We have tested broker platforms, analysed average spreads on major currency pairs, and reviewed client accessibility to provide the 7 best low spread Forex brokers in Ghana, helping traders choose regulated options with minimal trading costs and transparent execution.
You will learn:
- What are low spread Forex brokers for traders in Ghana
- 7 best low spread Forex brokers in Ghana
- Hidden costs beyond spreads
- Our final thoughts
- Frequently asked questions
Let’s get started…
5 Best Forex Brokers in Ghana
Rank | Broker | Review | Regulators | Min Deposit | Official Site |
🥇 |  | Read Review | CBCS, FSA, FSC, FSCA, CMA | $10 | Visit Broker |
🥈 |  | Read Review | ASIC, CySEC, IFSC, DFSA, FCA | $5 | Visit Broker |
🥉 |  | Read Review | FSC, ASIC, CySEC | $5 | Visit Broker |
#4 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | $100 | Visit Broker |
#5 |  | Read Review | FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine | $0 | Visit Broker |
7 Best Low Spread Forex Brokers in Ghana – Comparison
| 🥇 Broker Trading App | 👉 Open An Account | 💸 Minimum Deposit ($/GHS) | 💱 Ghanaian Cedi-Based Account? | 💳 GHS Deposits Allowed? |
| 1. Pepperstone | 👉 Open Account | $0 (₵0) | No | No |
| 2. Exness | 👉 Open Account | None (₵0) | Yes | Yes |
| 3. XM | 👉 Open Account | $5 (₵82) | No | Indirectly |
| 4. FXTM | 👉 Open Account | $200 (₵3,280) | No | Possibly via conversion |
| 5. HFM | 👉 Open Account | $0 (₵0) | No | Not specified |
| 6. AvaTrade | 👉 Open Account | $100 (₵1,640) | No | No |
| 7. FP Markets | 👉 Open Account | $100 (₵1,640) | No | No |
What are low spread Forex brokers for traders in Ghana?
One factor that consistently shapes trading costs for traders in Ghana is the spread. A “low spread” broker narrows the gap between the bid and ask price, reducing how much traders pay to enter and exit positions.
While this may seem like a technical detail, in practice it directly influences profitability, especially for those trading frequently or using short-term strategies.
We found that low spreads are often paired with either commission-based accounts or standard accounts where costs are built into slightly higher spreads. Understanding this balance is crucial.
A raw spread account might quote near-zero pips on EUR/USD but charge a fixed commission per trade, whereas a standard account avoids commissions but carries wider spreads. Traders in Ghana must consider which structure suits their style and deposit level.
Ultimately, low spread trading is about minimising costs without compromising trust or accessibility. For traders in Ghana, evaluating spreads alongside funding options, platform stability, and regulatory protection provides the clearest path to selecting brokers that truly deliver value.
7 Best low spread Forex brokers in Ghana
- Pepperstone: Tight spreads, fast execution, multiple platforms, low-cost accounts for traders.
- Exness: Very low spreads with cedi accounts and transparent pricing.
- XM: Accessible low spreads with micro accounts for beginner traders.
- FXTM: Flexible low-spread accounts with commission options and multiple trading types.
- HFM: Zero/low spread accounts with swap-free options and scalable trading.
- AvaTrade: Transparent spreads with multi-asset access and reliable execution platforms.
- FP Markets: True ECN spreads with multi-asset support and fast execution.
1. Pepperstone
 | Minimum Deposit: $0 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Leverage: Up to 1:500 |
Overview
For traders in Ghana, Pepperstone presents razor-style pricing where major pairs such as EUR/USD start from 0.0 pips (plus commission) under its Razor account.
