Raw spread brokers offer trading accounts with spreads that are as close to the true market price as possible. This can be a great option for traders who want to maximize their profits and minimize their losses.
However, there are a few things to keep in mind when choosing a raw spread broker. Here are some tips:
Consider your trading goals
Before you start looking for a broker, you need to consider your trading goals. Are you looking to make a quick profit, or are you looking to build a long-term portfolio?
If you’re looking to make a quick profit, then a raw spread broker may be a good option. However, if you’re looking to build a long-term portfolio, then you may want to consider a broker with a different type of account structure.
Look for a regulated broker
Regulation is important for any type of trading, but it’s especially important for raw spread brokers. Raw spread brokers typically offer lower spreads than other types of brokers, which can make them more attractive to scammers.
Make sure to choose a broker that is regulated by a reputable financial authority, such as the Financial Conduct Authority (FCA) in the United Kingdom or the Commodity Futures Trading Commission (CFTC) in the United States.
Compare spreads and commissions
Spreads and commissions are the fees that you’ll pay to the broker for each trade that you make. Raw spread brokers typically offer lower spreads than other types of brokers, but they may also charge higher commissions.
It’s important to compare spreads and commissions before you choose a broker. You want to make sure that you’re getting the best possible deal.
Look for a broker with a good trading platform
The trading platform is the software that you’ll use to place trades and manage your account. It’s important to choose a platform that is easy to use and understand.
Some raw spread brokers offer their own proprietary trading platforms, while others offer third-party platforms. Do some research to find a platform that is right for you.
Consider the broker’s customer support
Raw spread brokers can be complex to use. It’s important to choose a broker with good customer support that is available to help you if you need it.
Table of Key Factors to Consider When Choosing a Raw Spread Broker
Factor | Description |
Trading goals | What are you trying to achieve with your trading? |
Regulation | Make sure the broker is regulated by a reputable financial authority. |
Spreads and commissions | Compare spreads and commissions to find the best deal. |
Trading platform | Choose a platform that is easy to use and understand. |
Customer support | Make sure the broker has good customer support available. |
Additional tips
- Start with a small amount of money
When you’re first starting out with raw spread trading, it’s a good idea to start with a small amount of money. This will help you to limit your losses if something goes wrong.
- Be patient
It takes time to learn how to trade effectively. Don’t expect to become a millionaire overnight.
- Do your own research
Even if you’re following a strategy developed by someone else, it’s important to do your own research before you make any trades. This will help you to make informed decisions and reduce your risk.
By following these tips, you can increase your chances of finding the best raw spread broker for your needs.
Additional factors to consider
In addition to the factors listed above, you may want to consider the following when choosing a raw spread broker:
- The broker’s liquidity
Liquidity is the amount of trading activity that is available on a particular market. Raw spread brokers typically offer tighter spreads in more liquid markets.
- The broker’s leverage
Leverage is a tool that can magnify your profits or losses. Raw spread brokers typically offer higher leverage than other types of brokers.
- The broker’s educational resources
Raw spread trading can be a complex subject. It’s important to choose a broker that offers educational resources to help you learn how to trade effectively.
Choosing the best raw spread broker in 2024 involves a detailed assessment of various factors that impact your trading experience. Here’s a comprehensive guide to help you make an informed decision:
Key Considerations:
- Regulation and Security: It’s essential to ensure your broker is regulated by reputable financial authorities. This ensures transparency and fairness in their operations. Top regulatory bodies include the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and Cyprus Securities and Exchange Commission (CySEC).
- Trading Platforms: The quality of the trading platform is critical. Popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely used due to their robust features and customization options.
- Range of Trading Instruments: A good raw spread broker should offer a wide selection of currency pairs, as well as other financial instruments like commodities, indices, and cryptocurrencies.
- Customer Support and Service: Reliable customer support is crucial in forex trading. Look for brokers offering multiple communication channels and educational resources.
- Fees and Commissions: While raw spread brokers generally have lower spreads, they may charge a commission per trade. It’s important to understand the overall trading costs.
Top Raw Spread Brokers:
- IC Markets: Known for tight spreads as low as 0.0 pips and a range of trading platforms. It offers a wide selection of trading instruments and excellent customer support.
- Pepperstone: Offers competitive pricing with spreads as low as 0.0 pips. It provides multiple trading platforms and a variety of trading instruments.
- AvaTrade: Caters to all levels of traders, offering both fixed and floating spreads. It’s known for competitive pricing and a range of trading instruments.
- Tickmill: Excels in providing direct market access with tight spreads and fast order execution. It offers deep liquidity and is a trusted choice for raw spread trading.
- FP Markets (First Prudential Markets): Offers competitive spreads without hidden markups. It’s known for transparent and cost-effective trading conditions.
- Exness: Prioritizes raw spreads and efficient trade execution. It offers tight spreads and transparent pricing, making it a preferred choice for traders seeking raw spread forex brokers.
