- Ranked the 1st: Tickmill PRO Account | Score of 8.9
- Ranked the 2nd: Exness Raw Spread, Zero and Pro accounts | Score of 8.8
- Ranked the 3rd: Land-Fx Zero Spread and Standard Account | Score of 8.6
- Ranked the 4th: Vantage Fx Raw ECN Account | Score of 8.3
- Ranked the 5th: OctaFx Micro Account | Score of 8.0
We will use Spread, Commission and Swap fees to see which brokers have the lowest trading cost.
By giving weight to:
- Spread+Commission: 80% (Convert Commission Fee to Spread for comparison)
- Swap: 20%
Note : Forex broker rankings in terms of “Trading cost” are just a factor, which only help speculate our cost of trading. It is unable to identify if these brokers are really good or not. In case you want to see an excellent broker in all aspects, you can click the link below.
Summary Table : Forex brokers with Lowest Trading Cost Ranking (spread+commission+swap)
|05||Land-Fx||Zero Spread (ECN)||11.43||0.83||0.66||-1.56||1.00||0.20||0.86|
|07||Vantage Fx||RAW ECN||10.00||0.88||0.70||-3.60||0.63||0.13||0.83|
|09||IC-Markets||Raw Spread (MT4)||9.71||0.88||0.71||-4.91||0.39||0.08||0.79|
|11||XM||Ultra Low Micro||11.00||0.84||0.67||-5.57||0.27||0.05||0.73|
|12||XM||Ultra Low Standard||11.14||0.84||0.67||-5.57||0.27||0.05||0.72|
|21||Vantage Fx||Standard STP||15.86||0.69||0.55||-3.60||0.63||0.13||0.67|
|37||FxPro||Fix Spread (MT4)||21.71||0.50||0.40||-5.94||0.20||0.04||0.44|
|38||FxPro||Market Execution (MT4)||21.71||0.50||0.40||-5.94||0.20||0.04||0.44|
|42||OctaFx||MICRO Fix spread||34.29||0.09||0.07||-4.50||0.46||0.09||0.17|
1st Rank Broker: TICKMILL
Tickmill is the broker with the lowest average spread (commission included) based on 43 tested accounts of over 17 brokers, especially the major currency pairs; GBPUSD, USDCHF, USDCAD, AUDUSD and NZDUSD that Tickmill Pro accounts offer the lowest spread among all brokers.
As for swap, Tickmill might not be able to compete with Exness and Land-Fx as Tickmill’s swap isn’t very low, but with better spreads, Tickmill comes in at 1st rank.
Therefore, Tickmill is very suitable for traders who go for short-term speculation or finish trading within the day.
Sample Spread of Tickmill – Left: Classic | Right: Pro
Average spreads over 7 major currency pairs of Tickmill
Swap values over 7 major currency pairs of Tickmill
Commissions fee of Tickmill Pro Accounts
- EURUSD : 4 usd/lot
- USDJPY : 4 usd/lot
- GBPUSD : 5 usd/lot
- USDCHF : 4 usd/lot
- USDCAD : 4 usd/lot
- AUDUSD : 3 usd/lot
- NZDUSD : 2 usd/lot
- XAUUSD : 7 usd/lot
(The commission fee for each currency pair is different)
2nd Rank Broker: EXNESS
Raw Spread, Zero and Pro account types
Both narrow spread and low swap fee make Exness one of the top brokers with extremely low trading costs.
All 3 accounts have more or less the same spread, the cheapest one is “Raw Spread”.
Exness is suitable for traders who trade both short and long-term (in short, Exness is suitable for all trading styles).
Sample Spread of Exness – Standard, Standard Cent, Pro, Raw Spread and Zero
Average Spread over 7 major currency pairs of Exness
Swap Fee over 7 major currency pairs of Exness
Commission Fee of each type of Exness account
- Standard : No Commission Fee
- Standard Plus : No Commission Fee
- Raw Spread : Fixed Commission Fee at 7 USD/lot
- Pro : No Commission Fee
- Zero : Variable Commission Fee
3rd Rank Broker: LAND-FX
Zero Spread (ECN) and Standard account types
Although the spread of Land-FX is mid-range, not very narrow, but due to the relatively low swap rate, Land-FX was able to come up to the 3rd rank.
