Cheapest Brokers

Why Are These The Best Brokers For Affordable Day Trading?

Comparison Of Costs At Our Cheapest Brokers

How Safe Are These Cheap Brokers?

Mobile Trading Comparison

Are The Top Brokers With Low Fees Good For Beginners?

Are The Top Brokers With Low Fees Good For Advanced Traders?

Compare The Ratings Of The Cheapest Day Trading Brokers

How We Chose The Cheapest Brokers

Understanding The Fees You’ll Pay To Trade

Pros And Cons Of Low-Cost Brokers

Written By thinkforexbrokers
Updated: August 13, 2025

Hey, if you’re into active trading, keep an eye on costs. Trust me, after trading full-time, I’ve learned that fees and commissions can really eat into your profits, no matter if you’re just starting out or if you’ve been in the game for years.

Good news! We did the homework and found the most affordable brokers as of August 2025. Our team put the top low-cost options to the test and made a list of the best discount brokers they have low fees and great trading platforms.

Lowest Cost Brokers

IC Markets

70.64 % of retails investor accounts lose money

Trade Nation

Trading leveraged product is risky

Pepperstone

75.5 % of retails CFD accounts lose money

Vantage

Trading leveraged product is risky

Exness

74-89% of retails CFD accounts lose money

FXCC

75.5 % of retails CFD accounts lose money

Why Are These The Best Brokers For Affordable Day Trading?

Here is a summary of why we think these are the top low-cost brokers:

IC Markets – IC Markets is our pick for the cheapest broker in Pakistan in 2025. They’re a well-known forex and CFD broker because they have great prices, lots of stuff to trade, and good tech. They started up in 2007 in Australia and have grown to serve more than 180,000 clients in over 200 countries. Plus, they’re regulated by ASIC, CySEC, and FSA.
Trade Nation – Trade Nation’s a well-regulated broker for FX and CFDs in places like the UK and Australia. They give you tight fixed and changing spreads on over 1000 assets. They also have solid platforms and training guides. And if you’re stuck for ideas, you can use the Signal Centre.
Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
Vantage – Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
Exness- Exness, which started back in 2008, is still a well-regarded broker. They’re known for having a ton of account currencies (over 40!) and an increasing amount of CFD instruments. Plus, their online platform is easy to use and has handy tools like currency converters and trading calculators.
FXCC – FXCC is a broker that’s been around since 2010, giving people ways to trade online without spending a lot. They’re based in Nevis and follow CySEC rules. What’s cool about them is their ECN setup for trading, they don’t ask for any money to start an account, and you can get your account up and running super quick – in under 5 minutes.

Comparison Of Costs At Our Cheapest Brokers

Find the right discount brokerage for you with our comparison of key costs for active traders:

Broker	Cost Rating	Fee on EUR/USD	Fee on FTSE	Fee on Stocks	Fee on Oil	Fee for Inactivity
IC Markets	4.6	0.02	1.0	0.02	0.03	$0
Trade Nation	4.5	Variable	From 0.4	Variable	From 3.0	$0
Pepperstone	4.5	0.1	1.0	0.02	2.5	$0
Vantage	4.4	0.0	1.0	0.01	0.01	$0
Exness	3.8	0.0	15.2	0.5 (Apple Inc.)	0.0	$0
FXCC	4	0.2	Variable	NA	0.03	$5

How Safe Are These Cheap Brokers?

See how dependable the cheapest day trading brokers are and how they help safeguard your account:

Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts
IC Markets	4.6	✕	✓	✓
Trade Nation	4.3	✕	✓	✓
Pepperstone	4.6	✕	✓	✓
Vantage	4.6	✕	✓	✓
Exness	3.8	✕	✓	✓
FXCC	3.3	✕	✓	✓

Mobile Trading Comparison

See how good these brokers are for low-cost day trading on mobile:

Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App
IC Markets	iOS & Android	3.1	4.2	✕
Trade Nation	iOS & Android	4.1	3.5	✕
Pepperstone	iOS & Android	4.4	4.1	✕
Vantage	iOS & Android	3.6	3.9	✕
Exness	iOS & Android	4.4	4.3	✕
FXCC	iOS & Android	4.8	4.4	✕

Are The Top Brokers With Low Fees Good For Beginners?

