If you are an experienced trader, then a low spread standard account might be perfect for you. But, where can you find it?
Most traders understand that there are many types of broker accounts. One of the most common account types is the standard account. A lot of traders tend to overlook this account since it's usually associated with higher deposit requirements and generally being more 'expensive' compared to other 'low spread' accounts. It explains why most newbies will go to other accounts that blatantly promote low spreads like raw accounts.
The truth is, there are a lot of brokers with low spread standard account nowadays. These accounts are mostly available for popular trading platforms like MT4 or MT5. The question is, why should you consider using a standard account?
Why Standard Account is a Good Choice
If you are an experienced trader, the standard account might be the perfect match for you. This account type is geared towards more experienced traders, institutions, and individuals with minimal available funding of around $1000. The standard account usually offers a wider range of instruments from stocks, currencies, commodities, indices, and cryptocurrency. It is clearly made for traders who are looking for bigger opportunities in the market, which is why the commission for standard accounts is usually higher.
Some standard accounts require a high budget so the risk can be too big for someone who barely enters the financial markets. A higher minimum balance is often mandatory, which can be a burden for new traders with minimum budgets. That being said, even professional traders will try to cut their budgets from time to time. This is where a low spread standard account comes in handy.
Why Spread Matters?
Every trader must have understood that spread is very important, as it can affect losses and gains in their trades. Low spreads will have less operating cost, while high spreads will require traders to gain more profits to cover the cost. Especially if you are a scalper, the cost of a spread might swallow your gain. If that's the case, you won't be able to generate profits at all. That is why you should find brokers that offer competitive spreads.
Choosing the best broker with a low spread standard account can be a great way to reduce your trading cost. But, you must also take into account other criteria in addition to the spreads like regulations, trading platforms, instruments to trade, and other unique features that might help your trading activities.
| Pair | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | Exness | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | IC Markets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets | ThinkMarkets |
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| EUR/USD | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 7.6 | 24.7 | 24.7 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.6 | 2.5 | 0 | 0.1 | 0 | 0 | 0 | 1.8 | 1.8 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0.1 | 0 | 0 | 0 | 0.9 | 0.9 | 0 | 0 | 0 | 0 | 1.9 | 7 | 7 | 0 | 0 | 0 | 0 | 0 | 1.2 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.6 | 8.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.1 |
| GBP/USD | 0.7 | 0.7 | 0.7 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.7 | 0.7 | 6.9 | 8.3 | 8.3 | 0.8 | 0.7 | 0.7 | 0.7 | 0.8 | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.7 | 2.5 | 0.1 | 0 | 0 | 0.1 | 0 | 0.6 | 0.6 | 0 | 0 | 0 | 0 | 0.2 | 0.9 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0.7 | 0.7 | 0 | 0 | 0 | 0 | 1.4 | 8.7 | 8.7 | 0 | 0 | 0.1 | 0 | 0 | 2.1 | 2.1 | 0 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.6 | 0.3 | 0.2 | 0.1 | 0.4 | 0.2 | 0.1 | 1.7 | 1.7 | 0.3 | 0.1 | 0.3 | 0.3 | 0.3 | 0.7 | 0.7 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.5 | 0.5 | 0.1 | 0.1 | 0.3 | 0.1 | 0.5 | 6.6 | 6.6 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 1.2 | 1.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.8 | 0.8 |
| USD/JPY | 0.7 | 0.7 | 0.7 | 0.7 | 0.6 | 4.4 | 4.4 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 4.3 | 4.3 | 0.6 | 0.7 | 0.6 | 0.7 | 0.7 | 4.3 | 4.3 | 4.3 | 0.7 | 0.7 | 0.7 | 6.8 | 31.1 | 31.1 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 2.7 | 2.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 10.1 | 10.2 | 0 | 0 | 0.3 | 0.3 | 0.2 | 0.8 | 0.8 | 0 | 0 | 0.2 | 0.1 | 0 | 2.4 | 2.4 | 0.2 | 0.1 | 0 | 0 | 0 | 1.1 | 1.1 | 0 | 0 | 0 | 0.2 | 3.4 | 7.2 | 7.2 | 0 | 0 | 0 | 0.1 | 0.1 | 1.6 | 1.6 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 4 | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | 5.2 | 5.2 | 0 | 0 | 0.1 | 0 | 0 | 2.4 | 2.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.6 | 0.1 |
These are some of the best brokers you might want to consider:
1. IC Markets
IC Markets probably has one of the best low spread standard accounts on the market. This brokerage's standard account offers spreads from 0.6 pips with a low commission fee of $0 per lot per side. IC Market provides MetaTrader and cTrader as the trading platforms, but their standard account is only available for MetaTrader only. You can get leverage up to 1:500 with minimum deposits of $200, as well as access to 64 currency pairs and index CFD trading. This can be transferred through various methods including Qiwi.
