FX spreads vary by broker, and the lower the spread, the lower the trading costs.
For traders who make a large number of trades in particular, spreads can significantly affect their profits and losses, so it’s important to choose a broker that allows you to trade with the lowest possible spreads.
So, in this article, we’ve thoroughly compared five popular brokers known for their low spreads: Exness, HFM, TitanFX, Axi, and ThreeTrader.
If you read this page all the way through, you’ll be able to find an FX broker that offers low spreads.
FX spreads are trading costs
In FX trading, the spread represents a trading cost for traders.
Specifically, the difference between the buy price and the sell price is called the spread.
For example, if the difference between the buy price and the sell price is 1 pip and 2 pips, respectively, the 1-pip spread is lower, so the trader's transaction costs are kept down.
Since the spread is charged as a transaction cost on every trade, brokers with lower spreads allow you to keep transaction costs down, which ultimately increases your profits.
Short-term traders—especially those who engage in scalping or day trading—pay spreads frequently, so be sure to consider spreads carefully when choosing an FX broker.
Key Points for Finding an FX Broker with Low Spreads
Here are five key points to consider when looking for a low-spread FX broker.
- Explore the Features of STP and ECN Accounts
- Should we use a variable spread or a fixed spread?
- Is the displayed spread the minimum spread or the average spread?
- Keep an eye on how spreads widen during certain times of the day and when economic indicators are released
- Whether Scalping Trades Are Supported
Features of STP and ECN Accounts
FX brokers offer two types of accounts: STP accounts and ECN accounts.
| STP Account | A trading method in which customer orders are matched with the quotes provided by liquidity providers |
| ECN Account | A trading system in which customer orders are routed directly to the interbank market, where orders from different traders are matched. |
STP accounts are standard accounts, and since trading costs are limited to the spread, they are well-suited for beginners in FX trading.
On the other hand, with ECN accounts, while spreads are lower, you must pay a separate trading commission, so the total trading cost is the sum of the spread and the trading commission.
While ECN accounts generally have lower total costs, many brokers exclude them from bonus eligibility, so you should consider your trading style and financial resources when making a decision.
Should we use a variable spread or a fixed spread?
There are two types of spreads used by FX brokers: variable spreads and fixed spreads.
With variable spreads, the spread fluctuates constantly, so you need to check the spread for each trade; with fixed spreads, however, trades are executed at the quoted spread every time.
Therefore, while fixed spreads offer the advantage of more stable trading costs, the majority of FX brokers use variable spreads.
Is the displayed spread the minimum spread or the average spread?
FX brokers publish their spreads on their official websites, but the spreads shown may be either the minimum spread or the average spread.
- Minimum Spread: Offers the lowest spread during trading hours.
- Average Spread: We display the average spread calculated over the entire trading period.
When comparing spreads among FX brokers, be sure to compare the minimum spread with the minimum spread and the average spread with the average spread.
Keep an eye on how spreads widen during certain times of the day and when economic indicators are released
When it comes to FX brokers' spreads, pay close attention to how they widen during certain times of the day and when economic indicators are released.
FX brokers that use a variable spread system may offer low or high spreads depending on the time of day or market conditions.
| Situations That Tend to Lead to Wide Spreads | Times when market liquidity is low, such as early morning and late at night; the few minutes before and after the release of economic indicators |
| Conditions That Tend to Lead to Low Spreads | Times when liquidity is stable in the Tokyo, London, and New York markets |
Be careful, as spreads can widen significantly not only when buying or selling but also while holding a position, which may result in a stop-out.
Whether Scalping Trades Are Supported
Whether scalping is allowed depends on the FX broker.
Scalping is a trading strategy that involves repeatedly buying and selling within a price range of a few pips to several dozen pips over an extremely short period of time.
Some FX brokers may restrict or prohibit this due to server load or other reasons.
- Scalping is completely prohibited.
- Prohibition of scalping limited to times when economic indicators are released
- Prohibition of Scalping via System Trading, Such as Automated Trading (EA)
Traders who primarily engage in scalping should check not only the spreads but also the terms of service and trading restrictions in advance.
Comparison of Low-Spread FX Brokers
From here, we’ll compare six popular brokers known for their low spreads, broken down by account type.
