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Best Low Fees Brokers
Fees are one of the few things an investor or trader can control. A few euros on each order, a monthly inactivity charge or a currency conversion fee may look small, but repeated over years they can take a meaningful share of your returns. The cheapest broker also depends on what you do: a monthly ETF saver, an occasional stock buyer and an active forex trader pay very different kinds of fees.
This ranking compares brokers regulated by at least one Tier-1 authority on the overall cost of using them — trading costs and non-trading fees together.
How this ranking is ordered. Brokers are ranked by their Costs & Pricing rating, which covers both trading and non-trading fees. Our regulation rules still apply: a broker rated below 4.0 for Regulation & Security cannot rank in the top three. This is why Fusion Markets, which has the best cost rating of all, appears in fourth place. Ties are broken by the stronger regulatory rating. The stars on each card show the broker’s overall CT Advisory24 score, which is the same on every page. See our methodology →
Trading 212
Zero commission and almost no account fees
- $0 commission on real stocks and ETFs
- No inactivity, custody or withdrawal fees
- Currency conversion at 0.15%
About Trading 212
Trading 212 is the cheapest way for most investors to buy shares and ETFs. Orders are commission-free, there is no custody or inactivity fee, withdrawals are free, and an account can be opened with almost nothing. The only charge most investors meet is a 0.15% fee when an asset is bought in a different currency from the account, which is low compared with the market, and twelve account currencies help to avoid it altogether. Card and e-wallet deposits are free up to €2,000 in total, after which a 0.7% fee applies, so regular savers usually fund by bank transfer. CFD trading is available on a separate account.
Pros & Cons
Pros
- No commission and virtually no non-trading fees
- Low 0.15% currency conversion with 12 account currencies
Cons
- 0.7% fee on card and e-wallet deposits above €2,000 in total
- Limited product range: no bonds, funds or options
Fees & Funding
- Minimum Deposit
- $1 (Invest/ISA); $10 on CFD account
- EUR/USD Pricing
- Commission-free CFDs, variable spread (shown per instrument)
- US Stock Commission
- $0 on real stocks & ETFs; 0.15% FX conversion fee on non-base-currency assets
- Inactivity Fee
- No
- Withdrawal Fee
- Free
- Funding Methods
- Bank transfer, cards, PayPal, Apple Pay, Google Pay, other e-wallets (0.7% on card/e-wallet deposits above €2,000 total)
Technical Sheet
- Founded
- 2004
- Headquarters
- UK (London) – Trading 212 UK Ltd; founded in Sofia, Bulgaria
- Regulators
- FCA, CySEC, BaFin (via FXFlat), ASIC, FSC (Bulgaria)
- Markets
- ~11,000 real stocks & ETFs on 16 exchanges, spot crypto; CFDs on separate account; no bonds, funds, options or futures
- Platforms
- Trading 212 web and mobile app (no MetaTrader, no desktop app)
- Max Retail Leverage
- 1:30 (CFD account only)
- Account Currencies
- 12: GBP, USD, EUR, CAD, CHF, DKK, NOK, PLN, SEK, CZK, RON, HUF
- Demo Account
- Yes
- Customer Support
- 24/7 live chat and email; no phone support
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
IC Markets
Raw-spread trading at wholesale prices
- Raw account: 0.0 pips + $3.50 per lot per side
- No inactivity fee
- Free withdrawals by card and e-wallet
About IC Markets
IC Markets keeps trading costs down for forex and CFD traders by passing on raw market spreads and charging a flat commission. For active traders this structure is usually cheaper than a spread-only account, and costs are easy to calculate in advance. Non-trading fees are minimal too: there is no inactivity fee and card and e-wallet withdrawals are free, though international bank transfers cost AUD 20. Low prices come with a regulatory caveat worth understanding: IC Markets holds ASIC and CySEC licences but no FCA licence, and many clients outside Australia and the EU are served by an offshore entity with lighter protection.
Pros & Cons
Pros
- Very low all-in trading costs for active forex and CFD traders
- No inactivity fee and free card and e-wallet withdrawals
Cons
- $200 minimum deposit
- No FCA licence; many international clients are served offshore
Fees & Funding
- Minimum Deposit
- $200
- EUR/USD Pricing
- 0.0 pips + $3.50 per lot per side (Raw); commission-free Standard account
- US Stock Commission
- Stock CFDs only: $0.02/share (US), 0.10% (UK)
- Inactivity Fee
- No
- Withdrawal Fee
- Free (cards, e-wallets); international bank transfer AUD 20
- Funding Methods
- Cards, bank wire, PayPal, Skrill, Neteller, BPAY, POLi and more
Technical Sheet
- Founded
- 2007
- Headquarters
- Australia (Sydney)
- Regulators
- ASIC, CySEC, FSA (Seychelles), SCB (Bahamas), CMA (Kenya)
- Markets
- Forex (61 pairs) and CFDs on indices, commodities, stocks, bonds, futures, crypto; no real stocks
- Platforms
- MT4, MT5, cTrader, TradingView
- Max Retail Leverage
- 1:30 (ASIC/CySEC); higher via offshore entities
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
- Demo Account
- Yes
- Customer Support
- 24/7 live chat, email, phone
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Interactive Brokers
Lowest costs for larger and frequent orders
- US stocks from $0.005 per share (min $1)
- Forex at 0.20 basis points of trade value (min $2)
- No inactivity or account fees
About Interactive Brokers
Interactive Brokers is the low-cost leader for investors and traders who place larger orders or trade often across several markets. Its per-share pricing on US stocks and its commission-based forex pricing come close to what professionals pay, and holding cash in several currencies avoids repeated conversion costs. There are no account or inactivity fees, and uninvested cash can earn interest. The structure favours size: minimum commissions mean very small orders are relatively expensive, and only the first withdrawal each month is free. Investors who buy a few hundred euros of ETFs at a time may pay less at a commission-free app.
