| Updated: February 17, 2025The landscape of online trading has seen an increasing demand for accessibility, convenience, and cost-effectiveness. In response, online brokerages have now begun eliminating two of the most frustrating costs associated with trading forex online: deposit and withdrawal fees.
By waiving these charges, brokers have made it easier for traders to quickly fund their accounts. Moreover, with the barrier to entry being significantly reduced, individuals can enter and exit the trading market with relative ease. This also ensures that forex enthusiasts will feel more comfortable with trying out different brokers before finding the one that suits their trading preferences best.
Below you can find a list of Forex brokers with zero commission for trading:
Top 5 Forex Trading Brokers with Zero Deposit and Withdrawal Fees
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- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
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- Australia regulated broker
- Advanced MT4
- $0 Minimum Account Size
Trading InstrumentsDeposit Methods- Commodities CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
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- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
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- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
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- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Fusion Markets | AVG 0.93 pips | $0 Classic Account, $4.50 round turn on Zero Account |
| Global Prime | AVG 0.96 pips | $0 Standard Accounts; $7 round turn on Raw Accounts |
| FP Markets | AVG 1.2 pips | $0 Standard Account; $6 round turn on Pro Account |
| Pepperstone | AVG 1.1 pips | $0 (Standard Account), $7 round-turn (Razor Account) |
| Axi | AVG 1.2 pips | $0 on Standard Account; $7 round trip on Pro Account |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| Global Prime | |
$0 |
| FP Markets | |
$50 (AU$100) |
| Pepperstone | |
$0 |
| Axi | |
$0 |
Forex Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets |  |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account) |
| Global Prime | |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC) |
| FP Markets | |
1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:500 (FSAS | Retail Account) |
| Pepperstone | |
1:500 (CySEC | Pro Account), 1:500 (SCB | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:200 (SCB | Retail Account) |
| Axi | |
1:500 (Elite Account), 1:400 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:500 (SVGFSA) |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| Global Prime | |
MetaTrader 4 |
| FP Markets | |
cTrader, TradingView |
| Pepperstone | |
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web |
| Axi | |
MetaTrader 4 |
Comprehensive Comparison of the Best Forex Brokers with Zero Deposit and Withdrawal Fees
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
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$0 |
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AVG 0.93 pips |
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|
 |
$0 |
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AVG 0.96 pips |
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|
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$50 (AU$100) |
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AVG 1.2 pips |
|
|
 |
$0 |
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AVG 1.1 pips |
|
|
 |
$0 |
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AVG 1.2 pips |
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What is a Forex Broker with Zero Deposit and Withdrawal Fees
A Forex broker with zero deposit and withdrawal fees is a type of online trading platform that offers fee-free management of one’s account balance. This means that traders can deposit funds into their accounts without incurring any fees, and they will not need to worry about being charged anything when they withdraw funds either. This type of broker is ideal for traders who want to minimize their costs and maximize their returns.
Low-cost may also offer other benefits, such as small or no commissions on trades, and transparent pricing. Overall, a Forex broker with zero deposit and withdrawal fees can provide a more efficient and cost-effective way for traders to access the Forex market compared to brokerages that charge fees.
Are There Any Transaction Fees not Charged by Brokers?
While going with a broker without deposit and cashout costs will eliminate the need to pay the brokerage company these types of fees, traders must keep in mind that their transactions might not be completely without charges. For example, credit card issuers may impose processing fees on clients that can hover around or exceed 1%.
If you utilize a digital wallet, putting money into your e-wallet balance so that you can then transfer it to your broker account will come at a cost as well. There are currency conversion fees to be aware of, as well as potential service fees. We should also note that if you switch to another digital wallet but fail to close the old e-wallet account, you might incur dormancy fees.
Moreover, whenever you wish to withdraw money obtained from trading from your banking account, your financial institution will often charge you for the transaction. The same applies to cashing out from one’s digital wallet account.
If you choose to utilize cryptocurrencies for trading transactions, there are processing fees you will need to pay. The costs are referred to as “gas fees” when it comes to the Ethereum network.
