Which forex broker is commission free?

FOREX.com : With its extensive range of tradable markets and its suite of proprietary platforms, FOREX.com stands out as one of the best commission-free forex trading platforms available.

Which broker charges least commission?

Examples of brokers with Lowest brokerage charges in India include Zerodha, Angel One & Kotak Securities . These platforms often appeal to traders and investors seeking cost-effective options with transparent fee structures, providing a variety of financial instruments at competitive rates.

Which broker does not charge commission?

There are a few ECN brokers that offer low spreads and no commission fees per trade, such as: - IC Markets . - Pepperstone. - FXTM.

Can you trade forex with no fees?

I trade at Fxglory and they don't charge any commissions or swaps , they only charge a fixed amount of spread which will not change no matter the volatility of the market. They also offer 3 different account types that have competitive spreads.

Who is the most successful forex trader in India?

Shashikant Sharma Knowing all trading pitfalls and subtle aspects, Shashikant became the richest forex trader in India. At the age of 22, he took the first steps in learning forex. In the course of training, he was failing again and again. But this is the way how he understood the importance of a step-by-step approach.

Who gives best forex rates in India?

WSFx Global Pay offers the most competitive foreign currency exchange rates in India. Experience India's leading Foreign Exchange Service and enjoy the advantage of getting the best forex rates available online.

Forex broker commission comparison? Top Forex Broker charges lowest commission in India (2024)

In the ever-evolving landscape of forex trading, understanding the fee structure of your chosen broker is paramount. One of the most crucial components of these fees is the commission charged by brokers. A well-informed decision regarding which broker to partner with can significantly impact the profitability of your trades. In this article, we embark on a comprehensive exploration of forex broker commissions, with a special focus on the Indian market. Our aim is to shed light on the top brokers renowned for offering the lowest commission rates, empowering traders to make astute choices in their pursuit of financial success.

Introduction to Forex Broker Commissions

Forex broker commissions are fees charged by brokers for their services in facilitating currency trading transactions. These commissions are separate from the spreads, which are the differences between the buying and selling prices of currency pairs. While not all forex brokers charge commissions, many operate on a commission-based model. Here's an introduction to forex broker commissions:

Commission Structures

Forex broker commissions can be structured in different ways. The two primary types of commission structures are:

Fixed Commission: In this structure, the broker charges a fixed fee for each trade, regardless of the trade size or value. For example, the broker may charge $5 per lot traded.
Variable Commission: Under this structure, the commission varies based on the trade size or value. The commission may be calculated as a percentage of the trade volume or as a fixed fee plus a percentage of the trade value.

Commission Calculation Methods: Forex brokers may use different methods to calculate commissions:

Per Lot: The commission is charged based on the number of standard lots traded. For example, if the commission is $5 per lot, and you trade two standard lots, the commission would be $10.
Percentage of Trade Value: The commission is calculated as a percentage of the total trade value. For instance, if the commission is 0.1% and you trade a position worth $10,000, the commission would be $10.

Commission vs. Spread: It's important to note the distinction between commissions and spreads. While commissions are fees charged by brokers, spreads are the differences between the buying and selling prices of currency pairs. Some brokers offer commission-free trading but compensate by widening the spreads.

Impact on Trading Costs: Forex broker commissions directly impact the overall trading costs. Traders need to consider both the spreads and commissions when evaluating the cost of executing trades. Lower commissions may be favorable for high-frequency traders or those who trade large volumes.

Broker Comparison: When selecting a forex broker, it's crucial to compare and evaluate their commission structures, spreads, and other fees. Traders should consider their trading style, frequency, trade sizes, and overall trading costs to find a broker that aligns with their requirements.

Factors Affecting Forex Broker Commissions

Several factors can affect forex broker commissions. Understanding these factors can help traders assess and compare different brokers' commission structures. Here are some key factors that influence forex broker commissions:

Broker Type: Different types of brokers have varying commission structures. For instance:

+ Full-Service Brokers: These brokers typically charge higher commissions as they provide additional services such as research, analysis, and personalized advice.

Discount Brokers: Discount brokers usually offer lower commissions as they focus on executing trades without providing extensive research or advisory services.

+ ECN/STP Brokers: Electronic Communication Network (ECN) and Straight Through Processing (STP) brokers often charge lower commissions compared to full-service brokers. They connect traders directly to the interbank market, eliminating the need for a dealing desk.

