EUR/USD is the most traded currency pair in the world, accounting for roughly 24% of daily forex volume. Because of this liquidity, it should have the tightest spreads — and it does. But the difference between brokers can still be 0.5-1.0 pips, which translates to $5-10 per lot per trade. We tested 10 brokers to find the cheapest place to trade EUR/USD.
The Full Comparison
All data was collected from live funded accounts during March 2026. Average spreads represent the mean across all three major trading sessions.
| # | Broker | Account Type | Avg Spread | Commission | Total Cost/Lot |
|---|---|---|---|---|---|
| 1 | Exness | Standard | 0.6 pips | $0 | $6.00 |
| 2 | Exness | Zero | 0.0 pips | $7.00 | $7.00 |
| 3 | FP Markets | Raw | 0.1 pips | $6.00 | $7.00 |
| 4 | XM | Ultra Low | 0.6 pips | $0 | $6.00 |
| 5 | IC Markets | Raw | 0.1 pips | $7.00 | $8.00 |
| 6 | XM | Zero | 0.1 pips | $7.00 | $8.00 |
| 7 | Pepperstone | Razor | 0.2 pips | $7.00 | $9.00 |
| 8 | Tickmill | Pro | 0.2 pips | $4.00 | $6.00 |
| 9 | FXTM | ECN | 0.3 pips | $8.00 | $11.00 |
| 10 | eToro | Standard | 1.0 pips | $0 | $10.00 |
Total cost = (average spread in pips x $10) + round-trip commission. Measured during London session, March 2026.
Session-by-Session Breakdown
EUR/USD spreads vary dramatically depending on the time of day. Here is how the top 5 brokers performed across sessions:
Asian Session (00:00-08:00 UTC)
Liquidity is lowest during the Asian session, and spreads widen accordingly. The average EUR/USD spread across our top 5 brokers increased by 30-50% compared to London session.
| Broker | Standard | Raw/Zero |
|---|---|---|
| Exness | 0.8 pips | 0.1 pips |
| XM | 1.0 pips | 0.2 pips |
| IC Markets | 1.0 pips | 0.2 pips |
| Pepperstone | 1.3 pips | 0.4 pips |
| FP Markets | 1.4 pips | 0.3 pips |
London Session (08:00-16:00 UTC)
The tightest spreads of the day. London accounts for the largest share of forex volume, and EUR/USD spreads are at their lowest.
| Broker | Standard | Raw/Zero |
|---|---|---|
| Exness | 0.5 pips | 0.0 pips |
| XM | 0.6 pips | 0.0 pips |
| IC Markets | 0.7 pips | 0.0 pips |
| Pepperstone | 0.9 pips | 0.1 pips |
| FP Markets | 1.0 pips | 0.1 pips |
New York Session (12:00-21:00 UTC)
Slightly wider than London but still competitive. The London-New York overlap (12:00-16:00 UTC) produces the tightest spreads of any period.
Key Takeaways
- Exness and XM tie for cheapest standard account at $6.00 total cost per lot. Both offer 0.6 pip average EUR/USD with no commission.
- Exness Zero wins on raw pricing at 0.0 pips average, though the $7 commission makes the total cost $7.00/lot.
- Tickmill Pro is underrated — their $4 round-trip commission with 0.2 pip spreads gives a total cost of only $6.00/lot, matching the cheapest standard accounts.
- Avoid eToro for cost-sensitive trading. Their 1.0 pip EUR/USD spread is 67% more expensive than Exness or XM.
- Time of day matters more than broker choice. The difference between London and Asian session spreads (0.3-0.5 pips) is often larger than the difference between brokers.
Our Pick for EUR/USD Trading
For most traders, Exness Standard or XM Ultra Low offer the best EUR/USD spreads without the complexity of commission-based accounts. If you are a scalper doing 10+ trades per day, Exness Zero gives the tightest raw pricing.
Start Trading EUR/USD with Tight Spreads
Exness Standard: 0.6 pips, no commission, $10 minimum deposit.
Open Exness AccountOr Try XM with $30 Free
XM Ultra Low: 0.6 pips, no commission, $30 no-deposit bonus.
Open XM Account — $30 FreeTrading forex and CFDs carries a high level of risk. 74-89% of retail investor accounts lose money when trading CFDs. This article contains affiliate links.