Therefore, Land-FX is suitable for traders whose trading style is “holding across the day”.
Sample Spread of Land-FX– Standard, ECN and Pro
Average spread over 7 major currency pairs of Land-FX
Swap fee over 7 major currency pairs of Land-FX
Commission Fee of each type of Land-Fx ECN (Zero) account.
- For MT4: 7 USD/lot is the same for all currency pairs.
- For MT5: Each currency pair has different commission rates.
- EURUSD : 8 USD/lot
- USDJPY : 6 USD/lot
- GBPUSD : 8 USD/lot
- USDCHF : 8 USD/lot
- USDCAD : 4 USD/lot
- AUDUSD : 8 USD/lot
- NZDUSD : 8 USD/lot
- XAUUSD : 8 USD/lot
4th Rank Broker: VANTAGE FX
RAW ECN Account Type
The spread fee is quite low and the swap fee is moderate, overall, it is satisfactory. In terms of trading cost, it is considered good.
Sample Spread of Vantage FX: Standard STP and RAW ECN
Average spreads over 7 major currency pairs of Vantage FX
Swap fee over 7 major currency pairs of Vantage FX
Commission fee of each type of Vantage FX Raw ECN account
- At 6 USD/Lot
- The currency pair symbol ends with a “+”
5th Rank Broker: OCTAFX
Micro account type
Surprisingly, the Micro account turned out to be the account with the lowest spread (lower than Pro and ECN).
Sample Spread of OctaFx : Micro (Fixed Spread), Micro, Pro MT5 and ECN (cTrader)
Average Spread over the 7 major currency pairs of OctaFx
Swap Fee over 7 major currency pairs of OctaFx
Commission fee of each account type of OctaFx
- Micro and Pro MT5 accounts are Commission-free.
- ECN (cTrader) has no Commission Fee.
- EURUSD : 6 USD/Lot
- GBPUSD : 6 USD/Lot
- USDJPY : 6 USD/Lot
- USDCHF : 6 USD/Lot
- AUDUSD : 6 USD/Lot
- NZDUSD : 6 USD/Lot
- USDCAD : 4 USD/Lot
Scoring Criteria of the Forex Brokers Rating Review
The team has conducted the investigation by opening a real account and testing it out in all of the brokers that are rated in order to acquire the most truthful information.
In the ranking of the trading cost, we will consider three main components:
As for Spread and Commission, we will combine them together, which will convert the Commission to Spread. For example, Exness Raw Spread account on EURUSD has Spread Fee at 1 USD and Commission fee is 7 USD/Lot (1 Round). Therefore, the spread is equal to 8.
We provide the Swap + Commission and Swap priority ratios as follows:
- Spread + Commission: 80%
- Swap: 20%
In the case of Swap, we look at brokers that collect the lowest swap fee, then ranked in order using the average of the “difference” of the long and short swaps over all major currency pairs.
We use ranking and give a proportional score for the calculations.
Traders can view evidence of this investigation here: “click“.
Various service fees including Spread, Commission and Swap are the cost of trading. Traders should be very aware of these aspects, because if traders choose to trade with Forex brokers with low trading cost, it is possible to gain more profits. This is different from choosing a broker that offers high trading costs which may turn profit to a loss as well.
Summary table : Forex Brokers with Lowest Trading Cost Ranking (spread+commission+swap)
- IC Markets
- Vantage Fx
Writer : Yoda Yoshida
- Position : Editor
- Biography : Former waiter to professional traders
- Experience : 20 years in the Forex industry
- Goal : To select the best broker for traders.
- Short greetings : Some things take time to grow.
- Full biography of the writer, Click >