Their transparent pricing structure and real-time spread display give us confidence that Ghanaian clients are not hidden behind inflated markups.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC (Australia), FCA (UK), CySEC (Cyprus), CMA (Kenya), DFSA (Dubai) |
| 📊 Trading Accounts | Standard (spread-only), Razor (raw-spread + commission) |
| 💻 Trading Platform | MetaTrader 4 & MetaTrader 5 (desktop, web, mobile) |
| 💳 Minimum Deposit ($/₵) | None (₵0) – trade with any amount |
| 📈 Trading Assets | 1,200+ CFDs: Forex, indices, commodities, shares, ETFs, crypto |
| 📊 Ghanaian Cedi-based Account? | No |
| 💳 GHS Deposits Allowed? | No (funding in USD, EUR, GBP; local mobile money not supported) |
| 💰 Bonuses for Ghanaian Traders | Occasional rebates/Active Trader program (not region-specific) |
| 📈 Minimum Spread | From 0.0 pips (Razor account) |
| 🧪 Demo Account | Yes |
| ☪️ Islamic Account | Available (swap-free) |
| 🚀 Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Full MT4 & MT5 support with algorithmic trading and raw-spread access | No GHS base currency account; currency conversion required |
| True ECN pricing with zero-pip spreads (Razor) and tight execution on MT4/MT5 | Higher minimum funding recommendations for serious traders |
| Wide instrument range (Forex, shares, crypto, ETFs) on both platforms | Local mobile-money deposit options for Ghana are limited |
| Strong global regulation enhances trust and transparency | Regional customer service centre for Ghana is not dedicated |
| VPS hosting, CopyTrading and advanced tools available for high-volume traders | Demo expiry and rigid tier conditions may affect smaller traders |
Frequently Asked Questions
How will Pepperstone convert GHS deposits or withdrawals?
Pepperstone doesn’t support direct Ghana cedi accounts. When you deposit or withdraw in GHS, the funds must first convert into a supported major currency. The conversion is handled by your bank or payment processor, which may include a small markup.
Will I see the Razor spreads live before I open a trade?
Yes, Pepperstone publishes live, real-time spreads on its trading platform so you can gauge whether the prevailing spread is acceptable before entering the trade.
2. Exness
| Minimum Deposit: $10 Regulated by: CBCS, FSA, FSC, FSCA, CMA Leverage: Up to 1:2000 |
Overview
In our assessment of Exness, its tight and stable spreads immediately stood out, especially for major forex pairs like EUR/USD, where spreads can hit 0.0 pips (plus commission) under professional accounts.
Because Exness supports Ghanaian cedi currency options for account denomination in some cases, Ghanaian traders benefit from fewer currency conversion costs.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles) |
| 📊 Trading Accounts | Standard, Raw Spread, Zero, Pro, Demo, Islamic |
| 💻 Trading Platform | MetaTrader 4 & MetaTrader 5 (desktop, web, mobile) |
| 💳 Minimum Deposit ($/GHS) | $1 (₵16) |
| 📈 Trading Assets | Forex, metals, crypto, energies, indices, stocks |
| 📊 Ghanaian Cedi-based Account? | Yes |
| 💳 Local Deposits Allowed | Yes (mobile money, bank transfer, fintech apps) |
| 💰 Bonuses for Ghanaian traders | Occasional regional promotions |
| 📈 Minimum spread | From 0.0 pips (Raw Spread Account) |
| 📈 Demo Account | Yes |
| ☪️ Islamic Account | Available (swap-free) |
| 🧩 Platform Tools | Expert Advisors, hedging & netting, Depth of Market (MT5), one-click trading, multi-chart view |
| 🚀 Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Ultra-low spreads from 0.0 pips on ECN-style accounts | No proprietary trading app beyond MT4/MT5 |
| Fast order execution and stable servers ideal for scalping and EAs | Leverage and margin conditions vary by region |
| Supports Expert Advisors, copy trading, and automated strategies | No fixed spread account option |
| Regulated by multiple top-tier bodies (FCA, CySEC, FSCA) | Advanced tools like DOM are MT5-only |
| Instant deposits and withdrawals, including Ghana mobile money | Customer support not yet Ghana-based |
| Wide asset range including Forex, metals, crypto, and stocks | Some promotions restricted by region |
Frequently Asked Questions
Can I open an Exness account directly in Ghanaian cedis (GHS)?
Yes, Ghanaian traders have the option to open a cedi-denominated account in some regions, reducing the currency conversion cost for deposits and withdrawals.
What is the minimum deposit for Raw Spread or Zero accounts in Ghana?
For professional (Raw/Zero) account types, the minimum deposit tends to be higher (often ~$200 depending on region) compared to standard accounts.
3. XM
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Overview
XM’s value lies in making low spreads accessible even to entry-level traders. Their stated spreads start from 0.8 pips on many major pairs with “zero hidden costs,” which suits Ghanaian traders aiming for predictability in their trading expenses.
