For most active UAE traders the cheapest forex broker is Pepperstone, on its Razor account: raw spreads from 0.0 pips plus a commission from $3.50 per lot per side, with no deposit or withdrawal fees and a $10 minimum deposit. If you trade rarely and prefer no commission at all, Capital.com's spread-only pricing can work out simpler.
Short answer: Cheap means the lowest total cost for your own trading pattern: spread, commission, overnight financing and currency conversion added together.
Pepperstone Razor: raw forex spreads from 0.0 pips plus commission from $3.50 per lot per side on MT4 and MT5.
Pepperstone Standard: no commission on forex, with a 1-pip markup built into the spread.
Capital.com: no trading commission, dynamic spreads, a 0.7% conversion fee when a market is priced in another currency, and an 80 AED minimum deposit.
XS Elite: spreads from 0.1 pips on EUR/USD with a $6 round-turn commission and a $500 minimum.
Overnight swaps can outweigh the spread if you hold positions for weeks.
A worked example of forex costs
Take one standard lot of EUR/USD opened and closed the same day. On Pepperstone Razor you pay the raw spread plus $3.50 when you open and $3.50 when you close, so $7 in commission plus whatever the raw spread is at that moment. On Pepperstone Standard the same trade carries no commission, but the spread includes a 1-pip markup, which on one standard lot of EUR/USD is worth about $10.
That is why we point frequent traders to Razor and occasional traders to Standard. Hold the position overnight and a swap is added or credited on both accounts, so check the swap rate in your platform before you keep a trade open.
Lowest cost for active traders
Razor pricing from 0.0 pips plus $3.50 per lot per side, zero deposit and withdrawal fees, and AED accounts on its UAE route.
Pepperstone, Capital.com and XS are our partners. We may earn a commission if you open an account through our links. That does not change the facts on this page.
Your questions, answered
Which forex brokers have the lowest spreads?
The tightest quoted spreads come from raw-spread accounts. Pepperstone's Razor account quotes forex from 0.0 pips, and XS's Elite account from 0.1 pips on EUR/USD, but both add a commission. A low spread without commission usually means the cost is elsewhere, so compare the spread and commission together.
Which CFD brokers have the lowest trading fees?
For CFDs beyond forex, Pepperstone charges no commission on index CFDs, and none on commodity CFDs except on its Razor gold pricing. US share CFDs carry a commission of $0.02 per share. Capital.com charges no commission on any CFD, but you pay its spread and, for markets priced in another currency, a 0.7% conversion fee. Index traders who hold overnight should add the financing charge to either broker's cost.
Can you compare trading costs across major forex brokers?
Here is how the three we recommend price a forex trade. Pepperstone Razor charges raw spreads plus $3.50 per lot per side, while Pepperstone Standard builds a 1-pip markup into the spread. Capital.com uses dynamic spreads with no commission, and XS charges 1.1 pips on average on EUR/USD on Standard, 0.7 on Pro and 0.1 on Elite, where it adds a $6 round-turn commission. Swaps and conversion fees then apply on top for all of them.
Which brokers offer raw spread or ECN accounts?
Pepperstone's Razor account is a raw-spread account: you see the underlying spread and pay a separate commission on forex and spot gold. Its cTrader platform also shows Level II market depth, so you can see the volume at each price. XS's Elite account follows a similar raw-plus-commission model, and IC Markets' global site lists a Raw Spread account under its Seychelles company.
Which account type is best for active traders, standard or raw spread?
For active traders, raw spread usually wins, because a fixed commission is often cheaper than a markup built into every spread. On Pepperstone that means Razor, which also opens MT4 and TradingView, platforms that its UAE site lists only for Razor. Standard suits you if you trade a few times a month and want one number to watch. Test both on a demo account before you decide.
What is the minimum deposit at the main CFD brokers in the UAE?
Pepperstone's minimum deposit is $10. Capital.com asks for 20 USD, EUR or GBP, or 80 AED, and XS has no minimum on its Standard, Cent and Micro accounts but asks for $500 on Pro and Elite. A low minimum is useful for testing a broker's deposits and withdrawals before you commit more.
Which brokers offer professional accounts with higher leverage in the UAE?
Pepperstone's DIFC firm, regulated by the DFSA, is reserved for professional clients, and Pepperstone verifies that you qualify before upgrading you. Capital.com also classifies clients as retail or professional. XS advertises leverage of up to 1:2000 on its Pro and Elite accounts, but such leverage magnifies losses as fast as gains. Professional status usually means giving up some retail protections, so read what you lose before you apply.
Which brokers charge the lowest overnight swap fees?
Swap rates change daily with interest rates, so no broker is always cheapest. Capital.com lists long and short overnight rates per instrument on its fees page and does not charge overnight funding on most unleveraged (1:1) positions, while Pepperstone explains how its swaps are calculated on its costs page. If you hold trades for weeks, compare the published rate for your exact market. Pepperstone's perpetual CFDs replace swaps with a daily funding rate set weekly.
Which brokers offer commission-free trading?
Capital.com charges no trading commission on any market. Pepperstone's Standard account has no commission on forex, indices or commodities, though US share CFDs carry $0.02 per share. XS's Standard and Pro accounts are also commission-free. Commission-free never means cost-free: you pay through the spread.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Lowest cost for active traders
No commission
0.1-pip Elite pricing