Broker Fee Comparison Calculator

Broker Fee Comparison Tool

This calculator estimates your monthly spread and commission costs. You choose the brokers, read the account and entity shown, and set your pair, account currency, lots per trade, and completed trades. I check each record’s scope first. FP Markets covers six pairs and four account currencies, while IC Markets covers EUR/USD in a USD account. See our low commissions guide and lowest spreads page.

Comparable raw accounts on EUR/USD

This comparison covers just two verified accounts on one scenario, EUR/USD in a USD account at one standard lot, so I treat it as a first filter rather than a market wide cheapest ranking.

Each figure equals the published average EUR/USD spread multiplied by US$10 per pip, plus opening and closing commission, for one standard lot in a USD account. That gives US$7 for FP Markets and US$8 for IC Markets. The FP Markets record was captured 28 September 2026 and the IC Markets record 7 October 2026. These are historical published figures, not independently tested spreads.

1. FP Markets. US$7.00 per completed trade. Raw, MT4 and MT5. First Prudential Markets Limited. 0.1 pips published average. US$6.00 opening and closing commission. Spread source 28 Sept 2026. Commission source 28 Sept 2026.
2. IC Markets. US$8.00 per completed trade. Raw Spread, MT4 and MT5. Raw Trading Ltd. 0.1 pips published average. US$7.00 opening and closing commission. Spread source 7 Oct 2026. Commission source 7 Oct 2026.

Only accounts with a matching entity, platform, average spread, and commission basis are comparable. Accounts or brokers without a verified record on that basis are left out rather than shown as free or zero.

How to Use the Forex Calculator

1. Choose your brokers. Each has one fixed named account, shown with its trading entity. You compare the FP Markets Raw MetaTrader account, under First Prudential Markets Limited, against the IC Markets Raw Spread MetaTrader account, under Raw Trading Ltd. Both entities are in Seychelles.

2. Set your pair and account currency. The FP Markets record covers EUR/USD, AUD/USD, EUR/GBP, GBP/USD, USD/JPY, and USD/SGD, with commission in USD, AUD, EUR, and GBP. The IC Markets record covers EUR/USD in a USD account. Where no verified record exists the tool shows Not comparable, never an inferred conversion.

3. Enter lots per trade and completed trades. A completed trade is one opening and one closing. The spread cost is counted once per completed trade. Commission in these records is quoted per side and applies to both sides of a completed trade.

4. Read your monthly estimate. It multiplies lots per trade by completed trades, applying the recorded spread cost plus the round turn commission. A standard lot is 100,000 base currency units, and one pip on EUR/USD per standard lot is US$10. I read the estimate as a first filter and confirm each broker’s current account terms before acting on it.

For pip values on any pair, try the pip value calculator, and see all our calculators in one place.

If your account is held in GBP, I would set GBP first, because USD rows are not your terms.

How changing trade volume changes the estimate

Both examples use 1 standard lot on EUR/USD, and I keep the scope matched. FP Markets publishes a 0.1 pip average on its Raw MetaTrader account, at US$3 per side and US$6 round turn, captured 28 September 2026. At 20 completed trades the spread is US$20, commission US$120, monthly estimate US$140, and at 40 trades US$280. IC Markets publishes a 0.1 pip average on its Raw Spread MetaTrader account, at US$3.50 per side and US$7 round turn, captured 7 October 2026. At 20 trades the spread is US$20, commission US$140, total US$160, and at 40 trades US$320.

Using the Comparison in Your Broker Research

Our team recorded the pricing from each broker’s published pages and made no fresh independent spread measurement, so I check current account terms before comparing figures. FP Markets figures come from First Prudential Markets Limited’s forex spreads page in Seychelles, captured 28 September 2026. IC Markets figures come from Raw Trading Ltd’s raw spread account page in Seychelles, captured 7 October 2026. Our forex fees methodology and commissions methodology explain how we record figures. See our FP Markets review and our IC Markets review.

What the Estimate Excludes

The base cost covers spread and commission only. It excludes swaps, slippage, currency conversion charges, funding, inactivity fees, and other broker charges, so your real monthly cost can differ. Before I compare totals, I check these excluded charges. Where a broker has no verified record for a pair, account currency, spread, or commission basis, the tool shows Not comparable rather than a zero.

Overnight financing

Overnight financing is not included. The option to add it stays switched off until matching dated directional rates, units, currency, and a rollover calendar are on record, because no swap rate records yet meet those requirements.

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