Compare Commission Free Forex Brokers

If you are looking for a commission free forex broker to trade with, you have landed in the right place!

There are many brokers out there who claim to offer “commission free” accounts, however be wary. Whilst some will indeed offer commission free trading, they may also charge you higher spreads to recoup their loss of commission.

On the flipside to this, are brokers that offer “spread free” trading accounts. This is where you will pay a commission fee each time you trade but you will not pay spread. Again, be wary. Spread free trading sounds amazing but it is likely the broker will charge you a higher commission, again, to compensate for the loss of (spread) revenue.

Below, we have listed some of the more genuine and reputable brokers that can offer commission free trading accounts. Let’s take a look!

This is where you sign up for a trading account with an FX or CFD broker and pay $0 in commission on your trades.

For reference, it is important to note that forex brokers will generally charge you in the following ways:

1. Spread

The spread cost is simply the difference between the bid and offer price. For instance, if the EUR/USD forex pair was quoted as 1.12000 – 1.12020, the spread would be 2 pips. Brokers will charge you the spread when you open AND close a trade.

2. Commissions

Commission charges are an additional charge to the spread. Some brokers charge both, some charge either spread or commission, making it your choice to decide. Commissions are typically a set cost per lot size or amount.

3. Overnight Financing

Overnight financing is the cost of keeping an FX trade open overnight. It will either be credited to your account (for a short position) or debited from your account (for a buy position).

No, unfortunately not as not every broker offers commission free accounts.

There are some brokers that never charge commission, like TD365.com, and there are other brokers, like BlackBull Markets, that offer different account types, meaning you can choose a commission free account if you wish to do so.

It is important for a trader to consider what is important to them before deciding if a commission free forex account is for them or not.

If you are a more experienced trader who day trades larger amounts, then a commission free account is probably not the best option for you. That is because it is more likely that you prefer to pay a set commission fee per trade BUT get access to lower spreads.

On the flipside, beginner traders will probably prefer a commission free account, whilst being charged a slightly wider spread.

TD365 is one of the cheapest FX brokers in the world to trade with. Their business model is focused on low cost trading, with fixed spreads 24/5 and no commission charged. If you are looking for a low-cost trading option, TD365 could be for you.

• Launched: 2015
• Leverage: 200:1 through their Bahamas licence (30:1 through their ASIC licence)
• Regulation: SCB (Bahamas), ASIC (Australia)
• Opening deposit amount: $0
• Spreads: Fixed
• Trading platform: CloudTrade and MT4

Always look for a broker that offers these benefits: