If you’re tired of unpredictable trading costs, fixed spread forex brokers might be the solution you need. Fixed spreads are consistent trading costs that remain stable regardless of market volatility. In this article, we’ll dive into the top five fixed spread forex brokers, showcasing their unique benefits and forex details to help you find the perfect fit for your trading needs.
Here’s a quick overview of the top 5 fixed spread forex brokers we’ll be discussing on WR Trading, highlighting their key benefits:
Broker:
Fixed Spreads:
Advantages:
Account:
Yes, available
- No Minimum Deposit
- Instant Account Setup
- Leverage up to 1:1000
- Low Commissions from 3$/1 Lot
- MT4 and WebTrader
Yes, available
- No Minimum Deposit
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commissions from $4/1 Lot
- MetaTrader 4/5, cTrader, FxPro Edge
- 5x Regulated Broker
Yes, available
- No Slippage, Guaranteed Stop Loss
- Fixed Spreads
- Leverage up to 1:400
- No Commission Fees
- Trading on MT4/5 & easyMarkets Web/Apps
- ASIC & CySEC Regulated
Yes, available
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commission from $4 per 1 Lot
- Trading on MT4/5 Platforms
- Over 40 years of experience
- Regulated by Tier-1 and Tier-2 authorities
Yes, available
- No Minimum Deposit
- Spreads from 0.0 Pips
- Leverage up to 1:400
- Low Commissions from 6$/1 Lot
- MT4/5 and WebTrader
- Regulated by CySEC (Tier-2)
List of the Best 5 Forex Brokers With Fixed Spreads
The fixed spread forex broker you choose can greatly influence your success, especially if you value cost predictability through fixed spreads. Here are detailed reviews of the top five fixed spread forex brokers, each offering unique benefits to suit various trading styles and needs.
IronFX
IronFX is our top choice at WR Trading for offering highly competitive fixed spreads, starting from just 1.6 pips fixed to 1.9. This makes it an appealing option for traders keen on minimizing their trading costs. With a wide range of account types, including Standard, Premium, VIP, and Zero Fixed Spread Accounts, IronFX ensures there’s something for every trader.
One of the standout features of IronFX is its variety of trading platforms. Traders can choose from the ever-popular MetaTrader 4, known for its advanced charting tools and user-friendly interface, or the broker’s proprietary platform, which provides a unique set of tools and features tailored to their clients’ needs. This flexibility allows traders to execute their strategies with ease and confidence.
Moreover, IronFX offers access to over 80 forex pairs, providing opportunities to trade major, minor, and exotic pairs. The broker also provides leverage of up to 1:1000, which can significantly enhance potential returns, though it’s important to manage the associated risks carefully. IronFX’s competitive fixed spreads, robust platform options, and extensive range of forex pairs make it a solid choice for any trader.
| Feature | IronFX |
|---|---|
| Fixed Spreads Available? | Yes |
| Spreads and Commission | Varies based on account:Spread – floating from 1.6 fixed to 1.9Commission – no commission |
| Trading Platforms | MetaTrader 4, IronFX app, and MT4 Webtrader |
| Asset Types | Forex, stocks, indices, commodities, and futures |
| Currency Pairs | Over 80 |
| Tradable Assets | Over 500 |
| Leverage | 1000:1 |
| Customer Support | Email, live chat, and phone support. |
| Demo Account | Yes |
| Educational Content | Webinars, seminars, Trading videos, financial news, podcasts, and more. |
| Regulation | FCA, MiFID, AFM, AMF, CNMV, CNB, CMVM, FI, KNF, CONSOB, HFSA, and BaFin. |
FxPro
FxPro is a name that resonates with reliability in the forex market. Known for its fixed spreads starting from 1.4 pips, FxPro offers traders the stability they need to execute their strategies without worrying about fluctuating costs. This consistency is especially valuable during periods of market volatility.
The broker excels with its range of trading platforms, including MetaTrader 4, MetaTrader 5, FxPro App, FxPro WebTrader, and cTrader. Each platform offers unique features, with advanced indicators, charting tools, and market data.
