Question 1

What does the calculator include in the cost?

Accepted Answer

The calculator includes spread cost (the bid-ask difference paid on every trade) and overnight financing (the daily cost of holding a leveraged position past market close). It does not include inactivity fees, withdrawal fees, or currency conversion charges, which vary and are less predictable.

Question 2

Why are the costs shown as indicative?

Accepted Answer

Broker spreads are variable — they widen during volatile markets, low-liquidity periods, and around major news events like NFP or central bank announcements. The figures shown are representative of typical conditions on standard accounts. Your actual cost may be higher or lower.

Question 3

What is overnight financing?

Accepted Answer

Overnight financing (also called swap or rollover) is the cost of holding a leveraged CFD or spread bet position past the daily market close. It is calculated as a daily proportion of an annual rate, which is typically linked to central bank interest rates plus a broker margin. Holding positions for multiple nights compounds this cost significantly.

Question 4

Which broker is cheapest for forex trading?

Accepted Answer

For forex, Interactive Brokers and Capital.com typically have the lowest all-in costs on standard accounts. Pepperstone's Razor account can be competitive for high-volume traders due to raw spreads, but includes a per-lot commission. The cheapest option depends on your trade size, frequency, and whether you hold overnight.

Question 5

Does a low spread always mean a low cost?

Accepted Answer

Not always. Some brokers advertise very low or zero spreads but charge an explicit commission per lot, or earn through wider spreads at certain times of day. A complete cost comparison should include spread, commission, and overnight financing — not just the headline spread figure.

Question 6

Are raw or commission accounts worth it?

Accepted Answer

For active traders placing 20+ trades per month, a raw spread account with per-lot commission (like Pepperstone Razor or FP Markets Raw) can be cheaper overall. For lower-frequency traders, a standard spread-only account is usually simpler and often comparable in cost.

What does your trade actually cost?

Configure your trade

Cost comparison — EUR/USD

How to use these results

Intraday traders

Swing traders

Comparing accounts

Frequently Asked Questions