Conclusion:
Selecting the best raw spread broker requires careful consideration of various factors, including regulation, trading platforms, range of instruments, customer support, and fees. Brokers like IC Markets, Pepperstone, AvaTrade, Tickmill, FP Markets, and Exness stand out due to their competitive pricing, range of services, and commitment to providing a reliable trading environment. Always consider your specific trading needs and preferences to choose the broker that best suits your requirements.
Comparison Table: Top Raw Spread Broker
| Broker | Regulation | Avg. Spread | Platforms | Trading Instruments | Customer Support |
| IC Markets | ASIC, FCA | As low as 0.0 pips | MT4, MT5, cTrader | Wide range | Excellent |
| Techberry | ASIC, FCA | As low as 0.0 pips | MT4, MT5, | Diverse | Excellent |
| Pepperstone | ASIC, FCA | As low as 0.0 pips | MT4, MT5, cTrader | Diverse | Excellent |
| AvaTrade | ASIC, FCA | Competitive | MT4, MT5 | Various | Good |
| Tickmill | FCA, CySEC | Tight | MT4 | Various | Good |
| FP Markets | ASIC, CySEC | Competitive | MT4, MT5, IRESS | Wide range | Good |
| Exness | CySEC, FCA | Tight | MT4, MT5 | Diverse | Good |
This table provides an overview to help you compare the essential features of top raw spread brokers suitable for your trading in 2024.
TechBerry raw spread broker
TechBerry is a unique entity in the forex trading arena, branded as a social trading analytical platform. It differentiates itself by harnessing vast amounts of data from over 100,000 forex traders globally. This data is then analyzed using an inbuilt deep learning algorithm to identify potentially beneficial trading activities. TechBerry operates on popular platforms like MetaTrader 4 and MetaTrader 5, allowing for integration that experienced traders may find advantageous.
Pros of TechBerry:
- Extensive Data Analysis: TechBerry’s use of data from a large pool of traders for generating trading signals is a standout feature. This broad data set can potentially offer diverse market insights.
- Automated Trading Signals: The platform provides automatic forex signals, leveraging AI to analyze trading data, which can be a significant advantage for traders looking for automated solutions.
- Platform Integration: TechBerry’s compatibility with MT4 and MT5 platforms offers experienced traders the comfort of familiar trading environments.
- Client Security: The platform emphasizes customer security, using advanced measures to protect account information and funds.
- Trial and Subscription Options: With a range of packages, including a 14-day trial, traders can choose the option that best suits their needs.
Cons of TechBerry:
- High Minimum Deposit: The minimum deposit requirements range from $500 to $5,000, which might be steep for some traders, especially considering the platform’s unregulated nature.
- Concerns Over Bold Claims: TechBerry makes bold claims about guaranteed returns, which is generally a red flag in the trading industry as no returns can be guaranteed.
In summary, while TechBerry presents an innovative approach to social trading by using AI and a vast database, potential users should be cautious. Additionally, the high minimum deposit of the service add to the risk profile.
Pepperstone
Pepperstone is a well-regarded online forex, spread betting, and CFD broker, serving over 300,000 clients in more than 170 countries. It offers a variety of trading platforms including MetaTrader 4, MetaTrader 5, TradingView, and cTrader, catering to a wide range of trading preferences.
Pros of Pepperstone:
- Diverse Trading Platforms: Pepperstone provides multiple trading platforms, which are highly customizable to suit different trading styles.
- Wide Range of Tradable Instruments: Clients can trade CFDs on forex, shares, indices, ETFs, cryptocurrencies, commodities, and currency indices, offering a broad spectrum of trading options.
- No Deal Desk Model: Initially, Pepperstone operated on a “No Deal Desk” model to eliminate conflicts of interest, although there have been changes to their interest rate structure.
- Strong Regulatory Framework: Regulated by several bodies including FCA, ASIC, DFSA, CySEC, and others, Pepperstone adheres to strict regulatory standards, enhancing its trustworthiness.
- Low Forex and Non-Trading Fees: The broker is known for its low forex fees, and there are no inactivity or account fees. This can be particularly beneficial for traders looking for cost-effective trading options.
Cons of Pepperstone:
- Limited Availability: Unfortunately, Pepperstone is not available in the United States, restricting its access to traders from this region.
- Basic MetaTrader Platform: While offering various platforms, the MetaTrader platform provided is considered basic compared to other available platforms.
- High Costs for Holding Positions Overnight: Traders who hold positions overnight may face higher costs, which could impact trading strategies that involve holding trades for longer periods.
- Demo Accounts Expire: The demo accounts at Pepperstone expire after 30 days, although there is an option for clients with live funded accounts to request non-expiry.
- Lack of Guaranteed Negative Balance Protection: Outside of the UK/Europe, Pepperstone does not offer guaranteed negative balance protection, which could be a risk factor for traders.
In conclusion, Pepperstone stands out for its wide range of trading platforms, strong regulatory framework, and low trading fees. However, the broker’s limited availability in certain regions, basic MetaTrader platform, and certain limitations regarding demo accounts and negative balance protection are factors that potential clients should consider. As always, traders should weigh these pros and cons against their individual trading needs and preferences.
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