Fusion Markets
no minimum deposit, cTrader
MinimumUSD 0
EUR/USD0.54 pips
VFSCFSA-SCASIC
Best low spread forex brokers, ranked by all-in EUR/USD cost
The best low spread forex brokers are not the ones advertising 0.0 pips, because a raw quote means little until you add the commission. We rank by all-in cost on EUR/USD, from 0.54 pips at Fusion Markets to 0.8 pips at Pepperstone. Multiply any figure by USD 10 to get the cost per standard lot.
Updated . Figures come from broker pages and published pricing data.
Low spread brokers ranked by total cost
Every broker in this shortlist charges under 0.85 pips all-in on EUR/USD in published pricing data, spread plus commission. The order runs from cheapest to most expensive on that single number. Filters above the list reorder it by entry cost or leverage, which matters if your balance is small.
Pricing dates differ slightly between brokers, and some figures come from October 2025 while others come from 2026. Live spreads move all day, so treat these as a guide to each broker's level. A 0.1-pip gap between two brokers is within normal variation, while a 0.3-pip gap is a real difference.
IUX
MinimumUSD 50
EUR/USD0.6 pips
ASICFSCAFSC-MU
Interactive Brokers
no minimum deposit, TradingView
MinimumUSD 0
EUR/USD0.626 pips
CIROSFCJFSA+8
Tickmill
TradingView, copy trading
MinimumUSD 100
EUR/USD0.7 pips
FCACySECEU
IC Markets
cTrader, TradingView
MinimumUSD 200
EUR/USD0.72 pips
CMAASICEU
Vantage
TradingView, copy trading
MinimumUSD 50
EUR/USD0.72 pips
ASICFCAFSCA
Pepperstone
small deposits, cTrader
MinimumUSD 10
EUR/USD0.8 pips
SCBASICFCA+4
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All-in cost, minimum deposit and licences
This table puts cost next to the entry price and the licence list, because a cheap account you cannot afford to open is no help. IC Markets asks for USD 200, while Fusion Markets lists USD 0 and Tickmill USD 100. Licence strength differs widely too, from one main regulator to more than five.
The best low spread forex brokers on cost alone are not always the safest place for a large balance. Fusion Markets has a single Tier-1 licence, for example, and Interactive Brokers has eight. Split larger sums across brokers if cost is your main reason for choosing a less regulated firm.
| Broker | Minimum | EUR/USD cost | Leverage | Licences |
|---|---|---|---|---|
| Fusion Markets | USD 0 | 0.54 pips all-in | VFSC, FSA-SC, ASIC | |
| IUX | USD 50 | 0.6 pips all-in | ASIC, FSCA, FSC-MU | |
| Interactive Brokers | USD 0 | 0.626 pips all-in | CIRO, SFC, JFSA, FCA | |
| Tickmill | USD 100 | 0.7 pips all-in | FCA, CySEC, EU | |
| IC Markets | USD 200 | 0.72 pips all-in | CMA, ASIC, EU | |
| Vantage | USD 50 | 0.72 pips all-in | ASIC, FCA, FSCA | |
| Pepperstone | USD 10 | 0.8 pips all-in | SCB, ASIC, FCA, CySEC |
Our low spread picks
Each pick shows its all-in EUR/USD figure, a reason to choose it, and the catch that goes with the low price. Traders in Kenya should note that IC Markets and Pepperstone hold local licences, a rare combination of low cost and a home regulator.
Fusion Markets
EUR/USD cost0.54 pips all-inFusion Markets' Zero account averaged 0.09 pips plus USD 4.50 per round turn, or 0.54 pips in total. That is about USD 5.40 per lot, the lowest figure we have. It has a USD 0 minimum and no inactivity fee, though it lists only about 250 instruments and holds one Tier-1 licence.
IUX
EUR/USD cost0.6 pips all-inIUX Raw comes to about 0.6 pips all-in with USD 6 commission per lot, and it needs USD 200. IUX lists a South African licence. Its list of about 152 symbols is one of the shortest we track, so it suits a trader who sticks to majors and gold.
Interactive Brokers
EUR/USD cost0.626 pips all-inIBKR Pro costs 0.626 pips all-in on a full lot, with 8 Tier-1 licences behind it. The USD 2 minimum per order ruins that price on small trades, because a 0.01 lot round trip pays USD 4. It suits professional traders, with larger sizes and no need for MetaTrader.
Tickmill
EUR/USD cost0.7 pips all-inTickmill Raw charges USD 6 per round turn and comes to about 0.7 pips all-in, with a USD 100 minimum. No inactivity fee applies, and MT4, MT5 and FX Blue add-ons suit automated traders. Its list runs to 637 symbols, and shares are offered only as CFDs.
