Raw vs Zero Spread Trading Account Difference
Choosing between a Raw Trading Account and a Zero Spread Account can dramatically impact your trading costs, execution quality, and profitability.
Let’s break down the real differences, hidden costs, and ideal use cases helping you pick the account type that truly matches your strategy.
Keynote
Raw accounts offer true market pricing with ultra-tight variable spreads, while Zero Spread accounts deliver predictable cost structures at the expense of higher commissions or markups. Understanding how each model works ensures smarter decision-making and better long-term trading performance.
Understanding the Core Concept
Raw Trading Account
A Raw Trading Account (also called an ECN Account or Raw Spread Account) provides direct market access with variable spreads taken directly from liquidity providers often starting from 0.0 pips.
Instead of widening the spread, the broker charges a fixed commission per trade (e.g., $3.00–$7.00 per lot per side).
In short:
- Transparent pricing structure.
- Real market spreads (can fluctuate).
- Broker adds a commission.
Zero Spread Trading Account
A Zero Spread Account offers a fixed spread of 0 pips on major currency pairs under normal conditions.
However, the broker usually compensates by increasing the commission or adding markup elsewhere (like swaps or slippage).
In short:
- Fixed spread (0 pip).
- Commission or other costs may be higher.
- Designed for traders who need predictable costs.
Trade with a Regulated Broker
 | 4.8/5 |
IC Markets: ASIC | MT4, MT5, cTrader, TradingView | Raw spreads | True ECN | Low-latency execution | |
Star Rating | 4.8/5 |
Fxview: CySEC | MT4, MT5 | Raw spreads | Dedicated Account Manager | Low-latency ECN routing | |
 | 4.7/5 |
Fusion Markets: ASIC | MT4, MT5, cTrader, TradingView | Raw spreads | Forex VPS | Sub-ms latency via VPS | |
 | 4.8/5 |
BlackBull Markets: FMA, FSA | MT4, MT5, cTrader, TradingView | Raw spreads | True ECN | Ultra-low latency | |
 | 4.8/5 |
TMGM: ASIC | MT4, MT5 | Raw spreads | Low-latency execution | True ECN Broker | Dedicated Acc. Manager | |
 | 4.9/5 |
Fpmarkets : ASIC, CySEC | MT4, MT5, TradingView | Raw spreads | Forex VPS | Sub-ms latency via VPS | |
 | 4.3/5 |
GO Markets : ASIC, CySEC, FSC, | MT4, MT5, TradingView, cTrader, | Raw Spreads | Forex VPS Hosting | Ultra-Low Latency | |
 | 4.7/5 |
Global Prime: ASIC | MT4, MT5 | Raw spreads | True ECN | Low-latency agency execution | |
 | 4.7/5 |
Blueberry Markets: ASIC | MT4, MT5, cTrader, TradingView | Raw spreads | Forex VPS | Low-latency | |
Cost Structure Comparison
| Feature | Raw Trading Account | Zero Spread Account |
|---|---|---|
| Spread | Variable (0.0–0.3 pips typical) | Fixed at 0.0 pips |
| Commission | Charged separately (e.g., $6–$7/lot round turn) | Higher commission or hidden markup |
| Execution Model | ECN / STP (direct to liquidity providers) | Often STP or market maker |
| Best For | Scalpers, algorithmic traders, and professionals who value transparency | Beginners or high-frequency traders who prefer fixed cost planning |
Example of both cases:
EUR/USD trade (1 standard lot = 100,000 units)
| Type | Spread | Commission | Total Cost (approx.) |
|---|---|---|---|
| Raw Account | 0.1 pip (≈ $1) | $7 (round turn) | ≈ $8 |
| Zero Spread Account | 0.0 pip | $10 | ≈ $10 |
➡️ The Raw Account is cheaper in this case, but the Zero Spread Account gives cost predictability (especially useful for EAs using fixed spread logic).
How Execution Differs
Raw Account
- Uses an ECN (Electronic Communications Network) model.
- Trades are matched directly with liquidity providers (banks, hedge funds, etc.).
- No dealing desk involvement.
- Spreads are truly market-driven.
⏱ Execution Speed: Lightning-fast, suitable for scalpers and news traders.
Zero Spread Account
- Can be STP (Straight Through Processing) or a Market Maker setup.
- The broker ensures a “0 spread” environment by offsetting positions or managing internal risk books.