If you think a standard account isn't for you, IC Markets presents a raw Spread account available on both MetaTrader and cTrader. You can enjoy spreads from 0.0 pips, and commissions starting from $6 per round-turn ($7 for MetaTrader). The minimum deposit is $200 with 1:500 leverage, similar to the standard account. IC Markets allows all trading styles in raw accounts and standard accounts, which means scalping and hedging are not restricted. This spread works for all instruments including gold trading.
This ASIC-regulated broker invested heavily in technology in order to give you faster order executions. IC Markets servers are in the NY4 & LD5 data center in New York & London respectively, to ensure the lowest latency and fastest possible execution. They also partnered with the world's best trading technology companies to bring you the ultimate trading experience and cutting-edge trading tools.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
2. Admirals
With spread starting from 0.5 on both MT4 and MT5 platforms, Admirals deserves to be recognized as the home to low spread standard account. You can trade with different kinds of instruments such as 39 currency pairs, 32 digital currency CFDs, 24 index futures CFDs, and many more. There are no commissions except for single share and ETF CFDs which start from 0.02 USD. This broker also supports one-click trading to make your trades easier.
3. Exness
Exness presents their standard account as commission-free that is a great fit for all traders, including beginners. With spreads starting from 0.3, this can be a great low spread standard account. Exness also provides one of the best spreads on gold trading. This account is available on both MetaTrader 5 and MetaTrader 4. The minimum deposit for the Exness standard account depends on the payment system, so you might want to check which options suit you. Right now this broker accepts bank cards, Bitcoin, Skrill, Neteller, Tether, WebMoney, and many more.
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
4. Pepperstone
Pepperstone is an ASIC-regulated broker offering low spread standard accounts with a minimum spread of 0.6 for forex pairs. This brokerage uses multiple liquidity providers from Tier 1 Banks and institutions to give you competitive quotes and deep liquidity on a wide range of instruments. This also allowed them to offer razor-sharp pricing and fast executions to all clients. Nevertheless, there will be commissions charged depending on which instruments you are trading with.
Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.
Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone.
They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.
Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:
- The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
- Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
- Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018
With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.
For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.
Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.
When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.
Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).
There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.
Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. You can start trading with a minimum lot of 0.01 (micro) and 1:400 leverage.
As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.
If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.
5. XM
With a minimum deposit of $5, XM probably has one of the most affordable low spread standard accounts. This broker applies spread as low as 1 pip on all majors and allows hedging on their standard account. XM grants you access to more than 1,000 tradable instruments which include forex, stock CFDs, indices, oil, and gold on MT4/MT5 with leverage up to 888:1.
XM Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under XM Group have significant experience as financial services providers worldwide.
Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia, XM Global Limited was established in 2017 with headquarters in Belize and Trading Point MENA Limited was established in 2019 with headquarters in Dubai.
XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) - Trading Point of Financial Instruments Ltd, FSC (Financial Services Commission) – XM Global Limited, the ASIC (Australian Securities and Investments Commission) - Trading Point of Financial Instruments Pty Ltd and DFSA (Dubai Financial Services Authority) - Trading Point MENA Limited.
