Low Commission Forex Brokers

No trader in the world wants to pay exorbitant fees when trading. While most forex brokers are compensated mainly via spreads, some brokers also offer accounts with minimal spreads and instead charge a small commission. Today, we will be looking at the best low-commission forex brokers.

Pepperstone

Pepperstone is a forex and CFD broker that gives traders access to over 1,200 trading instruments. Clients can instruments from the forex, shares, indices, ETFs, commodities, cryptocurrency and currency indices markets. This is an excellent collection of assets for both experienced and beginner traders. 

Forex commissions on Pepperstone are only charged on the Razor account, spreads here start from 0,0 pips. The commission on this account are very low but they slightly differ depending on the base currency and the trading platform a trader is using. For example, the commission per lot is USD 3.50 per side for clients using the US Dollar as the base currency. In contrast, it is EUR 2.60 per side for clients using the Euro as the base currency. This is on the MT4 and MT5 trading platforms. For TradingView it is $3.5 per side per lot and for cTrader it is $3.0 per side per lot. 

The trading platforms available to clients on Pepperstone include MT4, MT5, TradingView and cTrader. MT4 and MT5 are easily recommendable to all kinds of traders. They have a variety of charting tools and fast execution. However, the company says that the cTrader platform is perfect for clients just getting into trading. It is an intuitive platform that is easy to use with advanced order capabilities and customization. Having a selection of platforms is great. Traders can pick and choose the platform that best suits their needs.

We will now look at the regulation status of Pepperstone. The company has regulations from three top-tier regulators. The company is regulated by the FCA in the UK, the CySEC in Cyprus, BaFin in Germany, and ASIC in Australia.

75.9% of retail CFD accounts lose money

FP Markets

FP Markets also allows clients to trade on a low-spread account featuring a low commission. There are two main accounts on FP Markets, the Standard account, and the Raw account. The Raw account allows users to trade with spreads starting from 0.0 pips and a low commission fee. The commission on this account is $3 per side per lot. Clients can diversify their portfolios by investing in trading instruments from various markets. They can trade instruments from the currency pairs, metals, indices, cryptocurrency and stock markets. In total, there are about 10,000 CFDs available for trading. The minimum opening balance on this account is 100 USD or equivalent.

FP Markets also provides clients with some of the best trading platforms in the world. Clients can access the MetaTrader 4 and 5 platforms alongside the Iress Trader, TradingView, cTrader and WebTrader. These are powerful and intuitive platforms. Additionally, they have fast execution times. In terms of regulations, this company has regulatory licenses from two of the best regulators in the market. These are the CySEC in Cyprus and the ASIC in Australia. These tier-1 regulations show that FP Markets is committed to operating within legal bounds.

72.92% of retail CFD accounts lose money

Forex.com

Forex.com is one of the biggest forex brokers in the world by numbers. The company has been empowering traders in the markets since 2001. Forex.com vows to offer clients the best prices in the market. There are three main trading accounts on Forex.com with different spreads and commissions. These include the standard account, the commission account, and the STP Pro account. The standard account does not require clients to pay a commission when trading. However, the Commission and STP Pro accounts require clients to pay a commission when trading. The spreads on these accounts are very low, starting at 0.2 pips for the Commission account and 0.1 for the STP Pro account. The commission on the Commission account is $5 per 100K and $80 per million on the STP Pro account.

Clients can trade here CFDs on forex, indices, stocks, commodities, and cryptocurrencies. This variety of trading instruments allows clients to diversify their portfolios and spreads their risk of investment. This is attractive to all kinds of traders. Furthermore, Forex.com provides one of the best trading platforms to its clients.  With MetaTrader 4, clients have access to a robust and intuitive platform. The platform executes trades quickly, ensuring traders do not miss out on trades. A few milliseconds can mean everything when trading. Forex.com also has regulations from numerous regulators. They include the CFTC and the NFA in the USA, the FCA in the UK, the IIROC in Canada, and the ASIC in Australia, among others.

74-76% of retail investor accounts lose money when trading CFDs with this provider.

FXTM

FXTM operates on three main account types, the Micro, Advantage, and Advantage Plus accounts. The primary fee on the Micro and Advantage Plus accounts is the spreads. However, the Advantage account allows clients to trade with spreads starting from 0.0 pips while paying a commission on each trade. The commission fees for this account is $3.5 per lot traded on forex and $25 per million in notional value on spot metals. Commission fees for other instruments vary and can be found on the company's website.

There are a variety of trading instruments available to clients. They can trade CFDs on forex, metals, commodities, indices, forex indices and stocks. Stock CFD trading is only available on the MT5 platform. All other trading instruments are available on both the MetaTrader 4 and 5 platforms. FXTM has regulations from multiple regulators. The company is regulated in the UK by the FCA, in Cyprus by the CySEC, and by the FSC in Mauritius.

IC Markets

IC Markets is a forex and CFD broker that avails three main accounts to its clients. These include the Standard account and two Raw Spread accounts on two different trading platforms. One of the Raw Spread accounts is on the MetaTrader platforms, while the other is on the cTrader platform. The MetaTrader Raw spread account features a commission of $3.5 per side per lot. In contrast, the cTrader Raw spread account has a commission of $3 per $100,000. Both of these accounts have spreads starting from 0.0 pips.

Regarding the availability of trading assets, IC Markets has a good standing. This broker allows clients to invest in the forex, indices, shares, commodities, cryptocurrency, futures, and stock markets. Therefore, investors can try out various markets on this platform. Finally, we look at the regulatory status of IC Markets. This broker is regulated by three main regulators. They include the CySEC in Cyprus, the ASIC in Australia, and the FSA in Seychelles.

Final Words on Low Commission Forex Brokers

While some traders are comfortable trading using spread-based accounts, some prefer to pay commissions on low-spread accounts. While the spread can move depending on market price, commissions can be relatively constant and predictable. This is something that most professional traders look for. In this review, we presented some forex brokers featuring some of the lowest commissions in the market. They offer great trading platforms and a plethora of market instruments. Still, we encourage you to do your research and invest only in companies that best suit your investment needs.