- Prices can be synthetic (not always true interbank quotes).
Note: During high volatility, the spread may widen temporarily, despite being called “Zero Spread”
Best ECN Forex Brokers
Fusion MarketsSince: 2017 | Offices:Australia, Vanuatu |
| |
| Minimum Deposit: | $1 |
| Account currency: | USD, EUR, GBP, AUD, JPY, SGD, THB, and CAD |
| Leverage: | Up to 1:500 |
| Accounts: | Zero, Classic, Demo, Swap Free [Islamic] |
| Instruments Offered: | Forex, Indices, Commodities, Metals, Energies, Shares, Cryptocurrencies |
| Trading Platform: | MT4, MT5, TradingView, cTrader, DupliTrade | Free VPS Hosting |
| Regulation: | ASIC, VFSC |
| Spreads | Raw Spreads + Tight spreads on other CFDs |
| Key Features | Extremely low trading costs, no dealing desk, great customer support, flexible leverage |
| Visit Broker | Broker Review |
FxviewSince: 2009 | Offices:EU, South Africa |
| |
| Minimum Deposit: | $50 |
| Account currency: | EUR, USD, GBP, CAD, ZAR & AUD |
| Leverage: | Up to 1:1000 |
| Accounts: | RAW ECN | Premium ECN | Swap free/ Islamic Account |
| Instruments Offered: | Forex, Indices, Metals, Energies, Shares , Cryptocurrencies |
| Trading Platform: | MT 4 (EU), MT 5 (Global), ZuluTrade and ActTrader | Free VPS hosting |
| Regulation: | CySEC, FSCA and FSC |
| Spreads: | From 0.0 pips |
| Key Features: | Ultra-tight Spreads | Fast Withdrawals | Dedicated Account Manager |
| Visit Broker | Broker Review |
IC MarketsSince: 2007 | Offices:Australia, Cyprus, Seychelles |
| |
| Minimum Deposit: | 200 US dollars |
| Account currency: | Multiple base currencies |
| Leverage: | From 1:1 to 1:500 |
| Accounts: | Demo, Raw Spread, cTrader, Standard, Islamic, PAMM |
| Instruments Offered: | Forex, Indices, Commodities, Metals, Energies, Shares, Bonds Cryptocurrencies |
| Trading Platform: | cTrader, MT4, MT5, TradingView | Free VPS hosting |
| Regulation: | ASIC, CySEC, FSA |
| Spreads | Raw Spread 0.0 pips (cTrader, TradingView MT4/5) Standard 0.8 pips |
| Key Features | Ultra-fast Execution, TradingView , Copy trading, Dedicated Account Manager |
| Visit Broker | Broker Review |
Practical Analogy to Remember
Think of both accounts like buying gold jewelry:
- 🟩 Raw Account: You buy gold by weight at market price, then pay a small jeweler’s fee (commission). Transparent and fair.
- 🟦 Zero Spread Account: The jeweler says “no fee on gold,” but adds profit elsewhere, such as a slightly higher making charge.
Same gold, different pricing structure.
