Forex Brokers with Fixed Spreads

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: December 11, 2024

‹
• Jump to:
• Main Features
• Compared By Leverage and Commission per Lot
• What are Fixed Spread Brokers?
• Advantages of Fixed Spreads
• Disadvantages of Fixed Spreads
• Fixed Spreads vs. Variable Spreads
• Key Features to Look for
• Who Should Use Fixed Spreads?
• Tips for Choosing the Right Broker
• Final Thoughts
›

Forex trading is not just about trading currencies. Understanding different costs and brokerage models is also important. Due to predictable structure, fixed spread brokers are popular among traders. Let’s delve into more details about it.

1. 

   Pepperstone

   Rating: 4.6

   75.5% of retail investor accounts lose money

2. 

   easyMarkets

   Rating: 4.5

   71% of retail investor accounts lose money

3. 

   Forex.com

   Rating: 4.5

   77.7% of retail investor accounts lose money

4. 

   AvaTrade

   Rating: 4.4

   76% of retail investor accounts lose money

5. 

   eToro

   Rating: 4.2

   51% of retail investor accounts lose money

6. 

   Plus500

   Rating: 4.1

   82% of retail investor accounts lose money

7. 

   FxPro

   Rating: 4.0

   74% of retail investor accounts lose money

8. 

   InstaForex

   Rating: 3.2

9. 

   Iron FX

   Rating: N/A

   67.62% of retail investor accounts lose money

Main Features of the Best Forex Brokers with Fixed Spreads

1. TRADE NOW READ REVIEW
   Pepperstone

   Min Deposit

   $0

   Trading Instruments

   Forex, Indices, Commodities, Cryptocurrencies, Share CFDs, ETFs

   Regulators

   UK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)

   Trading Platforms

   TradingView, MT5, MT4, cTrader

   Spread

   From 0.0 pips (Razor Accounts), 1 pip (Standard Accounts)

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill

   Withdrawal Methods

   Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill

   75.5% of retail investor accounts lose money

   Pepperstone facilitates CFD trading with more than 90 forex pairs on top of a comprehensive suite of over 1,200 other financial instruments. The broker has received authorization from multiple first-tier regulators, including ASIC, CySEC, FCA, and BaFin. The spreads for most major currency pairs start from 1 pip when trading with Standard accounts.

   The broker is an excellent choice for beginner and intermediate traders, allowing them to expand their knowledge with trading guides, free videos, and expert-led webinars. Pepperstone supports several popular platforms, including MT5, MT4, cTrader, and TradingView. Retail leverage for forex trading is either 1:30 or 1:200, depending on the country of the onboarding client.

2. TRADE NOW READ REVIEW
   Plus500

   Min Deposit

   $100

   Trading Instruments

   CFDs on: Forex, Crypto, Indices, Commodities, Stocks, Options, ETFs

   Regulators

   FSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250)

   Trading Platforms

   Proprietary desktop and mobile platforms

   Spread

   0.8 pips

   Leverage

   1:30

   Deposit Methods

   Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay

   Withdrawal Methods

   Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay

   82% of retail investor accounts lose money

   Plus500 is a multi-regulated broker reaching customers from many jurisdictions, including the US, the UK, Australia, and Europe. Clients can trade over 60 minor, major, and exotic pairs. The broker implements two mechanisms for quoting spreads, dynamic and fixed. Spreads of 0.1 pip are available for major pairs like EUR/USD.

   The maximum leverage for the pair is either 1:30 or 1:300, depending on your country. Forex traders at Plus500 will benefit from an informative economic calendar and exhaustive trading guides. The broker uses an innovative proprietary platform compatible with most desktop and portable devices. Third-party platforms like MT4 and MT5 are unavailable at the moment.

