Forex Brokers with Lowest Trading Cost (Spread+Commission+Swap)

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%
Scoring Criteria

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)

BrokerAccount typesAvg.SpreadSpreadscoreSpread80%Avg.SwapSwapscoreSwap20%Totalscore
01TickmillPRO6.141.000.80-4.600.440.090.89
02ExnessRaw Spread9.430.890.72-2.500.830.170.88
03ExnessZero9.710.880.71-2.500.830.170.87
04ExnessPro9.860.880.70-2.500.830.170.87
05Land-FxZero Spread (ECN)11.430.830.66-1.561.000.200.86
06Land-FxStandard12.290.800.64-1.561.000.200.84
07Vantage FxRAW ECN10.000.880.70-3.600.630.130.83
08OctaFxMICRO9.860.880.70-4.500.460.090.80
09IC-MarketsRaw Spread (MT4)9.710.880.71-4.910.390.080.79
10PepperstoneRazor (MT4)12.140.810.65-4.550.450.090.74
11XMUltra Low Micro11.000.840.67-5.570.270.050.73
12XMUltra Low Standard11.140.840.67-5.570.270.050.72
13ExnessStandard15.570.700.56-2.500.830.170.72
14ExnessStandard Cent15.570.700.56-2.510.830.170.72
15alpariECN11.000.840.67-5.810.220.040.72
16thinkmarketsThinkZero11.000.840.67-5.870.210.040.72
17IC-MarketsStandard (MT4)12.710.790.63-4.910.390.080.71
18OctaFxECN cTrader13.430.760.61-4.500.460.090.70
19FxtmECN11.290.830.67-6.530.090.020.69
20PepperstoneStandard (MT4)14.140.740.59-4.550.450.090.68
21Vantage FxStandard STP15.860.690.55-3.600.630.130.67
22OctaFxPro MT515.570.700.56-4.500.460.090.65
23IGStandard (MT4)12.140.810.65-0.000.000.65
24alpariStandard14.430.730.59-5.810.220.040.63
25Land-FxPRO22.290.480.38-1.561.000.200.58
26TickmillCLASSIC18.290.610.49-4.600.440.090.58
27thinkmarketsStandard15.140.710.57-7.030.000.000.57
28FBSECN17.000.650.52-6.090.170.030.55
29FXCMMetatrader416.140.680.54-0.000.000.54
30OandaIndividual (MT4)17.140.650.52-0.000.000.52
31FxProFxPro (MT4)19.570.570.45-5.940.200.040.49
32alpariMicro19.860.560.45-5.810.220.040.49
33FBSStandard (MT4)19.860.560.45-6.090.170.030.48
34XMMicro20.710.530.42-5.570.270.050.48
35XMStandard20.710.530.42-5.570.270.050.48
36FBSZero spread20.000.550.44-6.090.170.030.48
37FxProFix Spread (MT4)21.710.500.40-5.940.200.040.44
38FxProMarket Execution (MT4)21.710.500.40-5.940.200.040.44
39FxtmStandard22.860.460.37-6.530.090.020.39
40FxtmECN ZERO25.710.370.29-6.530.090.020.31
41Forex.comStandard (MT4)25.860.360.29-0.000.000.29
42OctaFxMICRO Fix spread34.290.090.07-4.500.460.090.17
43FBSMicro (MT4)37.140.000.00-6.090.170.030.03

1st Rank Broker: TICKMILL

PRO account 

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.

tickmill logo

Sample Spread of Tickmill – Left: Classic | Right: Pro

Average spreads over 7 major currency pairs of Tickmill

tickmill Spread

Swap values ​​over 7 major currency pairs of Tickmill

swap-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).

exness logo

Sample Spread of Exness – Standard, Standard Cent, Pro, Raw Spread and Zero

Average Spread over 7 major currency pairs of Exness

exness spread

Swap Fee over 7 major currency pairs of Exness

swap-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”.

land fx logo

Sample Spread of Land-FX– Standard, ECN and Pro

Average spread over 7 major currency pairs of Land-FX

land-fx spread

Swap fee over 7 major currency pairs of Land-FX

swap 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.

vantage fx

Sample Spread of Vantage FX: Standard STP and RAW ECN

Average spreads over 7 major currency pairs of Vantage FX

vantage-fx spread

Swap fee ​​over 7 major currency pairs of Vantage FX

vantage fx swap

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).

octa fx logo

Sample Spread of OctaFx : Micro (Fixed Spread), Micro, Pro MT5 and ECN (cTrader)

Spread Octafx

Average Spread over the 7 major currency pairs of OctaFx

octafx spread

Swap Fee over 7 major currency pairs of OctaFx

swap 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:

  1. Spread 
  2. Commission
  3. Swap

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“.

Lowest fee broker investigation log file “Click”

Conclusion

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)

Lowest Spread Forex Brokers

References

  • Alpari
  • Exness
  • FxPro
  • IC Markets
  • Land-Fx
  • OctaFx
  • Pepperstone
  • ThinkMarkets
  • Tickmill
  • FBS
  • Forex.com
  • FXCM
  • FXTM
  • IG
  • OANDA
  • Vantage Fx
  • XM

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 >

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