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Best Zero Spread Forex Brokers in Australia | November 2026

Updated
12/08/2026
Zero spread accounts quote the same price to buy and sell, at least on major pairs in liquid hours, and charge a fixed commission instead. For strategies that live and die on entry precision, scalping, news trading, high-frequency systems, that pricing model is genuinely valuable. It is also heavily marketed and easily misunderstood. This page compares zero spread forex brokers for Australians and explains what "zero" really includes.
Risk Warning

How to Choose the Right Zero Spread Broker in Australia

Investing Editorial
Author
Investing Editorial
Jordana Goldblum Jungreis
Reviewed By
Jordana Goldblum Jungreis
Malvika Gurung
Fact Checked By
Malvika Gurung
Three questions cut through the marketing. First, what is the all-in cost: commission per round turn plus the average (not minimum) spread, which is rarely zero all day. Second, does execution hold up: a zero quote that slips a pip on fill is a 1-pip spread with extra steps. Third, is the entity AFS-licensed, so ASIC's leverage caps and negative balance protection apply. Zero spread is an account type, not a business model exemption; the broker still earns, and you should know exactly how.

Top Zero Spread Forex Brokers in Australia Compared November 2026

Here are our current picks at a glance. These brokers are presented for informational purposes and are not listed in order of preference. Pricing changes with market conditions, so always verify current commissions and average spreads with the broker directly.

In-Depth Broker Reviews

Plus500: Best for Simple Commission-Free CFD Trading

Plus500

Plus500

4.9

CFD Service. Your capital is at risk.

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Plus500 is a London-listed CFD broker and FTSE 250 constituent regulated by ASIC, CySEC and the FCA among other authorities. It keeps things simple for Australian traders: one proprietary platform on web and mobile, a single live account type with a free unlimited demo, spread-only pricing with no commission and a $100 minimum deposit, backed by stop-loss, take-profit and guaranteed stop tools.
Supported Assets: CFDs on forex majors, minors and exotics, cryptocurrencies such as Bitcoin, Ethereum and Litecoin, commodities across metals, energy and agriculture, global stocks, indices including the S&P 500 and FTSE 100, ETFs, futures and options.
Regulation and Licensing
ASIC (Australia), CySEC (Cyprus) and FCA (UK), among other authorities. Plus500 is listed on the London Stock Exchange, applies AML and KYC checks, and client funds held with its Cyprus subsidiary sit in segregated client bank accounts.
Platform Experience: Proprietary web platform and Android and iOS apps with real-time quotes, advanced charting, push notifications, +Insights, instrument-specific insights and the +Me comparison tool; no algo or copy trading.
Fee Structure:
  • Spread-only pricing with no per-trade commission
  • $100 minimum deposit
  • No deposit or withdrawal fees charged by Plus500, though payment providers may apply their own
  • Inactivity fee after three months without trading
  • Overnight funding on positions held past the daily cut-off and a currency conversion fee on instruments priced in another currency
  • Guaranteed stop orders carry a wider spread
Where it excels
  • 2800+ Traded Assets
  • Wide Range of Tradable CFD Instruments
  • Unlimited Demo Account
  • Competitive Spreads
  • Regulated by Reputable Authorities
Where it falls short
  • Limited Educational Resources
  • High Leverage Poses Risks
Best For: Australian traders who want a clean, single-platform CFD experience with built-in risk tools rather than third-party software.

Read our full review of Plus500

eToro: Best for Social and Copy Investing in One Portfolio

eToro

eToro

4.8

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform.