- exness (Exness)
- HFM (HFM)
- TitanFX
- Axi
- ThreeTrader
If you're looking for an FX broker that offers lower spreads on STP or ECN accounts, be sure to check this out.
Comparison of Spreads for Standard Accounts (STP Accounts) by Broker
We compared the spreads for Standard Accounts (STP Accounts) by broker.
We have carefully selected popular currency pairs—primarily major currencies—and presented the results of our survey on average, maximum, and minimum spreads in the table below.
Exness STP Account Spread Table
Exness offers two types of STP accounts: the Standard account and the Pro account.
・Spread Table for Standard Accounts
| Average Spread | Best Spread | Lowest Spread | |
| USDJPYm | 1.7 pips | 35.0 pips | 0.9 pips |
| EURJPYm | 3.7 pips | 31.2 pips | 1.9 pips |
| GBPJPYm | 4.2 pips | 30.4 pips | 2.2 pips |
| AUDJPYm | 2.3 pips | 16.8 pips | 1.8 pips |
| NZDJPYm | 5.0 pips | 25.9 pips | 4.3 pips |
| EURUSDm | 1.1 pips | 10.7 pips | 0.8 pips |
| GBPUSDm | 1.2 pips | 11.1 pips | 0.8 pips |
| AUD/USDm | 1.1 pips | 12.0 pips | 0.9 pips |
| AUDNZDm | 2.5 pips | 24.9 pips | 2.0 pips |
| XAUUSDm | 1.6 pips | 1.6 pips | 1.6 pips |
・Spread List for Pro Accounts
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 1.2 pips | 25.7 pips | 0.6 pips |
| EURJPY | 2.6 pips | 21.8 pips | 1.3 pips |
| GBPJPY | 3.0 pips | 21.3 pips | 1.5 pips |
| AUDJPY | 1.6 pips | 11.8 pips | 1.3 pips |
| NZDJPY | 3.5 pips | 18.1 pips | 3.0 pips |
| EUR/USD | 0.8 pips | 7.5 pips | 0.5 pips |
| GBP/USD | 0.9 pips | 7.7 pips | 0.5 pips |
| AUD/USD | 0.8 pips | 8.4 pips | 0.6 pips |
| AUD/NZD | 1.8 pips | 17.4 pips | 1.4 pips |
| XAUUSD | 1.1 pips | 1.1 pips | 1.1 pips |
HFM STP Account Spread Table
HFM offers two types of STP accounts: the Premium Account and the Pro Account.
・Premium Account Spread Table
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 3.0 pips | 6.5 pips | 2.3 pips |
| EURJPY | 3.4 pips | 9.5 pips | 2.5 pips |
| GBPJPY | 4.7 pips | 9.5 pips | 3.1 pips |
| AUDJPY | 4.3 pips | 16.3 pips | 3.0 pips |
| NZDJPY | 4.7 pips | 32.1 pips | 2.8 pips |
| EUR/USD | 2.2 pips | 11.0 pips | 1.7 pips |
| GBP/USD | 2.7 pips | 11.3 pips | 2.0 pips |
| AUD/USD | 2.3 pips | 12.0 pips | 1.7 pips |
| AUD/NZD | 5.0 pips | 32.6 pips | 3.1 pips |
| XAUUSD | 3.2 pips | 4.6 pips | 2.8 pips |
・Spread List for Pro Accounts
| Average Spread | Best Spread | Lowest Spread | |
| USDJPYr | 1.6 pips | 6.5 pips | 1.2 pips |
| EURJPYr | 1.6 pips | 6.5 pips | 1.1 pips |
| GBPJPYr | 1.9 pips | 6.5 pips | 1.5 pips |
| AUDJPYr | 3.0 pips | 14.3 pips | 1.7 pips |
| NZDJPYr | 3.1 pips | 28.6 pips | 1.7 pips |
| EURUSDr | 1.0 pips | 9.0 pips | 0.6 pips |
| GBPUSDr | 1.2 pips | 9.3 pips | 0.6 pips |
| AUDUSDr | 0.9 pips | 10.0 pips | 0.6 pips |
| AUDNZDr | 3.5 pips | 28.6 pips | 1.7 pips |
| XAUUSDr | 1.8 pips | 2.5 pips | 1.4 pips |
