australia)VFSC (Vanuatu)
0.0 pips (ThinkZero)$01-2 business days$3.50/lot (ThinkZero)
ASIC (Australia)FCA (UK)FSCA (South Africa)
0.0 pips (Raw)$0Same day$3.50/lot (Raw)
ASIC (Australia)VFSC (Vanuatu)
MultiBank4.6/5.0
1.5 pips (Standard) | 0.0 pips + $3/lot (ECN)$5024 hours$3/lot (ECN)
SCA (UAE) 20200000031VARA (UAE) VL/24/06/001ASIC (Australia)
0.1 pips$1001-2 business days$4.00/lotRaw300+
FCACySEC
GO Markets4.5/5.0
0.0 pips (GO Plus+) | 1.1 pips (Standard)$01-2 business days$3.00/side (GO Plus+)
ASIC (Australia)CySEC (Cyprus)FSC (Mauritius)
Rank 01 · best overall
IC Markets4.6/5.0
Spread
0.0 pips (Raw) | 0.8 pips (Standard)
Min dep.
$200
Withdrawal
24-48 hours
Commission
$3.50/lot (Raw Spread)
Account
Markets
ASIC (Australia)CySEC (Cyprus)Seychelles FSA
Visit IC Markets Read review
Rank 02
Moneta Markets4.1/5.0
Spread
0.0 pips (ECN)
Min dep.
$50
Withdrawal
1-2 business days
Commission
$3/lot (ECN)
Account
Markets
FCA (UK)ASIC (Australia)FSCA (South Africa)
Visit Moneta Markets Read review
Rank 03
VT Markets4.8/5.0
Spread
0.0 pips (Raw ECN) | 1.2 pips (Standard STP)
Min dep.
$50
Withdrawal
1-2 business days
Commission
$3/lot per side (Raw ECN)
Account
Markets
ASIC (Australia)FSCA (South Africa)FSC (Mauritius)
Visit VT Markets Read review
Rank 04
Exness
Spread
0.0 pips
Min dep.
$10
Withdrawal
Instant
Commission
$3.50/lot
Account
Raw Spread
Markets
200+
CySECFCA
Visit Exness Read review
Rank 05
RoboForex
Spread
0.0 pips
Min dep.
$10
Withdrawal
Instant for most electronic methods
Commission
$20/mil
Account
Prime
Markets
12,000+
FSC
Visit RoboForex Read review
Rank 06
FP Markets4.5/5.0
Spread
0.0 pips (Raw)
Min dep.
$100
Withdrawal
Same day to 1 business day
Commission
$3/lot (Raw)
Account
Markets
ASIC (Australia)CySEC (Cyprus)SVG FSA
Visit FP Markets Read review
Rank 07
HFM
Spread
0.0 pips
Min dep.
$5
Withdrawal
24 hours
Commission
$3.00/lot
Account
Zero Spread
Markets
1,000+
FCACySEC
Visit HFM Read review
Rank 08
XM
Spread
0.6 pips
Min dep.
$5
Withdrawal
24 hours
Commission
$3.50/lot
Account
Zero Account
Markets
1,000+
ASICCySEC
Visit XM Read review
Rank 09
FXCM4.3/5.0
Spread
1.3 pips (Standard)
Min dep.
$50
Withdrawal
1-2 business days
Commission
$0 (Spread-based pricing)
Account
Markets
FCA (UK)ASIC (Australia)CySEC (Cyprus)
Visit FXCM Read review
Rank 12
Hantec Markets4.4/5.0
Spread
0.0 pips (Raw ECN) | 1.2 pips (Standard)
Min dep.
$10
Withdrawal
1-2 business days
Commission
$4/lot (Raw ECN)
Account
Markets
FCA (UK)FSC (Mauritius)
Visit Hantec Markets Read review
Rank 13
Pepperstone4.8/5.0
Spread
0.0 pips (Razor) | 1.0 pips (Standard)
Min dep.
$0 (Recommended $200)
Withdrawal
1-2 business days
Commission
$3.50/lot (Razor)
Account
Markets
ASIC (Australia)FCA (UK)CySEC (Cyprus)
Visit Pepperstone Read review
Rank 14
FXTM
Spread
0.0 pips
Min dep.
$10
Withdrawal
24 hours
Commission
$2.00/lot
Account
ECN
Markets
250+
FCACySEC
Visit FXTM Read review
Rank 15
AvaTrade
Spread
0.9 pips
Min dep.
$100
Withdrawal
1-2 business days
Commission
None
Account
Market Maker
Markets
1,200+
ASICCBI
Visit AvaTrade Read review
Rank 16
Deriv4/5.0
Spread
0.5 pips (Standard)
Min dep.
$5
Withdrawal
1 business day
Commission
$0 (Spread only on most products)
Account
Markets
MFSA (Malta)LFSA (Labuan)VFSC (Vanuatu)
Visit Deriv Read review
Rank 17
XTB4.7/5.0
Spread
0.8 pips (Standard)
Min dep.
$0
Withdrawal
Usually same day (free for >$50)
Commission
$0 on Forex, Indices, Commodities
Account
Markets
FCA (UK)KNF (Poland)CySEC (Cyprus)
Visit XTB Read review
Rank 18
FxPro4.4/5.0
Spread
0.0 pips (Raw+) | 1.2 pips (Standard)
Min dep.
$100
Withdrawal
1 business day
Commission
$3.50/lot (Raw+)
Account
Markets
FCA (UK)CySEC (Cyprus)FSCA (South Africa)
Visit FxPro Read review
Rank 19
Axi
Spread
0.0 pips
Min dep.
$0
Withdrawal
1-2 business days
Commission
$3.50/lot
Account
Pro
Markets
140+
FCAASIC
Visit Axi Read review
Rank 20
Eightcap4.3/5.0
Spread
0.0 pips (Raw)
Min dep.
$100
Withdrawal
1-2 business days
Commission
$3.50/lot (Raw)
Account
Markets
ASIC (Australia)FCA (UK)SCB (Bahamas)
Visit Eightcap Read review
Rank 21
Tickmill4.5/5.0
Spread
0.0 pips (Raw) | 1.6 pips (Classic)
Min dep.
$100
Withdrawal
1 business day
Commission
$2/lot (Raw)
Account
Markets
FCA (UK)CySEC (Cyprus)FSA (Seychelles)
Visit Tickmill Read review
Rank 22
Fusion Markets4.5/5.0
Spread
0.0 pips (Zero)
Min dep.
$0
Withdrawal
Same day
Commission
$4.50/round turn (Zero account)
Account
Markets
ASIC (Australia)VFSC (Vanuatu)
Visit Fusion Markets Read review
Rank 23
ThinkMarkets4.3/5.0
Spread
0.0 pips (ThinkZero)
Min dep.
$0
Withdrawal
1-2 business days
Commission
$3.50/lot (ThinkZero)
Account
Markets
ASIC (Australia)FCA (UK)FSCA (South Africa)
Visit ThinkMarkets Read review
Rank 24
Global Prime4.4/5.0
Spread
0.0 pips (Raw)
Min dep.
$0
Withdrawal
Same day
Commission
$3.50/lot (Raw)
Account
Markets
ASIC (Australia)VFSC (Vanuatu)
Visit Global Prime Read review
Rank 25
MultiBank4.6/5.0
Spread
1.5 pips (Standard) | 0.0 pips + $3/lot (ECN)
Min dep.
$50
Withdrawal
24 hours
Commission
$3/lot (ECN)
Account
Markets
SCA (UAE) 20200000031VARA (UAE) VL/24/06/001ASIC (Australia)
Visit MultiBank Read review
Rank 26
HYCM
Spread
0.1 pips
Min dep.
$100
Withdrawal
1-2 business days
Commission
$4.00/lot
Account
Raw
Markets
300+
FCACySEC
Visit HYCM Read review
Rank 27
GO Markets4.5/5.0
Spread
0.0 pips (GO Plus+) | 1.1 pips (Standard)
Min dep.
$0
Withdrawal
1-2 business days
Commission
$3.00/side (GO Plus+)
Account
Markets
ASIC (Australia)CySEC (Cyprus)FSC (Mauritius)
Visit GO Markets Read review