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and EN Live Edu that is instructed by 16 global experts.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Crypto, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Precious Metals, Energies, & Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. Minimum deposit of $5 applies to Standard, Micro, and also Ultra-Low Accounts. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing services in more than 30 different languages across the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.
6. FBS
FBS standard account presents you with floating spreads starting from 0.5 pips and leverage up to 1:3000. There is no commission charged which makes it one of the best low spread standard accounts in the market. With only $100, you can trade with plenty of trading instruments like forex, metals, energy, and many more. This account is available on both MetaTrader 4 and MetaTrader 5. But, if you want to test it out first, FBS provides you with a demo account.
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by FSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
FBS spread begins from 0.5 pips for Pro account type and from 0.7 pips for Standard and Cent accounts. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading instruments: 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of FSCing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
7. XTB
The minimum spread of XTB's standard account is 0.5. Apart from the competitive spread, you can also trade with more than 2,000 instruments including forex, commodities, indices, cryptos, stock CFDs, and ETF CFDs. The maximum leverage is 1:500, but this can be adjusted dynamically. XTB uses xStation as their main trading platform, available on the web, desktop, mobile, and tablet devices. The best part is that there are no commission fees on XTB standard account.
With more than 15 years of experience, XTB (rebranded from X-Trade since 2009) is one of the largest brokers in the world. They have offices in more than 10 countries, including Belize, UK, Poland, Germany, Spain, and France. XTB Group is regulated by the world's biggest supervision authorities including the IFSC, FCA, KNF, and CySEC.
As a regulated company, XTB holds all retail clients' funds in a fully segregated account, meaning they are not mixed with the broker's operational funds. This enables traders who register in XTB to trade with confidence in their funds' safety.
XTB tries to provide an easy-trading anytime and anywhere. They have a mobile application, xStation to realize that vision. Traders can access financial markets from their fingertips and choose from over 1,500 CFD markets including 48 currency pairs, cryptocurrencies, 20 indices, commodities (gold, oil, silver, etc.), stock, and 60 ETFs from around the world. This application can be downloaded in Google Play and App Store.
Traders also can access their platform by PC. XTB offers a web trade platform with access to more advanced tools for more advanced traders. It's fully compatible with Chrome, Firefox, Safari, and Opera web browser. Traders are provided with fast and reliable trade execution speeds. No wonder this platform has successfully presented XYB with awards such as Best Trading Platform 2016 by Online Personal Wealth Awards. Additionally, MetaTrader 4 is also available when trading in XTB.
XTB charges fees for forex, indices, and commodities trading. The amount of fees differ based on the types of accounts. For example, in Pro Accounts, traders have to pay a commission from $3.5 per lot for forex and a commission from 0.08% per lot for stock CFDs and ETF CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When trading, clients have to prepare strategies. Based on XTB's data, 75% of retail investor accounts lose money when trading CFDs. Because of that, clients should consider their level of understanding of CFD trading and their affordability to take high risk.
Traders can increase knowledge by joining XTB's Trading Academy program. There is a vast array of content that's geared towards helping traders, including video tutorials, trading courses, articles, and much more. Traders can choose a topic from different levels of education and enhance their skills across the stages of the trading journey.
Furthermore, there are several ways to deposit funds in XTB, including bank transfer, credit cards (Mastercard, Maestro, Visa), as well as e-Wallets (Skrill, Paysafe, Neteller, and many more). But, some of these methods may incur additional charges. For example, when using Neteller methods, traders have to pay 1% of their deposited amount.
Traders can contact XTB's customer support that is available 24/7. They are ready to answer all of the traders' questions and solve the problems, whether by email, phone, or live chat.
Overall, XTB is recommended as an ideal broker with top-tier regulation and trading platforms. Its education feature is also worth joining in as many traders are still in the process of perfecting their consistency and continue to learn the dynamic change in the forex market.