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eToro, founded in 2007, is built around a community of more than 30 million users who share insights and can copy each other's positions automatically, with Popular Investors paid by the platform for being copied. Smart Portfolios let investors mirror analyst-curated thematic baskets without portfolio management fees, many stocks, ETFs and cryptocurrencies trade commission-free, and the whole offer sits in one proprietary web and mobile interface with a free demo account.
Supported Assets: ETFs, commodities such as gold and oil, an extensive selection of currency pairs and popular cryptocurrencies including Bitcoin and Ethereum, alongside stocks, all managed in a single portfolio; futures are not offered.
Regulation and Licensing
ASIC (Australia), CySEC (Cyprus), FCA (UK) and FSCA (South Africa). Client funds are held in segregated accounts with trusted financial institutions, and accounts are protected by encryption, two-factor authentication and continuous monitoring for suspicious activity.
Platform Experience: Proprietary web platform and iOS and Android apps with social feeds, CopyTrader, Smart Portfolios, advanced multi-instrument charts and one-click trading; no MetaTrader or cTrader support.
Fee Structure:
  • Commission-free trading on many stocks, ETFs and cryptocurrencies, with spreads that vary by asset
  • $50 minimum deposit, varying by region
  • No deposit fees; $5 fee on each withdrawal
  • $10 monthly inactivity fee after 12 months without trading
  • 50 pip currency conversion fee on non-USD deposits
  • Overnight and weekend fees on leveraged CFD positions; guaranteed stop orders carry a fee
Where it excels
  • Intuitive, User-Friendly Platform
  • Range of Asset Classes and Global Exchanges
  • Over 6,000 Instruments to Trade
  • Advanced Trading and Analysis Tools
  • Social Features, Including Copy Trading
  • Smart Portfolios (Ready-Made Thematic Portfolios)
  • Free $100,000 Demo Account
  • Simple, Transparent Fee Structure
Where it falls short
  • Smaller number of assets than some brokers
  • Spreads are on the high end
Best For: Beginners and hands-off investors who want to learn from and copy a large trading community rather than trade alone.

Read our full review of eToro

Moomoo US: Best for Active Traders Who Want Pro-Level Options and Data Tools

Moomoo

Moomoo

4.6
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Moomoo US is built for speed and depth: millisecond Level 2 data, one-tap execution, customisable hotkeys and a pro options chain with a one-click strategy builder, real-time Greeks and gamma exposure tools. Smart money tracking surfaces daily transaction details, 13F filings and insider and congressional activity, all with $0 commission on stock, ETF and options trades and no account minimum, from Moomoo Financial Inc., regulated by the SEC and a member of FINRA and SIPC.
Supported Assets: 10,000+ assets covering U.S. exchange-listed, OTC and Hong Kong-listed stocks and ADRs, ETFs, stock, ETF and index options, 50+ cryptocurrencies and IPO access, with fractional shares on certain U.S. stocks and ETFs; mutual funds, bonds, forex and futures are not offered.
Regulation and Licensing
SEC (USA), with FINRA membership and SIPC protection of securities customers up to $500,000, including $250,000 for cash claims. Client assets are held in segregated accounts, uninvested cash can be swept to partner banks for FDIC insurance eligibility up to $2 million per bank, and multi-factor authentication, biometric login and real-time monitoring protect accounts.
Platform Experience: Proprietary mobile and tablet app and desktop platform with multi-monitor support, plus TradingView integration and an Open API; there is no web trading, though accounts can be connected to TradingView.
Fee Structure:
  • $0 commission on stock, ETF and options trading
  • No account minimum; minimum deposit of $0.01
  • No account, inactivity, deposit, currency conversion or overnight funding fees
  • ACH withdrawals free in 3 to 5 business days; wire withdrawals carry a fee and settle in 1 to 3 business days
  • Margin trading available at a flat rate for certain balances
Where it excels
  • $0 Stock ETF and Options Trading
  • 10000+ Tradable Assets
  • Free Level 2 Data and API Access
Where it falls short
  • No Mutual Funds Available
  • No Futures Trading Offered
  • No Forex Trading Available
Best For: Self-directed U.S. traders who prioritise execution speed, institutional-flow data and advanced options analytics over a simple interface.

Read our full review of Moomoo

What to Compare When Choosing a Zero Spread Broker

Ordered by effect on realised costs.

1. Commission Per Round Turn

The commission is the visible price of zero spreads, typically quoted per lot per round turn, and it varies enough between brokers to decide the comparison by itself. Convert it to pip-equivalents (a $7 round turn is roughly 0.7 pips on a standard EUR/USD lot) so you can compare against ordinary accounts directly.

2. How Often the Spread Is Actually Zero

Zero applies to top pairs in liquid sessions; minors, exotics, and thin hours carry positive spreads on the same account. Ask for average spread tables by pair and session, and weight the Asian session if you trade Australian hours.

3. Execution: Slippage Is the Hidden Spread

Zero-spread strategies are precision strategies, so slippage statistics, requote policy, and depth of liquidity at the touch matter more here than anywhere. A broker with honest 0.1-pip average slippage beats one quoting zero and filling worse.

4. Swap Rates and Other Account Costs

Overnight financing, inactivity fees, and withdrawal charges do not disappear with the spread. Swing traders on zero accounts should compare swaps first, since holding costs quickly dwarf the spread saving.