TitanFX STP Account Spread Table
TitanFX offers only Standard STP accounts.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 1.6 pips | 8.4 pips | 1.0 pips |
| EURJPY | 1.8 pips | 26.0 pips | 1.1 pips |
| GBPJPY | 3.0 pips | 31.0 pips | 1.7 pips |
| AUDJPY | 2.1 pips | 21.1 pips | 1.2 pips |
| NZDJPY | 3.6 pips | 31.0 pips | 1.4 pips |
| EUR/USD | 1.5 pips | 14.1 pips | 1.0 pips |
| GBP/USD | 1.5 pips | 17.1 pips | 1.1 pips |
| AUD/USD | 1.3 pips | 21.0 pips | 1.0 pips |
| AUD/NZD | 2.9 pips | 31.0 pips | 1.3 pips |
| XAUUSD | 1.6 pips | 18.6 pips | 0.9 pips |
Axi STP Account Spread Table
Axi offers only Standard STP accounts.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 1.1 pips | 6.9 pips | 1.0 pips |
| EURJPY | 1.9 pips | 21.0 pips | 1.2 pips |
| GBPJPY | 2.5 pips | 25.6 pips | 1.9 pips |
| AUDJPY | 2.0 pips | 30.0 pips | 1.1 pips |
| NZDJPY | 2.2 pips | 30.0 pips | 1.3 pips |
| EUR/USD | 1.4 pips | 9.9 pips | 1.3 pips |
| GBP/USD | 1.6 pips | 16.0 pips | 1.5 pips |
| AUD/USD | 1.3 pips | 8.4 pips | 1.1 pips |
| AUD/NZD | 2.2 pips | 30.0 pips | 1.2 pips |
| XAUUSD | 1.7 pips | 5.8 pips | 1.4 pips |
ThreeTrader (SuriTore) STP Account Spread Table
ThreeTrader (SuriTore) offers only Pure Spread accounts for its STP accounts.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 1.0 pips | 8.0 pips | 0.5 pips |
| EURJPY | 1.5 pips | 25.5 pips | 0.5 pips |
| GBPJPY | 2.3 pips | 36.8 pips | 0.5 pips |
| AUDJPY | 1.3 pips | 25.8 pips | 0.5 pips |
| NZDJPY | 1.9 pips | 30.5 pips | 0.5 pips |
| EUR/USD | 0.7 pips | 13.5 pips | 0.5 pips |
| GBP/USD | 1.0 pips | 22.1 pips | 0.5 pips |
| AUD/USD | 0.8 pips | 19.8 pips | 0.5 pips |
| AUD/NZD | 1.9 pips | 47.0 pips | 0.5 pips |
| XAUUSD | 1.3 pips | 6.3 pips | 1.2 pips |
Comparison of Spreads for Low-Spread Accounts (ECN Accounts) by Broker
We compared the spreads of low-spread accounts (ECN accounts) by broker.
We have carefully selected popular currency pairs—primarily major currencies—and presented the results of our survey on average, maximum, and minimum spreads in the table below.
Exness ECN Account Spread Table
Exness offers two types of ECN accounts: low-spread accounts and zero-spread accounts.
・List of Spreads for Low-Spread Accounts
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 0.3 pips | 17.5 pips | 0.0 pips |
| EURJPY | 1.1 pips | 14.8 pips | 0.2 pips |
| GBPJPY | 1.4 pips | 14.5 pips | 0.3 pips |
| AUDJPY | 0.4 pips | 7.7 pips | 0.1 pips |
| NZDJPY | 1.7 pips | 12.2 pips | 1.3 pips |
| EUR/USD | 0.1 pips | 4.9 pips | 0.0 pips |
| GBP/USD | 0.1 pips | 5.1 pips | 0.0 pips |
| AUD/USD | 0.1 pips | 5.4 pips | 0.0 pips |
| AUD/NZD | 0.4 pips | 11.6 pips | 0.1 pips |
| XAUUSD | 0.4 pips | 0.4 pips | 0.4 pips |
In addition to the above, a transaction fee of $7 per lot will be charged.