We earn a commission when you open an account through the buttons above. It does not change the ranking — our methodology. High risk: 68–80% of retail CFD accounts lose money.

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In-Depth Broker Analysis

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.

IC Markets logo
Our Rating
4.6/5.0
Best ForScalpers, EA traders & low-latency algorithmic trading
Min Deposit$200

IC Markets Review Summary

IC Markets is a multi-regulated broker with MT4, MT5, cTrader, TradingView access, 0.0 pips (Raw) | 0.8 pips (Standard) on EUR/USD, and $200 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.

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
Moneta Markets logo
Our Rating
4.1/5.0
Best ForECN traders & copy-trading followers across Asia-Pacific
Min Deposit$50

Moneta Markets Review Summary

Moneta Markets is a multi-regulated broker with MT4, MT5, AppTrader, ProTrader access, 0.0 pips (ECN) on EUR/USD, and $50 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.

Pros
  • FCA and ASIC regulated
  • ECN spreads from 0.0 pips
  • Native CopyTrader + DupliTrade copy trading
  • Low $50 minimum deposit
Cons
  • Relatively newer brand vs. legacy competitors
  • Ultra ECN tier needs $20,000
VT Markets logo
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 logo
Our Rating
4.5/5.0
Best ForRaw Spread 0.0
Min Deposit$10

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 logo
Our Rating
4.5/5.0
Best ForInnovative Trading Tools
Min Deposit$10

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
FP Markets logo
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 logo
Our Rating
4.5/5.0
Best ForZero Spread Account
Min Deposit$5

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 logo
Our Rating
4.5/5.0
Best ForZero Account
Min Deposit$5

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
FXCM logo
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
Vantage Markets logo
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

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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

  1. IC Markets
  2. Exness
  3. HFM
  4. BrokerAnalysis
  5. BrokerAnalysis
  6. BrokerAnalysis

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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.