5. Strategy Permissions

These accounts attract scalpers and EA traders, so confirm the broker permits scalping, news trading, and high-frequency behaviour on the zero account specifically, and whether minimum trade durations or order distance rules apply.

6. Regulation and Operational Quality

An AFS-licensed zero spread account carries ASIC's retail caps (30:1 majors) and negative balance protection; offshore zero-spread offers with 500:1 leverage do not. AUD funding via PayID and Osko and dependable withdrawals complete the checklist.

Which Zero Spread Broker Is Best For Your Strategy?

Match your priorities to the profiles below, then compare the brokers that fit.

How Did Investing.com Choose the Best Zero Spread Brokers?

Our review process evaluates zero spread accounts on what they truly cost and deliver.
  • All-In Cost: We combine commissions with average spreads by pair and session.
  • Zero Coverage: We check how broadly and how often the zero quote actually applies.
  • Execution: We weigh slippage and fill quality, the make-or-break factor for these accounts.
  • Holding Costs: We compare swap rates for anyone keeping positions overnight.
  • Permissions: We verify scalping, news, and EA policies on the specific account type.
  • Trust: We only feature brokers that are properly regulated, prioritising AFS-licensed entities.
For more details, see our Ratings Methodology.

Final Thoughts

Zero spread accounts are a pricing structure, not a discount: you pre-pay the spread as commission and buy pricing precision in exchange. For cost-sensitive, high-frequency styles through an AFS-licensed broker, that trade is often worth making; for occasional traders it mostly adds arithmetic. Verify average spreads, respect slippage as the true spread, and let your trade frequency, not the word "zero", make the decision.
Ready for the next step? Learn how brokers are regulated, sharpen your skills with the Investing.com Education Centre, or unlock premium tools and analysis with InvestingPro.

Frequently Asked Questions

What is a zero spread account?

An account where the broker quotes matching buy and sell prices on eligible pairs, mostly majors in liquid hours, and charges a fixed commission per trade instead of building its margin into the spread. Total cost is commission plus whatever residual spread applies at the moment of trade.

How do zero spread brokers make money?

Primarily through the round-turn commission, plus swaps on overnight positions and spreads on the many instruments and hours where pricing is not actually zero. A legitimate zero spread account has a fully visible business model; treat any claim of costless trading as marketing.

Is a zero spread account cheaper than a regular account?

For active traders on major pairs, usually yes once commission is counted, with the advantage growing with frequency. For occasional traders, a good commission-free standard account is often equivalent or cheaper. Compute all-in cost per lot on your own pairs and volumes; the answer follows.

Are zero spread accounts good for scalping?

They are built for it: precise entries, transparent costs, and tight pricing suit high-frequency styles, which is why permissions matter. Confirm the broker allows scalping on the account, then judge execution statistics, because slippage, not the spread, becomes the cost that matters.

Do spreads on zero accounts ever widen?

Yes, around news, at rollover, in thin sessions, and on anything beyond top pairs, the quoted spread moves above zero. Average spread tables by session tell the real story; the "from 0.0 pips" line tells the best case only.

What leverage comes with zero spread accounts in Australia?

Through AFS-licensed brokers, the same ASIC retail caps as every account: 30:1 on majors with negative balance protection. Offshore brokers pairing zero spreads with extreme leverage sit outside Australian protections, which changes the risk far more than the pricing changes the cost.

Zero spread, raw spread, ECN: what is the difference?

They overlap heavily: raw and ECN accounts pass through near-interbank spreads (often 0.0 to 0.3 pips) plus commission, and zero spread accounts market the same structure with the zero case emphasised. Ignore the label, compare all-in cost and execution; that is the entire comparison.

More Guides

Best Low Spread Forex Brokers in Australia | November 2026Best Forex Brokers in Australia November 2026Best High Leverage Forex and CFD Brokers in Australia | November 2026Best ECN Forex Brokers in Australia | November 2026

Most Popular Reviews

For a comprehensive analysis of each platform’s features, pricing models, and unique selling points, visit our detailed broker reviews:

Plus500
Plus500 Full review
28 Sep 2026•By Investing Editorial
eToro
eToro Full review
07 Sep 2026•By Investing Editorial
Moomoo
Moomoo Full review
07 Sep 2026•By Investing Editorial
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