Forex Broker Fees Explained: Spreads, Commissions, Swaps and Hidden Costs
BY TIOmarkets
|March 17, 2026When evaluating a forex broker, the headline spread figure is rarely the whole story. The true cost of trading with any broker is the sum of every fee charged across the full lifecycle of an account: from the spread paid on each trade, to the commission on commission-bearing accounts, to the overnight swap on held positions, to the fees applied when depositing, withdrawing, or leaving an account inactive.
Understanding each of these cost categories, how they are calculated, and how they interact with your trading style is one of the most practical steps you can take before opening a live account. A broker with a tight headline spread but unfavourable swap rates may cost more than a broker with a slightly wider spread and competitive overnight rates for a trader who holds positions for days or weeks. A trader who churns high volume will have a different cost profile from one who trades infrequently.
This guide explains every category of forex broker fee, how they work at TIOmarkets, and what to look for when assessing the true cost of trading in 2026.
The Spread
What the Spread Is
The spread is the difference between the buy (ask) price and the sell (bid) price of an instrument. It is the most visible cost in forex trading and is paid on every trade. When a trader opens a position, they buy at the ask price. When they close it, they sell at the bid price. The spread is the gap between these two prices, and the position must move in the trader's favour by at least the spread before it reaches break-even.
How Spreads Are Calculated
Spreads in forex are typically expressed in pips. One pip is the smallest standard price increment for most forex pairs, representing the fourth decimal place for most pairs (for example, 0.0001 on EURUSD) and the second decimal place for yen pairs (for example, 0.01 on USDJPY). Some brokers also quote in points, which are fractions of a pip.
The spread is calculated by subtracting the bid price from the ask price. A spread of 0.00001 on EURUSD is equivalent to 0.1 pips. A spread of 0.003 on USDJPY is equivalent to 0.3 pips.
Variable Spreads
Spreads at TIOmarkets are variable and fluctuate with market conditions. They are not fixed. Supply and demand, available liquidity, time of day, and market volatility all affect the width of the spread at any given moment. Spreads tend to be tighter during peak liquidity periods, particularly the London and New York session overlap, and wider during low-liquidity periods such as the Asian session for major EUR and GBP pairs, and around significant news releases.
Any spread figures published are indicative and typically higher than the minimum figures shown. For live spreads, check inside your MT4 or MT5 platform.
Spreads by Account Type at TIOmarkets
The spread minimum varies by account type. The Standard account has spreads from 1.1 pips with zero commission. The Raw account has spreads from 0.0 pips with a commission of $6 per round turn lot. The VIP Black account has spreads from 0.3 pips with zero commission. The Nano account has spreads from 0.6 pips with a commission of $6 per round turn lot.
For traders who want the tightest possible spread and are comfortable with a per-trade commission, the Raw account offers the lowest spread minimum. For traders who want zero commission and a simple cost structure, the Standard or VIP Black accounts are the relevant comparison, with VIP Black offering tighter spreads at a higher minimum deposit.
How Spread Costs Scale with Trading Frequency
The spread is a one-time cost per trade, paid at both entry and exit. For a trader who opens and closes one position per week, the spread cost is minimal relative to the potential move being targeted. For a scalper who opens and closes dozens of positions per session, the accumulated spread cost over a trading day is significant. Spread cost is therefore most important to traders who trade frequently and target small moves.
Commission
What Commission Is
Commission is a fixed fee charged per trade, in addition to the spread. At TIOmarkets, commission is charged on the Raw and Nano accounts only. The Standard and VIP Black accounts have zero commission.
Commission is fixed per round turn lot and does not vary with market conditions. The full commission is charged when the position is opened, and it covers both the opening and the closing of the trade. There is no separate commission charged at exit.
Commission Rates at TIOmarkets
The commission on both the Raw and Nano accounts is $6 per round turn lot. Commission scales with lot size:
- 1.0 lots: $6 per round turn
- 0.1 lots: $0.60 per round turn
- 0.01 lots: $0.06 per round turn
For accounts with a non-USD base currency, commission is converted at the prevailing rate.
The Total Cost of a Spread-Plus-Commission Account
On a Raw account, the total transaction cost per trade is the spread plus the commission. At very tight spreads, even approaching 0.0 pips, the $6 commission per round turn lot represents the floor cost per trade at 1.0 lots. At 0.1 lots, the total commission is $0.60. The Raw account is most cost-effective for traders who operate at higher lot sizes where the spread saving relative to a zero-commission account exceeds the fixed commission cost.
For traders who operate at smaller lot sizes or lower frequency, the zero-commission structure of the Standard or VIP Black accounts may produce a lower total cost per trade despite the wider minimum spread.
Commission Predictability
One advantage of a fixed commission structure is cost predictability. Unlike the spread, which varies with market conditions, the commission is the same regardless of when or in what market conditions the trade is placed. A trader who needs to model trading costs accurately in advance can rely on the commission figure as a known constant.