IC Markets
EUR/USD cost0.72 pips all-inIC Markets Raw Spread averaged 0.02 pips plus USD 7 per round turn, or 0.72 pips in total, and it holds CMA licence 199 in Kenya. Free VPS hosting starts at 15 lots a month. A USD 200 minimum and an inactivity fee make it a poor first account.
Vantage
EUR/USD cost0.72 pips all-inVantage Raw ECN reaches 0.72 pips all-in from just USD 50, a quarter of IC Markets' entry for the same price. Copy trading sits inside its app, though the statistics hide losing providers. It offers 1,028 symbols, all as derivatives, and no inactivity fee applies.
Pepperstone
EUR/USD cost0.8 pips all-inPepperstone Razor costs about 0.8 pips all-in, or USD 8 per lot, from a USD 10 minimum, with no inactivity fee. It holds CMA licence 128 in Kenya and supports MT4, MT5, cTrader and TradingView. Its proprietary app has thin charts, so serious users stay on those platforms.
How to work out all-in cost
All-in cost is the spread plus the commission, expressed in pips. A USD 7 round-turn commission on one standard lot of EUR/USD equals 0.7 pips, because one pip is worth USD 10 on that lot. Add a 0.1-pip spread, and the total is 0.8 pips, or USD 8.
Compare that with a spread-only account quoting 1.1 pips, which costs USD 11 for the same trade. The commission account saves USD 3 per lot, even though its bill looks more complicated. Run your own figures through the pip calculator, which handles yen pairs and other account currencies correctly.
A trader closing 10 lots a month therefore saves USD 30 on that commission account.
HYCM Raw also comes to about 0.6 pips, and it sits just outside this shortlist only because its data is thinner.
Why a 0.0-pip spread can mislead you
Advertised 0.0-pip spreads are a best-case starting value, and they almost always come with a commission. Exness Raw Spread and HFM Zero both start at 0 pips, for example, and HFM Zero still came to about 1.1 pips all-in in measured data. A headline zero tells you where the quote starts and little about the bill.
Averages matter more than minimums. CMC Markets advertises a 0.8-pip minimum on its standard account, and its measured average is 1.3 pips. Ask two questions of any low offer: what does it average during my trading hours, and what commission goes on top? Then record both on a demo.
When a raw account is worth it
A raw account pays off once you trade regularly. At 50 lots a month, the gap between 0.72 pips and 1.1 pips is USD 190. At 1 lot a month, the same gap is USD 3.80, which will not matter to you, and a simple spread-only account does the job with less to track.
Micro-lot traders see tiny numbers either way. On 0.01 lots, 0.72 pips costs USD 0.07 and 1.1 pips costs USD 0.11. For small accounts, payment fees and exchange rates usually cost far more than spread. Check those first on our currency converter before you chase another 0.1 pips.
When spreads are tightest
Spreads are usually tightest when London and New York overlap, from 13:00 to 17:00 UTC in standard time. That window has the deepest liquidity on EUR/USD. Rollover, around 21:00 to 23:00 UTC, is typically the widest period, and FOREX.com's measured spread excludes those hours for that reason.
Major news widens spreads for a few minutes, and your stop can fill at a worse level during those moments. Our market hours tool shows the sessions in your own time zone. See how these compare on our main forex broker comparison, or check the local picture on our Kenya guide.
Low spread questions
Which forex broker has the lowest spread?
On all-in EUR/USD cost, Fusion Markets' Zero account is lowest on our figures at about 0.54 pips, followed by IUX Raw at about 0.6 pips and Interactive Brokers at 0.626 pips on a full lot.
Are 0.0-pip spreads real?
Yes, as a starting value on raw accounts, though nearly all of them add a commission. A USD 7 round-turn commission equals 0.7 pips on a standard lot of EUR/USD, so the true cost starts around that level.
Is a raw account better than a standard account?
For regular traders, yes. Pepperstone Razor costs USD 8 per lot against USD 11 on its Standard account. Someone placing only a few micro-lot trades each month will barely notice the difference and can stay on Standard.
Do low spreads mean a broker is safe?
No. Price and regulation are separate questions, and Fusion Markets has one Tier-1 licence, while Interactive Brokers has eight. Weigh licence strength against cost, and split a larger balance across brokers if you pick a less regulated firm.
Which low spread broker is licensed in Kenya?
IC Markets (KE) Limited holds CMA licence 199 and Pepperstone Markets Kenya Limited holds 128, with all-in costs of 0.72 and 0.8 pips. FP Markets Limited holds 193, at about 0.9 pips all-in on MetaTrader.
Are low spread accounts good for beginners?
Not always. Raw accounts often need larger deposits, and their commission line adds complexity. A beginner on 0.01 lots pays pennies either way, so education and a simple account matter more during your first few months.