10 Best Raw Spread forex brokers

    The 10 Best Raw-spread Forex Brokers revealed. Best Raw-spread forex brokers offer traders the advantage of trading with minimal spreads, often starting from 0.0 pips, coupled with transparent commission fees.  

 

🏆10 Best Forex Brokers in South Africa

 

10 Best Raw Spread Forex Brokers

 

What are Raw Spread accounts?

Spread in its raw form comes straight from liquidity sources and thus has the smallest spread. There are no mark-ups or mark-downs in spreads, but there is a commission price. When you use a raw spread account, the price when you enter a position is almost comparable to the market price at the time of entry.  

10 Best Raw Spread Forex Brokers

1. ☑️Pepperstone  – TradingView Broker of the Year in South Africa.
2. ☑️ThinkMarkets - Best low-cost Spreads option in SA.
3. ☑️IC Markets  – Low-cost structure enhances profitability.
4. ☑️VantageFX – An award-winning CFD broker with competitive spreads.
5. ☑️Exness – Secure trading environment and competitive spreads.
6. ☑️BDSwiss –  Best delivers industry-leading trading conditions
7. ☑️XM – Lowest spreads and no hidden commissions.
8. ☑️FPMarkets –  Best Tradable Instruments in South Africa.
9. ☑️RoboForex –  Best Currency Market in SA.
10. ☑️TrioMarkets –  Best automated trading platform.

 

1. Pepperstone

  Pepperstone is an Australian broker that was founded in Melbourne in 2010. In 2015, it opened a London office. The Financial Conduct Authority (FCA) of the United Kingdom and the Australian Securities and Investments Commission(ASIC) regulate the broker. It provides a variety of trading platforms to traders and continues to grow its market share thanks to low trading costs, quick trade executions, and a well-balanced asset selection. Pepperstone holds a distinguished position as a forex dealer whose fame in the industry is credited to its competitive spreads, which are especially noticeable in its Raw account. The traders benefit from this account type because it offers an extremely low spread that may go to zero on most major FX pairs.  

Features

   

Pros and Cons

 

Our Findings

Pepperstone is known globally as a forex and CFD broker that offers competitive pricing, low spreads, quick execution speeds, and reliable trading platforms.  

What makes Pepperstone a top raw spread broker?

Pepperstone offers ultra-tight raw spreads from 0.0 pips, lightning-fast execution, and deep liquidity. It’s ideal for scalpers and algorithmic traders seeking institutional-grade pricing with low commissions and access to both MT4 and cTrader platforms.

 

Does Pepperstone charge extra fees on raw accounts?

Pepperstone’s Razor Account features a small commission per trade but zero hidden costs. Traders benefit from transparent pricing, no dealing desk intervention, and direct market access for fair, low-cost forex trading across major, minor, and exotic currency pairs.

   

2. ThinkMarkets

  ThinkMarkets is a multi-asset online brokerage firm founded in Australia and the United Kingdom in 2010. Despite its headquarters in Australia and the United Kingdom, the broker is regulated and approved by several severe and demanding regulatory and authorization agencies, including ASIC, FCA, FSCA, CySEC, JFSA, and FSA. With a minimum deposit of $ 500, traders can enjoy raw spreads as low as zero pips, limited commission fees, fast order execution, and up to 1:500 leverage with the broker's ThinkZero account. “ThinkMarkets aims to attract active traders with this low-cost structure that includes raw spreads within its ThinkZero account.  

Features

   

Pros and Cons

 

Our Findings

The broker is allowing its customers to trade on many platforms, including MetaTrader 4 and MetaTrader 5, while maintaining their ThinkTrader, which is easy to use with an advanced chart tool.  

Why do traders choose ThinkMarkets for raw spreads?

ThinkMarkets provides raw spreads from 0.0 pips with rapid execution and zero requotes. It offers multiple trading platforms, including MT4 and ThinkTrader, ensuring professional-grade performance for day traders and high-frequency strategies.

 

Is ThinkMarkets regulated and safe for raw spread trading?