Of course, brokers themselves will also charge traders for other services, even if deposits and cashouts are fee-free. Potential costs include the spreads, commissions, currency conversion fees, overnight (swap) fees, inactivity fees, and more.
Other Factors that Make a Broker Low-Cost
A low-cost broker is defined by its commitment to eliminating unnecessary expenses and providing clients with a frictionless trading experience. As established, one of the key characteristics of a low-cost broker is its decision to waive fees associated with deposits and withdrawals. This approach not only saves clients money but also streamlines the process of managing their accounts, allowing them to focus on their trading activities. However, this is not the only factor that can make a broker suitable for traders seeking low-cost trading.
Low spreads and commissions can be a perk of low-cost brokers. Plenty of brokers nowadays allow their clients to trade with spreads of 1 pip or lower, even if they have the lowest tier account. Moreover, there are brokers that have chosen not to attach commissions to trades at all, instead opting to limit trading costs to the spread alone.
The spreads may drop to 0 should traders open a zero-spread account with a broker offering this option. At a broker considered budget-friendly, this will come at the cost of a reasonable commission that will also make for low trading costs.
Another way brokers aim to accommodate traders is by setting a low or no deposit minimum. While not a direct cost, this does serve to make starting out far more accessible.
Ultimately, a low-cost broker’s primary goal is to provide clients with a seamless and cost-effective trading experience. By eliminating unnecessary fees and expenses, these brokers enable investors to focus on their trading activities and achieve their financial objectives with greater ease and confidence.
Brokers can further lessen the burden of fees by not charging clients maintenance fees for their services. Dormancy fees that would have otherwise forced inactive traders to pay a monthly fee for not using their accounts are also avoided by low-cost brokers.
Deposit and Cashout Methods at Low-Cost Brokers
Top-tier brokers strive to ensure that their users will be able to top up their balances and cash out profits with ease. To facilitate swift and hassle-free transactions, brokers often include a plethora of options in their lists of supported payment methods.
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Bank Transfers
Bank transfers are the first type of deposit or cashout solution you will find at brokers that have opted to do away with transaction fees. They can be somewhat slow, with deposits sometimes taking a day to process, while withdrawals may take several days to a week. They are reliable and very secure, however, making them popular among traders.
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Bank Cards
In terms of brands, popular options include Visa, Mastercard, Discover, and American Express. Usually, brokers will allow deposits via both credit and debit cards. The latter are suitable for traders who are concerned about trading with funds borrowed from their bank. Depositing via either will seldom involve any fees, and the process is typically instant. Cashouts may take several days to process.
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Digital Wallets
This family of payment solutions boasts instant deposits and swift withdrawals, and brokers tend to avoid attaching fees to transactions involving digital wallets. A vast array of e-wallets are at the disposal of traders worldwide, including but not limited to Neteller, Skrill, and PayPal.
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Cryptocurrencies
Cryptocurrencies are slowly but surely gaining traction among forex traders when it comes to transactions at online brokers. Typically, brokers allow traders to top up their accounts or cash out via crypto payment gateways like FinRax and LetKnow Pay. Transactions are usually swift, although their speed does depend on the blockchain traffic at the time.
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Local Payment Methods
As international brokers operate in plenty of jurisdictions, they will often accommodate traders who prefer using payment solutions that are exclusive to their respective regions. Interac, for instance, is a popular Canada-only banking solution.
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Mobile Payments
More traders than ever rely on their smartphones for online payments, something brokerage companies are well aware of. Thus, they have opted to accept instant deposit options like Google Pay and Apple Pay. Note they will not always be supported when it comes to withdrawals.
Are Forex Brokers with Zero Deposit and Withdrawal Fees Secure?
A secure, low-cost broker is built on a foundation of robust measures designed to protect clients’ assets, personal data, and trading activities. At the heart of a secure broker’s operations is a commitment to safeguarding sensitive information through advanced encryption and secure storage solutions. This ensures that client data remains confidential and protected from unauthorized access.