Account Type: Some brokers offer different types of accounts with varying commission structures. For example:

+ Standard Accounts: These accounts usually have higher commissions but may offer lower spreads.

+ VIP/Pro Accounts: Brokers may offer special account types for high-volume or experienced traders with lower commissions and/or tighter spreads.

Top Forex Brokers Offering Lowest Commissions in India

Here is a list of the top forex brokers offering the lowest commissions in India:

IC Markets

IC Markets is an Australian-based online forex and CFD (Contracts for Difference) broker. It is known for providing access to a wide range of financial instruments, including currencies, commodities, indices, and cryptocurrencies, through various trading platforms.

As for the commission structure at IC Markets, they offer two account types: Raw Spread and Standard. The commission rates and spreads vary depending on the chosen account type.

Raw Spread Account: This account type is designed for traders who prefer trading with raw spreads directly sourced from liquidity providers. The commission charged is based on a per lot (round turn) basis. As of my knowledge cutoff in September 2021, the commission for the Raw Spread account starts at $3.50 per lot for forex trading. However, please note that commission rates may vary based on the currency pairs traded and other factors. It's advisable to visit IC Markets' official website or contact their customer support for the most up-to-date commission rates.
Standard Account: The Standard account at IC Markets operates on a commission-free model. Instead of charging a separate commission, the broker incorporates the costs within the spreads. Traders using the Standard account pay slightly wider spreads compared to the Raw Spread account.

Exness

Exness is an online forex and CFD broker that provides trading services to clients worldwide. It offers a range of financial instruments, including currencies, commodities, indices, and cryptocurrencies, through various trading platforms.

Regarding commission rates at Exness, they operate on a spread-only model for most of their account types. This means that they do not charge separate commissions on trades but incorporate their costs within the spreads. Here's a general overview:

Standard Account: Exness offers a Standard account type where spreads are the primary cost. The spreads can vary depending on the currency pairs and market conditions. The spreads are typically variable and can be seen directly on the trading platform.
Raw Spread Account: Exness also offers a Raw Spread account type for traders who prefer trading with raw spreads sourced from liquidity providers. The Raw Spread account has lower spreads compared to the Standard account, but it charges a fixed commission per lot (round turn) on trades.

OctaFX

OctaFX is an online forex and CFD broker that offers trading services to clients globally. They provide access to various financial instruments, including currencies, commodities, indices, and cryptocurrencies, through different trading platforms.

OctaFX offers different account types, and the commission structure can vary depending on the chosen account type. Here's an overview of OctaFX's commission structure:

MT4 Micro Account: This is one of the account types available at OctaFX. It operates on a spread-only model, meaning there are no separate commissions charged. The costs are incorporated within the spreads, which can vary depending on the currency pairs and market conditions.
MT5 Pro Account: The MT5 Pro Account at OctaFX is designed for more experienced traders who prefer lower spreads and faster execution. This account type charges a fixed commission per lot (round turn) on trades.

XM

XM is an online forex and CFD broker that provides trading services to clients globally. They offer a range of financial instruments, including currencies, commodities, indices, and cryptocurrencies, through various trading platforms.

At XM, the commission and spread structure varies depending on the type of trading account. Here's an overview of XM's commission and spread models:

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FXTM

FXTM (ForexTime) is an online forex and CFD broker that offers trading services to clients worldwide. They provide access to various financial instruments, including currencies, commodities, indices, and cryptocurrencies, through different trading platforms.

FXTM offers different account types, and the commission and spread structure can vary depending on the chosen account type. Here's an overview of FXTM's commission and spread models:

Standard Account: The Standard Account at FXTM operates on a spread-only model. There are no separate commissions charged on trades. Instead, the costs are incorporated within the spreads, which can vary depending on the currency pairs and market conditions.
ECN Account: FXTM also offers ECN (Electronic Communication Network) account types. ECN accounts provide direct access to liquidity providers and typically offer tighter spreads. With ECN accounts, FXTM charges a small commission per lot (round turn) on trades in addition to the spreads. The commission rates for ECN accounts can vary based on the currency pairs traded and other factors. It's advisable to visit FXTM's official website or contact their customer support for the most up-to-date commission rates for ECN accounts.