Pros & Cons
Pros
- Professional-level pricing on stocks, options, futures and forex
- No account or inactivity fees and low currency conversion
Cons
- Minimum commissions make very small orders relatively costly
- Only one free withdrawal per month
Fees & Funding
- Minimum Deposit
- $0
- EUR/USD Pricing
- Commission-based: 0.20 bps of trade value (min $2), no spread mark-up
- US Stock Commission
- $0.005/share, min $1 (IBKR Pro Fixed); $0 on IBKR Lite (US residents)
- Inactivity Fee
- None (no maintenance fee)
- Withdrawal Fee
- One free withdrawal per month; then e.g. USD 10 / EUR 8 by wire, 1 by ACH/SEPA
- Funding Methods
- Bank wire and electronic transfers (ACH, SEPA, BACS); checks in the US
Technical Sheet
- Founded
- 1977 (brokerage since 1993)
- Headquarters
- Greenwich, Connecticut, USA
- Regulators
- SEC, CFTC, FINRA (US); FCA; Central Bank of Ireland; ASIC; CIRO; SFC; SEBI; MAS; Kanto LFB (Japan)
- Markets
- Stocks, ETFs, options, futures, forex, bonds, funds — 175+ market centres
- Platforms
- IBKR Desktop, Trader Workstation (TWS), Client Portal, IBKR Mobile, GlobalTrader, IMPACT, APIs
- Max Retail Leverage
- 1:30 on major FX for retail clients (EU/UK/AU entities)
- Account Currencies
- 29 trading currencies (varies by entity)
- Demo Account
- Yes — free paper trading account
- Customer Support
- Phone, email and live chat — 24/5, plus limited Saturday hours
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Fusion Markets
The lowest commissions in this ranking
- Zero account: 0.0 pips + $2.25 per lot per side
- No minimum deposit, no inactivity fee, free withdrawals
- MT4, MT5, cTrader and TradingView
About Fusion Markets
Fusion Markets has the lowest trading costs of any broker we rate. Its Zero account charges $2.25 per lot per side on raw spreads, well below the usual $3.50, and there is no minimum deposit, no inactivity fee and no withdrawal fee on its side. Platform choice is broad, with MetaTrader, cTrader and TradingView. It ranks fourth rather than first because of our regulation rule: Fusion Markets is licensed by ASIC in Australia, but international clients are mostly served by entities in Vanuatu and the Seychelles, and there is no investor compensation scheme. Its Regulation & Security rating of 3.4 therefore keeps it out of the top three.
Pros & Cons
Pros
- Lowest per-lot commission among the brokers we rate
- No minimum deposit and no account or withdrawal fees
Cons
- International clients mostly served by offshore entities
- No investor compensation scheme
Fees & Funding
- Minimum Deposit
- $0
- EUR/USD Pricing
- 0.0 pips + $2.25 per lot per side (Zero); commission-free Classic account
- US Stock Commission
- Stock CFDs (MT5 only), fees in spread
- Inactivity Fee
- No
- Withdrawal Fee
- Free (intermediary banks may charge on international wires)
- Funding Methods
- Bank transfer, cards, Neteller, PayPal
Technical Sheet
- Founded
- 2019 (brand launch; licensed entity FMGP Trading Group est. 2010)
- Headquarters
- Australia (Melbourne)
- Regulators
- ASIC, VFSC (Vanuatu), FSA (Seychelles)
- Markets
- Forex (90 pairs), CFDs on indices, commodities, stocks, crypto; no real stocks
- Platforms
- MT4, MT5, cTrader, TradingView
- Max Retail Leverage
- 1:30 (ASIC); higher via offshore entities
- Account Currencies
- AUD, USD, EUR, GBP, SGD, CHF, CZK, DKK, HUF, NOK, PLN, SEK (+ others)
- Demo Account
- Yes
- Customer Support
- 24/7 live chat, email, phone
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Pepperstone
Low trading costs with top-tier regulation
- Razor account: 0.0 pips + $3.50 per lot per side
- No inactivity fee and no minimum deposit by bank transfer
- Regulated by the FCA, ASIC, CySEC, BaFin and DFSA
About Pepperstone
Pepperstone combines low trading costs with one of the strongest regulatory profiles among forex and CFD brokers. The Razor account offers raw spreads and a fixed commission, while the Standard account wraps everything into the spread, and neither carries an inactivity fee. Deposits and most withdrawals are free, with international bank transfers the main exception. For traders who want low costs without moving to an offshore entity, it offers a strong balance: the commission is in line with IC Markets, and clients in the UK, EU and Australia are covered by local regulation and, where applicable, compensation schemes.
