Despite the high number of forex brokers claiming to provide raw spreads, there are only a few of them who truly offer the service in the UK.

Top Raw Spread Brokers in the UK

Forex raw spreads refer to direct access to the interbank market without any markup on spreads. Top forex brokers usually provide several types of accounts, but only one of them is the raw spread account.

All raw spread accounts deliver prices with the true cost of executing a trade, which is based on interbank rates in financial markets. Traders can trade with tight market spreads because raw spread brokers do not markup the spreads in this type of trading account — the broker will charge higher commission fees instead.

Here is a comparison of three top raw spread brokers in the UK.

Aspects Pepperstone Exness Tickmill
📃Licenses FCA (UK), ASIC (Australia), SCB (Bahamas) FCA (UK), CySEC (Cyprus), FSA (Seychelles), etc FCA (UK), CySEC, (Cyprus), DFSA (Dubai), etc
🇬🇧UK Office 70 Gracechurch St
London EC3V 0HR
United Kingdom
107 Cheapside, London, EC2V 6DN, United Kingdom 3rd Floor, 27 - 32 Old Jewry, London EC2R 8DQ, England
💲Account Currencies AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD and HKD AUD, CAD, CHF, CNY, EUR, GBP, GHS, HKD, SGD, USD, etc USD, EUR, GBP, ZAR
📞Customer Services +44 (800) 0465473 (UK toll free) 08001503223 Callback request via Tickmill website
💳Payment Bank transfer, Visa, Mastercard, PayPal, Neteller, Skrill, and Union Pay Bank transfer, VISA, Mastercard, JCB, Skrill, and Neteller Bank transfer, Visa, Mastercard, PayPal, Neteller, Skrill, Crypto payments, etc
💰Minimum Deposit $0 $200 $100
💸Commission Fees starting from $3 per side per lot up to $3.50 per side per lot starting from $2 per side per lot
Maximum Leverage (UK) 1:30 1:30 1:30
Maximum Leverage (non-UK entities) 1:200 (retail clients), 1:500 (professional clients) 1:unlimited 1:500

 

Pepperstone

Pepperstone offers two types of accounts: the Razor account and the Standard account. The Razor account is the one you should choose when looking for forex raw spreads. The Standard account offers raw spread plus 1 pip markup.

Here are the detailed conditions of Pepperstone's Razor account:

  • Trading platform: MT4, MT5, cTrader & TradingView
  • Commission: FX only, starting from 3 USD (per lot, per side)
  • Spreads: raw (from 0 pips)
  • Minimum deposits: $0 (it is advisable to deposit a minimum of $200)
  • Maximum leverage: 1:200 for retail clients, 1:500 for professional clients.
  • Account currencies: USD, EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, HKD
  • Instruments: Forex, commodities, indices, cryptocurrencies, shares, ETFs
  • Stop Out Level: 50% for retail, 20% for professionals

Visit Pepperstone official site for further information.

With fairly cheap commission fees and the lowest minimum deposit, Pepperstone's Razor account is very suitable for both beginners and experienced traders alike. However, it should be noted that Pepperstone may relegate you to non-UK entities under their brand if you want leverage over the limits established by the Financial Conduct Authority.

🌐 Website
pepperstone.com
Leverage
1:400
💼 Regulation
💲 Min Deposit
$0
Year Established
2010

Free education
Trading by telephone
PAMM
MAM
Segregated accounts
Affiliate program
Islamic accounts available
Compensation scheme
Negative balance protection
Low spread eur/usd
VPS
Trading via API
Copy trading
Webinar
PayPal
Wire transfer
Neteller
Skrill

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.

 

Exness

Exness has three professional account options: Pro, Zero, and Raw Spread. The Pro is an instant execution account, while and Raw Spread are market execution accounts.

Both Zero and Raw Spread also have a similar "starting from 0 pips" spread policy. However, Zero's spread policy specifically applies to 30 top instruments only during trading sessions. As such, the is the one you should choose when looking for forex raw spread (pun intended).

Here are the detailed conditions of Exness' Raw Spread account:

  • Trading platforms: MT4 & MT5.
  • Commission: Up to $3.50 per side per lot
  • Spreads: raw (from 0 pips)
  • Minimum deposit: $200
  • Maximum leverage: 1:Unlimited
  • Account currencies: more than two dozen, including AUD, CAD, CHF, CNY, EUR, GBP, GHS, HKD, SGD, USD.
  • Instruments: Forex, metals, cryptoсurrencies, energies, stocks, indices
  • Stop Out Level: 0%

Visit Exness official site for further information.

Exness' unlimited leverage offer is applicable on the Raw Spread account but may not be available for UK traders. If you require leverage that exceeds the Financial Conduct Authority's limits, Exness will assign you to non-UK businesses under its brand.

