Foreign currency trading has gained plenty of interest as more people look online to make an income. With forex trading, you will become familiar with what is known as the ‘spread’. We will run through the brokers with the lowest spreads on this page.
By making sure that you have signed up with an online broker with one of the lowest spreads in the industry, you are essentially giving yourself more money to complete more transactions. Understanding the spread and how to take advantage of it is crucial if you are looking to make a success of your foreign currency trades. Keep reading to find out more about the forex broker with the lowest spread.
Who should make use of the comparison
If you are looking at getting started within the world of online foreign currency trading, then this comparison is for you. By taking a look at the best low spread forex broker you are gaining a valuable glimpse into the portion of funds that you will have to hand over to each broker. Taking the spread into account is crucial to keep track of all your online transactions to determine the profitability of your venture. The industry is incredibly competitive and plenty of brokers are looking to lower their spreads to compete with other online operators. Head to our forex broker in Australia page if you want a more general article.
Operator Checklist: Top5 steps for a secure & fair trading experience
Before you can consider signing up with an online broker, it is important to consider the legitimacy of the offer you are interested in. For that reason, our experts have put their 5 steps on offer to determine if you are in for a secure and fair experience.
Security methods
The first consideration you should make regarding an online broker’s service is the security methods that they have in place to protect both your data and your funds. This will usually be mentioned in their privacy policy and it is also covered in our broker reviews. Knowing your details and money is safe is the most important aspect of a broker service. Browse through some of our forex trading reviews to see who manages to keep your account safe.
Licenses
Another indicator of the legitimacy of an online forex broker lowest spread is the licensing that an online broker has managed to obtain. You might find that an online broker has been licensed by the Australian Securities and Investments Commission (ASIC) which is usually a clear sign of a legitimate service.
In-depth reviews
You will also be able to determine the quality of an online broker service by taking a look at some reviews. Luckily, our expert team here at Wetten have conducted thorough reviews of each Australian broker out there to bring you all the vital information and to determine the forex broker with the lowest spread. You might want to cover the forex trading basics before heading into our online broker reviews.
Customer service
While you are using an online broker service, you might find that you have some queries of transactions or you might run into a bug within the online trading platform. To address these issues, online brokers will usually have a quality customer support team on offer to assist with any problems. Browsing through their customer service area is always worthwhile when considering online brokers.
Online reputation
The final step to determining the quality of an online service is to take a look at the broker’s online reputation. With the immense amount of media coverage we have today, if an online broker were to have any mishaps, you would definitely be able to find out about it online. Make sure to conduct a quick search to determine the online reputation of the broker before signing up. Head to our how to trade forex in Australia page if you are looking at just getting started on the scene.
Our best picks for trading options:
Editor’s recommendation – the best broker
To get involved with what forex broker has the lowest spread, you might be in search of a recommendation from a more experienced trader. Our Editor has a proven track record when it comes to finding the best low spread forex broker and has taken the time to offer a recommendation on their service of choice.
eToro is arguably one of the most reputable brokers within the online trading scene and it is no wonder that they offer forex trades with a 1.0 pip spread. This means that if the AUD/NZD exchange is buying at 1.04, you will receive 1.0399 when purchasing. A relatively small amount to part with when using an online exchange service. eToro also has a world-class customer support team available to all of their customers and you won’t have to pay commissions on your trades. If you want to test the broker out, head to our forex demo account page to see how you can browse through the service without having to pay any real money.
This is how our experts test brokers
You might be wondering exactly how our team here at Wetten conducts these reviews to get an accurate score for which forex broker has the lowest spread. To help you understand the process, we have put together this section to help guide you to finding the lowest spread forex broker in Australia. Given that crypto markets have been experiencing a massive rise in popularity, the first consideration we make is what cryptocurrencies are available to be traded at the online broker. We also judge the options according to competitors in the industry, it is always worthwhile to have niche cryptocurrencies available to pick up on their initial gains. We also consider other trading options that are made available by the broker to give you an insight into the extent of portfolio diversification you will be eligible to receive.
Once the other options have been looked at, we dive into the broker’s jurisdiction and limits implied with their service. This gives you a clear indication of the legitimacy of their service in Australia. We also take a look at the fee structure associated with their service to see just how much of your funds will be claimed during your career. The website is then evaluated by looking at the usability, look and feel of the entire webpage. With so many brokers on the market, it is also important to consider the payment methods that are made available to ensure that your preferred method is available with the broker. If you are looking to pick up your foreign currency trading game, head to our forex strategies page.
We then take a moment to test out the customer support team available with the best low spread forex broker. We judge this section on the number of contact methods made available, the time of the response and the efficacy of the response. The licenses and security methods are also put to the test with regard to the standards that have been set by brokers in the industry. A how-to trade section is included to guide you along the process of signing up with the broker and you will also find that verticals have been put together to detail the various instruments available with each online broker. Finally, our experts offer their conclusion on the online broker service.
