Best Forex Broker for Cheap Trading 2011

Search › Compare › Trade

When choosing an online forex broker for cheap trading, commissions and spreads are the most important factors. For this review, we aggregated all the spread and commission data to determine the absolute cheapest forex brokers in the industry. The top three forex broker results are below.

MB Trading

MB Trading Review

MB Trading earned Top Broker Rating by Barrons; 4.5 out of 5 stars
One of the only true ECN brokerages in the industry paying 1.95 per 100k for customer limit orders

Forex Trades*	Clearing Method*	Minimum Contract*	Minimum Deposit
$5.90	ECN	Micro	$400.00

Alpari

Alpari Review

Alpari Academy offers industry leading tools, analysis, and market commentary
Alpari PRO accounts boast extremley competitive transaction costs

Forex Trades*	Clearing Method*	Minimum Contract*	Minimum Deposit
$9.60	Dealing Desk	Micro	$250.00

PFG Best

PFG Best Review

Host of the 2011 World Cup Trading Championship for Futures & Forex trading, and stock trading.
Extensive series of live and recorded webinars free for everyone.

Forex Trades*	Clearing Method*	Minimum Contract*	Minimum Deposit
$10.50	Dealing Desk	Mini	$0.00

MB Trading is the cheapest forex broker to trade with for several reasons. For one, their commission rate of $2.95/100k ($5.90 round trip) is one of the lowest rates among FX Brokers. Not to mention they offer it along side super tight spreads to everyone, regardless of account size. If that wasn’t enough they are now paying their clients 1.95 per 100k for placing limit orders. Learn more about this in our full MB Trading review.

Alpari ranks a close second and is notable for their tight spreads on their commission-free accounts. Paying their small spread markup is competitive with MB Trading on most of the major pairs and Alpari offers the option to upgrade to a "Pro" account for commission based pricing and their tightest spreads available ($2.50/100K USD per trade). In order to qualify for a “Pro” commission based account you’ll need a $5,000 minimum deposit.

PFG Best has a spread scheme very similar to Alpari, only slightly wider on some of the major pairs. PFG does not require a minimum deposit and provides affordable trading with a quality trading environment.