Yes, ThinkMarkets is regulated by top-tier authorities like ASIC and FCA. It ensures segregated client funds, strong security, and transparent raw pricing structures, making it a trustworthy option for traders needing consistent low spreads and high-speed execution.

   

3. IC Markets

  IC Markets is an Australian-based corporation that is regulated and authorized by the Australian Securities and Investments Commission (ASIC). The company was established in 2007 and has its headquarters in Sydney. IC Markets is an electronic communication network (ECN) broker, which implies that there is no dealing desk or other types of trade intervention between the trader and the rest of the trading community. IC Markets' ECN trading environment allows traders to take advantage of the tight spreads that the company offers. IC Markets directs its Raw Spread account towards proactive foreign exchange (forex) traders as it offers the most competitive spreads in the market (with a starting point of 0.0 pips), thereby helping them save a lot of money. Being designed on an Electronic Communication Network basis, the model provides direct access to different markets and makes it possible to realize trade operations more quickly due to higher liquidity from more sources.  

Features

   

Pros and Cons

 

Our Findings

With state-of-the-art trading platforms like MetaTrader 4, MetaTrader 5, and cTrader, traders can enjoy low spreads courtesy of IC Markets, which commence at 0.0 pips, along with high speeds in trade execution.  

How competitive are IC Markets’ raw spreads?

IC Markets offers some of the industry’s lowest raw spreads—often starting at 0.0 pips—with ECN-style execution. Traders enjoy deep liquidity and minimal latency, ideal for scalpers, algorithmic strategies, and institutional-style trading environments.

 

Which platforms support raw spreads at IC Markets?

IC Markets provides raw spreads on MT4, MT5, and cTrader platforms. All offer fast execution, advanced order types, and low commission fees, ensuring an optimal trading experience for professional and retail forex traders alike.

   

4. Vantage

  Vantage was established in 2009 under the name MXT Global. Its headquarters are in Sydney. Its name changed in 2015. The broker is regulated by the Australian Securities and Investments Commission (ASIC), the Cayman Islands Monetary Authority (CIMA), and the Financial Conduct Authority (FCA) in the United Kingdom. Besides offering Raw ECN accounts, Vantage also maintains live links with two of the most popular social trading platforms on the market: ZuluTrade and MyFXBook Autotrade. So, for example, you might use a Raw ECN account while simultaneously following trading signals from skilled traders.  

Features

   

Pros and Cons

 

Our Findings

Vantage RAW ECN account is designed for experienced, active forex traders who can make the most of the narrow spreads that allow quick execution for greater profitability.  

What are the benefits of Vantage raw spread accounts?

Vantage RAW ECN Account offers spreads from 0.0 pips and commissions as low as $3 per lot. It delivers high-speed execution through top liquidity providers and suits traders using scalping or automated systems.

 

Is VantageFX regulated and transparent with pricing?

Yes, VantageFX is regulated by ASIC and VFSC. It provides transparent raw pricing, no-dealing desk execution, and segregated funds protection, giving traders confidence in fair and secure forex trading conditions.

   

5. Exness

  Exness was established in 2008 and is regulated by CySEC, FCA, South Africa FSC, SIBA, the Financial Services Commission of the British Virgin Islands, and the Central Bank of Curaçao. Exness is competitive in terms of trading costs and spreads. When compared to other FSCA-regulated brokers, their spreads are quite low, and the Pro account has no hidden trading fees or charges. The spreads on their Standard and Raw Accounts are also quite modest. Exness offers a Raw Spread account for experienced traders seeking maximum transparency and tight pricing.  

Features

   

Pros and Cons

 

Our Findings

The Exness platform is user-friendly, with options (MetaTrader 4 and 5) and multilingual customer support that meets various trading needs.  

Why is Exness popular for raw spread trading?

Exness offers ultra-tight raw spreads from 0.0 pips with fast market execution and high leverage. It supports various account types and platforms, ensuring professional-grade conditions for active traders and scalpers.

 

Are there commissions on Exness raw spread accounts?

