Top Low Cost Brokers for 2021

We found 11 online brokers that are appropriate for Trading Low Cost.

Best Low Cost Brokers Guide

Updated April 21, 2021

Low Cost Brokers

Lately, traders have become cost-conscious and are always looking for low cost brokers. This is so a big share of profit from trades is not wiped off with fees and commissions.

The recession of 2008 caused the markets to become highly volatile and this cause more investors to trade hoping to profit from the volatility.

This surge in traders after 2008 caused an increase in the need for more accessible low cost brokerages suitable for retail investors.

Low cost brokers are suited too traders who are not beginners. Low cost brokers may offer fewer tools and features to cut costs, so these types of firms are best for experienced traders who do not need a high level of investment analysis or costly trading platform features.

Charges of Brokers

Brokerages earn money in multiple ways. They make money from charging fees for each trade or for each share. Some brokers charge a broker assist fee per trade, this is also applicable to mutual funds.

Some may also charge per leg fee for options trades. This is the reason many traders opt for brokers who charge a per contract fee.

Free Trading

Lately, to get more customers, many low cost brokers have started offering free trading.

One of the primary aims in offering free trading is to bring back traders who have left the financial market in due to its volatility.

Brokers offering incentives like free trading make money in a different way without charging fees or commissions. They earn through interest on cash in accounts and payments from order flow.

Broker Discounts

In the search for low cost brokers traders will find many brokers offering various types of discounts.

Low Cost Brokers Advantages

Low cost brokers have some benefits including :

Low cost brokers are ideal for traders who want to save money, but it is not recommended for absolute beginners. Only experienced traders should trade with the majority of brokers offering discounts like free trading.

Low Cost Brokers Disadvantages

Usually, the low cost brokers don't offer guidance or advice to clients as the money brokers earn may not be worth their time.

Moreover, most low cost brokers have some hidden fees. So, a precautionary research needs to be undertaken before finalizing one.

How to Choose a Low Cost Broker Below are a couple of things to consider while hunting for brokers and trying to keep costs low.

The brokers should be licensed by local jurisdiction or regulatory authority of a major EU economy like the UK or Germany.

Traders should open multiple demo accounts with multiple brokers to help retail clients get an experience of the market and broker trading platforms before risking real money.

Brokers should keep their funds segregated from client money. The brokerage should not have direct access to your deposited amounts. If your broker is regulated by a major financial regulator, this will be a requirement of their regulation.

Low cost brokers should offer the best trading platforms available in the industry like MT4 or MT5.

Low Cost Brokers Verdict

It is an old English saying that 'cheap things are not the best'.

The same can be said when talking about the financial markets.

Low cost brokerages may not offer the best tools and features, but a good portion of earning will not be drained out in the form of fees and commissions.

Most experienced traders opt for low cost brokers while beginners are better off with brokers offering more trading tools and educational resources.

We've collected thousands of datapoints and written a guide to help you find the best Low Cost Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best low cost brokers below. You can go straight to the broker list here.

Reputable Low Cost Brokers Checklist

There are a number of important factors to consider when picking an online Low Cost trading brokerage.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Low Cost Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Low Cost Brokers of 2021 compared

Here are the top Low Cost Brokers.

Compare Low Cost Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are low cost brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more low cost brokers that accept low cost clients