Pepperstone

Pepperstone is an online forex and CFD broker that provides trading services to clients globally. They offer access to a wide range of financial instruments, including currencies, commodities, indices, and cryptocurrencies, through various trading platforms.

At Pepperstone, the commission and spread structure can vary depending on the type of trading account and the platform chosen. Here's an overview of Pepperstone's commission and spread models:

Razor Account: The Razor Account at Pepperstone is designed for traders who prefer low spreads and fast execution. This account type operates on a commission-based model. Instead of incorporating costs within the spreads, Pepperstone charges a fixed commission per lot (round turn) on trades. The commission rates for the Razor Account can vary based on the currency pairs traded and the platform chosen. As of my knowledge cutoff in September 2021, the commission for the Razor Account starts at $3.50 per lot for forex trading on the MetaTrader platform. However, please note that commission rates may vary, and it's advisable to visit Pepperstone's official website or contact their customer support for the most up-to-date commission rates for the Razor Account.
Standard Account: Pepperstone also offers a Standard Account type that operates on a spread-only model. There are no separate commissions charged on trades. Instead, the costs are included within the spreads, which can vary depending on the currency pairs and market conditions.

AvaTrade

AvaTrade is an online forex and CFD broker that offers trading services to clients globally. They provide access to a variety of financial instruments, including currencies, commodities, indices, stocks, and cryptocurrencies, through their trading platforms.

At AvaTrade, the commission and spread structure can vary depending on the type of trading account and the financial instrument being traded. Here's an overview of AvaTrade's commission and spread models:

AvaTradeGO Account: The AvaTradeGO Account is an account type offered by AvaTrade. It operates on a spread-only model, meaning there are no separate commissions charged on trades. The costs are incorporated within the spreads, which can vary based on the currency pairs and market conditions.
AvaTradeMT4 Account: AvaTrade also provides the option to trade on the popular MetaTrader 4 (MT4) platform. The commission and spread structure for the AvaTradeMT4 Account may vary based on the account type chosen within the MT4 platform. Some MT4 account types offered by AvaTrade may have commissions charged per lot (round turn) in addition to the spreads, while others may operate on a spread-only model. It's advisable to visit AvaTrade's official website or contact their customer support for detailed information regarding commission rates and spreads on specific MT4 account types.

FBS

FBS is an online forex and CFD broker that provides trading services to clients worldwide. It was founded in 2009 and has since grown to become a popular choice for traders of all experience levels.

FBS offers a range of financial instruments for trading, including currencies (forex), commodities, indices, stocks, and cryptocurrencies. They provide access to these instruments through various trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognized and utilized in the industry.

Standard Account: FBS offers a Standard Account type that operates on a spread-only model. There are no separate commissions charged on trades. Instead, the costs are incorporated within the spreads, which can vary based on the currency pairs and market conditions.
Cent Account: FBS also provides a Cent Account option for traders who prefer smaller position sizes and lower risk. The Cent Account operates on a spread-only model, similar to the Standard Account, with costs included within the spreads.
ECN Account: FBS offers an ECN Account type, which stands for Electronic Communication Network. ECN accounts provide direct access to liquidity providers and typically offer tighter spreads. With ECN accounts, FBS may charge a small commission per lot (round turn) on trades in addition to the spreads. The commission rates for ECN accounts at FBS can vary based on the currency pairs traded and other factors. It's advisable to visit FBS's official website or contact their customer support for the most up-to-date commission rates for ECN accounts.

RoboForex

RoboForex is an online forex and CFD broker that provides trading services to clients worldwide. It was established in 2009 and has since grown to become a well-known and reputable broker in the industry.

At RoboForex, the commission and spread structure can vary depending on the type of trading account, the trading platform, and the financial instrument being traded.

Pro-Standard Account: RoboForex offers a Pro-Standard Account type that operates on a spread-only model. There are no separate commissions charged on trades. The costs are incorporated within the spreads, which can vary based on the currency pairs and market conditions.
ECN Accounts: RoboForex provides ECN (Electronic Communication Network) account options. ECN accounts offer direct access to liquidity providers and typically feature tighter spreads. With ECN accounts, RoboForex may charge a small commission per lot (round turn) on trades in addition to the spreads. The commission rates for ECN accounts can vary based on the currency pairs traded and other factors. It's advisable to visit RoboForex's official website or contact their customer support for the most up-to-date commission rates for ECN accounts.
Prime Accounts: RoboForex also offers Prime Account types, which are designed for professional traders. Prime Accounts can have different commission and spread structures, depending on the specific account type and platform chosen. These accounts typically provide access to deeper liquidity and lower spreads.

