When it comes to active trading, cost is a critical factor. Whether you're an experienced trader or just starting, fees, commissions, and spreads can significantly impact your overall profitability. After extensive research and testing, we've identified the top low-cost brokers that offer competitive pricing without sacrificing platform quality or security.
Top Low-Cost Brokers for 2025
We've personally tested and ranked the best discount brokers based on overall trading costs and platform quality:
- Interactive Brokers
- NinjaTrader
- FOREX.com
- Plus500US
- OANDA US
- Moomoo
These brokers were selected after evaluating their fee structures, trading platforms, regulatory compliance, and overall user experience.
Why These Are the Best Affordable Brokers
Each broker on our list offers distinct advantages for cost-conscious traders:
Interactive Brokers stands out as our top-rated low-cost broker, providing access to 150 markets across 33 countries. With over 40 years of experience and regulation by multiple authorities including the SEC and FCA, IBKR offers transparent pricing and advanced trading tools.
NinjaTrader specializes in futures trading with three pricing plans to suit different needs. The platform features award-winning charting software and excellent technical analysis capabilities.
FOREX.com, established in 1999 and now part of StoneX, offers thousands of markets beyond just forex. The broker provides excellent pricing on cutting-edge platforms with strong regulatory oversight.
Plus500US entered the US market in 2021 and offers a straightforward web platform with competitive futures trading pricing. The platform features a $100 minimum deposit and 10-minute sign-up process.
OANDA US brings over 25 years of experience with exceptional execution quality and low deposit requirements. The broker offers advanced charting features and around-the-clock support for short-term traders.
Moomoo provides an app-based investment platform with access to multiple international markets. The platform offers zero-commission stock trading and extended trading hours.
Comprehensive Cost Comparison
Understanding the complete fee structure is essential when selecting a broker. Here's how our selected brokers compare across key instruments:
| Broker | Cost Rating | EUR/USD Fee | Stock Trading Fee | Inactivity Fee |
|---|---|---|---|---|
| Interactive Brokers | 4.3/5 | 0.08-0.20 bps | $0.003 per share | $0 |
| NinjaTrader | 4.3/5 | 1.3 pips | Not offered | $25 |
| FOREX.com | 4.6/5 | 1.2 pips | 0.14% | $15 |
| Plus500US | 3.3/5 | 0.75 pips | Not offered | $0 |
| OANDA US | 4/5 | 1.6 pips | Not offered | $0 |
| Moomoo | 3.8/5 | Not offered | $0 per trade | $0 |
These figures represent typical costs but may vary based on account type, trading volume, and market conditions.
Safety and Regulation of Discount Brokers
While cost is important, security should never be compromised. All brokers on our list maintain proper regulatory oversight:
- Interactive Brokers: Regulated by SEC, FCA, and multiple other authorities
- NinjaTrader: Regulated by NFA and CFTC
- FOREX.com: Regulated in US, UK, EU, Australia and other jurisdictions
- Plus500US: Authorized by CFTC and NFA
- OANDA US: Regulated by NFA/CFTC
- Moomoo: SEC-regulated and FINRA member
Each broker implements security measures including segregation of client funds, encryption technology, and compliance with financial regulations. 👉 Explore secure trading platforms
Mobile Trading Experience
Modern traders need reliable mobile platforms. Our evaluation considered:
- Execution speed and reliability on mobile networks
- Charting capabilities and technical indicators
- Order management functionality
- User interface and navigation experience
- Security features for mobile access
All six brokers offer competent mobile applications, with FOREX.com and Interactive Brokers providing particularly comprehensive mobile trading experiences.
