You may still wonder though, exactly how much do forex brokers charge?
We have the answer to this and much more with a full breakdown of each fee type you are likely to encounter along the way and what it means. This should help you be fully clear on your fees and what is suitable for your own trading.
Let’s get started.
Table of contents
How much do forex brokers charge?
Forex broker charges differ from broker to broker. They may charge a commission per lot traded, or on transactions. Typically, the commission can be up to $10 per standard lot traded.
With deposits and withdrawals no commissions are usually charged or if they are, these are very low.
Below you will see a list of sample commissions and fees that can be charged.
Type of Fee
Forex Spread (per lot)
ECN Fees (per lot)
Rollover Fee (per lot)
Deposits (100 USD)
Withdrawals (100 USD)
Currency Conversion Fee (100 USD)
Forex Brokers Fees: What are they and how to calculate them
There are several fees to be aware of when trading with a broker. We have listed each one below along with a description to explain what each is.
Spreads: The main forex brokers fee
The broker spreads can often be their main fee and way of generating money. These spreads are calculated on lots with 1 standard lot being 100,000 currency units. So, if you trade USD, then 1 lot is 100,000 USD.
The spread itself is calculated in pips with 1 pip in USD being 0.0001 USD so a 1 pip spread per lot on USD is $10.
In many cases, brokers allow you to open positions of less than 1 lot with proportionately lower fees.
The broker with some of the lowest spreads is Pepperstone. Pepperstone spreads start from 0 pips (0.09 pips on average on EUR/USD). You can visit Pepperstone for more information on what they offer (74-89% of retail CFD accounts lose money)
ECN Forex Commission: When are they Charged?
This commission is only charged by ECN brokers. These brokers usually offer extremely low spreads from 0 pips so they tend to add a small commission. This can vary but is usually between 4 USD to 7 USD per lot traded.
Despite the low commissions and fees, there still may be ways to partially avoid ecn fees that you can check out anytime.
Swap Fees: the interest on trading positions
Swap or overnight fees are charged only when trading CFDs or leveraged products like forex. It is typically very low and is a kind of interest charge for keeping a position open after the market closes. It means, the longer a position is open, the more you will pay.
Forex Deposits and Withdrawals: How much are they?
The deposit or withdrawal fee charged again will depend on the broker and the payment method you use. Typically, brokers will not charge a deposit or withdrawal fee from their side. When they do, it is usually a percentage of something up to 3% or a fixed fee that is often not higher than $30.
You will find most brokers requiring some amount of minimum deposit. This can be from $0 up to $500 in general with more advanced account types often running into higher amounts even thousands in some cases.
Conversion Fee: an underestimated broker feature
Another common fee you will find, the conversion fee is charged when you deposit or withdraw a currency not supported by the broker as a base currency. For example, If you open a USD account, but you deposit money in EUR, the broker may charge a small conversion fee when depositing or withdrawing money.
To negate this fee, simply make sure the currency you’re using matches the account currency and is supported by the broker as a base currency.
How much do currency brokers charge?
Currency brokers charge a range of fees. But, in order to get started, a deposit must be made. The industry average for this minimum deposit is usually around $200.
How much do forex brokers charge per trade?
On average, brokers charge between 5 USD and 10 USD per forex trade executed. There are many variable factors though such as the broker, the market, and other costs which could make that number higher or lower.
Do Forex brokers charge a fee?
They do charge fees, though these fees depend on the broker. They can charge trading fees such as spreads, and non-trading fees which are all the fees not related to trading such as deposit and withdrawal fees.
What is the monthly fee for Forex?
There is not a monthly fee for forex trading. It will depend on the fee model of the broker but the vast majority charge per transaction and not based on a monthly fee amount.
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.