FxPro provides access to over 70 forex pairs and offers leverage up to 1:30. The combination of low fixed spreads, top-tier platforms, and a wide range of trading instruments positions FxPro as a top choice for traders looking for reliability and variety.
| Feature | FxPro |
|---|---|
| Fixed Spreads Available? | Yes |
| Spreads and Commission | Varies based on account:Spread – fixed spreads from 1.4 pipsCommission – no commission |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, FxPro WebTrader |
| Asset Types | Forex, stocks, indices, futures, commodities, and cryptocurrency. |
| Currency Pairs | Over 70 |
| Tradable Assets | Over 2,100 |
| Leverage | 30:1 |
| Customer Support | Email, live chat, and phone support. |
| Demo Account | Yes |
| Educational Content | Trading basics, fundamental analysis, and trader psychology. |
| Regulation | FCA, CySEC, FSCA, and SCB. |
EasyMarkets
EasyMarkets has made a name for itself with its ultra-low fixed spreads, starting at 0.7 pips, which ensure that traders can manage their costs effectively. This broker is appealing to those who appreciate simplicity combined with powerful trading tools.
One of EasyMarkets’s standout features is its unique dealCancellation option, allowing traders to cancel losing trades within an hour – a safety net that adds an extra layer of confidence. EasyMarkets offers over 90 forex pairs, providing plenty of opportunities for diversification. The leverage offered is up to 1:400, balancing potential profit and risk management.
The broker supports its proprietary web-based platform, MetaTrader 4, MetaTrader 5, and TradingView. The proprietary platform is praised for its simplicity and ease of use, making it ideal for beginners, while MT4 and MT5 offer advanced features for more experienced traders. EasyMarkets’ fixed spreads and innovative features make it a great choice for traders at all levels.
| Feature | EasyMarkets |
|---|---|
| Fixed Spreads Available? | Yes |
| Spreads and Commission | Varies based on account:Spread – fixed spreads from 0.7 pipsCommission – no commission |
| Trading Platforms | easyMarkets Platform, MetaTrader 4, MetaTrader 5, and TradingView |
| Asset Types | Forex, stocks, indices, commodities, and cryptocurrency. |
| Currency Pairs | Over 90 |
| Tradable Assets | Over 275 |
| Leverage | 400:1 |
| Customer Support | Email, live chat, and phone support. |
| Demo Account | Yes |
| Educational Content | Trading course, free ebooks, and a knowledge base. |
| Regulation | CySEC |
HYCM
HYCM is a broker with a rich history in the forex market, renowned for its reliable and stable trading conditions. With fixed spreads starting from 2.5 pips, HYCM provides traders with the certainty needed to plan their trades effectively. This reliability is a key reason why many traders trust HYCM as their broker of choice.
The broker offers over 60 forex pairs, ensuring a wide range of trading opportunities. Leverage is available up to 1:500, allowing traders to amplify their trading positions while managing risk. HYCM supports both MetaTrader 4 and MetaTrader 5 platforms, known for their advanced charting tools, automated trading capabilities, and user-friendly interfaces. Alternatively, traders can use the proprietary HYCM Trader platform.
What sets HYCM apart is its ongoing promotions. Currently, traders can get $200 cash rewards for referring a friend, while the friend receives $180. The broker’s long-standing reputation and focus on providing a stable trading environment with reliable fixed spreads make it a standout in the industry.
| Feature | HYCM |
|---|---|
| Fixed Spreads Available? | Yes |
| Spreads and Commission | Varies based on account:Spread – fixed spreads from 2.5 pipsCommission – no commission |
| Trading Platforms | MetaTrader 4, MetaTrader 5, and HYCM Trader. |
| Asset Types | Forex, stocks, indices, commodities, and cryptocurrency. |
| Currency Pairs | Over 60 |
| Tradable Assets | Over 1,300 |
| Leverage | 500:1 |
| Customer Support | Email, live chat, and phone support. |
| Demo Account | Yes |
| Educational Content | Trading course, free ebooks, and a knowledge base. |
| Regulation | FCA and CIMA |
FXORO
FXORO has created a niche for itself by emphasizing education with its Trading Center, making it an excellent choice for new traders. The broker offers fixed spreads starting from 2 pips, ensuring that traders can predict their trading costs with confidence. This level of cost predictability is helpful for those who are just starting out and managing their costs in forex trading.
With over 60 forex pairs available and leverage up to 1:400, FXORO provides many opportunities for traders to explore different markets. Also, FXORO supports the MetaTrader 4 platform, which comes with multiple technical indicators.
The helpful customer support provided by FXORO further enhances the trading experience. New traders will appreciate the broker’s focus on the trader, ensuring they have the knowledge and tools needed to succeed. FXORO’s combination of reliable fixed spreads and excellent customer service makes it a great choice for those entering the forex market.
| Feature | FXORO |
|---|---|
| Fixed Spreads Available? | Yes |
| Spreads and Commission | Varies based on account:Spread – fixed spreads from 2 pipsCommission – no commission |
| Trading Platforms | MetaTrader 4 |
| Asset Types | Forex, stocks, indices, commodities, ETFs, and cryptocurrency. |
| Currency Pairs | Over 60 |
| Tradable Assets | Over 250 |
| Leverage | 400:1 |
| Customer Support | Email, live chat, and phone support. |
| Demo Account | Yes |
| Educational Content | Basic course, in-depth course, ebooks, and webinars. |
| Regulation | CySEC |
What Are Fixed Spreads in Forex Trading?
