Which brokers offer the lowest spreads on EUR/USD?
Verdict
- Pepperstone is our pick for low EUR/USD costs: Razor averages 0.1 pips plus $3.50 per side on MT5 and TradingView, or $3.00 per side on cTrader, about $7 to $8 per round-turn lot.
- XS Elite publishes the same 0.1-pip average with a $6 round-turn commission, but needs $500 to open.
- IC Markets publishes a lower Raw average (0.01 pips) but is not listed as accepting UAE residents in our data; once commission is added, the all-in costs of the leading raw accounts sit within about a dollar of each other.
- On commission-free accounts, Pepperstone Standard's 1.1-pip average is tighter than FP Markets' 1.21 and Equiti's typical 1.4.
The lowest EUR/USD spread is not the same as the cheapest EUR/USD trade, because raw-spread accounts add a commission. Compare the all-in cost per lot and the field narrows to a handful of brokers within a dollar of each other. Pepperstone is among the cheapest that accept UAE residents, with a $10 minimum, so it is our pick.
Pepperstone's EUR/USD pricing
Pepperstone publishes an average EUR/USD spread of 0.1 pips on Razor and 1.1 pips on Standard. Razor adds $3.50 per side on MT5, TradingView and its own platform, $7 per lot at the open on MT4, and $3.00 per side on cTrader. With a pip worth $10 on a standard lot, that puts a round turn at about $8, or $7 on cTrader. Standard costs about $11 with no commission. UAE residents can hold the account in AED and use retail leverage of up to 1:200 on major pairs.
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EUR/USD all-in cost per standard lot
Spread converted at $10 a pip, plus round-turn commission, using each broker's published figure. "From" figures are best cases, not averages, so they are not directly comparable.
| Broker and account | Spread | Type | Commission (round turn) | Approx. cost |
|---|---|---|---|---|
| Pepperstone Razor (cTrader) | 0.1 | Average | $6 | $7 |
| Pepperstone Razor (MT5/TradingView) | 0.1 | Average | $7 | $8 |
| Pepperstone Standard | 1.1 | Average | None | $11 |
| XS Elite ($500 minimum) | 0.1 | Average | $6 | $7 |
| FP Markets Raw | 0.11 | Average | $6 | $7.10 |
| FP Markets Standard | 1.21 | Average | None | $12.10 |
| IC Markets Raw (UAE not listed) | 0.01 | Average | $7 | $7.10 |
| Equiti Premier ($3,000 minimum) | 0.0 | Typical | $7 | About $7 |
| Equiti Standard | 1.4 | Typical | None | About $14 |
Reading the table honestly
- Pepperstone's cTrader price ties for the lowest all-in cost among brokers that accept UAE residents in our data, and it needs only $10 to start.
- XS Elite matches it at $7 but requires a $500 minimum; Equiti's Premier figure is a "typical" spread and needs $3,000.
- Capital.com does not publish a static EUR/USD figure, only live spreads, so it is not in the table.
- Brokers quoting only "from" spreads, such as ActivTrades (from 0.5) or ADSS Elite+ (from 0.7), can look cheap but give no average to compare.
What else to check besides the spread
Average spreads hide the widening that happens at the daily rollover and around big data releases, so test the live spread at your trading hours. If you hold positions overnight, swap matters: Pepperstone does not offer UAE residents a swap-free account, while XS applies one automatically and Capital.com offers one on request. And check which company holds your account: for Pepperstone's UAE retail clients it is Pepperstone Markets Limited, regulated by the SCB in the Bahamas (SIA-F217).
Sources
EUR/USD figures from each broker's own pricing pages.
Who has the lowest EUR/USD spread overall?
In our data, IC Markets publishes the lowest Raw average at 0.01 pips, but it is not listed as accepting UAE residents. Once commission is added, Pepperstone on cTrader, XS Elite and FP Markets Raw all land at about $7 per lot.
Is Pepperstone's Razor or Standard account cheaper on EUR/USD?
Razor, at about $7 to $8 per round-turn lot against about $11 on Standard. Standard is simpler, because the whole cost sits in the spread.
Why does XS need $500 for its 0.1-pip spread?
The 0.1-pip average belongs to XS's Elite account, which has a $500 minimum and a $6 round-turn commission.
CFDs are complex instruments and carry a high risk of losing money rapidly because of leverage. Only trade with money you can afford to lose and make sure you understand how CFDs work. This page is general information, not investment advice; check each broker's current terms on its own site before opening an account.