Pros & Cons
Pros
- Low raw-spread costs under FCA, ASIC and EU supervision
- No inactivity fee and free deposits
Cons
- International bank withdrawals cost about $20
- CFDs only — not suited to long-term share investing
Fees & Funding
- Minimum Deposit
- $0 by bank transfer (about £10 by card/Apple Pay)
- EUR/USD Pricing
- Razor: raw from 0.0 pips + $3.50/lot per side; Standard: commission included in spread
- US Stock Commission
- US share CFDs from $0.02 per share
- Inactivity Fee
- None
- Withdrawal Fee
- Free, except international bank transfers ($20)
- Funding Methods
- Cards, Apple Pay, Google Pay, bank transfer
Technical Sheet
- Founded
- 2010
- Headquarters
- Melbourne, Australia
- Regulators
- FCA, ASIC, CySEC, BaFin, DFSA, CMA (Kenya), SCB (Bahamas)
- Markets
- 1,350+ CFDs: forex, indices, shares, ETFs, commodities, crypto
- Platforms
- Pepperstone platform (web & app), MT4, MT5, cTrader, TradingView
- Max Retail Leverage
- 1:30 on major FX for retail clients (EU/UK/AU entities)
- Account Currencies
- AUD, USD, EUR, GBP, SGD, HKD
- Demo Account
- Yes
- Customer Support
- Phone, email and live chat — 24h Mon–Fri, 18h at weekends
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Trading and Non-Trading Fees Compared
| Broker | Main trading cost | Inactivity fee | Withdrawals | Minimum deposit |
|---|---|---|---|---|
| Trading 212 | $0 on stocks & ETFs; 0.15% FX conversion | None | Free | $1 |
| IC Markets | $3.50 per lot per side (Raw) | None | Free by card/e-wallet; AUD 20 international wire | $200 |
| Interactive Brokers | $0.005 per US share (min $1); FX 0.20 bps | None | 1 free per month | $0 |
| Fusion Markets | $2.25 per lot per side (Zero) | None | Free | $0 |
| Pepperstone | $3.50 per lot per side (Razor) | None | Free; about $20 international wire | $0 by bank transfer |
Spreads, overnight financing and third-party bank charges are not included. Fees can vary by entity and country of residence. Data checked November 2026.
How to Find the Cheapest Broker for You
Start from your own activity. List what you actually do in a typical month — how many orders, of what size, in which markets and currencies — and price that activity at each broker. A broker that is cheapest for a monthly €200 ETF purchase can be expensive for a €20,000 stock trade, and the other way round.
Do not ignore non-trading fees. Inactivity charges, withdrawal fees, card deposit surcharges and custody fees hit investors who trade rarely. All five brokers in this ranking charge no inactivity fee, which is one of the reasons they score well on costs.
Weigh cost against protection. The lowest prices are often offered through offshore entities. Saving a dollar per trade is rarely worth giving up the investor protection of a strong regulator, which is why our ranking keeps weakly regulated brokers out of the top three.
Low fees do not reduce investment risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage, and the value of shares and ETFs can fall as well as rise.
Frequently Asked Questions (FAQ)
What fees should I look at besides commission?
The main ones are spreads, currency conversion, overnight financing on leveraged positions, inactivity fees, withdrawal fees and, at some brokers, custody or account fees. For long-term investors, conversion and custody fees often matter more than commissions; for active traders, spreads and commissions dominate.
How do zero-commission brokers make money?
Usually through spreads, currency conversion fees, interest earned on clients’ uninvested cash, securities lending and, on CFD accounts, overnight financing. None of this is hidden, but it is worth reading the fee schedule so that the real cost of your activity is clear.
Is a raw-spread account always cheaper than a standard account?
For active traders on major pairs, usually yes: the raw spread plus commission tends to cost less than the wider spread of a commission-free account. For someone who trades rarely or in very small sizes, the difference is small and the standard account is simpler to follow.
Why is the cheapest broker not first in this ranking?
Low cost cannot make up for weak regulation. Under our methodology a broker rated below 4.0 for Regulation & Security cannot occupy the top three positions in any ranking. Fusion Markets has the lowest commissions we have rated, but most international clients are served by offshore entities, so it ranks fourth.
Can fees change after I open an account?
Yes. Brokers update their fee schedules from time to time and must notify clients of changes in advance. We review fees periodically and update our data, but it is always worth checking the current schedule on the broker’s website before you trade.
About the Author – Claudio Tuteri
Economist and Founder of CT Advisory24, an independent project focused on broker analysis, financial education, and transparent comparison of regulated brokers.
Claudio defines the evaluation methodology, reviews broker rankings, and ensures consistency across analyses based on regulation, costs, platform quality, and investor protection.