10 Best Forex Brokers With Raw Spreads in Comparison 2025

In this article, we compare the ten best Forex brokers that offer raw spreads. Raw spreads provide direct access to market liquidity with no markup, resulting in tighter spreads. We have thoroughly tested and reviewed these brokers to provide you with accurate and reliable information. Whether you’re a beginner or an experienced trader, this guide will help you choose the best broker for your trading needs.

Here is a quick list of the brokers we will be discussing, each known for their raw spread offerings and unique benefits:

List of the Best Raw Spread Forex Brokers

In this section, we present a detailed comparison of the top ten Forex brokers offering raw spreads. Each broker has been tested and reviewed to provide insights into their unique features, trading conditions, and overall performance. This list will help you identify the broker that best suits your trading style and requirements.

See also our full RAW Spreads Forex Brokers comparison in this helpful video:

1. BlackBull Markets

BlackBull Markets is a standout broker known for its exceptional trading conditions and competitive raw spreads. When we tested BlackBull Markets, we were impressed by their offering of raw spreads starting from 0.0 pips. This makes it our winner for traders looking to minimize trading costs. 

In terms of trading platforms, BlackBull Markets offers MetaTrader 4, MetaTrader 5, and BlackBull Trade, which are highly regarded in the industry for their features and user-friendly interfaces. Additionally, traders can access a range of educational resources and excellent customer support, making it easier for both beginners and experienced traders to navigate the Forex market. With these comprehensive features, BlackBull Markets ensures a seamless trading experience that combines low costs with high efficiency.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	ABN-AMRO, ANZ, Bank of America, Barclays, BNP Paribas, Citibank, CommerzBank, Credit Suisse, Deutsche Bank, HSBC, JPMorgan, Chase, Standard Chartered, RBS, and UBS.
Trading Platforms	MetaTrader 4, MetaTrader 5, MetaTrader Web Trader, cTrader, TradingView, and BlackBull Trade.
Tradable Assets	Forex, commodities, indices, cryptocurrencies, futures, and stock.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Webinars, tutorials, education hub,
Regulation	Financial Services Authority in Seychelles

2. IC Trading

IC Trading is well-known for its raw spreads and trading infrastructure. Our testing revealed that IC Trading offers raw spreads starting from 0.0 pips, making it a cost-effective choice for traders aiming to reduce their expenses. This broker is particularly popular among automated traders due to its ultra-fast execution speeds and low slippage, ensuring precise trade execution.

One of IC Trading’s strengths is its wide range of account types, including Standard and Raw Spread accounts, allowing traders to select the account that best fits their trading needs. Also, IC Trading supports multiple trading platforms, such as MetaTrader 4, MetaTrader 5, and cTrader, offering powerful features and a customizable trading experience. The broker also provides extensive educational resources and strong customer support, making it an appealing option for traders looking for a reliable and efficient trading environment.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	NY4
Trading Platforms	MetaTrader 4, MetaTrader 5, and cTrader.
Tradable Assets	Forex, commodities, indices, stocks, bonds, and cryptocurrency.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Tutorials and blogs
Regulation	Financial Services Commission of Mauritius

3. RoboForex

RoboForex distinguishes itself with its wide range of account options and competitive trading conditions. When we tested RoboForex, we found that their raw spreads starting from 0.0 pips are attractive for those looking to minimize trading costs. The broker’s execution speeds are notably fast, making it suitable for traders who rely on quick transactions.

In addition to competitive spreads, RoboForex offers unique features such as the CopyFX platform, which allows traders to copy the strategies of successful traders. This can be a great advantage for beginners looking to learn from experienced traders. RoboForex also supports automated trading with their proprietary R Trader platform, which includes a built-in strategy builder. This flexibility, combined with its strong educational resources and responsive customer support, makes RoboForex a well-rounded choice for traders seeking both low costs and innovative trading tools.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	TOP FX, Citi FX, CMSFX UK Ltd, SAXO and Sucden Financial.
Trading Platforms	MetaTrader 4, MetaTrader 5, and R Stocks Trader.
Tradable Assets	Stocks, indices, futures, ETFs, commodities, and forex.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	None
Regulation	Financial Services Commission (FSC) of Belize

4. FP Markets

FP Markets is a broker that stands out for its low trading costs and excellent customer service. Our review revealed that FP Markets offers raw spreads starting from 0.0 pips. Additionally, FP Markets has fast execution speeds, which is essential for traders who engage in high-frequency trading or scalping.

