Markets desk
The Markets Desk byline covers broker analysis, EU regulation, trading-cost analysis, and risk management. Research is conducted by qualified contribu...
Credentials
- Editorial persona — FX-Brokers EU
Key Findings
June 2026 at a Glance
- RoboForex ranks first with an all-in cost of $0.00 per standard lot on their Standard account.
- The average all-in cost across all 25 brokers is $6.37 per standard lot.
- The gap between cheapest and most expensive broker is $15.00 per lot — equivalent to $3600 per year for a trader executing 20 lots/month.
- All 25 brokers hold at least one ESMA-tier licence. The most common regulator in the index is CySEC, followed by BaFin and FCA.
Full Ranking: 25 EU Brokers by All-In Cost
Ranked by fees score with all-in cost per standard lot as the tiebreaker. Each row is anchored — link directly to any broker using #{broker-slug}.
| Rank | Broker | Account Type | Avg EUR/USD Spread | Commission (RT) | All-In Cost/Lot | ESMA Entity |
|---|---|---|---|---|---|---|
| 1 | RoboForexLowest Cost | Standard | 0.00 pips | None | $0.00 | CySEC (Cyprus) |
| 2 | XTB | Standard | 0.10 pips | None | $1.00 | KNF (Poland) |
| 3 | Interactive Brokers | Standard | 0.10 pips | None | $1.00 | FCA (UK) |
| 4 | FXCM | Active Trader | 0.20 pips | None | $2.00 | FCA (UK) |
| 5 | Admirals | Trade | 0.50 pips | None | $5.00 | CySEC (Cyprus) |
| 6 | XM | Ultra Low | 0.60 pips | None | $6.00 | CySEC (Cyprus) |
| 7 | IG | Standard | 0.60 pips | None | $6.00 | BaFin (Germany) |
| 8 | Saxo Bank | Platinum | 0.60 pips | None | $6.00 | FCA (UK) |
| 9 | OANDA | Standard | 0.60 pips | None | $6.00 | FCA (UK) |
| 10 | Tickmill | Raw | 0.00 pips | $6.00 | $6.00 | CySEC (Cyprus) |
| 11 | Capital.com | Standard | 0.60 pips | None | $6.00 | FCA (UK) |
| 12 | Swissquote | Elite | 0.60 pips | None | $6.00 | FCA (UK) |
| 13 | IC Markets | Standard | 0.60 pips | None | $6.00 | CySEC (Cyprus) |
| 14 | Pepperstone | Standard | 0.69 pips | None | $6.90 | BaFin (Germany) |
| 15 | CMC Markets | Standard | 0.70 pips | None | $7.00 | BaFin (Germany) |
| 16 | FxPro | Raw | 0.00 pips | $7.00 | $7.00 | FCA (UK) |
| 17 | Axi | Pro | 0.00 pips | $7.00 | $7.00 | FCA (UK) |
| 18 | Eightcap | Raw | 0.00 pips | $7.00 | $7.00 | FCA (UK) |
| 19 | Plus500 | Standard | 0.80 pips | None | $8.00 | CySEC (Cyprus) |
| 20 | Trading 212 | Standard | 0.90 pips | None | $9.00 | FCA (UK) |
| 21 | AvaTrade | Standard | 0.90 pips | None | $9.00 | CySEC (Cyprus) |
| 22 | eToro | Standard | 1.00 pips | None | $10.00 | CySEC (Cyprus) |
| 23 | Forex.com | Standard | 1.00 pips | None | $10.00 | CySEC (Cyprus) |
| 24 | FXTM | Standard | 1.50 pips | None | $15.00 | CySEC (Cyprus) |
All-in cost/lot = (average spread in pips x $10 pip value) + round-turn commission. Data based on EUR/USD. Actual spreads vary by market conditions and time of day.
Methodology
What is measured
The EU Broker Spread Index measures the all-in EUR/USD trading cost per standard lot (100,000 units) for each broker. This single figure combines:
- Average EUR/USD spread— the typical bid-ask difference in pips, measured on the broker's lowest-cost account type.
- Round-turn commission — any fixed commission charged per lot (both opening and closing), converted to USD.
The formula: All-in cost = (avg spread x $10) + commission
Pairs tested
This edition measures EUR/USD only. EUR/USD is the most liquid forex pair and the one where broker pricing is most competitive. Future editions will expand to GBP/USD, USD/JPY, and EUR/GBP.
Account types
For each broker we select the lowest-cost account type available to EU retail clients. Where a broker offers both Raw/ECN and Standard accounts, the ranking uses whichever delivers the lower all-in cost per lot.
Data source
Spread data is derived from each broker's published typical spreads for their selected account type. Commission rates are taken from official fee schedules. All data reflects publicly available pricing as of June 2026.
Limitations
- Spreads are variable and fluctuate with market conditions. The figures here represent typical conditions, not guaranteed rates.
- Only EUR/USD is covered. Broker rankings may differ for other pairs.
- Execution quality (slippage, fill rates) is not captured in this index.
- Swap costs are excluded — they depend on holding period and direction.
Download the Data
Full dataset as CSV. Licensed under CC BY 4.0 — cite FX-Brokers.eu when republishing.
Monthly Archive
This is the inaugural edition of the EU Broker Spread Index. Monthly editions will be published here, each archived at its own URL for historical comparison.
June 2026
Inaugural edition (current)
Frequently Asked Questions
Markets desk
The Markets Desk byline covers broker analysis, EU regulation, trading-cost analysis, and risk management. Research is conducted by qualified contribu...
Credentials
- Editorial persona — FX-Brokers EU
Compare Brokers by More Than Spread
Spreads are one dimension. Compare regulation, platforms, deposit methods, and overall scores across all 25 brokers.
Risk Disclaimer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This index is for informational purposes only and does not constitute investment advice.