・Zero Account Spread Table
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 0.3 pips | 17.5 pips | 0.0 pips |
| EURJPY | 0.8 pips | 14.4 pips | 0.0 pips |
| GBPJPY | 0.8 pips | 13.3 pips | 0.0 pips |
| AUDJPY | 0.2 pips | 7.4 pips | 0.0 pips |
| NZDJPY | 0.5 pips | 11.0 pips | 0.1 pips |
| EUR/USD | 0.1 pips | 4.9 pips | 0.0 pips |
| GBP/USD | 0.1 pips | 4.9 pips | 0.0 pips |
| AUD/USD | 0.1 pips | 5.4 pips | 0.0 pips |
| AUD/NZD | 0.2 pips | 11.4 pips | 0.0 pips |
| XAUUSD | 0.0 pips | 0.0 pips | 0.0 pips |
In addition to the above, trading fees vary by security.
- USDJPY, EURUSD = $7
- AUDNZD=$8
- AUDJPY, GBPUSD = $9
- AUD/USD, EUR/JPY = $10
- GBPJPY, NZDJPY = $15
- XAUUSD=$16
HFM ECN Account Spread Table
HFM offers only Zero accounts for its ECN accounts.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPYb | 0.9 pips | 6.6 pips | 0.5 pips |
| EURJPYb | 1.0 pips | 6.6 pips | 0.5 pips |
| GBPJPYb | 1.1 pips | 6.6 pips | 0.7 pips |
| AUDJPYb | 2.4 pips | 14.3 pips | 1.1 pips |
| NZDJPYb | 2.5 pips | 28.6 pips | 1.1 pips |
| EURUSDb | 0.3 pips | 9.1 pips | 0.1 pips |
| GBPUSDb | 0.6 pips | 9.4 pips | 0.2 pips |
| AUDUSDb | 0.3 pips | 10.1 pips | 0.1 pips |
| AUDNZDb | 2.9 pips | 28.6 pips | 1.0 pips |
| XAUUSDb | 1.7 pips | 2.5 pips | 1.3 pips |
In addition to the above, transaction fees apply on a per-security basis.
- AUD/USD, EUR/USD, EUR/JPY, GBP/JPY, GBP/USD, USD/CAD, USD/CHF, USD/JPY, XAU/USD = $6
- All other currency pairs are $8 each.
TitanFX ECN Account Spread Table
TitanFX offers only the Blade account as its ECN account.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY | 0.6 pips | 7.4 pips | 0.0 pips |
| EURJPY | 0.8 pips | 25.0 pips | 0.1 pips |
| GBPJPY | 2.0 pips | 30.0 pips | 0.7 pips |
| AUDJPY | 1.1 pips | 20.1 pips | 0.2 pips |
| NZDJPY | 2.6 pips | 30.0 pips | 0.4 pips |
| EUR/USD | 0.5 pips | 13.1 pips | 0.0 pips |
| GBP/USD | 0.5 pips | 16.1 pips | 0.1 pips |
| AUD/USD | 0.3 pips | 20.0 pips | 0.0 pips |
| AUD/NZD | 1.9 pips | 30.0 pips | 0.3 pips |
| XAUUSD | 1.5 pips | 18.5 pips | 0.8 pips |
In addition to the above, a transaction fee of $7 per lot will be charged.
The trading commission for energy, soft commodities, precious metals, and stock indices is $0.6 per lot.
Axi ECN Account Spread Table
Axi offers only Premium ECN accounts.
| USDJPY.p | 0.4 pips | 6.3 pips | 0.0 pips |
| EURJPY.p | 0.9 pips | 20.2 pips | 0.2 pips |
| GBPJPY.p | 1.4 pips | 25.0 pips | 0.0 pips |
| AUDJPY.p | 1.1 pips | 29.0 pips | 0.0 pips |
| NZDJPY.p | 1.1 pips | 29.0 pips | 0.0 pips |
| EURUSD.p | 0.2 pips | 9.3 pips | 0.0 pips |
| GBPUSD.p | 0.6 pips | 15.4 pips | 0.0 pips |
| AUDUSD.p | 0.3 pips | 7.5 pips | 0.0 pips |
| AUDNZD.p | 1.2 pips | 29.0 pips | 0.2 pips |
| XAUUSD.p | 0.9 pips | 3.3 pips | 0.4 pips |
In addition to the above, a trading fee of $7 per lot (Premium Account) or $3.50 per lot (Elite Account) will be charged.