Beginners should use brokers with minimal fees that allow trading with virtual money and support new traders:

Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating
IC Markets	✓	$200	0.01 Lots	3.5	4.5
Trade Nation	✓	$0	0.1 Lots	3.8	4.5
Pepperstone	✓	$0	0.01 Lots	4	4.6
Vantage	✓	$50	0.01 Lots	4	4.4
Exness	✓	Varies based on the payment system	0.01 Lots	1.5	3.8
TopFX	✓	$50	0.01 Lots	0.5	3.5

Are The Top Brokers With Low Fees Good For Advanced Traders?

See how good these cheap trading platforms are for advanced traders:

Broker	Automated Trading	VPS	AI	Pro Account	Leverage	Low Latency	Extended Hours
IC Markets	Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade	✓	✕	✕	1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	✓	✕
Trade Nation	Expert Advisors (EAs) on MetaTrader	✕	✕	✕	1:500 (entity dependent)	✕	✕
Pepperston e	Expert Advisors (EAs) on MetaTrader	✓	✓	✓	1:30 (Retail), 1:500 (Pro)	✓	✕
Vantage	Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader	✓	✕	✕	1:2000	✕	✕
Exness	Expert Advisors (EAs) on MetaTrader	✓	✕	✓	1:Unlimited	✓	✕
TopFX	Expert Advisors (EAs) on MetaTrader, cBots on cTrader	✓	✕	✕	1:500	✓	✕

Compare The Ratings Of The Cheapest Day Trading Brokers

Uncover how the top inexpensive brokers score in core areas according to our hands-on evaluations:

Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support
IC Markets	4.6	4	3.5	3.7	4.6	4	4	3.5	4.5
Trade Nation	4.3	4.3	3.5	3.8	4.5	4.5	3.8	3.8	4.5
Pepperstone	4.6	4.4	3.8	4.3	4.5	4	4.3	4	4.6
Vantage	4.6	4.3	4.5	3.8	4.4	4.5	4	4	4.4
Exness	3.8	3.8	3.5	4.4	3.8	4.3	4.3	1.5	3.8
TopFX	3	3	3	4	4	3	3.5	0.5	3.5

Why Choose IC Markets For Low-Cost Trading?

“IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.”

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
Regulator	ASIC, CySEC, FSA, CMA
Platforms	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
Minimum Deposit	$200
Minimum Trade	0.01 Lots
Leverage	1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.

The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

Why Choose Trade Nation For Low-Cost Trading?

“Trade Nation is great for new traders, especially if you want lots of different markets on an easy platform. They don’t ask for a minimum deposit, funding is free, and their learning stuff rocks.“

Bonus Offer	200 Sign-Up Reward Points
Demo Account	Yes
Instruments	Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Spread Betting, Cryptos (Bahamas Entity Only)
Regulator	FCA, ASIC, FSCA, SCB, FSA
Platforms	MT4
Minimum Deposit	$0
Minimum Trade	0.1 Lots
Leverage	1:500 (entity dependent)
Account Currencies	USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK

Why Choose Pepperstone For Low-Cost Trading?

“Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support.”

Demo Account	Yes
Instruments	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Regulator	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Platforms	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:500 (Pro)
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
Pepperstone has scooped multiple DayTrading.com annual awards over the years, most recently 'Best Overall Broker' in 2025 and 'Best Forex Broker' runner up in 2025.

Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers who focus on this area, with no option to invest in real coins.

Why Choose Vantage For Low-Cost Trading?

“Vantage is still a great pick for CFD traders wanting a broker that’s closely watched and offers the dependable MetaTrader platforms. It’s super easy to sign up, and with just a $50 minimum deposit, you can get into day trading fast..”

Bonus Offer	50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
Regulator	FCA, ASIC, FSCA, VFSC
Platforms	ProTrader, MT4, MT5, TradingView, DupliTrade
Minimum Deposit	$50
Minimum Trade	0.01 Lots
Leverage	1:2000
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN

Why Choose Exness For Low-Cost Trading?

“After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs.”

Demo Account	Yes
Instruments	CFDs on Forex, Stocks, Indices, Commodities, Crypto
Regulator	FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
Platforms	Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
Minimum Deposit	Varies based on the payment system
Minimum Trade	0.01 Lots
Leverage	1:Unlimited
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY

Excellent range of account types for all experience levels, including Cent, Pro plus the introduction of Raw Spread, ideal for day traders.
Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.
Exness Terminal offers a streamlined experience for beginners with dynamic charts while setting up watchlists is a breeze.

