LMAX Exchange and Tickmill with the lowest costs according to TradeProofer

LMAX Exchange, IG Group and Tickmill - these are three Forex brokers who, according to an independent portal TradeProofer they come out the best in terms of transaction costs (spread + commission). Two of these companies are partners of the Forex Club. It is worth noting that the study does not take into account accounts with preferential conditions, i.e. VIP status, with a negotiable commission and with Forex Club discounts. This means that both brokers would have fared even better.

In the comparative analysis, 93 brokers from around the world were taken into account.

The calculation method according to TradeProofer

In the study, the calculation was performed on "typical" accounts, i.e. those most popular among traders. For example, in the case of Tickmill, which offers three types of accounts - Classic, Pro and VIP - the study was conducted on a Pro account (STP model). The comparison is based on the costs resulting from the average value of the measured spread and the transaction commission, if any. The total cost is converted into the total fee for 10 lots of trading on a given instrument in USD.

TOP 5 the cheapest brokers on EUR / USD:

1. LMAX Exchange - 72 USD
2. IG Group - 78 USD
3. Tickmill - 80 USD
4. IC Markets - 83 USD
5. Darwinex - 85 USD

The test does not take into account possible slippage that could occur in the execution of orders, however, obtaining reliable slippage measurements would require identical transactions to be concluded by all compared brokers at the same time.

The TradeProofer portal offers the opportunity to check costs with selection for any currency pair, metal or commodity, provided it has the right amount of data to carry out the measurement. The full list of brokers who were considered is available HERE.

Interestingly, no Polish brokerage house is located on it. It was also missing Dukascopy, CMC Markets, InterTrader, that is companies that also have very attractive commissions.