Fixed spreads in forex trading refer to the consistent difference between the bid and ask price of a currency pair, regardless of market conditions. Unlike variable spreads that fluctuate with market volatility, fixed spreads remain constant. This predictability makes fixed spreads appealing to traders who want to manage their trading costs with greater certainty.
Fixed spreads are determined by the broker and are usually higher than the lowest possible variable spreads. However, the stability they provide can be advantageous, especially during times of high market volatility. For example, during major economic news releases or other market-moving events, variable spreads can widen significantly, leading to higher trading costs. Fixed spreads protect traders from these sudden increases, ensuring their costs remain the same.
Pros and Cons of Fixed Spreads
Pros
- Predictable Costs
- Stability During Volatility
- Simplified Trading
- Simplified Fee Calculations
- Transparency of Costs
- Better for News Traders
- Consistent Strategy Implementation
- Easier Backtesting
- Beneficial for High-Frequency Trading
- Suitable for Small Accounts
Cons
- Generally Higher Spreads
- Less Competitive in Calm Markets
- Limited Availability
- Potentially Higher Costs
- Less Flexibility
- Fixed Spreads Not Guaranteed by All Brokers
- Possible Higher Slippage
- Not Always Ideal for Long-Term Trading
- Limited Choice of Account Types
- May Not Suit All Trading Styles
How we tested Fixed Spread Brokers
Testing fixed spread brokers involves a detailed and rigorous process to ensure the information provided is accurate, reliable, and helpful for traders. Here’s an in-depth look at how we conducted our evaluations at WR Trading:
Account Creation and Verification
The first step in our testing process was to create accounts with each broker. This allowed us to experience the entire registration process firsthand, from filling out personal details to submitting the required documentation for account verification. We assessed how user-friendly and efficient the process was, noting any difficulties or delays encountered. This step is crucial as it reflects the initial user experience a trader will have with the broker.
Platform Evaluation
Evaluating the trading platforms offered by each broker was a critical part of our testing. We examined the user interface, functionality, availability of trading tools, charting capabilities, and overall ease of use. We tested both desktop and mobile versions to ensure a comprehensive evaluation. Our goal was to determine how intuitive and accessible the platforms were for both novice and experienced traders.
Spreads and Pricing
To verify the fixed spreads, we conducted real-time trading during different market conditions. This allowed us to see if the spreads remained consistent as advertised, especially during high volatility periods. We compared the fixed spreads across various currency pairs to ensure accuracy. By trading in real market conditions, we were able to provide a true representation of the brokers’ pricing structures.
Trade Execution
We placed a series of trades to test the execution speed and reliability. This included both market orders and limit orders to see how quickly and efficiently trades were executed. We monitored for any slippage or re-quotes, which can impact the trading experience.
Fast and reliable trade execution is essential for effective trading, and our tests helped highlight any potential issues.
Customer Support
Evaluating customer support was important to our testing process. We reached out to each broker’s support team through various channels, including live chat, email, and phone. Our goal was to assess the responsiveness, professionalism, and effectiveness of the support provided. Good customer support can significantly enhance a trader’s experience, especially when dealing with issues or inquiries.
Account Types and Leverage
We reviewed the different account types offered by each broker, noting the specific features and benefits of each. We also checked the leverage options available to see how flexible they are for different trading strategies and risk levels. Understanding the variety and suitability of account types is important for traders to find the best match for their trading needs.
Educational Resources
We looked into the educational resources provided by the brokers. This included webinars, tutorials, articles, and other learning materials that can help traders improve their skills and knowledge. Quality educational resources are vital for both beginners and experienced traders looking to enhance their trading strategies. If you’re interested in educational content consider joining WR Trading, which has the top strategies, webinars, and helpful guides for trading.
Regulatory Compliance
Ensuring the broker is regulated by a reputable authority is essential for safety and trust. We verified the regulatory status of each broker and reviewed their compliance with industry standards. Regulatory oversight provides a level of security and assurance that the broker operates within legal and ethical guidelines.
Deposit and Withdrawal Processes
We tested the deposit and withdrawal processes to see how straightforward and efficient they are. This involved making deposits using various payment methods and requesting withdrawals to ensure timely and hassle-free transactions. Efficient and secure financial transactions are crucial for a positive trading experience.
