Low Spread Forex Brokers

There are several reasons why many traders choose trading accounts and brokers that offer low spreads for their trading:

1. Cost Reduction

The most obvious benefit is lower costs. A lower spread is beneficial for traders, especially if you are a high volume trader or a day trader (scalper). The higher your trading volume is, the more your spreads will cost. That is why a lower spread is preferable.

In addition, it is always better to focus on earning profits without having to worry about high transaction costs.

2. Scalper Friendly

Scalpers usually have limited resources. They focus on small profits from many trading positions, so they open multiple positions in a day and even hundreds in a month.

Imagine, if you are a scalper and you usually do 200 trades per month on the EUR/USD using a Standard Lot. Just 1 pip equals 10 USD per pip, and that means 2,000 USD per month. That is a lot, right?

As your capital is limited, low-spread Forex brokers become the perfect choice to avoid high transaction costs. Plus, it leaves room for more profits.

3. Easier Calculation

If the spread is low, it is easier for you to calculate the potential profits and losses for each trade. Therefore, you can adopt a better trading strategy.

However, if the spread is already wide, you need to take various factors into account to make sure that your trading is profitable. Otherwise, you will suffer bigger losses than you can afford.

Pay attention to the trading conditions and services offered by the brokers as well. It may be better to pay a slightly higher spread to enjoy a better trading experience, than pay less at the expense of important aspects, such as trading platform, execution speed, and customer service.

Which Trading Accounts Come with Low Spreads?

Forex Brokers usually offer different types of accounts, such as Micro, Standard, ECN, and Zero Spread with different trading conditions.

The lowest spread is usually offered For ECN and Zero Spread accounts. However, a lower spread generally means a higher deposit. To open these accounts, you have to deposit a much higher amount than other accounts with a wider spread, such as Micro and Standard.

That is why you should consider your trading volume, style, and risk appetite before choosing an account. Do not just look at the spreads! You should also check the minimum deposit and commission.

Forex Brokers That Offer the Lowest Spreads:

Choosing from a large number of brokers and their offered accounts can be a little daunting and confusing for inexperienced traders. To help you, we have compiled a list of trusted Forex brokers that offer the lowest spreads.
XM
xm Ghana
XM has been serving international clients by providing four different accounts, namely Micro, Standard, XM Ultra Low, and Shares.

The XM Ultra Low is the account with the lowest spreads, starting from 0.6 pips. Traders who open this account can enjoy leverage up to 1:1000, depending on the trading volume, with just a $5 deposit and zero commission. The minimum volumes for Micro Ultra Low and Standard Ultra Low are 0.1 lots and 0.01 lots, respectively.

The spreads for both XM Micro Ultra Low and Standard Ultra Low accounts are as follows:
EUR/USD - 0.00007
GBP/USD - 0.00007
EUR/JPY - 0.012
GBP/JPY - 0.014
AUD/USD - 0.00009
USD/CAD - 0.00013
USD/JPY - 0.007
AUD/CHF - 0.0001
Regulations: ASIC, IFSC, CySEC, DFSA
Country: Cyprus
Founded: 2009
Ghanan Support Desk: Yes
Exness
Exness Ghana
Another reputable broker that new traders can try is Exness which offers Standard, Standard Cent, Raw Spread, Zero, and Pro accounts.

Both the Raw Spread and Zero accounts come with the lowest spreads, starting from 0 pip. You need to deposit a minimum of 200 USD in these accounts to make use of leverage up to 1: unlimited and a minimum volume of 0.01 lots. The only difference between the two accounts is the amount of commission (up to 3.5 USD per side per lot for the Raw Spread and from 0.2 USD per side per lot for the Zero account).

If you are interested in opening one of these accounts, you can check the average spreads for both in the table below.
Raw Spread:

EUR/USD - 0
GBP/USD - 0
EUR/JPY - 0
GBP/JPY - 0
AUD/USD - 0
USD/CAD - 0
USD/JPY - 0
AUD/CHF - 0

Zero Account:

EUR/USD - 0.1
GBP/USD - 0.3
EUR/JPY - 0.5
GBP/JPY - 1
AUD/USD - 0.1
USD/CAD - 0.2
USD/JPY - 0.1
AUD/CHF - 0.9
Regulated by CySEC, FCA, FSA
Country: Cyprus
Founded: 2008
Ghanan Support Desk: Yes
Tickmill
tickmill Ghana
To help new traders choose the best account for their trading, TickMill offers 3 types of accounts, namely Pro, Classic, and VIP.

Two TickMill accounts come with the lowest spreads.

• The Pro account comes with spreads starting from 0 pip. The minimum deposit is 100 USD, with a minimum volume of 0.01 lots and leverage up to 1:500. A $2 commission is required per side per 100,000 traded.
• The VIP account comes with variable spreads from 0 pip, maximum leverage of 1:500, and a minimum trading volume of 0.01 lots. However, this account requires a minimum balance of 50,000 USD. Traders are to pay $1 commission per side per 100,000 traded.

The following table shows the minimum and average spreads for both Pro and VIP accounts.
EUR/USD - 0.1
GBP/USD - 0.3
EUR/JPY - 0.5
GBP/JPY - 1
AUD/USD - 0.1
USD/CAD - 0.2
USD/JPY - 0.1
AUD/CHF - 0.9
Regulations: CySEC, FCA, FSCA, FSA
Country: Cyprus
Founded: 2014
Ghanan Support Desk: Yes
RoboForex
RoboForex Ghana
With more than a decade of experience, RoboForex has been offering superior services in five trading accounts, namely Prime, ECN, R StocksTrader, ProCent, and Pro.

If you are looking for the lowest spreads, you can try the Prime or ECN accounts. The Prime accounts can be accessed via the MT4, MT5, mobile trading, and WebTrader platforms, and the ECN account via the MT4, MT5, mobile trading, WebTrader, and cTrader platforms. To open either account, you need a minimum deposit of 10 USD/EUR. Then, you can plan your trading strategy with floating spreads from 0 pip, leverage as high as 1:500, and a minimum trading volume of 0.01 lots.

The spreads for both accounts can be found in the table below.
EUR/USD - 0.1
GBP/USD - 0.7
EUR/JPY - 0.7
GBP/JPY - 1.3
AUD/USD - 0.5
USD/CAD - 0.7
USD/JPY - 0.4
AUD/CHF - 1.2
Regulations: IFSC, CySEC
Country: Cyprus
Founded: 2009
Ghanan Support Desk: Yes
FBS
fbs Ghana
This established Forex broker offers six types of accounts, namely Standard, Cent, Micro, Zero Spread, ECN, and Crypto.

Traders who want to trade with the lowest spread can opt for the ECN account. The spread for this account is floating from -1 pip, with a minimum deposit of 1,000 USD, a $6 commission, and leverage up to 1:500. You can trade starting from 0.1 lots on the MT4 trading platform.

The spreads for different currency pairs on the ECN account are as follows:
EUR/USD - 0.0
GBP/USD - 0.5
EUR/JPY - 0.5
GBP/JPY - 1.1
AUD/USD - 0.3
USD/CAD - 0.6
USD/JPY - 0.3
AUD/CHF - 1.2
Regulations: CySEC, ASIC, IFSC
Country: Cyprus
Founded: 2009
Ghanan Support Desk: Yes
Forex Brokers in other categories:
Forex Brokers in Ghana

High Risk Warning: Trading in Forex and CFD markets carry a high level of risk and may not bbe suitable for all type of investors; Before deciding to trade, please make sure that you understand the risks fully.

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