Finding the right broker for you
While our reviews are intended for anyone to use, you might be wondering if our low spread forex broker is the right option for you. This will largely depend on your trading interests and needs. Each reader out there will have their own requirements when it comes to an online service and this might differ from what our experts find important. To cope with this, we recommend that you browse through some of our reviews and get a feel for each category. Once this is done, you can begin to identify the important points of service within each category and cross-reference your checklist to our reviews and find the ideal broker.
You must keep in mind that there are plenty of offers out there and there will most likely be more than one option. Narrowing down the list of potential service providers will help you edge closer to the perfect service but don’t shop around for too long, time wasted could have been put towards learning a forex hedging strategy.
Most important sections of the site
Now that you have the relevant information to find a forex broker low spread, you will most likely be in search of more information about the world of online trading. Our online information resource is based on our reviews and guides that aim to inform any interested customers about the industry. You will find articles surrounding each trading instrument, from cryptocurrencies to stocks. We also have a detailed beginner section to help any newcomers to the industry to find their feet. There are also a number of comparison pages like these that narrow down the list of a forex broker with the lowest spread and other key points within their service.
Each trading instrument will have an article dedicated to beginners, how to trade with the instrument, a demo account page detailing what needs to be done to open a demo account with the broker, strategies that can be used with the specific trading instrument and finding brokers with the lowest fees. You will be able to learn all of the specifics of the industry right here at Wetten. Each guide and article has been put together by our team of experts and has been thoroughly researched to bring you the latest and most applicable information with regards to the industry.
Not only do we look to inform all our readers of their options, but we also conduct thorough reviews of the brokers that are available in Australia. These reviews help us determine the best low spread forex broker but they can be used for a wide variety of research. The format has been compiled by our team of experts and offers readers an insight into each broker service before they make the commitment of opening an account with an online broker. If you are looking to apply some strategies to your trades, head to our forex scalping page.
Conclusion
This concludes our best low spread forex broker article. By now, you should have a thorough understanding of what a spread means and how you can try to avoid losing any funds with an online forex broker. This comparison page has been put together to be used by anyone that is interested so all the information can be used by a reader of any experience level. Keep our five steps in mind before you look at opening up an account with an online broker to ensure that the service is both fair and secure.
Finally, use our Editor recommendation if you are looking to get started with online foreign currency trades. eToro is one of the lowest spread forex broker Australia has to offer and has a world-class service. To find out more about another forex trading strategy, head to our forex scalping strategy page.
Forex Broker With Lowest Spread FAQ
🏆 What is the best low spread forex broker?
If you are on the market to sign up with a new forex broker, you will ideally be looking for the one with the lowest spread. Trading of foreign currency has gained a massive amount of interest and this has brought about unprecedented levels of competition within the industry. Each broker is trying to outdo the next by lowering their spread and in turn, saving customers quite a bit of money. You can find out all about spreads and how they can be used in your favour when you are trading foreign currency right here at Wetten Australia. Head to our page to find out all you will need to know.
📋 Is there a low spread forex broker list?
With so many broker services available on the market, you might be in search of a list detailing which of them offer low spreads so that you can save on transaction fees within the forex industry. Our team of experts here at Wetten have a wealth of experience within the industry and have been put to the task of detailing each broker offered on our website. You will be able to find detailed reviews alongside a comparison page of the spreads that you will be encountering with each of their services. Head to our page now to find all the information you will need to sign up with the best low spread forex broker.
📈 What is spread?
If you are completing some foreign currency transactions, it is highly important that you understand the spread and what impact it has on your day to day trading. Our pages here at Wetten have been put together in an easy to understand format. That means that you can find all the details of spread and how to work around paying unnecessary funds to online brokers. You might think that the fees associated with an online service are close to zero, but this is not always the case. Head to our page now to find a detailed article covering forex spread.
🖋️ How do I sign up with a low fixed spread forex broker?
When you are looking to enter the forex industry, the first factor to keep an eye out for is the spread that the forex broker has available. Understanding the spread and what it means to each of your transactions is crucial to your success within the industry. Fortunately, our team of experts have put together plenty of detailed broker reviews and guides to understanding each aspect of the forex industry. You will find a step-by-step method to signing up with each broker while also being able to use our lowest spread comparison page to determine which broker service will have you paying the least funds.
📚 Where can I learn how to trade with forex?
If you are new to the world of online trading and you are looking to learn how to trade foreign currencies, then you have come to the right place. Our service here at Wetten will detail exactly what you need to do to complete some trades and get involved within the industry. Our experts have a wealth of experience with online trading and have put together each page with care to inform every reader, regardless of their skill level. You will find all the information you need to get involved with online trading right here. Head to our page to find out more about forex.