After Thoughts
A standard account is often overlooked by many traders when actually, this account has a lot of potentials especially for those ready to step up their game. This account type also allows traders to access a wider range of instruments. Luckily, there are a lot of brokers offering low spread standard accounts nowadays. Some of them might charge a commission fee while others don't. That being said, standard accounts are mostly geared toward experienced traders since they usually require a bigger deposit fee.
Traders are often not sure whether to choose a standard account or a beginner-friendly account like a cent account. What is the difference between the two? Which one is worth your money?
11 Comments
Dec 31 2021
A little advice: spread affects your trading a lot. I always prefer brokers with lower spreads.
Jan 4 2022
There are all kinds of spread, I would suggest checking what type these accounts offer. Floating, or fixed.
Jan 5 2022
Never forget to check out their regulations. As for me, I always look for an ASIC broker or FCA.
Jan 11 2022
Is a standard account with a low spread better than a raw spread account? Or are they pretty much similar?
Jan 14 2022
Tips for newbies: low spread account usually comes with commissions, make sure it still within your funds.
Jan 17 2022
should I use low spread for day trading?
Mar 23 2023
The problem I face when using spreads that start from zero is that they often float away from the original value. For example, when a website states a spread of 0.5 pips, in reality, the spread can become 1 pip when I trade. I'm not sure if this is a common issue with the brokers listed in the article, but I have experienced this floating spread and it can be frustrating.
My question is, can the floating spread fluctuate like this and can it change over time while a trading position is still open? And why am I unable to get the minimum spread offered by brokers?
Mar 23 2023
When it comes to floating spreads, it's true that they can sometimes float away from the original value. This is especially true when market conditions are volatile or there's economic news that impacts currency pairs. Unfortunately, this means that the spread you see advertised on a website or in a trading platform may not be exactly what you get when you place a trade.
As for your question about why you might not be able to get the minimum spread offered by brokers, there could be a few reasons for this. It's possible that the minimum spread is only available under certain trading conditions, or that it's only offered for specific currency pairs. It could also be because you have a standard account instead of an ECN account, or because your broker has a variable spread that can change depending on market conditions.
Mar 23 2023
Yeah, I'm with you on that one, mate! It's true that brokers often have different spreads for different currency pairs. If you look at the list of brokers in the article, you'll see that they all offer different spreads for different currencies.
If you're after lower spreads, it's usually best to stick to the major currency pairs. You can easily spot these because they have USD either in front or behind the currency pair. Because these pairs are highly liquid and volatile, the spreads tend to be lower compared to other currency pairs. So, if you're looking to save some cash on your trades, it's definitely worth considering trading the major pairs.
Mar 23 2023
I'm a bit interested in IC Market because in addition to offering lower spreads up to 0.0 pips, it also offers one-time commissions. I mean while other brokers offer commission per lot, they offer commission per spin. I don't know exactly what it is, but it sounds very high. So I'm pretty excited about it.
And the article also said that IC Market's servers are in NY4 and LD5 in New York and London. I mean what's so special about it? And is it really the lowest latency and really fast to make a transaction?
Mar 23 2023
IC Markets is known for offering some of the lowest spreads in the forex industry, with spreads as low as 0.0 pips on some currency pairs. Their unique commission structure is also something that sets them apart from other brokers, as they charge commissions per round turn instead of per lot. (read more about that at here : IC Market Standard VS Raw Spread)
Essentially, this means that the commission is charged when a position is opened and then again when it is closed. While this commission structure may seem a bit different, it can actually work out to be quite cost-effective, depending on the size of your trades and your overall trading strategy.
As for their server locations in NY4 and LD5 in New York and London, this is actually a big deal in the forex world. These locations are known for having some of the lowest latency in the industry, which means that trade execution can be lightning-fast. This can be especially important for traders who use high-frequency trading strategies or who want to take advantage of small price movements. So, having servers in these locations can help to ensure that trades are executed quickly and efficiently.