FP Markets is also known for its comprehensive range of trading tools and resources. One unique feature is their advanced IRESS trading platform, which provides access to a wide range of markets and detailed market analysis tools. This platform is beneficial for professional traders looking for sophisticated trading options. Moreover, FP Markets offers customer support available 24/5, along with a rich library of educational materials, including webinars and tutorials, which cater to traders at all levels. This combination of low-cost trading, advanced tools, and strong support makes FP Markets a top choice for many traders.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	First Prudential Markets PTY Ltd
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView, and WebTrader.
Tradable Assets	Forex, stocks, indices, commodities, cryptocurrency, and ETFs.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Video tutorials and trading glossary.
Regulation	Australian Securities and Investment Commission

5. Vantage Markets

Vantage Markets offers traders access to institutional-grade liquidity, resulting in raw spreads that start from 0.0 pips. This makes Vantage Markets a prime choice for those looking to reduce their trading costs. Moreover, Vantage Markets provides some of the fastest execution speeds we’ve seen, which is ideal for traders looking to open positions frequently. 

One of the unique features of Vantage Markets is their support for the Pro Trader Tools suite, which includes advanced charting, trading signals, and market insights. This is useful for traders who rely on technical analysis. Vantage Markets also offers a social trading feature, allowing users to follow and copy the trades of experienced traders, which is great for beginners looking to learn from more expert traders. 

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	J.P.Morgan, HSBC, RBS, Citibank, Nomura, and Goldman Sachs.
Trading Platforms	Vantage App, MetaTrader 4, MetaTrader 5, and ProTrader.
Tradable Assets	Forex, stocks, indices, commodities, bonds, and ETFs.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Courses, webinars, and ebooks.
Regulation	Australian Securities and Investments Commission

6. Tickmill

Tickmill is known for its low minimum deposit and highly competitive raw spreads, starting from 0.0 pips. This makes it an excellent choice for traders who are just starting out and those who want to keep their initial investment low. Tickmill offers exceptionally fast execution speeds, which is great for various trading strategies.

Tickmill supports a wide array of trading tools, including advanced risk management features and one-click trading capabilities, which can significantly enhance trading efficiency. Tickmill also offers a comprehensive range of educational resources, such as webinars, seminars, and detailed market analysis, making it a well-rounded broker for beginners and experienced traders seeking low-cost, efficient trading solutions.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	Bank of America, Citadel, KCG, RBS, Citi, Barclays, BNP Paribas, Goldman Sachs, Deutsche Bank, Credit Suisse, Societe Generale, Commerzbank, UBS, and Morgan Stanley.
Trading Platforms	MetaTrader 4, MetaTrader 5, MetaTrader Web Trader, and TickMill App.
Tradable Assets	Forex, stocks, indices, commodities, bonds, and cryptocurrency.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Infographics, tutorials, articles, webinars, and ebooks.
Regulation	CySEC, FSA, FCA, DFSA UAE, Labuan FSA, and FSCA.

7. Pepperstone

Pepperstone stands out for its diverse range of trading platforms and tools, providing raw spreads starting from 0.0 pips. This broker is ideal for traders who value low-cost trading and require a variety of platform options to suit their strategies. Pepperstone offers a unique feature in the form of its Smart Trader Tools, an advanced suite of trading tools designed to enhance trading performance. These include sophisticated alarms, trade terminals, and market manager applications that provide a competitive edge. 

Furthermore, Pepperstone supports social trading through platforms like Myfxbook and DupliTrade, allowing traders to follow and copy the strategies of successful traders. With educational resources and dedicated customer support, Pepperstone is well-equipped to meet the needs of trading looking for raw spreads.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	NY4
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, and TradingView
Tradable Assets	Forex, commodities, indices, cryptocurrency, stocks, and ETFs.
Customer Support	Email and phone support.
Demo Account	Yes
Educational Content	Webinars, educational videos, and trading guides.
Regulation	FCA, ASIC, and DFSA.

8. Moneta Markets

Moneta Markets is recognized for its user-friendly interface and accessibility, making it a great choice for beginners. Offering raw spreads from 0.0 pips, Moneta Markets is designed to keep trading costs low. A standout feature of Moneta Markets is its proprietary trading platform, Pro Trader. This platform is intuitive and easy to navigate, featuring advanced charting tools, integrated market news, and a seamless trading experience. 

Additionally, Moneta Markets offers a unique Trade Guardian feature that helps manage risk by providing automatic notifications of potential trading issues. Coupled with extensive educational content, including video tutorials and market analysis, Moneta Markets provides a supportive environment for traders.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	Equinix and oneZero.
Trading Platforms	MetaTrader 4, MetaTrader 5, Pro Trader, and MT4 WebTrader.
Tradable Assets	Forex, commodities, indices, ETFs, bonds, and stocks.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	Blogs and guides.
Regulation	Cayman Islands Monetary Authority and Financial Sector Conduct Authority.

9. XM

XM has extensive educational resources and a supportive trading environment. With raw spreads starting from 0.0 pips, XM is an excellent choice for traders seeking to minimize their costs. The broker also has impressive execution speeds, ensuring that trades are completed efficiently and accurately.