Visual Mnemonic (Memory Trick)
RAW = Real Access With commission
ZERO = Zero visible spread, but hidden cost
This simple acronym helps you instantly recall their difference:
| Term | Meaning |
|---|---|
| R.A.W. | Real Access With commission |
| Z.E.R.O. | Zero Entry Rate Offered (but costs elsewhere) |
How to Choose Between Them
| Trading Style | Recommended Account Type | Why |
|---|---|---|
| Scalping / EA Trading | Raw Account | Lowest latency, true market pricing, tighter variable spreads |
| Manual Day Trading | Zero Spread Account | Simple to calculate, easy to set stop losses and targets |
| Swing / Position Trading | Raw Account | More cost-effective over long-term holding |
| Beginner Trader | Zero Spread Account | Easier to predict cost and understand trade impact |
Common Misconceptions
| Misconception | Reality |
|---|---|
| “Zero Spread = Cheapest Account” | Not always total cost (spread + commission) matters more. |
| “Raw Accounts are for pros only” | Even beginners benefit from transparent pricing. |
| “Zero Spread means no slippage” | False, slippage can occur regardless of spread. |
| “Raw Accounts are riskier” | No, they’re just more market-transparent. |
Quick Summary
| Factor | Raw Trading Account | Zero Spread Account |
|---|---|---|
| Spread Type | Variable (starts from 0.0) | Fixed (0 pip) |
| Commission | Separate, usually lower | Higher or hidden |
| Transparency | High (true market data) | Medium |
| Execution | ECN / STP | STP / Market Maker |
| Volatility Handling | Natural widening | Sometimes artificial |
| Ideal User | Professional or algorithmic traders | Beginners or cost planners |
CFD Trading Accounts
Trading Account Brokers Comparison Table
| Broker | EUR/USD Spread (Raw/ECN account) | Commission per lot (round turn) | Regulators | Platforms Offered |
| FP Markets | From ~ 0.0 pips (“Raw” account) | ~ USD 6 round-turn per lot (USD 3 per side) | ASIC (Australia), CySEC (EU), CMA (Kenya) & FSCA (S. Africa), | MT4, MT5, cTrader |
| Fusion Markets | From ~ 0.0 pips on ZERO account (“raw spreads”) | USD 4.50 round-turn (USD 2.25 per side) | ASIC (Australia) & Vanuatu/Seychelles | MT4, MT5, cTrader, TradingView |
| IC Markets | Spreads from 0.0 pips (“Raw Spread” account) | ~ USD 7 round-turn (USD 3.50 per side) or USD 6.50 depending on base currency | CySEC (EU) & ASIC (Australia) | MT4, MT5, cTrader |
| Vantage Markets | Spreads from ~ 0.0 pips (Raw ECN) | USD 6 round-turn per lot (Raw ECN) | ASIC (Australia), FCA (UK) & FSC of (Mauritius) | MT4, MT5, ProTrader |
| Global Prime | Spread ~ 0.14 pips (Raw account) | USD 7 round-turn per lot for Raw account (per USD base) | ASIC (Australia) & FSA (Seychelles) | MT4, MT5 |
| BlackBull Markets | Spreads from 0.0 pips in “ECN Prime” account | USD 3 per side (≈ USD 6 round-turn) in ECN Prime | FMA (New Zealand) & FSA (Seychelles) | MT4, MT5 |
Final Takeaway
- If you want true ECN execution and the lowest possible cost in volatile conditions → choose Raw Account.
- If you prefer cost certainty and easy trade management (especially for fixed-spread EAs or manual trading) → go for Zero Spread Account.
Both can be excellent depending on your trading goals, strategy, and experience.
ECN Trading Brokers – CFD Brokers List
Choosing the correct ECN Trading Broker for trading is critical to your trading journey, there are many factors you should take into consideration specifically for ECN trading before settling with the broker you may be trading with or when switching to a new choice broker which is best suited to your needs and factors which are important to you personally.
Get the list of the Best CFD Trading Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution With ECN Brokers
Broker | Regulators | Max. Leverage | Spreads | Trading Acc. | Instruments | Connect |
 | ASIC, CySEC | Up to 1:500* | From 0.0 pips | Broker Type: STP | ECN | DMA 2 Accounts | Forex, Indices, | |
 | ASIC, VFSC | Up to 1:500 | From 0.0 pips | Broker Type: ECN 4 Accounts | Forex, Indices, | |
 | AFSL, ASIC, CySEC, FSA | Up to 1:500 | From 0.0 pips | Broker Type: | Forex, Indices, Commodities, Metals, Energies, Shares, Crypto | |