While XM is not locally regulated in Ghana, it supports ultra-low minimum deposits (just $5) which lowers entry barriers for Ghanaian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSC (Belize), ASIC (Australia), CySEC (Cyprus) |
| 📊 Trading Accounts | Standard, Ultra Low, Shares, Demo, Islamic |
| 💻 Trading Platform | MetaTrader 4 & MetaTrader 5 (desktop, web, mobile), XM App |
| 💳 Minimum Deposit ($/₵) | $5 (₵82) |
| 📈 Trading Assets | Forex, indices, stocks, metals, energies, crypto |
| 📊 Ghanaian Cedi-based Account? | No |
| 💳 Local Deposits Allowed? | Indirectly via conversion (cards, e-wallets) |
| 💰 Bonuses for Ghanaian Traders | Global promotions may apply |
| 📊 Minimum Spread | From ~0.8 pips (on certain account types) |
| 🧪 Demo Account | Yes |
| ☪️ Islamic Account | Available on request |
| 🚀 Sign Up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Very low $5 minimum deposit makes MT4/MT5 accessible for Ghanaian traders | No Ghanaian cedi-based account option |
| Supports MT4 & MT5 with full EA and custom script support | Deposit currency conversion needed due to no GHS base currency |
| Wide asset range (forex, stocks, metals, crypto) diversifies trading opportunities | Spreads on non-Ultra accounts may be higher than top ECN brokers |
| Beginner-friendly interface with educational tools and webinars | Mobile money/local bank deposit methods may be limited for Ghana |
| Reliable execution and global regulation build trust for Ghana clients | Bonuses/promotions may exclude Ghana or have region limitations |
Frequently Asked Questions
Does XM widen spread when a trader switches to a Swap-Free (Islamic) account?
No, XM explicitly maintains the same spread conditions when converting to a swap-free account, avoiding hidden markups.
Will my spread always remain at 0.8 pips?
Not necessarily, 0.8 pips is the advertised starting spread under favorable market conditions on certain account types. In volatile periods or less liquid sessions, spreads may vary.
4. FXTM
 | Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
Overview
With FXTM, the possibility of 0.0 pips on major pairs in certain account types caught our eye as a compelling opportunity for cost-conscious traders in Ghana.
Their promotional language states “commission-free and spreads from 0.0” for eligible accounts. That said, the zero-spread access is not universal; for many traders, standard or “Advantage Plus” accounts come with floating spreads (e.g. ~1.5 pips or more) where the broker markup plays a role.
We see this dual structure as a pragmatic design: those who trade larger volume or actively can aim for tighter spreads, while smaller or casual traders still enjoy service albeit at higher spread cost.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa) |
| 💼 Trading Accounts | Micro, Advantage, Advantage Plus, Demo, Islamic |
| 💻 Trading Platform | MT4, MT5, FXTM Trader app |
| 💳 Minimum Deposit ($/GHS) | $10 (₵164) |
| 📈 Trading Assets | Forex, metals, indices, commodities, shares, crypto CFDs |
| 💱 Ghanaian Cedi-based Account? | No |
| 💵 Local Deposits Allowed? | Yes (cards, local bank transfers, e-wallets) |
| 🎁 Bonuses for Ghanaian Traders | Available (promotion-dependent) |
| 📊 Minimum Spread | From 0.0 pips (Advantage account) |
| 🧪 Demo Account | Yes |
| ☪️ Islamic Account | Available |
| 🚀 Sign Up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Low minimum deposit suitable for Ghanaian beginners | No GHS-denominated trading accounts |
| Tight spreads with ECN-style execution | Higher commission fees on Advantage account |
| Strong regulation in multiple jurisdictions | Withdrawal fees on some payment methods |
| Fast mobile app with in-built trade management tools | Limited number of crypto CFDs |
| Local deposit methods for Ghanaians | Customer support not 24/7 |
Frequently Asked Questions
Can I actually fund my FXTM account directly in Ghanaian cedis to preserve low spreads?
Funds typically convert into supported base currencies, possibly incurring conversion costs.
Will the spreads stay ultra-tight during news events or volatile sessions?
No, like all brokers, FXTM spreads may widen during high volatility, low liquidity, or major news announcements, even on low-spread accounts.
5. HFM
| Minimum Deposit: $0 Regulated by: FCA, FSA, DFSA, FSCA, CMA Leverage: Up to 1:1000 |
Overview
HFM’s “Zero Spread” account claims particularly compelling: on some major pairs like EUR/USD, the typical quoted “zero spread” is around 0.1 pip (plus commission) under favorable conditions.
However, in its standard (commission-free) accounts, spreads are floating and often lie around 1.2 pips or more for EUR/USD depending on market volatility.