🌐 Website
www.exness.com
Leverage
1:2000
💼 Regulation
💲 Min Deposit
$10
Year Established
2008

PAMM
Trading contests
LAMM
Segregated accounts
VPS
Free education
Islamic account
Copy trading
Compensation scheme
Negative balance protection
Low spread eur/usd
Affiliate program
Trading via API
WebMoney
Skrill
Wire transfer
Neteller

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.

 

Tickmill

Tickmill does not directly advertise raw spread accounts, but it offers a PRO account with similarly unmarked-up real-time market spread. Here are the detailed conditions of Ticmill's PRO account:

  • Trading platform: MT4, MT5, Tickmill Mobile App
  • Commission: Starting from 2 USD (per lot, per side)
  • Spreads: raw (from 0 pips)
  • Minimum deposits: $100
  • Maximum leverage: 1:500 (non-UK accounts)
  • Account currencies: USD, EUR, GBP, ZAR
  • Instruments: Forex, commodities, indices, bonds, stocks CFDs, and cryptocurrencies
  • Stop Out Level: 30%

Visit Tickmill official site for further information.

Tickmill also offers one additional benefit for PRO account holders: stop and limit levels for PRO account users are zero. It means Tickmill PRO traders can place stop and limit orders close to market prices—an advantage that is not available at most CFD brokers.

🌐 Website
tickmill.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2014

Bonuses
PAMM
Trading contests
Segregated accounts
VPS
MAM
Free education
Trading by phone
Negative balance protection
Compensation scheme
VPS
Personal manager
Affiliate program
Copy trading
Webinar
Islamic account
Low spread eur/usd
WebMoney
Skrill
Wire transfer
Neteller
QIWI
FasaPay

Tickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.

For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips.

The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it's no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards. Also, Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.

After registering in Tickmill, traders can choose the most ideal asset among 60 currency pairs that they can trade. If traders aren't sure yet to open a real account, Tickmill recommends learning to trade through a demo account.

There are also educational features such as Webinars, Seminars, Ebooks, and Video Tutorials. All of these facilities can be used by traders to increase knowledge about trading and the financial market as a whole. If traders already have enough knowledge, they have a greater opportunity for earning profit consistently.

For traders registered in real accounts, they can choose between provides three types of accounts, including Pro Account, Classic Account, and VIP Account. Traders can open positions with a minimum order of 0.01 Lots. This applies to all types of accounts.

The company provides recommendations for traders who are still confused when choosing an account. For example, for novice traders, Tickmill encourages clients to choose a Classic Account. It offers optimal conditions with fast order execution while enabling traders to use virtually any trading strategy. Additionally, the account is trade commission-free so traders only pay the bid/ask spread. Other than the 3 main accounts above, Tickmill also provides an Islamic account (swap-free).

The downside is, trading with Tickmill will only enable traders to use MetaTrader 4 as their offered trading platform. Although not much if compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface, accompanied by sophisticated order management tools to help traders control positions quickly and efficiently.

The convenience of trading on Tickmill is enhanced by the existence of One-Click EA integrated on MT4. Traders will get Stop Loss and Take Profit calculations automatically. On top of that, Tickmill provides a VPS hosting for automated traders that can't be bothered with technical problems such as troublesome internet connection.

They offer several third-party research solutions, including Autochartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. Autochartist is available both in Tickmill's web portal and as a platform plugin for MetaTrader 4.

As a Tickmill client, a trader can deposit and withdraw with a variety of payment methods, including Visa, Mastercard, bank transfer, and Skrill. Tickmill accepts deposits and withdrawals in 4 currencies, which include USD, EUR, GBP, and PLN.

Overall, Tickmill is a competitive broker in spreads and provides a safe trading environment with its regulated entities in three different jurisdictions. Although their trading platform is not outstanding, the analytical tools they present to equip traders' needs are considered by retail broker standards.

 

Choosing the True Raw Spread Broker

Raw spread accounts are less suited for novices because they are more susceptible to losses from high market volatility. However, experienced scalpers and day traders favor forex raw spreads because they understand market dynamics, order types, and the impact of extreme market volatility on their trades — and they know how to take advantage of those circumstances.

But how do we know if a certain broker is a true raw spread broker? First and foremost, the company should be properly regulated by a highly reputable agency.

It means raw spread brokers in the UK should have FCA licenses. FCA will ensure the broker does what it promises, i.e., delivers real market prices without any markup.

Lastly, you can make sure the spreads are raw by trading with a small amount of capital on their real accounts. Do not easily trust the compliments rampant on various online forums about any so-called raw spread brokers, because more than half of them are fabricated testimonies.

 

More information about raw spread brokers is available in ECN Forex Brokers with the Best Raw Spreads.