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Lowest spread forex brokers in 2022

TD Ameritrade Logo
1st place
TD Ameritrade
Interactive Brokers Logo
2nd place
Interactive Brokers
Forex.com Logo
3rd place
Forex.com
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73% of retail CFD accounts lose money

Are you looking to trade forex at the best and cheapest brokers out there? To help you find the cheapest forex brokers that still offer a great service, we went ahead and did the research for you. We examined more than 100 quality online brokers, with a special focus on their forex fees and currency pair selection. A user-friendly and well equipped trading platform, as well as cheap deposit and withdrawal options were also key selection criteria. Let's see the winners!

Best low spread forex brokers in 2022:

  1. TD Ameritrade is the winner, the best low spread forex broker in 2022. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  2. Interactive Brokers takes second place. Low trading fees. Wide range of products. Many great research tools.
  3. Forex.com rounds out the top three. Low forex fees. Great variety of currency pairs. Diverse technical research tools.
  4. Oanda is ranked fourth. Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  5. IG just made it to the list at the number five spot. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.

Best low spread forex brokers in 2022
Comparison of the best lowest spread forex brokers in 2022

Best low spread forex brokers in 2022
Broker Info Currency pairs Minimum deposit
#1 TD Ameritrade US-based stockbroker 140 $0
#2 Interactive Brokers International broker providing all asset classes 105 $0
#3 Forex.com Global CFD and forex broker 91 $100
#4 Oanda US forex broker 69 $0
#5 IG Global CFD and forex broker 205 $0

Best low spread forex brokers in 2022
How to choose the best low spread forex brokers

Many brokers advertise themselves as 0 spread brokers, however, this can be misleading. While there are indeed many service providers out there whose minimum spread is 0 or close to 0, for the vast majority of the trades they charge higher spreads. The best way to ensure you trade forex at low costs is to check average spreads, because those reflect the true costs charged by the broker.

An excellent overall service level is required to make it to the BrokerChooser list of best brokers in any category. Low trading and non-trading fees were the key selection criteria when compiling the top list of the cheapest forex brokers. In addition, a wide range of currency pairs also weighed heavily in our methodology.

BrokerChooser evaluates 9 key areas for all brokers. Every year, we finetune our methodology based on our own and our users' experiences. We check more than 500 criteria for each broker. We have more than 100 brokers reviewed on our site and our analysts examine more than 40,000 data points overall.

The global currency market is huge and highly liquid, meaning that there is a high number of buyers and sellers at all times. If you are a beginner, be careful with forex trading as forex products are complex and risky, therefore not suitable for everyone. You can easily lose all your invested money. If you are unsure how forex trading works, take a look at our forex education articles.

Still unsure? Check out our broker finder tool for a personalized broker recommendation that takes into account your trading preferences. and find the best broker for you.

Best low spread forex brokers in 2022
Trading fees at the top low spread forex brokers

How much you pay in fees for a trade is a crucial broker selection criteria. Finding the cheapest forex brokers and the lowest cost forex trading platforms hinges on a thorough analysis of trading fees. To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all the discount brokers included in our top list.

Trading fees
TD Ameritrade Interactive Brokers Forex.com Oanda IG
EURUSD benchmark fee $7.0 $10.4 $5.9 $7.9 $16.1
GBPUSD benchmark fee $4.9 $8.3 $3.6 $6.2 $10.2
AUDUSD benchmark fee $8.0 $7.9 $5.6 $8.0 $11.0
EURCHF benchmark fee $7.2 $7.5 $5.8 $5.9 $11.5
EURGBP benchmark fee $9.3 $10.7 $7.1 $9.6 $19.2

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Best low spread forex brokers in 2022
Non trading fees at the top low spread forex brokers

Non trading fees include charges not directly related to trading. The most common among these are deposit/withdrawal fees, the inactivity fee and the account maintenance fee.

Non trading fees
TD Ameritrade Interactive Brokers Forex.com Oanda IG
Account fee No No No No No
Inactivity fee No No Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

And now, let's see the cheapest forex trading platforms in 2022 one by one, starting with the winner, TD Ameritrade.

TD Ameritrade Logo

#1 Best lowest spread forex brokers in 2022
TD Ameritrade

Interactive Brokers Logo

#2 Best lowest spread forex brokers in 2022
Interactive Brokers

Forex.com Logo

#3 Best lowest spread forex brokers in 2022
Forex.com

Visit broker
73% of retail CFD accounts lose money

Oanda Logo

#4 Best lowest spread forex brokers in 2022
Oanda

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78.3% of retail CFD accounts lose money

IG Logo

#5 Best lowest spread forex brokers in 2022
IG

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79% of retail CFD accounts lose money

Best low spread forex brokers in 2022
FAQ

Is there a broker with 0 spreads?

There are some brokers where the difference between bid and ask prices start from 0 pips for the interbank quotes. However, these brokers typically charge a fixed commission per trade defined by the broker.

At brokers offering zero spread usually there are ECN or STP accounts. Make sure you go with a reliable broker that is well regulated. The chance of forex scam among non-regulated 0 spread brokers tends to be high.

What is the cheapest forex broker?

List of the best and cheapest forex brokers:

  1. Fusion Markets - very low trading and non-trading fees
  2. Axi - low forex fees, and free deposits and withdrawals
  3. Saxo Bank - user-friendly and well-designed trading platform, backed by great research
  4. City Index - low forex fees and a smooth account opening process
  5. Questrade - low stock and ETF fees, advanced research tools

Which is the best forex broker?

Best forex brokers in 2022:

  1. Saxo Bank - user-friendly and well-designed trading platform, backed by great research
  2. Fusion Markets - very low trading and non-trading fees
  3. CMC Markets - low forex fees, great web and mobile platforms
  4. Interactive Brokers - low trading fees and a wide range of products.
  5. Capital.com - low forex CFD fees and commission-free real stocks

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit Forex.com
73% of retail CFD accounts lose money
Visit Oanda
78.3% of retail CFD accounts lose money
Visit IG
79% of retail CFD accounts lose money

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