User Feedback and Reviews
Finally, we considered user feedback and reviews from other traders. This provided additional insights into the overall satisfaction and potential issues faced by other users. Understanding the experiences of other traders helped us provide a more rounded evaluation of each broker.
Fixed Spreads vs Floating Spreads
Understanding the difference between fixed spreads and floating spreads is important for traders to make informed decisions about their trading strategies and broker selection. Both types of spreads have their advantages and disadvantages, which can significantly impact trading costs and experiences.
Fixed Spreads
Fixed spreads remain constant regardless of market conditions. This means that the difference between the bid and ask price of a currency pair does not change, providing traders with a predictable cost structure. This predictability is one of the main advantages of fixed spreads, as it allows traders to plan and manage their trading expenses more effectively.
Floating Spreads
Floating, or variable, spreads fluctuate with market conditions. The spread can widen or narrow based on factors such as market volatility, liquidity, and economic news releases. During times of low volatility and high liquidity, floating spreads can be very tight, offering traders lower trading costs compared to fixed spreads.
The main advantage of floating spreads is the potential for lower costs during stable market conditions. Traders can benefit from the tight spreads and reduce their overall trading expenses. This can be beneficial for high-frequency traders or scalpers who execute a large number of trades and are looking to minimize costs.
However, the downside of floating spreads is their unpredictability. During periods of high volatility, such as major economic announcements or geopolitical events, floating spreads can widen dramatically. This can lead to higher trading costs and slippage, where the executed price is different from the intended price. This unpredictability can make it challenging for traders to plan their trades and manage their risks effectively.
Which is Better?
The choice between fixed and floating spreads depends on individual trading preferences, strategies, and market conditions. Fixed spreads offer stability and predictability, making them suitable for traders who want to avoid unexpected cost fluctuations. They are advantageous during volatile market conditions when floating spreads can widen significantly.
On the other hand, floating spreads can provide lower trading costs during stable market conditions. Traders who are comfortable with the potential for spread widening during volatile periods may prefer floating spreads to take advantage of lower costs when the market is calm.
Are Fixed Spread Brokers Market Makers?
Yes, most fixed spread brokers are market makers. This means they create liquidity by buying and selling currency pairs at their own set prices, ensuring the spread between the bid and ask prices remains constant. By doing this, trading brokers provide traders with the stability and predictability of fixed spreads, regardless of market conditions.
Conclusion
In conclusion, after thoroughly reviewing IronFX, FxPro, EasyMarkets, HYCM, and FXORO at Witzel Trading, it is clear that choosing the right fixed spread forex broker can significantly enhance your trading experience. These brokers offer cost predictability and stability, especially during volatile market conditions, by providing fixed spreads that allow traders to know their costs upfront.
Each broker has its unique strengths, making it essential to consider your trading needs and preferences when making a choice. Consider trying a few fixed spread brokers before committing to a single platform.
Short List of the Best Fixed Spread Forex Brokers:
- IronFX – Competitive fixed spreads
- FxPro – Robust trading platforms
- EasyMarkets – User-friendly platforms
- HYCM – Reliable fixed spreads
- FXORO – Great Mobile App
Frequently Asked Questions on Fixed Spread Forex Brokers
What Are Fixed Spread Forex Brokers?
Fixed spread forex brokers offer a constant difference between the bid and ask prices, providing traders with predictable trading costs. This stability helps in planning and managing trades, especially during volatile market conditions. It contrasts with variable spreads, which fluctuate based on market dynamics.
Are Fixed Spreads Higher Than Variable Spreads?
Generally, fixed spreads are higher than the lowest variable spreads available. However, they provide stability and protect against sudden cost increases during volatile market periods. This trade-off can be advantageous depending on your trading style and market conditions.
Do Fixed-Spread Forex Brokers Manipulate Prices?
Reputable fixed spread forex brokers adhere to strict regulatory standards to ensure fair pricing. However, as market makers, they do set their own bid and ask prices. It’s crucial to choose a well-regulated broker to avoid potential conflicts of interest.
Do All Forex Brokers Offer Fixed Spreads?
No, not all forex brokers offer fixed spreads. Many brokers provide only variable spreads, which fluctuate based on market conditions. It’s important to research and choose a broker that specifically offers fixed spread accounts if that’s your preference.
How Can I Find the Best Fixed Spread Forex Broker?
To find the best fixed spread forex broker, consider factors such as regulatory status, reputation, trading platform, customer support, and the specific terms of their fixed spread offerings. Reading reviews and comparing different brokers can also help. Make sure the broker aligns with your trading needs and goals.