Swaps
What Swaps Are
A swap is the interest paid or earned for holding a forex CFD position overnight. It reflects the interest rate differential between the two currencies in the pair. If a trader is long a higher-yielding currency against a lower-yielding one, they may earn a positive swap. If they are long the lower-yielding currency, they pay a negative swap.
Swaps are the most significant ongoing cost for traders who hold positions for multiple days or longer. A position held for two weeks accumulates approximately 14 daily swap charges. Over a month, approximately 30. The compounding effect of daily negative swaps over an extended hold can erode a profitable position significantly.
How Swaps Are Applied at TIOmarkets
Swaps are credited or debited to open positions at 22:00 GMT daily. On Wednesdays, a triple swap is applied to account for the weekend settlement period, when positions roll forward across Saturday and Sunday without a separate daily debit or credit on those days. The triple swap day can vary depending on the instrument.
The Wednesday triple swap is an important consideration for traders who hold positions over the weekly rollover. Holding a position with a negative swap through Wednesday's 22:00 GMT rollover incurs three times the standard daily charge on that day.
For current swap rates on specific instruments, check the contract specifications inside your MT4 or MT5 platform by right-clicking the symbol in the Market Watch window and selecting Specification. Swap rates change as central bank policy changes and cannot be treated as fixed.
Swaps on Non-Forex Instruments
Overnight holding costs on index CFDs, commodity CFDs, and stock CFDs are generally calculated on a different basis from the forex triple swap model. For stock CFDs, these are typically described as financing charges. For commodity CFDs, financing rates apply and vary by instrument. Check inside your MT4 or MT5 platform for the applicable rates before holding any non-forex CFD position overnight.
How to Avoid Swap Costs
Traders who do not want to incur swap costs can close positions before the 22:00 GMT daily rollover. Day traders who close all positions within the same session do not incur any swap charges. Swing traders and position traders who hold for multiple days should factor swap costs into their expected return calculations before entering a trade.
For traders who require swap-free conditions for religious reasons, TIOmarkets offers an Islamic account. Contact TIOmarkets directly for requirements and instrument eligibility. Not all instruments may be eligible.
Deposit Fees
Zero Deposit Fees
TIOmarkets charges zero deposit fees when the minimum deposit amount is met. This applies across all five supported deposit methods: bank wire transfer, debit and credit card, e-wallet (Skrill and Neteller), crypto-to-fiat, and mobile money.
The minimum deposit to qualify for zero fees is $20 or currency equivalent for Standard and Nano accounts, $250 or currency equivalent for Raw accounts, and $1,000 or currency equivalent for VIP Black accounts.
Deposit Method Currencies
Bank wire transfer supports EUR, USD, GBP, CAD, and AED. Debit and credit card supports EUR, USD, GBP, AED, and ZAR. E-wallet supports EUR, USD, GBP, and AUD. Crypto-to-fiat supports 9 assets including Bitcoin, Ethereum, Cardano, Ripple, Solana, Litecoin, USDC (ERC20), USDT (ERC20), and USDT (TRON). Mobile money supports KES and GHS.
If a deposit is made in a currency that is not a supported base currency, TIOmarkets or its payment processors will automatically convert it using the latest exchange rates into the selected base currency of the account.
Processing Times
Debit and credit cards, e-wallets, crypto-to-fiat, and mobile money deposits are typically processed instantly. Bank wire transfers are usually processed the same day but can take up to five business days. Weekend and public holiday deposits via instant methods are credited automatically. Bank wire transfers are processed during standard banking hours only.
Withdrawal Fees
Zero Withdrawal Fees
TIOmarkets charges zero withdrawal fees for amounts of USD 20 or currency equivalent or more, across all supported withdrawal methods.
Fees for Withdrawals Below USD 20
For withdrawals below USD 20, the following fees apply by method: debit and credit card: 5%, e-wallet (Skrill and Neteller): 5%, crypto-to-fiat: 5%, mobile money: 5%, bank wire: USD 25 or currency equivalent.
The USD 25 Processing Fee
A USD 25 processing fee also applies in the following specific circumstances: if the account has been funded but no trades have been placed, if the withdrawal amount is below USD 20, or if the withdrawal is made in crypto. Traders should be aware of these conditions to avoid incurring this fee unexpectedly.
Withdrawal Processing Times
TIOmarkets processes withdrawal requests within one business day, typically within a few hours. Delivery times vary by method: debit and credit card usually same day, up to five business days; e-wallet instant; crypto usually instant, up to a few hours; mobile money instant; bank wire usually same day, up to five business days.
Withdrawals requested on weekends or public holidays are processed on the next business day. There is no fast-track or emergency withdrawal processing. All requests are handled on a first in, first out basis during normal business hours.
Full account verification is required before any withdrawal can be processed. A 14-day grace period allows traders to deposit and begin trading before verification is completed, but no withdrawals can be made until verification is in place.
Withdrawal Method Currencies
Bank wire supports EUR, USD, GBP, CAD, and AED. Debit and credit card supports EUR, USD, GBP, AED, and ZAR. E-wallet supports EUR, USD, GBP, and AUD. ZAR withdrawals are available via debit and credit card only. Bank wire, e-wallet, and mobile money do not support ZAR withdrawals.
