Top Broker Spread Awards 2016

If you’re fed up with Forex Awards that anyone can ‘win’ with cash and not merit then TradeProofer proudly presents the real thing: The Top Broker Spread Awards for 2016!

93 forex brokers, 43 FX crosses, commission adjusted spreads and no ‘target spreads’ based on pure tick data. If you crave more boring info, see the below scoreboard but there is only one thing you really need to know:

None of the winners paid us a single cent for their awards!
Yeah, we’re trying something new!!



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Top Brokers, Lowest Spreads - EURUSD


Other Covered Brokers - EURUSD


AvaTrade
Ireland
FX Choice - Pro
Belize
FXDD
Malta
FXOpen - ECN
Saint Kitts And Nevis
FinFx - ECN Pro
Cyprus
FirewoodFX
St. Vincent and the Grenadines
Forex4you - Cent NDD
British Virgin Islands
Forex4you - Standard
British Virgin Islands
FortFS
Belize
FxChoice - Classic
Belize
Mayzus - STP mini
Cyprus
Nord FX
Mauritius
One Financial Markets
UK
TurboForex
Marshall Islands
xCFD
New Zealand

Award

AAAFx
Greece

ADS Securities
United Arab Emirates

ADS Securities - ECN
United Arab Emirates

AGEA
Montenegro
TradeProofer Spread Award with A-class Regulation
ATC Brokers
UK

Admiral Markets
Estonia

Alpari Limited - ProECN
Cyprus

Alvexo
Cyprus

AvaTrade
Ireland

Axitrader - Prime
Australia

Axitrader - Standard
Australia

BTFX
Malta

Blackwell Global
Cyprus
TradeProofer Spread Award with A-class Regulation
Darwinex
UK

EasyForex
Cyprus

Exness
Cyprus
TradeProofer Spread Award
Exness ECN
Cyprus

FBS
St. Vincent and the Grenadines

FIBO Group
British Virgin Islands
TradeProofer Spread Award with A-class Regulation
FPMarkets
Australia

FX Choice - Pro
Belize

FXCC - XL
Cyprus

FXCM
UK

FXDD
Malta
TradeProofer Spread Award
FXGlory
Georgia

FXOpen - ECN
Saint Kitts And Nevis

FXOpen STP
Saint Kitts And Nevis
TradeProofer Spread Award
FXOptimax
St. Vincent and the Grenadines

FXPIG ECN
New Zealand

FXstart
Russia

Fidelis CM - commission
Belize

FinFx - ECN Pro
Cyprus

FirewoodFX
St. Vincent and the Grenadines

Forex.ee
Estonia

Forex.ee - STP
Estonia
TradeProofer Spread Award
Forex4you - Cent
British Virgin Islands

Forex4you - Cent NDD
British Virgin Islands

Forex4you - Standard
British Virgin Islands

Forex4you Pro - STP
British Virgin Islands

ForexTime - ECN
Cyprus

FortFS
Belize

FxChoice - Classic
Belize

FxGrow - ECN
Cyprus

FxPro
Cyprus

GAIN Capital - FOREX.com UK
UK

GBEbrokers
Cyprus

GDMFX
New Zealand

GKFX - ECN
UK

GO Markets
Australia
TradeProofer Spread Award with A-class Regulation
Global Prime
Australia

Hantec Markets
UK

HiWayFX
St. Vincent and the Grenadines

HotForex
Cyprus

IC Markets - Standard
Australia
TradeProofer Spread Award with A-class Regulation
IC Markets - TrueECN
Australia

ICM Capital
UK

IamFX
Panama

JFD Brokers
Cyprus

JustForex - NDD
Belize

LCG
UK
TradeProofer Spread Award with A-class Regulation
LMAX Exchange
UK

LiteForex - Cent
Marshall Islands

MAXFX - ECNMax
Cyprus

MEX Group
UK

Markets.com
Cyprus

Mayzus - STP mini
Cyprus

Mt. Cook - DMA
South Africa

Nord FX
Mauritius

OANDA
US

OctaFX
St. Vincent and the Grenadines

One Financial Markets
UK

One Trade
UK
TradeProofer Spread Award with A-class Regulation
Pepperstone - Razor
Australia

Pepperstone - Standard
Australia

RoboForex - Fix Cent
Cyprus

RoboForex - Pro
Cyprus

RubixFX
Australia

SFX Markets
St. Vincent and the Grenadines

Squared Financial
Ireland

Swissquote Bank
UK

SynergyHybrid
Australia

Tallinex ECN Pro
St. Vincent and the Grenadines

TenkoFX
Belize

ThinkMarkets
Australia
TradeProofer Spread Award with A-class Regulation
Tickmill
UK

Tier1FX
Malta

Traders Way
Dominica
TradeProofer Spread Award
Tradeview
Cayman Islands

TurboForex
Marshall Islands
TradeProofer Spread Award with A-class Regulation
VantageFX Standard
Australia

Varianse - ECNPro
UK
TradeProofer Spread Award
Vipro Markets
Cyprus
TradeProofer Spread Award with A-class Regulation
XM
UK

xCFD
New Zealand

Further Awards Info

Datapoints: For our datapoints, we worked with hourly average spread values between January 1 and December 31 in 2016. Weekend sessions were cut off.

Ranking: The leaderboard is based on the annual average of hourly spreads. We awarded the top 10 brokers with A-class regulation in each FX cross. Overall, the top 10 brokers got awarded regardless of their regulation. We decided not to differentiate among award winners since their spreads are very close to one another.

Regulation: A-class regulation: UK, US, Australia, Switzerland, Germany. MIFID "registration" does not count, just regulation.

Commission adjustment: All spreads were adjusted according to commission in order to avoid comparing apples to oranges. When picking the right commission value, we presumed a plain USD account with no discount due to trade volume or high account deposit.

Disclaimers, limitations

Scope of ranked brokers: Simply put, we display all brokers for whom we had enough community data. There are hundreds of brokers out there so our ranking is not all inclusive. However, we cover a large chunk of the market so we are sure our ranking is a good indicator about a broker's competitiveness. Having said that, we decided not to issue awards to any brokers who hold a "SCAM" rating with the FPA. IronFX and Gainsy were affected by this rule.

Data Quality: We do our best to capture spreads, however, we have to rely on data as given by our community members.

Slippage/Execution issues: Spread awards are based on bid/ask values, not actual execution prices. If you want to check whether your trade execution was fair or not at a specific time at a specific price, use our trade proofing service on TradeProofer.com

If you are interested in further breakdowns and statistics, drop us an email at feedback@tradeproofer.com
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