Forex Broker Cost Calculator: Compare 27 FCA Brokers

How account style changes the ranking

Account style reorders this table; volume does not. Both costs here are charged per lot, so raising your monthly volume multiplies every broker's total by the same figure and leaves the order exactly as it was: at 1 lot and at 100 lots the ranked list is identical. What volume changes is what the gap is worth. At 10 lots on raw accounts, £62.44 separates Axi from FXCM; at 100 lots the same choice is worth ten times that.

Switching between raw and standard is what reshuffles it, because the two account types load the cost differently. Raw ranks 12 brokers on their measured three-pair spread average plus that tier's commission. Standard ranks 26 spread-only accounts on the same three pairs with no commission, and Axi leads that arm.

Enter the standard lots you trade in a typical month and pick the account style. I recommend picking the account style that matches your activity. It shapes the costs you compare. Broker names link to the full reviews, and any broker we cannot rank fairly sits below the table with the reason.

How the costs are calculated

Monthly cost = the average of (measured spread x pip value) across EUR/USD, GBP/USD and EUR/GBP, plus round-turn commission per lot times your lots. The spreads are modal figures recorded on live UK accounts by David Levy and Noam Korbl in August 2026; commissions come from the schedule on each live account's contract note. Each pair is priced at its own pip value, so the EUR/GBP leg is valued in pounds directly rather than approximated through a dollar pair. The capture method is on our methodology page.

Where a commission is published only in US dollars, the table shows the pound figure at the recorded August 2026 conversion and marks it with an asterisk. Where a broker's commission is volume-tiered or charged on notional value, no single per-lot figure exists, so the broker moves to the not-ranked group instead of being averaged into shape. I think the asterisk is helpful when you scan quickly, because your eye catches the conversion.

What the ranking leaves out

Four costs sit outside this table:

• Overnight financing, which varies by broker, direction and duration. This page excludes it at the monthly level; our profit and loss calculator excludes it on a single trade for the same reason.
• Currency-conversion charges on deposits and withdrawals, which depend on how you fund the account.
• Inactivity fees, which depend on how often you trade rather than how much.
• Execution quality, which has no published figure to rank at all.

Each of the first three is covered in the individual reviews. None is left out because it is small; each is left out because a single monthly figure would have to invent it. I believe you deserve a real number, not an invented one. Your trust in that number matters.

Execution quality is the gap that matters most and the hardest to price. A cheap spread that slips on fast markets costs more than a wider one that holds. I consider execution the factor to question first. My advice is to test a broker during news events. Without that test, the unknown carries a cost. Ourlowest spread broker guide pairs these measured spreads with execution notes where we have them, and the ECN broker guide covers why a raw account routes differently in the first place.

Raw vs standard accounts in this tool

A raw account wins once its spread advantage beats its commission, and that breakeven is 0.68 pips for a £5.00 round turn: one pip on a standard lot of GBP/USD is worth £7.40 at current rates (the pip value calculator owns that figure), so £5.00 buys about 0.68 pips of spread. Raw accounts price near the interbank spread and charge that commission separately; standard accounts fold the cost into a wider spread instead. Where the measured spread gap between a broker's two account types exceeds the breakeven, raw is cheaper at any volume.

Most high-volume traders end up on raw pricing, which is why it is the default view here. I set raw pricing as the default because actual costs likely match it. I suggest reviewing the commission ranking afterwards. The commission side is ranked on its own in thelowest commission broker guide, and the overall picks are in the best forex brokers in the UK guide.