Another critical aspect of a secure broker is its regulatory compliance. Reputable brokers are licensed and supervised by stringent regulators like the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC). These entities impose strict standards and guidelines that brokers must adhere to.
In addition to regulatory compliance, a low-cost broker typically employs a range of security protocols to prevent unauthorized access to client accounts and trading activities. This includes two-factor authentication and advanced monitoring systems to detect and prevent suspicious activity. These measures help to prevent identity theft, account hacking, and other forms of cybercrime.
Brokers that do not charge withdrawal or deposit fees do not neglect the type of financial solutions they support in terms of transactions. They tend to accept deposits and cashouts via secure payment options like digital wallets, bank cards, digital wallets, and bank transfers.
Additionally, fee-free brokers prioritize the segregation of client assets, ensuring that funds are kept separate from the broker’s operating capital and other client accounts. This segregation of assets provides an additional layer of protection should the broker experience financial difficulties or other unforeseen circumstances.
Ultimately, a secure broker’s primary goal is to provide clients with a safe and reliable trading environment where they can focus on their financial objectives without worrying about the security of their assets or personal data.
What to Look Out for When Choosing a Low-Cost Forex Broker
First and foremost, make sure to check all potential fees that may be associated with trading or the financial solution you plan on using. Information regarding the specific trading fees of a broker can be found on its website, but asking its customer support staff is another way to gain insight into its fee structure.
Of course, there are non-cost-related factors you should consider, starting with regulation. Traders are advised to confirm that a broker is licensed by the entity that oversees the financial market in their jurisdiction. This way, one will be confident in the broker’s integrity, but also rest assured that they will have adequate resources and helpful entities to turn to should things go south.
Next, check out the platforms the broker offers. MT4 and 5, cTrader, and TradingView are examples of the platforms most trusted brokers support.
Continuing onwards, make sure that you pick a broker that has an excellent library of trading products. A good instrument selection will typically include plenty of forex pairs, commodities, shares, cryptocurrencies, and more.
Customer support is another crucial factor. Brokers you can trust are characterized by their capacity to offer assistance around the clock, five or seven days a week, and provide you with a sufficient number of communication channels to pick from. You will often be able to get in touch with a representative of the support staff before registering, and doing so will give you an idea of how quick they are to respond and answer queries.
FAQs
How do I confirm that a broker does not charge fees on deposits and withdrawals?
The vast majority of brokers provide all fee-related information on their websites. Typically, you will be able to navigate to a separate page centered around deposits and withdrawals or find the fee details in the FAQ. Should that prove insufficient, you can always ask the support team.
Are low-cost brokers regulated and trustworthy?
This can vary from broker to broker. In general, however, reputable low-cost brokers are licensed and regulated by top-tier financial authorities, ensuring that they adhere to strict standards and guidelines to protect clients’ assets and personal data.
What kind of trading platforms do brokers that do not charge deposit or withdrawal fees offer?
Low-cost brokers often allow their clients to utilize advanced trading platforms with features such as real-time market data, technical analysis tools, and automated trading capabilities. Popular brands include the MetaTrader platforms, cTrader, and TradingView. Note that most brokers also boast mobile-friendly software.
Can I trade with a low-cost broker if I have limited trading experience?
Yes, many low-cost brokers offer educational resources and have low or no minimum deposit requirements. They also tend to give each client the opportunity to use a demo account, which enables risk-free trading practice. Risk management tools that help traders of all levels navigate the markets are also common.
How do brokers without deposit or withdrawal fees handle customer support?
Low-cost brokers typically offer multilingual customer support via phone, email, and live chat, ensuring that clients receive timely assistance and guidance.
Conclusion
As the financial industry continues to evolve, low-cost brokers are poised to play an increasingly important role. By prioritizing innovation, efficiency, and client satisfaction, these brokers are helping to shape the future of trading and investing. Ultimately, their commitment to affordability and accessibility has made a significant impact on traders and investors worldwide.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it's essential to rely on trustworthy sources. RationalFX, a company with over 17 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it's clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker's service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at feedback@rationalfx.com or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.