3. TRADE NOW READ REVIEW
   eToro

   Min Deposit

   $50 or $100 based on country ($10 for the UK)

   Trading Instruments

   Crypto, CFDs on Forex, Stocks, Commodities, Crypto, ETFs, and Indices

   Regulators

   FCA, CySEC, ASIC, MFSA, ADGM, FSA, FINRA/FinCEN, AMF, SEC, GFSC

   Trading Platforms

   eToro Investing, eToro App, TradingView, eToro CopyTrader

   Spread

   1 pip

   Leverage

   1:30

   Deposit Methods

   eToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24

   Withdrawal Methods

   PayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer

   51% of retail investor accounts lose money

   A frontrunner in providing copy trading services, eToro facilitates trading and investing in over 7,000 assets, including forex, commodities, stocks, indices, and cryptocurrencies. The broker operates with licenses from CySEC, FCA, ASIC, and SEC, among other prominent regulators. It offers both fixed and floating spreads.

   Over 50 fiat currency pairs are tradable via contracts for difference, with spreads from 1 pip for highly liquid major pairs. Customers can deposit instantly with cards, PayPal, Skrill, Neteller, Klarna, and iDeal. Bank transfer deposits require 4 to 7 business days. In most countries, the minimum deposit amount is $50.

4. TRADE NOW READ REVIEW
   AvaTrade

   Min Deposit

   $100

   Trading Instruments

   Forex, Major stock indices, Cryptocurrencies, Commodities, Bonds, Individual Shares, ETFs

   Regulators

   FFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662)

   Trading Platforms

   MetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial, AvaOptions, DupliTrade

   Spread

   From 0.9 pips (retail), 0.6 pips (pro)

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire

   Withdrawal Methods

   Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire

   76% of retail investor accounts lose money

   AvaTrade uses the market-maker pricing model, passing customer orders through its in-house dealing desk. All spreads quoted by the broker are over market and typically equal 0.9 pips for EUR/USD, 1.3 pips for GBP/USD, 1.8 pips for EUR/JPY, and 1.4 pips for NZD/USD.

   Depending on their client classification, customers can trade major forex pairs with leverage of up to 1:30 (retail) or 1:400 (professional). Professional traders enjoy slightly lower fixed spreads (0.6 pips for EUR/USD). AvaTrade caters to customers with several platform options, including DupliTrade, MT5, and MT4. The minimum deposit requirement is $100.

5. TRADE NOW READ REVIEW
   easyMarkets

   Min Deposit

   $100

   Trading Instruments

   Regulators

   CySEC (license no. 079/07), ASIC (license no. 246566), FSA (license no. SD056), and FSC (license no. SIBA/L/20/1135).

   Trading Platforms

   easyMarkets, MetaTrader 4, MetaTrader 5, TradingView

   Spread

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer

   Withdrawal Methods

   Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer

   71% of retail investor accounts lose money

   Licensed in Cyprus and Australia, this broker offers a lot of merits to forex traders as it provides competitive pricing for over 60 currency pairs. Fixed spreads are available for accounts connected to MT4, TradingView, and easyMarkets Web. MT4 accounts offer fixed spreads from 0.7 pips for EUR/USD, 1.3 pips for GBP/USD, and 1 pip for USD/JPY.

   All three account types require a minimum deposit of $25, facilitate commission-free trading, and offer maximum leverage of 1:30 (CySEC, ASIC entities). Customers from other jurisdictions can use leverage of 1:200 for easyMarket Web and TradingView accounts (1:400 for MT4).

6. TRADE NOW READ REVIEW
   Forex.com

   Min Deposit

   $100

   Trading Instruments

   Forex, Indices, Shares, Crypto, Bullion

   Regulators

   ASIC, MAS, FCA, CIRO, JFSA, CFTC, CySEC, CIMA, SFC, CySEC

   Trading Platforms

   MetaTrader 4, MetaTrader 5, TradingView, WebTrader, NinjaTrader

   Spread

   from 0.8

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, Skrill, Neteller, Bank Transfer

   Withdrawal Methods

   Visa, Mastercard, Skrill, Neteller, Bank Transfer

   77.7% of retail investor accounts lose money

   Forex.com customers have access to fixed or floating spreads, depending on what financial instruments they trade. The availability of fixed spreads also depends on market conditions. The broker can offer them during specific hours of the day or throughout the daily trading session.

   Spread-only accounts offer spreads as low as 1 pip and incur no commissions on forex trades. Users have access to performance analytics tools, economic calendars, trading signals, and market news from Reuters. Customers can fund their balance with cards, wire transfers, online banking, Skrill, and Neteller. The minimum deposit is $100.