Exness has expanded its range of CFDs and added a copy trading feature, but there are still no real assets such as ETFs, cryptocurrencies or bonds
Retail trading services are unavailable in certain jurisdictions, such as the US, UK and EU, limiting accessibility compared to top-tier brokers like Interactive Brokers.
Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.

Why Choose TopFX For Low-Cost Trading?

“TopFX is great for day trading because it’s super fast, with trades happening in under 25 milliseconds. Plus, you get to use cool charting tools like MT4 and cTrader. The spreads are tight, and commissions are low, which can really help active traders save money.“

Bonus Offer	100% Universal Bonus T&Cs Apply
Demo Account	Yes
Instruments	CFDs, Forex, Shares, Indices, Metals, Energies, ETFs, Cryptocurrency
Regulator	CySEC, FSA, BVI
Platforms	MT4, MT5, cTrader, AutoChartist, TradingCentral, Quantower
Minimum Deposit	$50
Minimum Trade	0.01 Lots
Leverage	1:500
Account Currencies	USD, EUR, GBP

Active traders get excellent trade execution with speeds under 25ms, combined with consistent pricing, no slippage or requotes, and fast deposits and withdrawals during testing.
TopFX continues to deliver first-class support following years of real-money trading with responses on live chat in minutes and email replies in 24 hours for technical assistance.
TopFX is committed to supporting a diverse range of day traders, including those who prefer manual, algorithmic, and strategy-based trading with a choice of flexible accounts.

TopFX supports three platforms (cTrader, MT4 and MT5), but there's no option to trade on the increasingly popular TradingView. The lack of a proprietary platform for beginner traders is also an entry barrier.
Despite a growing selection of 600+ instruments, you can't invest directly in real assets, such as stocks, ETFs, and crypto, and TopFX does not offer interest on uninvested cash like alternatives such as IBKR.
Although it produces in-house market analysis content, notably the Daily Market Digest, and includes Autochartist and Trading Central, the woeful educational offering is limiting for beginners, especially compared to category leaders like XTB.

How We Chose The Cheapest Brokers

We ranked brokers with the lowest trading fees using two core metrics that draw on nearly 300 data points:

Cost Rating: We scored each broker from 1 to 5 for their trading fees across popular markets, including forex, stocks, indices, commodities, and CFDs. We then compared everything against industry standards.
Overall Rating: We gave each broker a 1 to 5 score after testing every inch of their offering. This reflects our belief that low costs must pair with an outstanding trading environment for the best overall experience.

Why Cost Matters In Trading

With things like CFDs and forex, which tons of traders use for quick moves, keeping track of every cent is key. Trading’s cool because you could turn a little cash into a lot, but crazy fees can kill your profits and leave you with next to nothing.

As a day trader making frequent trades, minimizing trading costs is crucial to achieving profitability.

For example:

A trader executing 50 trades per month with a $10 commission per trade will spend $500 just on commissions.
Similarly, wide spreads on popular currency pairs like EUR/USD can inflate costs for scalpers and high-frequency traders.

Understanding The Fees You’ll Pay To Trade

Let’s break down the primary costs like spreads and commissions, which are often the most visible costs of short-term trading:

Spreads

This is the difference between the bid (selling) and ask (buying) price of an asset.

Tight spreads (eg 0.0-0.5 pips for EUR/USD) are ideal for traders, especially scalpers and day traders making frequent transactions.
Brokers may offer variable or fixed spreads. Variable spreads tend to be lower during normal market conditions but widen during volatility. Fixed spread brokers offer the same price regardless of market conditions.

Commissions

You pay these fees for each trade, and it’s usually on top of the standard spread. Commissions? Pros often like them because they offer clear, steady prices.

Overnight/Swap Fees

While these can generally be avoided by day traders, if you hold positions overnight, you’ll incur swap fees reflecting the interest rate differential between two currencies.

Positive swaps: You may earn interest if you hold higher-yielding currency.
Negative swaps: Most positions result in a fee, which can be substantial for long-term trades.