Broker eToro XTB FP Markets Plus500 SpreadEx Forex.com City Index ThinkMarkets Markets.com Axitrader itrader
Rating
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Markets In Financial Instruments Directive (MiFID), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority, FRN 629628. TF Global Markets (Aust) Limited is the holder of Australian Financial Services Licence number 424700. TF Global Markets (South Africa) (Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835), Financial Services Authority Seychelles (FSA) Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA) Cyprus Securities and Exchange Commission (CySEC)
Min Deposit 200 No minimum deposit 100 100 1 100 25 No minimum deposit 250 No minimum deposit 215
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 20,000,000+ 250,000+ 10,000+ 15,500+ 10,000+ 150,000+ 14,000+ 500,000+ 10,000+ 10,000+ 10,000+
Benefits
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
Accounts
  • Demo account
  • Standard account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps MT4, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, Web Trader, Tablet & Mobile apps MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps MT4,iOS,MacBook,iPhone
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
etoro
Sign Up with
xtb
Sign Up with
fpmarkets
Sign Up with
plus500
Sign Up with
spreadex
Sign Up with
forexcom
Sign Up with
cityindex
Sign Up with
thinkmarkets
Sign Up with
marketscom
Sign Up with
axitrader
Sign Up with
etfinance
Risk Warning 67% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Losses can exceed deposits 74% of retail investor accounts lose money when trading CFDs with this provider 75% of retail investor accounts lose money when trading CFDs with this provider CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.50% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Losses can exceed deposits Trading leverage products may not be suitable for all traders. 71% of retail CFD accounts lose money.
Demo eToro
Demo
XTB
Demo
FP Markets
Demo
Plus500
Demo
SpreadEx
Demo
Forex.com
Demo
City Index
Demo
ThinkMarkets
Demo
Markets.com
Demo
Axitrader
Demo
ETFinance
Demo
Excluded Countries IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, US, IN, PK, BD, NG , ID, BE US, JP, NZ MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE US, TR BE US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW AF, Yugoslavia, AO, GM, NG, AW, GH, KR, BY, GN, BO, GN, PK, BW, HT, PG, IR, PN Island, Burma MM, IQ, RW, KH, , SN, CF, JP, Sierra, Leone, TD, KG, SO, CI , LB, SZ, CU, LS, SY, of CG, LR, TJ, DJ, LY, Tanzania, EC, Laos, TG, ER, ML, TM, ET, MN, UG, Falkland Islands, NA, US of America, FJ, NI, YE, ZW AU, RU, BR, CH, ZA, SG, JP, US, CA, BE, IL, TR, NZ, MY, SY, TH, ID, IR, IQ, HK, PH, PR US, JP US

All Low cost brokers in more detail

You can compare Low Cost Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Low Cost Brokers for 2021 article further below. You can see it now by clicking here

We have listed top Low cost brokers below.

Low Cost Brokers List

eToro
(4/5)
Min deposit : 200
eToro was established in 2007 and is used by over 20000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Plus500
(4/5)
Min deposit : 100
Plus500 was established in 2008 and is used by over 15500+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500 offers CFDs.


Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546
SpreadEx
(4/5)
Min deposit : 1
SpreadEx was established in 1999 and is used by over 10000+ traders. Losses can exceed deposits SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)
Forex.com
(4/5)
Min deposit : 100
Forex.com was established in 1999 and is used by over 150000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider Forex.com offers Forex, Indices, Commodities, Equities, Cryptocurrencies. Cryptocurrency availability with Forex.com is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA)
City Index
(4/5)
Min deposit : 25
City Index was established in 1983 and is used by over 14000+ traders. 75% of retail investor accounts lose money when trading CFDs with this provider City Index offers Forex, CFDs, Spread Betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS)
ThinkMarkets
(4/5)
Min deposit : 0
ThinkMarkets was established in 2010 and is used by over 500000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.50% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money ThinkMarkets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Markets In Financial Instruments Directive (MiFID), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority, FRN 629628. TF Global Markets (Aust) Limited is the holder of Australian Financial Services Licence number 424700. TF Global Markets (South Africa) (Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835), Financial Services Authority Seychelles (FSA)
Markets.com
(4/5)
Min deposit : 250
Markets.com was established in 2008 and is used by over 10000+ traders. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Markets.com offers Forex, CFDs and Spread Bets. Spread Bets are only available to UK customers.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
Axitrader
(3/5)
Min deposit : 0
Axitrader was established in 2007 and is used by over 10000+ traders. Losses can exceed deposits Axitrader offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA)
itrader
(3/5)
Min deposit : 215
ETFinance was established in 2018 and is used by over 10000+ traders. Trading leverage products may not be suitable for all traders. 71% of retail CFD accounts lose money. ETFinance offers Forex trading, Spread Betting, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,iOS,MacBook,iPhone

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)