5 BEST Raw Spreads Brokers For 2024: Reviewed By Dumb Little Man

Raw Spreads brokers are a vital component in the world of Forex trading. They offer the tightest spreads available, often close to zero, which can significantly affect a trader’s profitability. However, selecting the best raw spreads broker is not just about finding low spreads. It’s about ensuring a combination of low transaction costs and reliable trading conditions.

The challenge in choosing the right broker lies in the balance between cost efficiency and broker reliability. A broker offering raw spreads often attracts traders looking to maximize their trading strategies. Yet, it’s crucial to consider factors like execution speed, regulatory compliance, and customer support. These aspects play a key role in a trader’s overall experience and success in the volatile Forex market.

Making an informed decision requires understanding the nuances of raw spreads. It’s important for traders to know that low spreads can come with other costs or limitations. Therefore, a comprehensive evaluation of the broker’s overall offerings, including leverage options, platforms available, and educational resources, is essential for a beneficial trading journey.

What are Raw Spreads and How Does it Work?

Raw Spreads refer to the direct market prices in Forex trading, without any added broker markup. This means traders get access to the actual buying and selling prices as they are in the market. Raw spreads are considered the purest form of pricing available to traders.

The way raw spreads work is quite straightforward. Forex brokers provide a platform where traders can access market liquidity from various banks and financial institutions. With raw spreads, the spread (difference between the buy and sell price) fluctuates based on real-time market conditions. This can lead to extremely tight spreads, often close to zero.

Traders favor raw spreads for their transparency and potential cost savings. Since there’s no additional markup, traders can execute trades at near-market prices. However, it’s important to note that brokers might charge a commission on trades with raw spreads. This model ensures brokers generate revenue while providing traders with competitive pricing.

>>Also Read: What Is Spread in Forex: In Depth Analysis

How Do We Rank the Best Raw Spreads Brokers?

When ranking the best Raw Spreads Brokers, a comprehensive evaluation is conducted by a team of experienced traders. This assessment focuses on a variety of critical factors to ensure a thorough and unbiased analysis. Each broker’s performance and offerings are scrutinized to provide traders with reliable and insightful rankings.

Key factors in this evaluation include the trading volume handled by the broker and the variety of account types they offer. Trading costs, which significantly impact profitability, are carefully analyzed. The broker’s leverage offer and fee structure are also crucial components of the assessment. These elements help determine the financial flexibility and potential costs associated with each broker.

Regulatory compliance is a non-negotiable aspect, ensuring the broker’s reliability and trustworthiness. The minimum deposit required and the average spread provided are also key metrics. These factors, along with the broker’s experience in the industry, play a significant role in the ranking process.

Input from retail traders working with the evaluating team adds real-world insights to the analysis. Additionally, reviews posted by traders on the broker’s website contribute to a more holistic understanding of the broker’s performance. Finally, a unique algorithm is employed, sorting these companies based on pre-defined criteria. This algorithm provides an overall rating for each company, culminating in a reliable ranking of the best raw spreads brokers.

Best Raw Spreads Brokers: Overview

5 Best Spread Betting Brokers: Detailed Insights

#1. Best Overall Raw Spreads Broker: RoboForex

RoboForex stands out as the best overall raw spreads broker, with a strong foothold established since 2009. Catering to a vast clientele in 169 countries, RoboForex has successfully amassed over 3.5 million users, showcasing its global reach and trust. The company’s distinction as a leading software developer in the Forex industry further cements its position at the forefront of Forex trading solutions.

The brokerage’s reputation for reliability is acknowledged by respected financial market experts, underlined by its collection of prestigious awards. RoboForex’s commitment to legal and ethical trading practices is reinforced by its international license from FSC Belize and a European license from CySEC. This dual licensing demonstrates its adherence to stringent regulatory standards, making it a trusted choice for traders seeking a secure and transparent raw spreads broker.

☞ How Does It Work?

RoboForex operates by offering a diverse range of account types, including Pro, Pro-Cent, ECN, and Prime. Each account type is designed with unique specifications to cater to different trading needs and preferences. These accounts are predominantly compatible with popular trading platforms like MT4/MT5, and they support various base currencies such as USD, EUR, and ZAR. This flexibility ensures that traders across the globe can trade with ease and efficiency.