Yes, Exness applies a small commission per side on raw accounts, but it maintains transparent, stable pricing. Traders enjoy low trading costs, reliable execution, and 24/7 support across forex, metals, and CFDs.

   

6. BDSwiss

  BDSwiss was founded in 2012, and its headquarters are in Switzerland. The broker is regulated through the Cyprus Securities and Exchange Commission (CySEC), and FSC in Mauritius the FSA in Seychelles. BDSwiss offers traders the opportunity to trade an array of financial instruments on reliable trading platforms through the choice of six account types. BDSwiss’s Raw Spread account provides clients who want maximum transparency and very low pricing. It is designed for people seeking to trade on a Raw Spread account. This account comes with extremely competitive spreads that go down to 0.0 pips in major currency pairs.  

Features

   

Pros and Cons

 

Our Findings

BDSwiss is well-known for its dependability and transparency since it is controlled by various top-notch authorities, such as CySEC and FSC.  

What makes BDSwiss suitable for raw spread trading?

BDSwiss provides raw spreads from 0.0 pips through its Raw Account, offering fast execution, tight pricing, and low commissions. It’s designed for professionals who demand precision and cost efficiency in volatile markets.

 

Does BDSwiss support major platforms for raw spreads?

Yes, BDSwiss offers MT4, MT5, and its proprietary WebTrader with raw spread options. These platforms deliver seamless access, fast execution, and strong charting tools for both manual and automated forex trading.

   

7. XM

  XM is a well-known online worldwide broker based in Cyprus. The XM Group was established in 2009 and is regulated by ASIC in Australia, the IFSC in Belize, and CySEC in Cyprus. Although XM is better recognized as a dealing-desk broker than a raw spread provider, its newly announced XM Zero account offers a raw spread as low as zero pips. XM aims at active traders as far as the XM Zero account, which operates like a raw spread account, is concerned. It provides ultra-low spreads, which could hit 0 pips on major currencies, thus saving costs substantially while making numerous trades. The XM Zero account may be considered an important learning point, especially about the transaction cost structure and their importance in trading decisions.  

Features

   

Pros and Cons

 

Our Findings

XM Zero aims to serve a clientele experienced in market dynamics and highly participatory in the financial markets that can take advantage of low spreads with possible faster delivery.  

What are XM’s raw spread trading advantages?

XM offers spreads from 0.0 pips on its XM Zero Account with low commissions and ultra-fast order execution. It suits traders seeking institutional-level pricing and minimal slippage during high-volume trading sessions.

 

Which platforms are available for XM raw spread accounts?

XM provides raw spread access via MT4 and MT5, delivering full support for automated trading, fast execution, and flexible leverage options suitable for both beginner and professional forex traders.

   

8. FP Markets

    FP Markets, a well-established forex and CFD broker founded in 2005 and headquartered in Australia, is known for providing a wide range of trading instruments like forex, commodities, indices, stocks, and cryptocurrencies using multiple platforms like MetaTrader 4, MetaTrader 5, and IRESS. This company is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) FP Markets is noted for its competitive raw spreads starting from 0.0 pips with fast execution speeds.  

Features

   

Pros and Cons

 

Our Findings

FP Markets also offers solid educational resources, market analysis, and 24/5 customer support, hence making it a complete choice for traders in search of dependability, flexibility, and quality trading experience.  

Why is FP Markets known for raw spreads?

FP Markets offers true ECN raw spreads from 0.0 pips with deep liquidity and fast order execution. Its pricing transparency makes it ideal for scalpers, day traders, and algorithmic systems.

 

Does FP Markets charge commissions on raw accounts?

Yes, FP Markets applies a small per-lot commission on raw accounts. However, its tight spreads, reliable execution, and institutional-grade conditions make it highly cost-effective for active traders worldwide.