The Dormancy Fee
What the Dormancy Fee Is
TIOmarkets applies a dormancy fee of USD 30 per month to accounts where there are no open positions and no trades have been placed in the last three months. An account that meets both of these conditions is considered inactive, and the fee is deducted monthly until the account is used again or the balance reaches zero.
Who Is Affected
The dormancy fee is most relevant to traders who fund an account, trade briefly, and then step away from the market for an extended period. A trader who maintains open positions is not subject to the dormancy fee, as an account with open positions is not considered inactive regardless of how long those positions have been held.
For traders who take planned breaks from trading, being aware of the three-month threshold and either maintaining a small open position or withdrawing the balance before the fee applies are the practical ways to avoid it.
How the Fee Categories Interact
Understanding each fee in isolation is useful, but the more important skill is understanding how they interact for a specific trading style.
A day trader who closes all positions within the session pays the spread and commission (where applicable) on each trade but pays no swap charges. For a high-frequency day trader, the spread is the dominant cost and account selection should prioritise the tightest available spread relative to the commission structure.
A swing trader who holds for several days to a few weeks pays spread and commission at entry and exit, plus swap charges on each overnight hold. For a trader holding for ten days with a negative swap, the accumulated swap charges may exceed the original spread cost. Account selection should balance spread quality with the swap mechanics of the intended pairs.
A position trader who holds for weeks to months has the same cost structure as a swing trader but with swap charges accumulating over a much longer period. The break-even calculation — how many days of positive swap are needed to cover the entry spread and commission — is a practical tool for assessing whether a carry-oriented position trade makes sense at the current swap rate.
An infrequent trader who places a few trades per month should be aware of the dormancy fee threshold and ensure the account remains active enough to avoid the USD 30 monthly charge after three months of inactivity.
Comparing Fee Structures Across Account Types
The four TIOmarkets account types represent different balances between spread cost, commission, and minimum deposit. The right account depends on trading frequency, lot size, and holding period.
The Standard account offers the lowest barrier to entry at $20 minimum deposit, zero commission, and spreads from 1.1 pips. For traders who are starting out, trading at smaller lot sizes, or who want a simple cost structure, Standard is the natural starting point. It is created automatically when you register and is available on both MT4 and MT5.
The Raw account offers the tightest spreads from 0.0 pips with a $6 commission per round turn lot and a $250 minimum deposit. For traders operating at higher lot sizes where the spread saving per trade exceeds the commission cost, Raw can reduce the total cost per trade. It must be opened separately via the client area and is available on both MT4 and MT5.
The VIP Black account offers spreads from 0.3 pips with zero commission and a $1,000 minimum deposit. For traders who want tighter spreads than Standard without paying per-trade commission, VIP Black sits between the two. It must be opened separately via the client area and is available on both MT4 and MT5.
The Nano account offers spreads from 0.6 pips with a $6 commission per round turn lot, a minimum lot size of 0.001 lots, and a $20 USD minimum deposit. Available on MT5 only with USD as the sole base currency, the Nano account suits traders who want to control very small position sizes with a lower capital commitment.
All spreads are variable and typically higher than the minimum figures shown. All accounts: margin call at 100%, stop out at 30%. For the Standard account at 1:2000 leverage, the stop out level is 40%. Subject to change depending on market conditions and applicable regulatory requirements. Maximum open and pending orders is 200 per client. Maximum lots per trade is 20. Hedging is available on all accounts.
Forex Broker Fees at TIOmarkets
All fee structures are disclosed on the TIOmarkets trading fees, accounts, deposits, and withdrawals pages. Traders can access all four account types on MT4 or MT5, with the full fee picture available before committing capital. An Islamic account is available for traders who require swap-free conditions.
Contact TIOmarkets directly for requirements and instrument eligibility. Copy trading is available on MT4 and MT5 for traders who want to follow strategy providers while managing their own account and risk settings.
FAQ
Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. Professional client’s losses can exceed their deposit. Please see our risk warning policy and seek independent professional advice if you do not fully understand. This information is not directed or intended for distribution to or use by residents of certain countries/jurisdictions including, but not limited to, USA & Countries included in the OFAC sanction list. The Company holds the right to alter the aforementioned list of countries at its own discretion.
TIOmarkets offers an exclusively execution-only service. The views expressed are for information purposes only. None of the content provided constitutes any form of investment advice. The comments are made available purely for educational and marketing purposes and do NOT constitute advice or investment recommendation (and should not be considered as such) and do not in any way constitute an invitation to acquire any financial instrument or product. TIOmarkets and its affiliates and consultants are not liable for any damages that may be caused by individual comments or statements by TIOmarkets analysis and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his/her investment decisions. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances, or needs. The content has not been prepared in accordance with any legal requirements for financial analysis and must, therefore, be viewed by the reader as marketing information. TIOmarkets prohibits duplication or publication without explicit approval.
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