FXOpen charges the half-turn commission of 1.8 -2.5 units of base currency to open a 1 lot position and the round-turn commission of 3.6–5 units of base currency for the opening and closing of a 1 lot position.
Let’s compare trading in a Market Maker account with a fixed spread, and trading in the FXOpen ECN account.
We suggest calculating the price you will pay a broker for opening a 50 lot position a month,
e.g. 20 lots USD/CHF and 30 lots USD/JPY.
ECN trading reduces your commission costs;
20 lots USD/CHF per month and 30 lots USD/JPY per month;
Floating spreads in ECN accounts;
According to Myfxbook independent data, the average spread with FXOpen for USD/CHF is 0.4 pips (4$/1 lot); The average spread for USD/JPY is 0.2 pips (2$/1 lot).
TOTAL: your commission amounts to
1,200 USD for 50 lots
TOTAL: your commission is about
390 USD for 50 lots
Conclusion: The ECN trading costs are 3 times lower compared to fixed spread
trading costs in a Market Maker (MM) account. The MM model will cost 1,200 USD for 50 lots, while the ECN model – only 390 USD, which is 810 USD less.
When compared to the MM trading model with fixed spreads and no commissions, the ECN trading model with floating spreads and commissions significantly lowers your costs.
3 times lower commission costs
*The calculation is approximate with no other market conditions factored in
According to independent data from Myfxbook, FXOpen is one of the Forex brokers with the lowest spreads for its clients.
All client trades go directly to our LPs (Liquidity Providers). With the ECN model FXOpen profits only from the commission charged on clients trades.
At FXOpen we constantly update our services to create the best trading conditions possible for our clients, so that they could increase their trading volumes and potential revenues.