For newcomers, RoboForex makes an appealing proposition with a $30 USD welcome bonus, simplifying the entry into Forex trading. The process for depositing and withdrawing funds is designed to be straightforward, offering traders hassle-free financial transactions. Additionally, RoboForex extends its services beyond forex, enabling stock trading through its RoboForex R StockTrader account. Depending on the chosen account type, traders can benefit from spreads ranging from 0 to 1.3 pips and leverage that can extend up to 1:2000. These features highlight the platform’s versatility and its commitment to providing options suitable for various trading strategies and risk appetites.

☞ Who Is It Best For?

RoboForex is best suited for a broad spectrum of traders, from beginners to experienced market participants. Its array of account types, coupled with an extensive range of educational resources, makes it an ideal platform for traders at varying levels of expertise.

For newcomers in the Forex market, RoboForex presents a welcoming environment. The platform’s user-friendly interface and comprehensive learning materials are perfectly tailored for those just starting their trading journey. Beginners will find it easier to navigate the complexities of Forex trading with these supportive tools. On the other hand, seasoned traders can leverage the advanced features and trading tools available in more sophisticated account types. This balance between educational support and diverse trading options solidifies RoboForex as a versatile choice, catering to a wide array of trading needs and strategies.

#2. Best Raw Spreads Broker for Advanced Traders: Admiral Markets

Admiral Markets, established in 2001, is acclaimed as the best raw spreads broker for advanced traders. With its operations registered and licensed by the Australian Securities and Investments Commission (ASIC), the broker has expanded its reach to over 40 countries, boasting a cash cycle upwards of USD 40 billion. This extensive global presence and significant financial throughput underline its reliability and capacity to serve sophisticated traders.

The broker’s robust regulatory framework, including a lifetime license from the Federal Financial Markets Service and regulation by the Financial Conduct Authority (FCA), ensures a high standard of compliance and security for its clients. A key feature setting Admiral Markets apart is its access to the FX+Project, an advanced tool that caters specifically to the needs of seasoned traders. This combination of strong regulatory oversight and specialized trading tools positions Admiral Markets as a premier choice for advanced traders seeking a comprehensive and secure trading environment.

☞ How Does It Work?

Admiral Markets functions through a range of flexible account options, each tailored to suit different trading needs and styles. The platform categorizes its accounts mainly into two types, based on their associated trading platforms: the Admiral Markets Account and the Admiral MT5 Account. This structure allows traders to select an account that best aligns with their specific trading objectives and strategies.

The Trade.MT5 Account offers an array of currency options including USD, EUR, GBP, and POL, starting with a competitive spread of just 0.5 pips. This makes it an attractive choice for traders seeking diverse currency trading options. For investors, particularly those new to trading or with limited funds, the Invest.MT5 Account is an ideal choice, requiring a minimal deposit of only $1. On the other hand, the Zero.MT5 Account appeals to those seeking minimal spreads, starting at zero. However, traders should be aware that this account type excludes access to commodity futures and cryptocurrency CFDs, which is a crucial consideration for those interested in these markets.

☞ Who Is It Best For?

Admiral Markets is ideally suited for advanced traders who demand a sophisticated trading environment. The platform’s array of account options, including the Trade.MT5 and Zero.MT5 accounts, are particularly beneficial for those who have a firm grasp of the Forex market and require a variety of trading instruments. These account types offer features like competitive spreads and a broad range of currency options, aligning well with the needs of experienced traders who seek depth and flexibility in their trading strategies.

At the same time, the Invest.MT5 account, with its low minimum deposit requirement, also makes Admiral Markets an attractive option for beginning investors. This account type is especially accommodating for those starting with limited capital but wanting to engage in the market. However, the platform’s comprehensive offerings and advanced tools mainly cater to traders with a sound understanding of market dynamics, making it a top choice for those who are well-versed in trading and looking for a robust and versatile trading platform.

#3. Best Raw Spreads Broker for Beginners: Exness

Exness, established in the Forex market since 2008, stands as the best raw spreads broker for beginners. Managed by Nymstar Limited and registered in the Republic of Seychelles, Exness operates under the robust regulatory frameworks of CySEC (Cyprus), FCA (Great Britain), and FSA (Seychelles). This regulatory compliance ensures a secure and trustworthy trading environment. As a testament to its success and reliability, the broker holds a prominent position in Forex ratings, with a remarkable monthly trading turnover of $325.8 billion USD.

The broker’s offerings are particularly well-suited for beginners. Exness provides a wide range of trading options, including CFDs for cryptocurrency, stocks, over 120 currency pairs, and commodities like energy and metals. This diversity allows new traders to explore various markets. Key features that make Exness ideal for novice traders include low commission rates, instant order execution, and swift fund withdrawal. These aspects contribute to a user-friendly experience, making the Forex journey less daunting for those just starting out.