Other Hidden Fees

These are less obvious but can still have a significant impact:

Inactivity Fees: Some brokers charge monthly fees for dormant accounts. Look for brokers, such as Pepperstone, that explicitly avoid such charges.
Withdrawal Fees: Fees for withdrawing funds vary; some brokers charge a percentage or a fixed amount per transaction. Look for brokers, such as Eightcap, that don’t charge internal withdrawal fees.
Currency Conversion Fees: These apply when trading in a currency other than your account’s base currency. If you frequently trade in this currency, opt for brokers with multi-currency accounts, such as Swissquote, to minimize conversion losses.
Leverage Considerations: Leverage lets you control larger positions with less capital, magnifying both profits and losses. Retail traders typically get up to 1:30 leverage in regulated markets (EU, UK, Australia) or up to and beyond 1:500 in less regulated areas. While it increases exposure, it also raises the risk of significant losses and may include extra risk management fees.

Why “Cheap” Isn’t Always Better

While finding a low-cost broker is essential, cheaper isn’t always better. Here’s why:

Hidden Costs: We’ve observed an increasing number of brokers with “zero commission” models, such as Robinhood and Freetrade, but they sometimes widen spreads or impose high overnight fees to compensate.
Limited Features: Some low-cost brokers cut corners, offering fewer research tools, educational resources, or slower customer service.
Lack Of Security: A broker advertising unrealistically low fees might skimp on regulatory compliance, putting your funds at risk.

What To Look For In A Low-Cost Broker

A “cheap” trading platform must still meet high standards of transparency, flexibility, security, and usability to support a positive trading experience.

Based on my many years of trading, here’s what to prioritize:

Transparency: Transparent brokers provide upfront details about their costs, allowing traders to make informed decisions. Key areas to check:
- Spreads and Commissions: Look for trading platforms offering clearly defined rates (eg spreads from 0.0 pips with commissions around $3.5 per lot).
- Additional Fees: Ensure clarity on potential charges like:
  - Inactivity fees.
  - Deposit/withdrawal fees and currency conversion rates.
  - Regulatory documents and website FAQs should outline all possible fees.
Account Flexibility: Options to suit different trading styles. Common options include:
- Standard Accounts: Ideal for beginner traders with zero or low commissions and slightly wider spreads.
- Raw Spread Accounts: Suitable for advanced day traders and professional traders, offering interbank spreads (eg starting at 0.0 pips) paired with a flat commission.
- Micro Accounts: Allow trading with smaller positions (eg 0.01 lots), perfect for those starting with limited capital.

Pros And Cons Of Low-Cost Brokers

Tight spreads and low or zero commissions allow traders to retain more profits, which is particularly beneficial for day traders who make frequent trades. For example, trading like IC Markets providing raw spreads starting at 0.0 pips with minimal commission fees are ideal for high-frequency trading.
Scalpers, who rely on minute price movements, benefit significantly from brokers with low spreads and fees, such as Fusion Markets. Traders executing dozens of trades daily save considerably when commissions are low or non-existent.
Affordable options like micro or standard accounts let beginners enter the market with lower upfront costs. Lower minimum deposits (some brokers like XM allow as little as $5) encourage broader participation in trading.
Many budget brokers like FBS pride themselves on clear, upfront fee structures, helping traders avoid surprises.

Some low-cost brokers like FXCC may sacrifice advanced features like market analysis tools, trading signals, or educational resources to maintain competitive pricing. Full-featured platforms like TradingView integrations may be absent or cost extra.
I’ve seen that cost-cutting can extend to customer service. Traders may experience slower response times or limited support hours compared to premium brokers. For example, some brokers like RedMars only offer basic email or ticket-based support rather than 24/7 live chat.
While spreads and commissions may appear low, hidden fees like inactivity charges, withdrawal costs, or currency conversion fees can add up over time. Carefully read the fee structure to avoid unpleasant surprises.
Not all low-cost brokers are regulated by top-tier authorities, potentially exposing traders to greater risk. Always prioritize brokers regulated by ‘green tier’ entities in DayTrading.com’s Regulation & Trust Rating like ASIC (Australia) or FCA (UK), even if their costs are slightly higher.

Bottom Line

When picking a cheap broker for short-term trades, don’t just look at the price tag. Think about what you’re actually getting. Lots of brokers are trying to be discount places with super-low fees, but that’s not the whole story. It’s just as crucial to find a brokerage that fits how you trade, is easy to use, and keeps your money safe with good regulation. That’s why our rankings mix price with how good the whole trading setup is.