Overall, HFM gives a hybrid path: low-spread potential for active traders, with more accessible but costlier spreads in standard usage.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA (South Africa), FCA (UK), CySEC (Cyprus), FSA (Seychelles) |
| 💼 Trading Accounts | Micro, Premium, Zero, Pro, Demo, Islamic |
| 💻 Trading Platform | MT4, MT5, HFM App |
| 💳 Minimum Deposit ($/GHS) | $5 (₵82) |
| 📈 Trading Assets | Forex, stocks, indices, metals, energies, bonds, ETFs |
| 💱 Ghanaian Cedi-based Account? | No |
| 💵 Local Deposits Allowed? | Yes (bank transfers, cards, fintech e-wallets) |
| 🎁 Bonuses for Ghanaian Traders | Yes (welcome and loyalty bonuses) |
| 📊 Minimum Spread | From 0.0 pips (Zero account) |
| 🧪 Demo Account | Yes |
| ☪️ Islamic Account | Available |
| 🚀 Sign Up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Tight ECN spreads from 0.0 pips | No GHS-based accounts |
| Strong multi-jurisdiction regulation (FSCA, FCA, CySEC) | Some accounts require higher deposits for best spreads |
| Offers copy trading and PAMM accounts | Withdrawal times may vary by method |
| Low $5 minimum deposit for beginners | Limited crypto assets |
| Excellent educational and analytical tools on HFM App | Promotions vary by region |
Frequently Asked Questions
Can I trade with HFM in Ghana using a zero-spread account?
Yes, HFM’s Zero Spread account allows Ghanaian traders to access ultra-tight spreads (~0.0–0.1 pips) plus commission on major pairs, ideal for scalping or high-frequency strategies.
Does HFM support Islamic (swap-free) accounts for Ghanaian traders?
Yes, HFM offers swap-free (Islamic) accounts, allowing compliant trading while maintaining access to spreads and execution features.
6. AvaTrade
| Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Leverage: Up to 1:400 |
Overview
Though not regulated by Ghana’s Bank of Ghana, AvaTrade explicitly states that it welcomes Ghanaian traders via its global regulatory entities, giving them access to its spread offerings.
For Ghanaian traders, the lack of local currency (GHS) account support means that spreads benefit is partly offset by conversion costs. Still, for those trading major pairs, the quoted spreads remain appealing when paired with strong execution and platform reliability.
We noticed AvaTrade’s transparent approach to spread quoting is reassuring: spreads are published clearly, and clients can see live spreads before placing trades.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland, ASIC (Australia), FSCA (South Africa), FSA (Japan), ADGM (UAE) |
| 📊 Trading Accounts | Standard, Professional, Islamic, Demo |
| 💻 Trading Platform | MetaTrader 4 & MetaTrader 5 (desktop, web, mobile), AvaTradeGO app |
| 💳 Minimum Deposit ($/₵) | $100 (₵1,640) |
| 📈 Trading Assets | Forex, indices, stocks, commodities, crypto CFDs, ETFs, options |
| 📊 Ghanaian Cedi-based Account? | No |
| 💳 Ghanaian Deposits Allowed? | Yes (cards, e-wallets; mobile money not clearly supported) |
| 💰 Bonuses for Ghanaian Traders | Yes (subject to regional promotions) |
| 📊 Minimum Spread | From ~0.9 pips (on FX) :contentReference[oaicite:1]{index=1} |
| 🧪 Demo Account | Yes :contentReference[oaicite:2]{index=2} |
| ☪️ Islamic Account | Available :contentReference[oaicite:3]{index=3} |
| 🚀 Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Wide access to MT4 & MT5 trading platforms for Ghanaian users | No Ghanaian cedi-based trading account; currency conversion required |
| Globally regulated broker across multiple jurisdictions—adds trust | Mobile money deposits for Ghana not clearly supported :contentReference[oaicite:4]{index=4} |
| Supports algorithmic trading, EAs, custom indicators under MT5 :contentReference[oaicite:5]{index=5} | Minimum deposit ($100) may be higher for beginner Ghanaian traders |
| Swap-free (Islamic) accounts available for Muslim traders in Ghana:contentReference[oaicite:6]{index=6} | Spreads are slightly wider than pure ECN brokers |
| Demo accounts and educational resources support Ghanaian beginners | Some features (e.g., local bank/fintech integrations) may lack Ghana-specific clarity |
Frequently Asked Questions
Are there promotions or bonuses targeted at Ghanaian traders?
Occasionally, yes — AvaTrade runs global or regionally tailored promotions, and Ghanaian clients may access some bonus offers.
Can Ghanaian clients see live spreads before placing trades?
Yes, AvaTrade provides live spread data across its platforms so traders can review the spread environment before executing orders.