   

9. RoboForex

  RoboForex was founded in 2009 as a multi-asset broker and global online financial trading platform. CySEC regulates it, and its headquarters are in Cyprus. Traders can trade stocks, indices, currencies, commodities, ETFs, CFDs, and cryptocurrencies. The broker offers some of the most competitive tight spreads starting at 0 pips. RoboForex could have set a higher figure for the minimum deposit requirement on their raw spread account in comparison to other regular clients they have. This will, however, restrict the registration of novice users who solely want to learn. RoboForex's Raw Spread account can be an even more valuable resource for learning trading, especially among people harboring thoughts about discovering how commissions impact their earnings and forming a solid trading strategy at the same time.  

Features

   

Pros and Cons

 

Our Findings

RoboForex also offers a variety of educational materials, market analysis tools, and a strong loyalty program, so it is an enticing choice for traders seeking full-fledged trading services.  

What distinguishes RoboForex’s raw spread accounts?

RoboForex’s Prime Account delivers raw spreads from 0.0 pips with low commissions and high execution speeds. It supports multiple platforms, including MT4, MT5, and R Trader, ensuring professional trading performance.

 

Is RoboForex suitable for high-frequency strategies?

Yes, RoboForex’s raw accounts are optimized for scalping and algorithmic trading. With ECN-style liquidity, fast execution, and minimal slippage, traders enjoy precision and flexibility across forex, indices, and commodities.

   

10. TrioMarkets

  TrioMarkets is an ECN and STP Forex broker based in Cyprus, which was launched in 2014. EDR Financial Ltd, a financial services firm approved and regulated by the Cyprus Securities Exchange Commission (CySEC), BaFin, FCA, ACP, and MiFID, owns the trading name TrioMarkets. TrioMarkets offers a variety of trading accounts that allow you to trade a limited number of financial assets. “If you are an active trader at TrioMarkets, you may want to consider their raw spread account. However, this choice will be accompanied by higher total costs due to the commissions charged in comparison with other types of accounts.”  

Features

   

Pros and Cons

 

Our Findings

TrioMarkets is known for its competitive trading conditions, including tight spreads, fast execution, and multiple account types tailored to different trading styles and levels of experience.  

What are the features of TrioMarkets’ raw spread accounts?

TrioMarkets offers ECN accounts with raw spreads from 0.0 pips, lightning-fast execution, and tight commission structures. It’s tailored for professional traders requiring direct market access and real-time liquidity.

 

How secure is trading with TrioMarkets?

TrioMarkets is regulated by CySEC, ensuring compliance, segregated funds, and transparent execution. Traders can confidently access raw pricing with institutional-grade safety and reliable trading conditions across major forex pairs.

 

Factors Affecting Spreads for the Best Raw Spread

 

 

You might also like:

Best Polkadot Crypto WalletsBest Cryptocurrency Apps in South AfricaBest MFSA Regulated Forex BrokersBest New Regulated Brokers in South Africa

 

Frequently Asked Questions

Is a raw spread account better?

While Standard Accounts are suitable for beginners and offer simplicity and ease of use, Raw Spread Accounts are preferred by experienced traders for their tighter spreads and lower trading costs.  

What spread is best for forex?

The best spread in Forex is 0.0 spread, which means that there is no difference between the buying price and the selling price. Hence, if you buy a currency pair and sell it immediately, you are at no loss.  

What is a raw spread account?

Raw Spread accounts have ultra-low spreads. How you value the cost of spread determines which account type you prefer.  

What are the commission charges on a raw spread account?

Since there are no spread charges, the broker generates funds through commission charges. This will vary from broker to broker, depending on the account types opened.  

Is it worth it to open a raw spread account?

Everyone has a different trading technique, so it may suit some traders but may not be right for others. It is recommended that traders look at all the pros and cons before opening a raw spread account and then also register for a demo account first.  

What is the difference between a raw spread and a zero spread account?

Similar to raw spread accounts, zero spread accounts are also ECN-based, connecting traders directly to liquidity providers. However, in contrast to raw spreads, zero spreads often come with a fixed commission charged per trade, typically ranging from 0.2 to 3.5 pips depending on the trading instrument and broker.  

Recommended brokers