Top Broker Spread Awards 2020

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 2020!

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!!





Top Brokers, Lowest Spreads - USDCHF


Axitrader (Prime)
Australia
TradeProofer Spread Award
FXOpen ECN
Vanuatu
TradeProofer Spread Award with A-class Regulation
Fusion Markets - Zero (ECN)
Australia
TradeProofer Spread Award with A-class Regulation
GO Markets - Plus
Australia
TradeProofer Spread Award with A-class Regulation
IC Markets Raw
Australia
TradeProofer Spread Award with A-class Regulation
LMAX - SVG
UK
TradeProofer Spread Award
Pepperstone Razor
Australia
TradeProofer Spread Award with A-class Regulation
TitanFX (Blade)
Australia
TradeProofer Spread Award
VantageFX (Raw ECN)
Australia
TradeProofer Spread Award
XM - AUS (Zero)
Australia
TradeProofer Spread Award

Other Covered Brokers - USDCHF


ACY Securities
Australia
ATC Brokers
US
Axiory (Nano spread)
Belize
Axitrader (Standard)
Australia
BDS Markets - Swiss classic
Mauritius
Bigboss (Pro)
St. Vincent and the Grenadines
Blackbull Markets - ECN Prime
New Zealand
CityIndexAu - Demo (std)
Australia
Darwinex
UK
Dukascopy - Demo
Switzerland
ETO (Std)
Australia
EightCap - Raw (ECN)
Australia
FPMarkets - Raw
Australia
FxPro
Cyprus
Gaitame Finest
Gemforex (Std)
Bermuda
Global Prime
Australia
Goldenway - Standard
Japan
HANTEC Markets (MT4Pro)
UK
Hot forex (Zero)
Cyprus
IC Markets (Standard)
Australia
ICM Capital
Luxembourg
IFS Markets (Pro)
Australia
IG
UK
IS Prime Limited - SVG
UK
LMAX - API/FIX/.NET
UK
LMAX MT4
UK
Oanda Japan (Pro)
Japan
Rakuten Securities Australia
Australia
Royalplatforms - Standard
Australia
Saxo Bank
SuperTrader Markets (Classic)
Australia
ThinkMarkets (Standard)
Australia
Tickmill ECNPro
UK
Trademax - Raw (ECN)
Australia
Traders Trust (Pro)
Bermuda
Traders Way
Dominica
Tradeview (Std)
Cayman Islands

Award

ACY Securities
Australia

ATC Brokers
US

Axiory (Nano spread)
Belize
TradeProofer Spread Award
Axitrader (Prime)
Australia

Axitrader (Standard)
Australia

BDS Markets - Swiss classic
Mauritius

Bigboss (Pro)
St. Vincent and the Grenadines

Blackbull Markets - ECN Prime
New Zealand

CityIndexAu - Demo (std)
Australia

Darwinex
UK

Dukascopy - Demo
Switzerland

ETO (Std)
Australia

EightCap - Raw (ECN)
Australia

FPMarkets - Raw
Australia
TradeProofer Spread Award with A-class Regulation
FXOpen ECN
Vanuatu
TradeProofer Spread Award with A-class Regulation
Fusion Markets - Zero (ECN)
Australia

FxPro
Cyprus
TradeProofer Spread Award with A-class Regulation
GO Markets - Plus
Australia

Gaitame Finest

Gemforex (Std)
Bermuda

Global Prime
Australia

Goldenway - Standard
Japan

HANTEC Markets (MT4Pro)
UK

Hot forex (Zero)
Cyprus

IC Markets (Standard)
Australia
TradeProofer Spread Award with A-class Regulation
IC Markets Raw
Australia

ICM Capital
Luxembourg

IFS Markets (Pro)
Australia

IG
UK

IS Prime Limited - SVG
UK

JFD Brokers
Cyprus

LMAX - API/FIX/.NET
UK
TradeProofer Spread Award
LMAX - SVG
UK

LMAX MT4
UK

Oanda Japan (Pro)
Japan
TradeProofer Spread Award with A-class Regulation
Pepperstone Razor
Australia

Rakuten Securities Australia
Australia

Royalplatforms - Standard
Australia

Saxo Bank

SuperTrader Markets (Classic)
Australia

ThinkMarkets (Standard)
Australia

Tickmill ECNPro
UK
TradeProofer Spread Award
TitanFX (Blade)
Australia

Trademax - Raw (ECN)
Australia

Traders Trust (Pro)
Bermuda

Traders Way
Dominica

Tradeview (Std)
Cayman Islands
TradeProofer Spread Award
VantageFX (Raw ECN)
Australia
TradeProofer Spread Award
XM - AUS (Zero)
Australia

Further Awards Info

Datapoints: For our datapoints, we worked with hourly average spread values between August 1 and August 31 in 2020. 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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