 | ASIC, VFSC, CMA, FSC | Up to 1:1000 | From 0.0 pips | Broker Type: True ECN 2 Accounts | Forex, Indices, | |
| | ASIC, VFSC | Up to 1:500 | From 0.0 pips | Broker Type: 2 Accounts | Forex, Indices, Commodities, Metals, Crypto, Shares & Bonds CFDs | |
 | CySEC, FSCA and FSC | Up to 1:1000 | From 0.0 pips | Broker Type: ECN | STP 3 Accounts | Forex, Indices, Commodities, Metals, Energies, Shares, Crypto | |
 | ASIC, FSC, FSCA, FSA | Up to 1:1000 | From 0 pips | Broker Type: ECN | STP 2 Accounts | Forex, Indices, Commodities, Metals, Energies, Shares, Crypto, ETFs | |
 | CIMA, ASIC, FCA | Up to 1:500* | From 0.4 pips | Broker Type: ECN | STP 4 Accounts | Forex, Indices, Metals, Energies, Shares, Crypto | |
 | FCA, SCA, ASIC,FSCA, FSC, FSA | Up to 1:1000* | From 0.0 pips | Broker Type: ECN | STP 5 Accounts | Forex, Indices, Metals, Energies, Shares, Crypto | |
 | HCMC / ESMA | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 2 Accounts | Forex, Indices, Commodities, Metals, Shares CFDs, Crypto | |
 | CySEC, FSC, FSCA, ASIC | Up to 1:3000 | From 1 pip | Broker Type: ECN | STP 6 Accounts | Forex, Indices, | |
 | FMA, FSA | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 6 Accounts | Forex, Indices, | |
 | ASIC, BaFin, CIMA, UAE VARA/SCA | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 3 Accounts | Forex, Indices, Commodities, Metals, Energies, Shares, Crypto | |
 | ASIC,VFSC, FSC | Up to 1:500 | From 0.0 pips | Broker Type: ECN | MM 2 Accounts | Forex, Indices, | |
 | ASIC, CySEC, FSC | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 2 Accounts | Forex, Metals, Commodities, Shares, Crypto, Bonds | |
 | CySEC, FSC, FSCA | Up to 1:2000 | From 0.0 pips | Broker Type: ECN | STP 4 Accounts | Forex, Indices, | |
 | CySEC, FCA, FSCA | Up to 1:1000 | From 0.0 pips | Broker Type: ECN | STP 5 Accounts | Forex, Indices, | |
 | AFSA, FSCA, MISA | Up to 1:1000 | From 0.0 pip | Broker Type: ECN | STP 4 Accounts | Forex, Metals, Indices, Commodities, Stocks, Crypto | |
 | FCA, FSA | Up to 1:500* | From 0.0 pips | Broker Type: ECN 2 Accounts | Forex, Indices, | |
 | ASIC, FSC, FSCA | Up to 1:1000 | From 0.0 pips | Broker Type: ECN | STP 3 Accounts | Forex, Metals, Indices, Commodities, Equities, Crypto | |
 | SVGFSA, FSC, FSA | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 3 Accounts | Forex, Indices, | |
 | FCA, ASIC, SCA, FMA, FSC, FSA | Up to 1:500 | From 0.0 pip | Broker Type: ECN | STP 2 Accounts | Forex, Indices, Commodities, Metals, Crypto | |
 | ASIC, FSA | Up to 1:500 | From 0.0 pip | Broker Type: ECN | STP 3 Accounts | Forex, Indices, Commodities, Metals, Crypto | |
 | FCA, ASIC, CySEC, FSA | Up to 1:500 | From 0.0 pips | Broker Type: ECN | STP 6 Accounts | Forex, Indices, | |
 | CySEC, MISA | Up to 1:1000 | From 0.0 pip | Broker Type: ECN | STP 1 Accounts | Forex, Metals, Commodities, Indices, Equities, Crypto | |
 | FSC | Up to 1:2000 | From 0.0 pips | Broker Type: ECN | STP | MM 5 Accounts | Forex, Indices, | |
 | BVI FSC | Up to 1:1000 | From 0.0 pips | Broker Type: MM | ECN 6 Accounts | Forex, Indices, Commodities, Metals, Shares CFDs | |
 | CySEC, FSA, FSCA, VFSC | Up to 1:2000 | From 0.0 pips | Broker Type: STP | ECN 6 Accounts | Forex, Indices, | |
 | FSC , FSRA | Up to 1:3000 | From 0.0 pip | Broker Type: ECN | STP 3 Accounts | Forex, Metals, Indices, Crypto, Stocks CFDs | |
 | ASIC, VFSC, CySEC, FCA | Up to 1:500 | From 0.0 pip | Broker Type: ECN | STP 2 Accounts | Forex, Indices, | |
 | FINMA | Up to 1:100 | From 0.1 pip | Broker Type: ECN | STP 7 Accounts | Forex, Indices, | |
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Kevin George is an active trader of stocks, forex, commodities and crypto with over 15 years of market experience. He hold a master's degree in finance and mix microeconomic studies of company financials with a big-picture macroeconomic view.
Kevin earned a bachelor's degree from Robert Gordons University in Scotland. He returned later to earn his master's degree in finance.
Kevin has written for investopedia, Seekingalpha with his resume on Muckrack and LinkedIn