Low Commission Forex Brokers
No trader in the world wants to pay exorbitant fees when trading. While the spread is the primary cost of trading on the markets, some brokers also charge commissions. Furthermore, some forex brokers provide commission accounts for traders who want to trade with ultra-low spreads. Today, we will be looking at the best low-commission forex brokers.
Exness features some of the lowest trading fees in the market. The company has two main account groups; Standard and Professional accounts. The Standard accounts feature spreads starting from 0.3 pips and no commissions. However, two low spread Professional accounts are provided for traders looking to trade with low spreads. These accounts feature spreads starting from 0.0 pips and a commission.
The two low-spread accounts on Exness are the Raw Spread and Zero accounts. The Raw Spread account has a commission of up to $3.50 each side per lot. In contrast, the commission on the Zero account starts from $0.2 each side per lot. These are some of the lowest commissions in the market. Better yet, various market instruments are available for trading on both of these accounts. Clients can trade instruments in the forex, metals, stocks, indices, cryptocurrencies, and energy markets. They can do this on some of the best trading platforms. Both MetaTrader 4 and 5 are available to users of these two accounts.
Of course, we have to mention each company’s regulatory status. This is one of the most important things to look at before choosing a broker to invest with. Exness is regulated by multiple regulators in multiple jurisdictions. These include the CySEC in Cyprus, the FCA in the UK, the FSA in Seychelles, and the FSCA in South Africa.
Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.
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 on spreads starting from 0.0 pips and pay a commission on trades. 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 invest in 60 different currency pairs, metals, indices, and commodities on the Raw account. This account also comes with Expert Advisors available to the users. The minimum opening balance on this account is AUD 100 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 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.
73.85% of retail CFD accounts lose money
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.
Some of the markets available to clients on Forex.com include forex, gold and silver, and futures and futures options. 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.
81% of retail investor accounts lose money when trading CFDs with this provider.
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 on this account averages at $0.4-$2 based on volume.
There are a variety of trading instruments available to clients. They can invest in assets in the forex, metals, commodities, indices, forex indices, stocks, stock CFDs, and stock baskets. Stocks and 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 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.
Pepperstone is a forex and CFD broker that gives traders access to over 1,200 trading instruments. Clients can trade in the forex, shares, indices, ETFs, commodities, and currency indices markets. This is an excellent collection of assets for both experienced and beginner traders. Commissions on Pepperstone are only charged on the Razor accounts. The commission on this account depends 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 Razor accounts. However, the commission on the cTrader account is $6 per round trip.
The trading platforms available to clients on Pepperstone include MT4, MT5, 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 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, BaFin in Germany, and ASIC in Australia.
Final Words on Low Commission Forex Brokers
While some traders are comfortable trading using spread base 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.