Low Commission Forex Brokers

Forex BrokerMax LeverageMin. DepositSpreadFull ReviewsTrade Now
500:1$0From 0.0 PipsRead the full review
200:1$500From 0.1 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$5From 0.0 PipsRead the full review
Forex BrokerMax LeverageMin. DepositSpreadFull ReviewsTrade Now
500:1$0From 0.0 PipsRead the full review
200:1$500From 0.1 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$200From 0.0 PipsRead the full review
500:1$5From 0.0 PipsRead the full review

Participating in the foreign exchange market (Forex Market) as a trader can be quite costly. Forex traders are always trying to keep their trading costs low, looking for the lowest spreads and/or commissions out there. Cost-cutting can significantly change the way we trade and help us in making bigger profits, not only if you trade in high volume. The issue is, that finding the best Forex broker with the offering you need and providing lowest fees can be very time-consuming, daunting and again - costly. 

But don't worry, we've got you covered! We've done all the hard work for you and tested countless international Forex brokers to the core to find you the best deal out there!

The best brokers are typically those that are licensed and regulated by a reputable organisation because they can be considered as safe and secure and don't scam you off your money. These agencies are for example the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). 

Of course, regulation and safety is not everything if we want to succeed in trading CFDs, or the markets in general. We also need to consider many other factors such as the trading environmenttrade execution speed, available technical functionalities, tradable financial instruments, available payments methods, customer support and of course costs and (hidden) fees.

Let's check out all important aspects to consider when choosing the right Forex broker and then dive deeper into the main topic of this article and reveal what "low spreads", "zero spread Forex brokers" and "low trading fees" actually means.


Trading Environment & Forex Trading Platforms


Most brokers offer a selection of powerful trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5) or the cTrader platform. Some brokers provide their clients with their own proprietary platforms. 

The most important aspects when selecting a Forex broker and looking at the available trading platforms are if they offer technical analysis and charting tools that suit and support your trading strategies (scalping or hedging for example), if they provide you with the functionalities you need and if they can connect to a markets news streams.

As an example, most leading Forex brokers offer the popular MetaTrader 4 platform. The platform itself is powerful but every broker can select which functionalities and add-ons are provided. Most of the time you will have the platform available as a download version for Windows and Mac, a Webtrader which can be used with most web browsers as well as a mobile app for Android and iOS devices.   

Speed of execution is another hot topic when you trade Forex and other financial instruments. Many brokers advertise fast execution but there are huge differences on the market. We have selected only brokers that really excel in this category and provide direct access to the major data centres in the world which are located in New York, London, Hong Kong or Shanghai.

Trading Accounts


Nowadays, and more than often, you will have a selection of at least two trading account types to choose from when you sign up with a broker. One account is usually called Standard Account and a second one often called ECN Account. (ECN FOREX BROKERS)

The difference is, that the Standard Account is often an account where the broker acts as a market maker, which means he has control over the variable spreads. They are called market maker because they set the prices you get - both ask prices and bid prices. No commissions are typically due with these trading accounts - the fees/commissions you pay are the spreads the broker sets.

ECN accounts on the other hand often come with commissions but spreads can start at 0.0 pips. Zero Spread Forex Brokers are typically those that offer straight-through-processing (STP) via an ECN (Electronic Communications Network). They are the opposite of market makers because they charge commissions but are not entertaining a dealing desk (NDD). Instead, clients’ orders are filled without intervention and allow for direct access to the financial markets. ECN brokers provide traders with direct market access (DMA). Therefore not the broker sets the price but the market itself.

ECN brokers are ideal for certain Forex traders that apply strategies such as day trading or high-frequency scalping.

Beginners or novice traders need to be careful with Forex trading and CFDs as they are complex instruments and pose a high risk. A great way to start is to open a demo account and start learning with virtual credits instead jumping into the real thing face forward.

Available Financial Instruments


Before you sign up with a broker and open a retail investor account you need to know which asset classes and trading products they actually offer. You may simply want to trade the Forex market but all brokers offer a different amount of currency pairs. From "Majors" such as the most traded FX pairs EUR/USD and GBP/USD, over "Minors" to "Exotics" you can find brokers with just a few available currency pairs to other companies that allow currency trading of almost every single pair available on the planet.

But maybe you don't want to engage in trading Forex but other financial markets such as equity CFDs, commodities, metals, stocks, ETFs, Futures or cryptocurrencies like Bitcoin. 

It's essential that you know what you're getting before you sit on an open account which may even cost you inactivity fees! 

Customer Support & Individual Settings


Brokers typically entertain a customer service desk and an account management team. These need to be accessible at least during market hours but best 24/5 or even 24/7. It's important that you know where the broker is located and if they are available during your local time. For example, if you are a European trader that trades with a Forex broker that has their headquarter in Australia it is important to know if they provide support during your local hours. This is also important when it comes to processing times of deposits or withdrawals. Keep local hours in mind and check if the set-up suits you. 

Other factors to consider are minimum deposit requirements, maximum leverage (high leverage can be beneficial but it also increases risk!), account opening process and available account base currencies. If you selected a broker that only accepts Russian rubles but you typically pay in US Dollars than you're already heading for trouble and otherwise avoidable extra costs for currency conversions.

Trading Costs & Maintenance Fees


All brokers we selected for this article and highlight in the above comparison table do not charge any inactivity, account maintenance or management fees. It's always astounding that there are still Forex brokers out there that charge these fees but we've ruled them out for you. 

The only fees you need to worry about with brokers featured in this chapter are commission charges and spread mark-ups. Differences may seem small at first glance but don't be fooled: every Cent saved is a Cent more in your pocket and they add up quite quickly the more you trade!

Our featured and favourite low-cost broker, Fusion Markets, can help you save trading costs up to a whopping 36% on average!

Fusion Markets is an innovative, up-and-coming broker hailing from the shores of Australia. Licensed and regulated by ASIC, one of the toughest cookies when it comes to international Forex regulations, Fusion Markets offers an excellent trading environment and the lowest commissions we could find - anywhere!

Their ECN Account comes with ultra-low commissions of just $2.25 per traded lot on any available instrument. Most other competitor brokers charge $3.50 per standard lot so you can see that saving more than 1/3 per lot is massive! Low starting spreads from 0.0 pips are accessible with an average spread on the popular EURUSD pair of just 0.12 pips.

Fusion Markets also offers a zero-commissions account option with their Standard Account option that has low starting spreads from 0.6 pips.

Traders can select from a large selection of financial instruments including 70+ currency pairs, energies such as oil or natural gas, precious metals including gold, silver, palladium, platinum and more, range of CFDs on major indices (global markets), many commodities as well as 5 of the most popular digital assets including Bitcoin, Ethereum, Ripple’s XRP, Litecoin and BitcoinCash.

Other great features of Fusion Markets are: 

- ultra-fast trade execution

- maximum leverage of up to 500:1

- no minimum deposit requirement

- MetaTrader 4, Mobile trading and wealth of advanced technical analysis tools

- VPS available 

- professional customer service

- high level of transparency

Conclusion


We found that Fusion Markets is the best low-cost Forex Broker on the market. They offer the lowest commissions, fast trade execution, a large selection of trading instruments and an overall stable and reliable trading environment. Fees and charges are fully transparent and as an ASIC regulated broker, they can be considered safe and secure, trustworthy and professional.