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Lowest Spread Forex Brokers For Major Pairs

HOME / LOW SPREAD MAJOR PAIR

On any trading platform, there are two prices for each financial instrument – the Bid and the Ask. When buying or going long, traders use the Ask Price, while the Bid Price is used for selling or going short. The difference between the Bid and Ask Price represents the spread. It is an income for the broker (fee), which is also a cost for the trader. Therefore, a lower spread would be much better for traders.

For most traders, Major Currency Pairs like EUR/USD, GBP/USD, USD/JPY, etc. are the best choice due to their liquidities. These pairs are known to be the most active currency pairs on the forex market, with more than 100 pips daily price movement. If you wish to trade with the lowest spread forex brokers for Major Pairs, the list below could be a great help for you.


May 20 2024

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Score Broker EUR/USD GBP/USD USD/JPY USD/CHF USD/CAD NZD/USD
706 FxPro
FxPro
0 0 0 0 0 0
773 JustMarkets
JustMarkets
0 0.6 1.2 0.5 0.1 0.9
7 Pepperstone
Pepperstone
0.2 0.3 0.8 0.8 0.8 0.5
120 ThinkMarkets
ThinkMarkets
0.1 1.6 0 1.3 1.7 0.9
55 Orbex
Orbex
0.5 0.7 1 1.1 1.4 1.1
144 RoboForex
RoboForex
0.1 2.4 1 2.2 0.8 0.3
461 BDSwiss
BDSwiss
0.6 0.5 0.4 0.6 3.8 1
145 IC Markets
IC Markets
0.1 0.5 7 0.4 0.5 1.3
64 Exness
Exness
0.6 0.8 5.2 0.9 1.3 1.3
613 GOMarkets
GOMarkets
0 0.6 8.3 0.9 0.6 1.6
537 FirewoodFX
FirewoodFX
1 2 1 3 3 3
10 Tickmill
Tickmill
0.3 1.5 7.9 1.1 1.2 1.1
705 Vantage Markets
Vantage Markets
0 0.5 12.1 1.6 1.2 0.8
684 AvaTrade
AvaTrade
0.9 1.3 14.3 1.3 1.8 1.4
703 Octa
Octa
4.8 1.4 5 4 4.5 1.8
264 MTrading
MTrading
2 2.7 2 6.2 7.4 2.1
744 LiteFinance
LiteFinance
6.6 2.5 8.4 0.4 2.5 4.2
162 XM
XM
0.7 2.8 13.2 5.2 2.8 1.5
638 Blueberry Markets
Blueberry Markets
1.2 2.3 12.9 5.5 4.1 0.9
249 FXOpen
FXOpen
4.5 2.2 10.4 6.2 3.3 1
87 Dukascopy
Dukascopy
3.8 3.2 11.7 5.4 2.8 2.7
52 FBS
FBS
2.2 4.2 9.5 4.8 4.8 4.9
70 HF Markets
HF Markets
5.5 2.8 9.3 0.7 10 3.9
660 Fxview
Fxview
4 7.2 6.9 5.5 8.6 1.4
717 FXGT
FXGT
7.2 4.3 14.8 7.2 5.5 5.2
254 InstaForex
InstaForex
5 9 7 10 9 9

Additional FAQ

The advantages of trading with a fixed spread include:

  • Stable spread cost, which allows for more reliable money management strategies.
  • Easier calculation of potential profit and loss for each trade, providing a clear estimate of the spread cost.
  • Protection from extreme spread widening during periods of high market volatility.
  • Enhanced compatibility with trading Expert Advisors (EAs), and automated trading systems.
  • Suitable for beginners who may not be comfortable dealing with fluctuating spreads, aiding in the learning of money management techniques.

Continue Reading at ECN vs Fixed Spread, Which Type is Better?

Believe it or not, you can ask the broker directly. Some ECN/STP brokers openly state that they mark up spreads because they feel they have the right to do so.

You can also check the authenticity of spreads from an ECN/STP broker that (perhaps) covers up its spread mark-up by directly comparing the broker's spread with the actual market spread.

Continue Reading at Forex Broker Cheats and How to Anticipate Them

Raw spread accounts are known for having extremely tight spreads. In liquid currency pairs, spreads can be as low as 0.2, 0.3, or even 0.0 pips, which means traders can enter the market at prices very close to the market rates.

Continue Reading at Raw Spread Pros and Cons in Forex Trading

The following is an example of the difference in spread between major and cross pairs that exist at the IC Markets broker:

Major Pair

Major Pair

Cross Pair

Minor Pair

Please see the example below to compare the profits you get when trading on major and cross-pairs.

Vicky opened 10 positions on EUR/USD with a spread of 0.6 pips, resulting in a total cost of 6 pips to cover the spread. Each time she opened a position, she targeted a profit of 10 pips. Therefore, the total profit obtained after the spread was 94 pips (100 - 6 pips).

On the other hand, Timmy opened 10 positions on AUD/CAD with a spread of 1.68 pips, resulting in a total cost of 16.8 pips to cover the spread. Similar to Vicky, he targeted a profit of 10 pips per position. Therefore, the total profit minus spread that Timmy got would be 83.2 pips (100 - 16.8 pips).

As you can see, even though they had the same number of trades and profit targets, the choice of currency pair can influence the eventual gain because of the spread differences. Vicky, who traded on a major pair, gained more pips. On the other hand, Timmy earned smaller profits due to higher spreads charged in AUD/CAD which is a cross pair.

Continue Reading at How Does Spread Affect Profit in Forex?