ThreeTrader (SuriTore) ECN Account Spread Table
ThreeTrader (SuriTore) offers only Raw Zero ECN accounts.
| Average Spread | Best Spread | Lowest Spread | |
| USDJPY.raw | 0.5 pips | 7.5 pips | 0.0 pips |
| EURJPY.raw | 1.0 pips | 25.0 pips | 0.0 pips |
| GBPJPY.raw | 1.8 pips | 36.3 pips | 0.0 pips |
| AUDJPY.raw | 0.8 pips | 25.3 pips | 0.0 pips |
| NZDJPY.raw | 1.4 pips | 30.0 pips | 0.0 pips |
| EURUSD.raw | 0.2 pips | 13.0 pips | 0.0 pips |
| GBPUSD.raw | 0.5 pips | 21.6 pips | 0.0 pips |
| AUDUSD.raw | 0.3 pips | 19.3 pips | 0.0 pips |
| AUDNZD.raw | 1.4 pips | 46.5 pips | 0.0 pips |
| XAUUSD.raw | 0.8 pips | 5.8 pips | 0.7 pips |
In addition to the above, a trading fee of $4 per lot will be charged.
Top 3 Brokers with Low Spreads by Stock
Here are the top 3 brokers with low spreads for each stock.
Here, we use the average spread consistently.
|
1st Place |
2nd place |
3rd place |
|
|
USDJPY |
ThreeTrader (Raw Zero Account) 0.9 pips |
Exness (Low-Spread Account) 1.0 pips |
Exness (Zero Account) 1.0 pips |
|
EURJPY |
ThreeTrader (Raw Zero Account) 1.4 pips |
TitanFX (Blade Account) 1.5 pips |
Axi (Premium Account) 1.6 pips |
|
GBPJPY |
HFM (Zero Account) 1.7 pips |
Exness (Low-Spread Account) 2.1 pips |
Axi (Premium Account) 2.1 pips |
|
AUDJPY |
Exness (Low-Spread Account) 1.1 pips |
Exness (Zero Account) 1.2 pips |
ThreeTrader (Raw Zero Account) 1.2 pips |
|
NZDJPY |
ThreeTrader (Raw Zero Account) 1.8 pips |
Axi (Premium Account) 1.8 pips |
Exness (Zero Account) 2.0 pips |
|
EUR/USD |
ThreeTrader (Raw Zero Account) 0.6 pips |
Exness (Low-Spread Account) 0.8 pips |
Exness (Zero Account) 0.8 pips |
|
GBP/USD |
ThreeTrader (Raw Zero Account) 0.9 pips |
Exness (Low-Spread Account) 0.8 pips |
Exness (Zero Account) 0.8 pips |
|
AUD/USD |
ThreeTrader (Raw Zero Account) 0.7 pips |
Exness (Low-Spread Account) 0.8 pips |
Exness (Zero Account) 0.8 pips |
|
AUD/NZD |
Exness (Zero Account) 1.0 pips |
Exness (Low-Spread Account) 1.1 pips |
ThreeTrader (Raw Zero Account) 1.8 pips |
|
XAUUSD |
Exness (Low-Spread Account) 1.1 pips |
ThreeTrader (Raw Zero Account) 1.2 pips |
Axi (Premium Account) 1.6 pips |
*For ECN accounts, the spread includes round-trip transaction fees.
Based strictly on the average spreads at the time of this survey, three FX brokers—ThreeTrader, exness, and Axi—appeared very frequently in the rankings for brokers with low spreads.
If you have a specific currency pair that you primarily trade, we recommend opening trading accounts with the top three FX brokers.
Summary
In this article, we’ve thoroughly compared the spreads of FX brokers known for their low spreads and ranked them.
While people tend to focus on generous bonuses and maximum leverage when choosing an FX broker, if you want to keep trading costs low, we recommend the top-ranked FX brokers. Especially for traders who make frequent trades, you should consider not only well-known FX brokers in Japan but also those that offer competitive spreads.
REBATE ONE also offers cashback services for exness, HFM, TitanFX, Axi, and ThreeTrader! By receiving a rebate on fees—more than you would under normal circumstances—you can further reduce your spreads. Be sure to combine this with our other great offers!