7. FP Markets
 | Minimum Deposit: $100 AUD Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Leverage: Up to 1:500 |
Overview
FP Markers offer of spreads “as low as 0.0 pips” on major forex pairs truly stands out. Their ECN / Raw account models are designed to deliver near-interbank pricing, which appeals to Ghanaian traders seeking to minimize cost per trade.
Even on their “Standard” account, they maintain competitive pricing, though with built-in spread margins.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC (Australia), CySEC (Cyprus), FSCA (South Africa) |
| 📊 Trading Accounts | Standard, Raw, Demo, Islamic |
| 💻 Trading Platform | MetaTrader 4 & MetaTrader 5 (desktop, web, mobile) |
| 💳 Minimum Deposit ($/₵) | $100 (₵1,640) |
| 📈 Trading Assets | Forex, indices, commodities, stocks, crypto CFDs, 10,000+ instruments |
| 📊 Ghanaian Cedi-based Account? | No |
| 💳 Local Deposits Allowed? | Yes (cards, e-wallets; mobile money not clearly supported) |
| 💰 Bonuses for Ghanaian Traders | None clearly specified |
| 📊 Minimum Spread | From 0.0 pips (Raw account) |
| 🧪 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🚀 Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| True ECN-style spreads from 0.0 pips benefit high-volume Ghanaian traders | No Ghanaian cedi-denominated accounts; currency conversion necessary |
| Supports MT4 & MT5 platforms including advanced tools like DOM and EAs | Local Ghana-specific funding methods (mobile money) are unclear |
| Very broad asset coverage (10,000+ instruments) enables wide diversification | Longer onboarding or verification delays noted in some cases |
| Strong regulation (ASIC, CySEC, FSCA) adds trust for Ghana‐based clients | Inactivity fees may apply after six months of non-use |
| Provides free educational resources and full platform tutorials for Ghanaian traders | Some advanced features or plug-ins may require higher deposits |
Frequently Asked Questions
Are the “0.0 pips” spreads on FP Markets always available?
No, the 0.0 pips spreads apply under high liquidity conditions on the Raw/ECN account. During news events, weekends close to open, or low volume periods, spreads can widen.
Can Ghanaian traders test real spreads before depositing?
Yes, FP Markets offers demo accounts where you can simulate live market spreads.
Hidden Costs Beyond Spreads
For traders in Ghana, focusing only on the headline spread can be misleading. Even when a broker offers very tight spreads, other charges can quietly eat into profits.
Swap fees can accumulate quickly, particularly for swing traders. Inactivity fees are another overlooked cost, where accounts left idle for a few months may be charged, reducing capital even when no trades are made.
Most importantly, Ghanaian traders face currency conversion costs. Since few brokers support Ghanaian cedi accounts, deposits in GHS are often converted into USD or EUR, with banks or payment providers adding a hidden margin.
This means that the advantage of a 0.1-pip spread may be partly cancelled by conversion charges on deposits and withdrawals.
Our Final Thoughts
Low spread brokers provide Ghanaian traders with genuine opportunities to cut costs and trade more efficiently, but the benefits are not without limits. We found brokers that deliver spreads close to zero under certain conditions, which is ideal for active strategies.
But we also noted that access to the lowest spreads often requires larger deposits or commission-based accounts that may not suit every budget. Traders in Ghana face additional challenges in the absence of cedi-based accounts and direct local funding, meaning conversion fees can offset some of the savings from tight spreads.
On the positive side, leading brokers combine their competitive pricing with strong international regulation, ensuring transparency and oversight.
The key takeaway from our review is that choosing a low spread broker in Ghana is about balancing cost advantages with accessibility, funding convenience, and account type suitability for individual trading styles.
Frequently Asked Questions
Can Ghanaian traders access brokers that advertise 0.0 pip spreads?
Yes, many global brokers claiming 0.0 pip spreads accept clients from Ghana, though the 0.0 value usually applies under ideal market conditions and is often paired with commission.
Do low spreads ever widen under certain conditions?
Yes, during news events, low liquidity hours, or market volatility, even the tightest spreads may widen.
Is trading volume required to get low spreads?
Often yes, some brokers reserve their lowest spreads for accounts with higher volume or more capital deposited.
How do currency conversion costs affect low spread benefits in Ghana?
If your deposit or trading base is Ghanaian cedi (GHS), conversion into the broker’s base currency can eat into the savings from tight spreads.
Are there extra fees hidden behind low spreads (e.g. commissions)?
Yes, many low spread offers pair the tight spread with a fixed commission per lot, so the true cost equals spread + commission.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.