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Cheapest forex brokers: total costs compared

Sorted by the total cost of one standard lot of EUR/USD: spread plus commission. The fair way to compare raw and standard accounts.

Updated

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The ranking

  1. 1

    AvaTrade

    MetaTrader and proprietary apps under Irish supervision

    CBI

    EUR/USD cost
    €8.29
    Min. deposit
    €100
    Platforms
    4
    Visit AvaTrade

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    Read the review of AvaTrade
  2. 2

    eToro

    Investing and trading on one platform, with CopyTrader

    CySEC

    EUR/USD cost
    €9.22
    Min. deposit
    €50
    Platforms
    2
    Visit eToro

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    Read the review of eToro
  3. 3

    XM

    MetaTrader 4 and 5 with a US$5 minimum deposit

    CySEC

    EUR/USD cost
    €10.14
    Min. deposit
    €5
    Platforms
    4
    Visit XM

    Advertisement: we may receive a fee if you open an account through this link. This never changes our scores.

    Read the review of XM
  4. 4

    XTB

    Proprietary xStation platform and no minimum deposit

    CySEC

    EUR/USD cost
    €11.06
    Min. deposit
    None
    Platforms
    2
    Visit XTB

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    Read the review of XTB
  5. 5

    Plus500

    Clear CFD platform from a listed provider

    EFSA · CySEC

    EUR/USD cost
    €11.98
    Min. deposit
    €100
    Platforms
    2
    Visit Plus500

    Advertisement: we may receive a fee if you open an account through this link. This never changes our scores.

    Read the review of Plus500

How we compare costs

For each broker we calculate the total cost of one standard lot of EUR/USD: the typical spread converted to euros plus commission, round turn. That is the fairest way to compare an account with tight spreads and commission against a commission-free account with a wider spread.

What this figure doesn't cover

  • Overnight financing: if you hold positions overnight, you pay interest. For trades held for days or weeks, this often outweighs the spread.
  • Inactivity fees: some brokers charge a monthly fee if you don't trade for a while.
  • Currency conversion: trading a dollar-denominated instrument from a euro account usually involves a conversion mark-up.
  • Spreads move: outside the busiest trading hours and around news, spreads are often wider than typical.

These costs are listed in each broker review. Read also: Spreads, commissions and swaps, or work out your own situation with the spread cost calculator.

Frequently asked questions

Why not sort by spread?

Raw accounts combine a low spread with a commission. Only total costs compare fairly.

Is the cheapest broker also the best?

Not necessarily. Costs account for 25% of our overall score. Regulation, platform, education and support count too.