XM offers a flexible account structure with micro, standard, and zero accounts, catering to various trading needs and preferences. The broker’s loyalty program is another highlight, providing traders with the opportunity to earn bonuses and rewards. XM also offers promotions for trading products like a VPS service, which is ideal for increasing your trades’ speed and eliminating downtime. 

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	LD5
Trading Platforms	MetaTrader 4, MetaTrader 5, and MetaTrader Web Trader.
Tradable Assets	Forex, stocks, indices, and commodities.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	None
Regulation	CySEC, BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM, and FI.

10. FBS

FBS offers a zero spread account option aimed at reducing trading expenses for its users. In our review, the Zero Spread account stood out, providing spreads from 0.0 pips on major currency pairs, which can significantly boost cost efficiency. This account structure allows traders to take advantage of tight pricing without hidden costs, making it a great choice for those focused on optimizing their trading costs. 

Furthermore, FBS supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and their proprietary FBS Trader app. The broker is known for its extensive educational resources and the trading community it has built. With fast execution speeds and 24/7 responsive customer support, FBS ensures a seamless and supportive trading experience.

Feature	Information
Raw Spreads	Yes, from 0.0 pips.
Liquidity Providers	NY4
Trading Platforms	FBS app, MetaTrader 4, and MetaTrader 5.
Tradable Assets	Forex, stocks, indices, and commodities.
Customer Support	Email, live chat, and phone support.
Demo Account	Yes
Educational Content	FBS Academy
Regulation	CySEC

What Means Raw Spreads in Forex Trading?

Raw spreads in forex trading refer to brokers offering direct market access with no markup on the spread. Instead of adding a markup to the spread, brokers charge a separate commission for each trade. This means traders get the exact bid and ask prices quoted by the liquidity providers, leading to tighter spreads, often starting from 0.0 pips. This type of pricing is beneficial for traders who require precision and low-cost trading.

Role of Liquidity Providers for Raw Spreads

Liquidity providers play an important role in offering raw spreads. These are typically large financial institutions, banks, or market makers that supply the bid and ask prices. Brokers with access to multiple liquidity providers can aggregate prices, ensuring traders receive the best available spreads.

Brokers Charge an Additional Commission Instead of Spreads

To compensate for the absence of a markup on spreads, brokers who offer raw spreads charge a commission on each trade. This commission is a fixed amount per lot traded and is clearly specified, providing transparency in trading costs. While this might seem like an additional cost, the overall trading expenses are often lower because traders benefit from the narrower spreads, especially in high-volume trading environments. This model aligns the broker’s interests with the trader’s need for low-cost and precise trading.

Pros / Cons of Raw Spreads

How We Tested Raw Spreads Forex Brokers

To provide you with the most accurate and comprehensive comparison of Forex brokers offering raw spreads on WR Trading, we conducted a thorough testing process. Here’s a detailed look at our methodology:

1. Account Setup: We opened live trading accounts with each broker to ensure we experienced their services as an actual trader would. This included verifying the ease of account opening, the initial deposit process, and the availability of account types.
2. Spreads and Commissions: We recorded the raw spreads offered by each broker across different currency pairs during various market conditions. Additionally, we calculated the total trading cost by factoring in the commissions charged on these trades.
3. Execution Speed: We measured the time taken for trades to be executed, from the moment a trade was placed to its actual execution. This is crucial for traders who rely on fast trade execution.
4. Trading Platforms: We evaluated the functionality and user-friendliness of each broker’s trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and proprietary platforms. This involved assessing the availability of advanced trading tools, charting features, and overall platform stability.
5. Customer Support: We tested the responsiveness and helpfulness of each broker’s customer support team by contacting them with various queries via live chat, email, and phone. Fast and effective customer support is vital for resolving issues quickly and maintaining a smooth trading experience.
6. Educational Resources: We reviewed the educational materials provided by each broker, such as webinars, tutorials, articles, and market analysis. Quality educational resources are essential for both beginner and experienced traders to improve their skills and knowledge.
7. Regulatory Compliance: We checked the regulatory status of each broker to ensure they are compliant with industry standards and provide a secure trading environment. This included verifying their licenses with relevant financial authorities.
8. Additional Features: We explored any additional features offered by the brokers, such as social trading, copy trading, and risk management tools, to see how these could benefit traders.
9. Overall User Experience: Finally, we considered the overall user experience, including the ease of navigating the broker’s website, the clarity of information provided, and the general usability of their trading platforms and services.

Conclusion

Choosing the right trading broker with raw spreads can significantly impact your trading experience and profitability. Our comprehensive review has highlighted the top brokers that offer competitive raw spreads, fast execution speeds, and great trading platforms. Whether you are a beginner or an experienced trader, the brokers listed provide a range of features to suit different trading styles and needs. By focusing on low trading costs and transparent pricing, these brokers ensure that you have the best possible conditions to succeed in the Forex market.

Frequently Asked Questions on Forex Brokers with Raw Spreads