☞ How Does It Work?

Exness offers a range of account types, designed to align with the varying levels of expertise and needs of traders. The differences between these accounts lie in aspects like spread size, minimum deposit requirements, and leverage options. This variety provides traders the flexibility to select an account that aligns perfectly with their trading style and experience level.

The Standard account is a popular choice among traders of all skill levels. It stands out with its minimal deposit requirement of just $1 and spreads beginning from 0.3 pips. For beginners or those wanting to test new strategies, the Standard Cent account is an ideal option. This account also requires only a $1 minimum deposit and offers infinite leverage for deposits up to $999, with spreads starting from 0.3 pips.

The Standard Plus account is tailored to suit traders across the spectrum, allowing for trading in small lots, a minimum deposit of just $1, and a spread starting from 1 pip. On the other hand, the Raw Spread account is designed for more experienced traders, featuring narrow spreads and a commission of $3.5 per standard lot (one side) for a minimum deposit of $200. The Zero account is crafted for professional traders, offering zero spreads for most of the trading day on 30 currency pairs, a minimum deposit of $200, and a commission of $0.2 per lot/one way.

Lastly, the Pro account caters to professional traders, providing immediate order execution and no trading commission. It requires a minimum deposit of $200 and allows trading in lots from 0.01. With these diverse account options, Exness emerges as a versatile platform, accommodating a broad range of trading preferences and strategies.

☞ Who Is It Best For?

Exness is particularly well-suited for beginners in Forex trading. The platform’s user-friendly design and a diverse range of account options make it an ideal choice for those who are new to the world of trading. Beginners can start with minimal risk, thanks to options like the Standard and Standard Cent accounts, which require a very low minimum deposit and offer flexible leverage options. This approach allows new traders to gain experience in the market without significant financial commitment.

At the same time, Exness is also a great fit for more experienced traders. Advanced account types like the Raw Spread and Zero accounts cater to seasoned traders seeking tighter spreads and more sophisticated trading conditions. The availability of immediate order execution and the option for no trading commission in the Pro account are features that appeal to professional traders. These aspects, combined with a broad selection of trading instruments, make Exness a versatile platform suitable for a wide array of trading strategies and experience levels.

#4. Best Raw Spreads Broker for Low-Cost Trading: Tickmill

Tickmill, established in 2014, has rapidly gained recognition as a premier international CFD and forex trading platform. Regulated by the UK Financial Conduct Authority (FCA), Tickmill ensures high standards of security and compliance. Its standout feature is the commitment to providing competitive spreads and low risks, achieved through connections with top-tier liquidity providers. This focus on cost efficiency and safety is a cornerstone of its service offering.

Serving a substantial user base of over 111,000 traders and executing more than 215 million trades since its inception, Tickmill has proven its capability and reliability in the market. The platform offers a diverse range of CFD products, including cryptocurrencies, commodities, stocks, and indices, all supported by a suite of advanced trading tools. This variety enhances the overall trading experience for its users.

Tickmill stands out for its exceptionally low spreads and commission fees, positioning it as an ideal choice for traders focused on reducing transaction costs. Additionally, the platform’s efforts to minimize swap rate commissions further amplify the financial advantages for its customers. These features firmly establish Tickmill as a leading choice for Forex traders prioritizing low-cost trading.

☞ How Does It Work?

Tickmill operates under stringent regulatory oversight, ensuring a secure and compliant trading environment for its clients. It is regulated by the Seychelles Financial Services Authority (FSA), holding security dealer license number SD008. Additionally, Tickmill UK LTD is authorized by the Financial Conduct Authority (FCA) in the UK, with registration number 717270. This dual regulation underpins Tickmill’s credibility and commitment to providing a safe trading platform.

The platform caters to various trader needs with two primary account types – VIP and Pro. The VIP Account, designed for high-volume traders, requires a minimum balance of $50,000. In return, it offers exceptionally competitive commission rates, starting at just $1 per standard lot (100k units) or $2 per round-turn, leading to spreads as low as 0.27 pips. On the other hand, the Pro Account is more accessible, requiring a minimum deposit of just $100. Although the commission rates are slightly higher at $4 per round-turn trade, both accounts still offer the advantage of low commissions, making Tickmill an attractive option for traders who prioritize cost-efficiency in their trading strategy.