Beginner-Friendly Features
New traders should consider brokers that offer educational resources, demo accounts, and low barriers to entry:
| Broker | Demo Account | Minimum Deposit | Education Rating | Support Rating |
|---|---|---|---|---|
| Interactive Brokers | Yes | $0 | 4.3/5 | 3/5 |
| NinjaTrader | Yes | $0 | 4/5 | 4/5 |
| FOREX.com | Yes | $100 | 4.5/5 | 4.3/5 |
| Plus500US | Yes | $100 | 3.5/5 | 3.5/5 |
| OANDA US | Yes | $0 | 3.8/5 | 3.5/5 |
| Moomoo | Yes | $0 | 4.4/5 | 2.8/5 |
Advanced Trading Features
Experienced traders require sophisticated tools and capabilities:
| Broker | Automated Trading | Low Latency | Extended Hours | Professional Tools |
|---|---|---|---|---|
| Interactive Brokers | Yes | Yes | Yes | Extensive |
| NinjaTrader | Yes | Yes | No | Advanced |
| FOREX.com | Yes | Yes | No | Comprehensive |
| Plus500US | Limited | No | No | Basic |
| OANDA US | Yes | Yes | No | Moderate |
| Moomoo | Limited | No | Yes | Basic |
Comprehensive Broker Ratings
Our evaluation considered multiple factors beyond just cost:
| Broker | Trust Score | Platform Quality | Asset Selection | Research Tools |
|---|---|---|---|---|
| Interactive Brokers | 4.5/5 | 3.3/5 | 4.7/5 | 4.4/5 |
| NinjaTrader | 4.3/5 | 4.5/5 | 2.9/5 | 4/5 |
| FOREX.com | 4.9/5 | 4.6/5 | 4.3/5 | 4.8/5 |
| Plus500US | 3.5/5 | 3.3/5 | 3.5/5 | 2.8/5 |
| OANDA US | 4.5/5 | 4.5/5 | 2.8/5 | 4.3/5 |
| Moomoo | 4.7/5 | 3/5 | 3/5 | 3.8/5 |
Why Trading Costs Matter
For active traders, fees directly impact profitability. Consider these scenarios:
- A trader executing 50 trades monthly with a $10 commission pays $500 monthly just in commissions
- Wide spreads on popular currency pairs can significantly increase costs for high-frequency traders
- Overnight financing charges can erode profits for positions held multiple days
Even small differences in pricing can compound substantially over time, making cost evaluation essential for serious traders.
Understanding Trading Fees
Traders encounter several types of costs:
Spreads: The difference between bid and ask prices. Tight spreads (0.0-0.5 pips for major pairs) are ideal for frequent traders.
Commissions: Per-trade charges, often combined with raw spreads. Transparent commission structures are preferred by professional traders.
Overnight Fees: Financing charges for positions held beyond the trading day. These can be substantial for leveraged positions.
Additional Costs: Inactivity fees, withdrawal charges, currency conversion fees, and platform access costs can add up over time.
Real-World Trading Cost Example
Consider a CFD trade on a major index:
- Position size: 1 standard lot ($1 per point)
- Entry price: 6,000
- Exit price: 6,050 (50 point gain)
- Hold time: 3 days (2 overnight periods)
- Leverage: 1:20
Typical costs might include:
- Spread: 0.5 points = $0.50
- Commission: $4.00 per round turn
- Overnight financing: $0.94 for two nights
- Total costs: approximately $5.69
Despite a $50 gross profit, net profit would be approximately $44.31 after costs. This demonstrates how fees impact overall profitability.
Beyond Price: Other Important Considerations
While cost matters, the cheapest option isn't always best. Consider these factors:
Platform Reliability: Execution speed, uptime, and order processing quality
Research Tools: Market analysis, charting capabilities, and educational resources
Customer Support: Responsiveness and availability of support teams
Asset Selection: Variety of available markets and instruments
User Experience: Platform intuitiveness and learning curve
Frequently Asked Questions
What makes a broker truly low-cost?
A truly low-cost broker offers competitive spreads, reasonable commissions, minimal additional fees, and transparent pricing. The best providers maintain low costs while offering quality execution and reliable platforms.
Are there hidden fees I should watch for?
Yes, many brokers charge inactivity fees, withdrawal fees, currency conversion costs, or platform access fees. Always review the complete fee schedule before opening an account.
How much can I save with a low-cost broker?
Savings depend on your trading volume and style. Active traders making dozens of trades weekly can save thousands annually with the right broker selection.
Do low-cost brokers offer good trading platforms?
Many discount brokers offer excellent platforms, though some may have fewer advanced features. The brokers on our list provide capable trading environments despite their competitive pricing.
Is my money safe with a discount broker?
Safety depends on regulation, not pricing. All brokers on our list maintain proper regulatory oversight and implement standard security measures including segregated client accounts.
Can beginners use low-cost brokers effectively?
Absolutely. Many affordable brokers offer demo accounts, educational resources, and user-friendly platforms suitable for beginners. Look for providers with strong educational content and responsive customer support.
Selection Methodology
Our evaluation process considered:
Cost Analysis: We assessed spreads, commissions, and additional fees across multiple instruments
Platform Testing: Hands-on evaluation of trading platforms and tools
Regulatory Review: Verification of licensing and regulatory compliance
User Experience: Assessment of platform usability and learning curve
Feature Comparison: Evaluation of advanced tools, research resources, and mobile capabilities
We weighted cost factors heavily but maintained minimum standards for platform quality and security.
Final Recommendations
Choosing the right broker involves balancing cost with functionality, reliability, and security. The best broker for you depends on your trading style, experience level, and specific needs.
For most active traders, we recommend starting with a demo account to test platforms and evaluate real-world execution quality before committing real capital. 👉 Access advanced trading tools
Remember that the lowest cost provider isn't always the best value if it lacks essential features or reliable execution. The ideal broker combines competitive pricing with a robust trading environment that supports your specific strategy and goals.