7. TRADE NOW READ REVIEW
   InstaForex

   Min Deposit

   $1

   Trading Instruments

   Forex, CFD's on Stock, CFD's on Indices

   Regulators

   CySEC, FSC (St. Vincent and the Grenadines), FSC (British Virgin Islands)

   Trading Platforms

   MT4, MT5, WebTrader, IFXWeb

   Spread

   Leverage

   Deposit Methods

   Bank Wire, Visa, MasterCard, Bitcoin, Ethereum, Crypto, Neteller, Skrill

   Withdrawal Methods

   Bank Wire, Visa, Bitcoin, Ethereum, Crypto, Neteller, Skrill

   InstaForex caters to forex traders with over 100 currency pairs tradable with leverage from 1:1 to 1:1000 under the broker’s BVI entity. Clients seeking to trade with fixed spreads can choose from Insta.Standard and Cent.Standard accounts.

   Both options require minimum deposits of $1 and support EUR and USD as base currencies. Spreads range from 3 to 7 pips but traders pay no commissions. The minimum trade size is either 0.01 or 0.10 lots, depending on the account type. The cap on maximum trading volume is 10,000 lots.

8. TRADE NOW READ REVIEW
   FxPro

   Min Deposit

   $100

   Trading Instruments

   Forex, Shares, Energy, Indices, Futures, Metals

   Regulators

   FCA (No. 45052), CySEC (No. 078/07), SCB (No. SIA-F184), FSCA (No.45052)

   Trading Platforms

   MT4, MT5, cTrader, FxPro Edge (proprietary)

   Spread

   0.0 pips (Raw, Elite), 1.2 pips (Standard)

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, Maestro, Bank Transfer, Neteller, PayPal, Skrill, Union Pay

   Withdrawal Methods

   Bank Transfer, Mastercard, Visa, Union Pay, Maestro, PayPal, Skrill, Neteller

   74% of retail investor accounts lose money

   FxPro is a multi-licensed broker with a global reach extending to over 170 countries. The broker complies with the regulatory requirements of CySEC, FCA, FSCA, SCB, and FSA Seychelles. It supports MT5, MT4, and cTrader. FxPro has adopted the NDD pricing model but offers fixed spreads for nine major currency pairs.

   Onboarding customers must open FxPro MT4 Fixed accounts to trade commission-free with fixed spreads. The accounts support hedging and have minimum trade requirements of 0.01 lots. The broker accepts various deposit and withdrawal methods, including bank transfers, cards, and digital wallets (Skrill, PayPal, Neteller). FxPro recommends a starting balance of $1,000.

9. TRADE NOW READ REVIEW
   Iron FX

   Min Deposit

   $100

   Trading Instruments

   Regulators

   FCA (licensing no. 585561), FSCA (licensing no. 45276)

   Trading Platforms

   MetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App

   Spread

   Between 0 and 1,6 pips depending on the account type

   Leverage

   1:30

   Deposit Methods

   Visa, Mastercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard

   Withdrawal Methods

   Bank Wire

   67.62% of retail investor accounts lose money

   IronFX caters to traders looking for fixed spreads with three account types, all supporting swap-free and commission-free trading. Standard accounts offer fixed spreads of 1.9 pips. Premium and VIP accounts have fixed spreads of 1.7 and 1.5 pips. VIP accounts are denominated in USD.

   The other two accounts offer greater flexibility with eight base currencies (EUR, USD, JPY, AUD, GBP, CZK, PLN, BTC). Onboarding clients from certain jurisdictions can use maximum leverage of 1:1000. The broker provides a versatile range of over 80 currency pairs tradable via MT4. The TradeCopier platform enables customers to follow and copy top-performing traders in real time.

Forex Brokers with Fixed Spreads Compared By Leverage and Commission per Lot

Forex Brokers with Fixed Spreads by Spread

What are Fixed Spread Brokers?

Advantages of Fixed Spreads

Let’s find the core benefits of fixed spread brokers.

• Since spreads are fixed, the trading cost is predictable. You can easily calculate the cost regardless of market conditions.
• It provides ease of budgeting for the traders. Traders can be better at money management by calculating their costs upfront.
• Fixed spreads save you from wide spreads usually seen during news releases or market turbulence.