☞ Who Is It Best For?

Tickmill is an ideal choice for experienced traders who handle large volumes of trades. The platform’s VIP Account, with its requirement for a higher minimum balance, is tailored for seasoned traders who can leverage the benefits of extremely competitive commission rates. This account type is particularly beneficial for those who engage in frequent, high-value trading, allowing them to take advantage of lower costs per trade.

Conversely, the Pro Account caters well to intermediate traders or those with a moderate level of experience in the Forex market. Requiring a more accessible minimum deposit, this account offers slightly higher commission rates but still maintains a focus on cost efficiency. This makes Tickmill a favorable platform for traders who are looking for a balance between reasonable entry requirements and the opportunity to trade with lower costs. The diverse account options and competitive pricing structure make Tickmill a versatile choice for a range of trading styles and experience levels.

#5. Best Raw Spreads Broker for Trading Conditions: Pepperstone

Pepperstone, recognized for its favorable trading conditions, operates a platform where fees are generally low, though they can vary based on the broker and account type. A key feature of this platform is negative balance protection, which significantly reduces the risk of substantial financial losses for traders. Founded in Australia in 2010 and now with a global presence including offices in Nairobi, Limassol, Dubai, Nassau, Melbourne, and Düsseldorf, Pepperstone is known for its low minimum deposit requirement, making it accessible to a broad spectrum of traders. However, it’s crucial to remember the inherent risks of trading CFDs, which could lead to account losses.

☞ How Does It Work?

Pepperstone, with its focus on user-friendliness and simplicity, is an excellent choice for those new to Forex trading. The platform’s intuitive interface facilitates easy navigation and usage, making it accessible to users of all experience levels. This approach significantly reduces the complexity and intimidation often associated with trading platforms, making it a welcoming environment for beginners.

In terms of security and client assurance, Pepperstone places a high priority on safeguarding its clients’ accounts and funds. The platform implements robust security measures to protect investments, fostering a trustworthy trading environment. Particularly for European clients, Pepperstone offers an added layer of security, providing up to 20,000 euros in investment protection.

Pepperstone offers two primary account types – Standard and Razor. The Standard account features an average spread of 0.69 pip, while the Razor account offers zero spread with a low commission structure. This variety caters to different trading preferences and styles. Additionally, the platform provides comprehensive portfolio and fee reports, accessible even via a mobile-friendly interface, allowing traders to monitor their profit, loss, and commissions paid. This level of transparency and control is essential for effective trading management. Furthermore, the platform’s compatibility with multiple mobile trading applications, including MetaTrader 4, MetaTrader 5, and cTrader, offers excellent customization and convenience, enabling traders to manage their investments seamlessly while on the move.

☞ Who Is It Best For?

Pepperstone is particularly well-suited for beginners in Forex trading. The platform’s straightforward and user-friendly interface makes it accessible to those who are new to the world of trading. Beginners will find it easier to understand and navigate the platform, thanks to its simplified design and clear layout. This approachable nature of Pepperstone removes the complexity often associated with Forex trading platforms, making it an ideal starting point for novice traders.

At the same time, experienced traders can also benefit from Pepperstone’s offerings. The platform’s Razor account, with its zero spread and low commission structure, is tailored for traders seeking more advanced trading conditions. Furthermore, the availability of detailed portfolio and fee reports, along with compatibility with popular trading applications like MetaTrader 4, MetaTrader 5, and cTrader, provides the necessary tools and flexibility for seasoned traders. This makes Pepperstone a versatile platform, catering to a diverse range of trading needs and expertise levels.

How To Choose the Best Raw Spreads Broker?

Choosing the best Raw Spreads Broker involves a careful consideration of several key factors. These factors ensure you select a broker that not only offers competitive spreads but also aligns with your trading needs and goals.

