The forex market is the largest financial market in the world, with trillions of dollars traded every day. As a result, the competition among forex brokers has become increasingly fierce, with each one vying for traders’ business by offering a range of different services and features. One of the key factors that traders look for when choosing a forex broker is the spread, which is the difference between the bid and ask prices of a currency pair. A low spread means that traders can save money on every trade, which can add up to significant savings over time. In this article, we will look at the top 5 forex brokers with the lowest spreads in 2021.
1. IC Markets
IC Markets is an Australian-based forex broker that has been in operation since 2007. The broker is known for its low spreads and fast execution speeds, making it a popular choice among traders. IC Markets offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, and offers over 60 currency pairs to trade. The average spread for the EUR/USD currency pair is just 0.1 pips, making it one of the lowest in the industry.
2. Pepperstone
Pepperstone is another Australian-based forex broker that has been in operation since 2010. The broker offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, and offers over 70 currency pairs to trade. Pepperstone is known for its low spreads and fast execution speeds, with an average spread of just 0.1 pips for the EUR/USD currency pair.
3. XM
XM is a Cyprus-based forex broker that has been in operation since 2009. The broker offers a range of trading platforms, including MetaTrader 4 and MetaTrader 5, and offers over 55 currency pairs to trade. XM is known for its low spreads and competitive pricing, with an average spread of just 0.2 pips for the EUR/USD currency pair.
4. FXTM
FXTM is a Cyprus-based forex broker that has been in operation since 2011. The broker offers a range of trading platforms, including MetaTrader 4 and MetaTrader 5, and offers over 60 currency pairs to trade. FXTM is known for its low spreads and fast execution speeds, with an average spread of just 0.2 pips for the EUR/USD currency pair.
5. HotForex
HotForex is a St. Vincent and the Grenadines-based forex broker that has been in operation since 2010. The broker offers a range of trading platforms, including MetaTrader 4 and MetaTrader 5, and offers over 50 currency pairs to trade. HotForex is known for its low spreads and competitive pricing, with an average spread of just 0.3 pips for the EUR/USD currency pair.
In conclusion, the forex market is highly competitive, and traders have a range of forex brokers to choose from. However, choosing the right broker can make a significant difference in the success of a trader’s trading career. When choosing a forex broker, it is important to consider factors such as the spread, execution speed, trading platforms, and customer support. The forex brokers listed above are some of the top choices for traders who are looking for low spreads and fast execution speeds. However, it is important to do your own research and choose a broker that meets your specific trading needs and preferences.