Disadvantages of Fixed Spreads

At the same time, there are some disadvantages as well.

• Fixed spreads mean a higher cost of trading during stable markets as variable spreads are low during such conditions.
• With fixed spread brokers, there is always a risk of requotes. Your orders may not be instantly executed during extreme volatility.
• Fixed spreads may not suit traders who like to scale. For example, high frequency traders open several positions and every pip of cost matters to them.

Fixed Spreads vs. Variable Spreads

Let’s compare both models to help you find what suits your trading style.

The trading cost can be high for fixed spread brokers as the variable spreads are mostly low with minimal to none markup added by them.

However, volatility response for variable spreads is usually negative for the traders as too wide spreads during extreme volatility could turn the table for the traders while fixed spread brokers change nothing in either market condition.

• Scalping involves multiple positions being opened and closed in a session. Variable spreads suit scalpers more than fixed spreads.
• For swing traders, fixed spreads provide cost stability over longer trades.
• For day traders, the choice primarily depends on number of positions traded in a day and market conditions.

Variable spreads are often doubted for less transparency as the brokers could manipulate the pricing. For fixed spreads, the ideal scenario is less trading and aiming for bigger gains. For example, if you trade once a day during the low volatile market hours. It could be an early Asian session or a late US session. You may aim for twenty pips target. This scenario is ideal for fixed spread brokers.

Key Features to Look for in Forex Brokers with Fixed Spreads

Once you have decided to opt for a fixed spread broker, consider the following features to find the best one.

1. Spread Range Across Major and Minor Pairs

   Check the spreads of major and minor pairs that you frequently trade. Make sure the broker offers competitive spreads for those pairs.

2. Transparency in Pricing and Commission Structure

   Usually, fixed spread brokers do not charge commissions. However, look for other costs like withdrawal fees, inactivity fees, etc. A transparent broker does not keep hidden fees.

3. Execution Speed and Trade Reliability

   Fixed spread brokers usually have requotes when prices fluctuate a lot. However, a good broker executes trades speedily with higher reliability.

4. Compatibility with Popular Trading Platforms

   Ensure the VPS is compatible with popular platforms like MetaTrader and cTrader. Some countries do not allow MetaTrader. Hence, check before signing up.

5. Broker Reputation and Regulation

   Once you see the above feature, then look for the regulation of a broker. If a broker is highly regulated, then you are good to sign up with it.

Who Should Use Fixed Spreads?

Let’s find out who should use fixed spread brokers.

1. Beginners and Small Account Traders

   Beginner traders may not be well acquainted with the markets. So, handling the variable spreads may be a bit challenging for them. Moreover, small account traders may not have access to the variable spread accounts as they require bigger deposits.

2. News Traders and High-Volatility Scenarios

   Due to a predictable cost structure and no change in spreads during highly volatile conditions, news traders can benefit from fixed spreads.

3. Traders with Specific Budget Constraints

   Traders who have budget constraints may like fixed spread brokers as they help them to strictly adhere to their financial plans.

Tips for Choosing the Right Broker with Fixed Spreads

Here are some important tips for you to pick the right fixed spread broker.

1. Assessing Your Trading Needs and Strategy

   Evaluate your strategy and find out your trading requirements and objectives. Not every trader and the strategy are meant to be aligned with the fixed spreads. Once you know the pros and cons of fixed spreads and you have clarity on your strategy, then go for it.

2. Checking Spreads During Volatile and Normal Markets

   Though brokers claim to provide fixed spreads, there are instances when brokers raise their spreads. It could be at the end of a session or the beginning of a session. Hence, observe the spreads during normal conditions and volatile markets as well.

3. Evaluating Trading Platforms and Tools Provided

   Always check what trading platforms are provided by the broker. The chosen broker must have a platform that is user-friendly for you. Also, find out what valuable tools are provided by the broker.

Final Thoughts

Fixed spread brokers can be a great choice for traders looking for cost predictability and stable spreads during highly volatile conditions. However, they may not suit scalpers and high frequency traders. Therefore, it is important to assess your trading needs and goals before choosing fixed spread brokers.