Comparing Commission Structures Among Top Brokers

When comparing commission structures among top brokers, it's essential to consider multiple factors such as account types, trading instruments, and trading platforms. Here is a general overview of commission structures among some of the top brokers:

Exness:

Standard Account: Exness operates on a spread-only model, where the costs are included within the spreads. There are no separate commissions charged on trades.
Raw Spread Account: Exness offers raw spreads directly from liquidity providers. These accounts charge a small commission per lot (round turn) in addition to the spreads.

XM:

Micro Account: XM's Micro Accounts operate on a spread-only model. There are no separate commissions charged on trades.
XM Zero Account: XM Zero Accounts offer tighter spreads and charge a commission per lot (round turn) in addition to the spreads.

XTB:

Standard Account: XTB's Standard Accounts operate on a spread-only model, where the costs are incorporated within the spreads. There are no separate commissions charged on trades.
Pro Account: XTB's Pro Accounts provide access to lower spreads and charge a commission per lot (round turn) in addition to the spreads.

IG:

Spread Betting and CFD Accounts: IG's commission structure varies depending on the instrument and market being traded. Some markets, such as shares and indices, may have a commission based on a percentage of the trade value or a fixed amount per trade.

Pepperstone:

Razor Account: Pepperstone's Razor Account offers tight spreads with the possibility of a small commission per lot (round turn) on trades, providing access to raw spreads.

It's important to note that commission structures may vary based on trading conditions, account types, and specific instruments. Each broker may have different commission models, and it's recommended to visit the official websites of these brokers or contact their customer support for the most up-to-date and accurate information on commission structures.

Tips for Choosing the Right Broker Based on Commissions

When choosing a broker based on commissions, here are some tips to consider:

Understand Your Trading Style: Assess your trading style and frequency. If you are an active trader who executes numerous trades, a broker with low commissions per trade may be more cost-effective for you. On the other hand, if you are a long-term investor who holds positions for extended periods, the commission structure may be less critical compared to other factors.
Compare Commission Structures: Compare the commission structures of different brokers. Look for transparency in the fee structure and ensure you understand how commissions are calculated. Some brokers charge a fixed commission per trade, while others charge a percentage of the trade value. Consider the impact of these commissions on your trading strategy and profitability.
Consider Spread Costs: In addition to commissions, pay attention to the spreads offered by brokers. Spreads are the difference between the bid and ask prices and can impact your trading costs. Some brokers may have tighter spreads but charge higher commissions, while others may have higher spreads but lower or no commissions. Assess the overall cost, considering both spreads and commissions.
Account Types: Brokers often offer different account types with varying commission structures. For example, they may have standard accounts with no commissions and wider spreads, or premium accounts with tighter spreads but commissions. Evaluate the account types available and choose one that aligns with your trading needs and budget.
Consider Trading Instruments: Different brokers may have varying commission structures for different trading instruments. For example, forex commissions may differ from stock or commodity commissions. Ensure the broker you choose offers competitive commissions for the specific instruments you intend to trade.
Regulatory Compliance: Always prioritize brokers that are regulated by reputable financial authorities. Regulatory bodies impose certain standards and safeguards to protect traders' interests and ensure fair practices. Verify the broker's regulatory status and check if they adhere to industry regulations regarding commissions and fee disclosures.
Additional Factors: While commissions are an essential factor, consider other aspects such as trading platforms, customer support, educational resources, research tools, and the broker's overall reputation in the industry. A reliable trading platform and responsive customer support can greatly enhance your trading experience.

In conclusion, the selection of a forex broker is a pivotal decision for any trader. While factors like trading platform, available currency pairs, and customer support are important, the commission structure should not be overlooked. A broker offering competitive commission rates can substantially enhance the profitability of your trades. By leveraging the insights provided in this article, traders in India can make informed decisions, ensuring they partner with a broker that aligns with their trading goals and budget. Remember, in the world of forex, every saved penny counts towards a more prosperous trading journey.