Which brokers offer commission-free trading?
Verdict
- Pepperstone's Standard account is our pick for commission-free forex trading in the UAE: no commission, a published 1.1-pip EUR/USD average, and a $10 minimum.
- Commission-free means the cost sits in the spread; on Pepperstone's numbers Standard costs about $11 per EUR/USD lot, against about $7 to $8 on its commission-based Razor account.
- Other commission-free accounts: FP Markets Standard (1.21-pip average), Equiti Standard (1.4 typical), and spread-only pricing at eToro, ActivTrades, IG and Plus500, which publish 'from' figures or examples.
- Share CFDs usually carry a commission even on 'commission-free' accounts: Pepperstone charges $0.02 per share on US stocks.
Many brokers offer an account with no commission line; the price of each trade is built into a wider spread instead. That suits traders who want one number per trade. For a UAE resident, Pepperstone's Standard account is the commission-free option we rate highest, mainly because its spread is published as an average rather than a best case.
Pepperstone Standard: no commission, average spreads published
Pepperstone's Standard account charges no commission on forex, metals or indices. Its published averages are 1.1 pips on EUR/USD, 1.2 on GBP/USD, 1.3 on USD/JPY and 0.19 on gold, and Pepperstone says the cost is a 1-point mark-up added inside the forex spread. In the UAE the account runs on the Pepperstone web platform and app, MT5 and cTrader, can be held in AED, and opens from $10. For UAE retail clients, the issuer of the CFDs is Pepperstone Markets Limited, regulated in the Bahamas (SIA-F217), and the group has a DFSA-regulated company in the DIFC.
Affiliate link — we may earn a commission at no extra cost to you.
Commission-free accounts compared
| Broker and account | EUR/USD | Figure type | Minimum |
|---|---|---|---|
| Pepperstone Standard | 1.1 pips | Average | $10 |
| FP Markets Standard | 1.21 pips | Average | $100 |
| Equiti Standard (UAE) | 1.4 pips | Typical | $100 |
| ActivTrades Individual | 0.5 pips | From (target) | No minimum listed |
| IG | 0.6 points | From | Conflicting figures on IG's pages |
| eToro | 1 pip | From | $10 |
| Plus500 | Not published as a figure | Spread-only pricing | Set per payment method |
Commission-free is not cost-free: a worked example
One standard lot of EUR/USD, opened and closed, at $10 a pip, using Pepperstone's published averages:
- Standard: 1.1 pips × $10 = $11, no commission.
- Razor on MT5 or TradingView: 0.1 pips ($1) + $7 commission = $8.
- Razor on cTrader: $1 + $6 commission = $7.
- At 30 lots a month, choosing Standard over Razor on MT5 costs about $90 more.
Where commissions still apply
Even on a commission-free forex account, some products are charged separately. Pepperstone's Standard account is commission-free except on shares: US share and ETF CFDs cost $0.02 per share, and other markets are charged as a percentage per side (0.10% on UK and German shares on its UK fee page). Index CFDs carry no commission on either Pepperstone account. Overnight swaps also apply to positions held past the rollover, and Pepperstone's swap-free account is not available to UAE residents.
Sources
As published by the brokers.
Is commission-free trading cheaper?
Usually not per lot. On Pepperstone's averages, the commission-free Standard account costs about $11 per EUR/USD lot against about $8 on Razor. It is simpler, not cheaper.
Does Pepperstone charge commission on index CFDs?
No, on either account. You pay the spread, which Pepperstone publishes per index.
Is there a minimum deposit for Pepperstone's Standard account?
Pepperstone's UAE site lists minimum funding of $10 or the local equivalent.
CFDs are complex instruments traded with leverage, and many traders lose money quickly. A commission-free account still has trading costs. Figures are broker-published and may have changed since publication; this is information, not advice.