• Spread and Commission Costs: One of the primary considerations should be the broker’s spread on currency pairs, which is the difference between the buying and selling price. Look for brokers offering the tightest spreads, ideally close to zero. However, also consider any commissions charged per trade, as these can offset the benefits of low spreads.
• Regulatory Compliance: Ensure that the broker is regulated by reputable financial authorities. This compliance provides a layer of security and trust, safeguarding your investments. Regulated brokers adhere to strict standards and are often more reliable.
• Trading Platform and Tools: Evaluate the trading platforms offered by the broker. Platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are popular for their advanced tools and user-friendly interface. Additionally, assess the availability of analytical tools, charting capabilities, and automated trading options that can enhance your trading experience.
• Account Types and Requirements: Brokers often offer various account types, each with different features and requirements. Consider the minimum deposit, leverage options, and account benefits. For beginners, an account with a low minimum deposit and educational resources is preferable, while experienced traders might look for accounts with higher leverage and advanced tools.
• Customer Support: Reliable customer service is crucial, especially for new traders. Check the availability and responsiveness of the broker’s support team. Having access to prompt and knowledgeable support can be invaluable in resolving issues or answering queries.
• Additional Features and Resources: Look for extra features like educational materials, market analysis, and news feeds. These resources can be particularly beneficial for enhancing your trading knowledge and staying updated on market trends.
• Reputation and User Reviews: Finally, research the broker’s reputation in the trading community. Read user reviews and testimonials to gauge the satisfaction of other traders with the broker’s services. This can provide insight into the broker’s reliability and the quality of their offerings.

Choose Asia Forex Mentor for Your Forex Trading Success

Asia Forex Mentor is an outstanding option for those dedicated to mastering forex trading and seeking substantial financial gains. Founded by Ezekiel Chew, a notable figure in the trading industry recognized for his significant trades and contributions to trading institutions, this platform distinguishes itself. Key aspects that make Asia Forex Mentor a preferred educational platform include:

Comprehensive Educational Content: The program covers a wide array of subjects in forex, stock, and crypto trading, offering an in-depth curriculum aimed at providing the necessary skills and knowledge for market success.

High Success Rate: The platform has a proven track record of producing consistently profitable traders, validating the effectiveness of its educational methods and mentorship.

Expert Mentorship: Learners receive personalized guidance from Ezekiel Chew, leveraging his extensive knowledge in various trading sectors to navigate market intricacies.

Supportive Trading Community: Participants gain access to a community of fellow traders, fostering a collaborative environment for sharing ideas and enhancing the learning experience.

Emphasis on Psychological Strength: The course focuses on the mental aspects of trading, teaching mental resilience, emotional control, and decision-making skills vital for trading prowess.

Current Market Insights: Asia Forex Mentor provides continuous access to up-to-date market information and tools, ensuring learners stay abreast of evolving strategies and trends.

Transformative Testimonials: Numerous success stories of students achieving financial independence through the program underscore its effective and life-changing approach.

In summary, Asia Forex Mentor is an excellent choice for those aiming for high-quality education in forex, stock, and crypto trading. Its holistic curriculum, expert guidance, practical approach, and supportive environment equip learners with the necessary tools and insights to excel in various financial markets.

Conclusion

Concluding from the analysis by the team of trading experts at Dumb Little Man, the top five raw spreads brokers each have their unique strengths, catering to a diverse range of trading preferences and needs. RoboForex excels as the best overall choice, offering an impressive range of account types and a strong software development background, yet it’s important to be mindful of its limited currency pair variety. Admiral Markets stands out for advanced traders with its strong regulatory compliance and specialized accounts, but leverage restrictions can be a downside for some traders.

Pepperstone offers an excellent platform for beginners due to its user-friendly interface and strong security measures, but the lack of cent accounts and limited passive trading options can be a drawback. Other top brokers include those with low forex fees and superior customer support, making them cost-effective and reliable, but they might fall short in terms of analytical materials or passive trading opportunities. 

While these brokers present significant advantages such as competitive spreads, strong regulatory backgrounds, and versatile trading platforms, traders should also consider their limitations, such as account types, available trading instruments, and trading platform features, to ensure they align with their specific trading goals and strategies.

Best Raw Spreads Brokers FAQs

What are Raw Spreads Brokers?

Raw Spreads Brokers are Forex brokers that provide traders with access to the market at the actual, unmarked-up buying and selling prices. They offer the purest form of pricing, often with spreads close to zero, making them a preferred choice for traders looking to trade at near-market conditions.

How do I choose the Best Raw Spreads Broker?

Choosing the best Raw Spreads Broker involves considering factors like spread and commission costs, regulatory compliance, trading platforms, account types, customer support, and additional resources. It’s important to select a broker that aligns with your trading style and goals, offers competitive spreads, and is regulated by reputable authorities.

Are Raw Spreads Brokers suitable for beginner traders?

Yes, many Raw Spreads Brokers are suitable for beginners. These brokers often provide user-friendly platforms, educational resources, and customer support to help new traders navigate Forex trading. However, beginners should also be aware of the risks involved in trading and start with brokers that offer accounts suitable for their initial investment and risk tolerance levels.