Cheapest Forex Broker 2026 — Real Cost Comparison

Every broker claims to be cheap. We compare what you actually pay per trade at 7 major brokers — spread + commission + everything else. No marketing, just math.

Why "Cheapest" Is More Complicated Than It Sounds

Brokers use different pricing models to obscure their true costs. Some advertise "zero commission" but charge wide spreads. Others show tight spreads but add hefty commissions. A few have hidden fees like inactivity charges or withdrawal costs. To find the genuinely cheapest broker, you need to calculate the all-in cost per trade — that is, the total amount you pay to open and close one standard lot.

We calculated all-in costs using published average EUR/USD spreads plus round-turn commissions (where applicable). We focused on each broker's best ECN/raw spread account since these are what active traders should be using. For transparency, we also show Standard account costs for traders who prefer commission-free pricing. All data is current as of February 2026.

All-In Cost Per Lot — EUR/USD (Ranked Cheapest to Most Expensive)

Note: Tickmill has the lowest raw commission at $4.00/lot, making it the cheapest by commission alone. However, IC Markets with our discount offers tighter published average spreads (0.02 pips vs 0.1 pips) and deeper liquidity ($20B+ daily volume). When factoring in spread quality, the true all-in cost difference is smaller than the table suggests. Read our detailed IC Markets vs Tickmill comparison.

The key insight: IC Markets with TradersFXPartner's commission discount ranks #2 for all-in costs, just $1.50 behind Tickmill. But IC Markets offers more instruments (2,200+ vs 600+), more platforms (MT4, MT5, cTrader, TradingView), and deeper liquidity. For most traders, the slightly higher cost is offset by the superior overall trading environment.

Standard Account Costs (Commission-Free)

Some traders prefer commission-free Standard accounts for simplicity. Here is how they compare — but spoiler: they are all more expensive than raw accounts for active traders.

Even the cheapest Standard account (IC Markets at $8.00/lot equivalent) costs 23% more than IC Markets Raw Spread with our discount ($6.50/lot). Unless you trade very small volumes, the raw spread account with commission is always the better choice.

What This Means in Real Money

The difference between IC Markets + discount ($6.50/lot) and a mid-range broker ($8.00/lot) is $1.50 per lot. Here is what that means at different trading volumes:

These savings are real, recurring, and compound over time. A trader saving $1,800/year can reinvest that into their trading capital — or simply take it as profit. High-frequency scalpers save even more; see our scalping cost analysis for daily breakdowns. Either way, broker costs are one of the few things in trading you can directly control. Choose the cheapest option that meets your needs.

Our Verdict — The Cheapest Forex Broker in 2026

IC Markets with TradersFXPartner's commission discount is among the cheapest ways to trade forex in 2026. The combination of industry-leading raw spreads and discounted commissions produces an all-in cost of $6.50/lot — competitive with any major regulated broker.

Tickmill's Pro account is the cheapest by raw commission ($5.00/lot all-in), but IC Markets offers more instruments (2,200+), more platforms, and deeper liquidity. For a full comparison, see IC Markets vs Tickmill.

If you are currently paying $8.00/lot or more to trade EUR/USD, you are leaving money on the table. Open an IC Markets account through our referral link, choose the commission discount, and start saving from your very first trade.

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