As the Home of the Private Investor, ADVFN is a globally renowned online financial information provider. The premier business media outlet features live news feeds and market data facing forex, commodities, cryptocurrencies and shares.
The ADVFN International Financial Awards recognise the very best market-oriented products and services available in the United Kingdom and abroad. From "Best Crypto YouTuber" to "Best Mobile Trading Platform," ADVFN addresses a wide spectrum of categories local to the financial industry. FXCM is proud to be the winner of AVFN's Best Zero-Commission Broker award for 2021.
At FXCM, we are an industry leader in the provision of forex, CFD and share trading services. Behind a team of dedicated employees, partners and affiliates, we operate in adherence to three core values: the customer always comes first, business is conducted with integrity, and our team has the agility to adapt to ever-changing industry needs. No matter the client's size or needs, we strive to ensure that their trading experience is a positive one.
What Is A Zero-Commission Broker?
A zero-commission broker is one that does not assign a fee to facilitating client-initiated trades. For stock trading, this has been a major shift as the "flat fee" associated with buying or selling shares has been largely eliminated. In the modern era, this fee ranged anywhere from US$4.95 to US$9.95 per online trade―a sum that could quickly add up. Now, zero-commission brokers provide clients share market access without any flat, per-trade fees.
How Does A Zero-Commission Broker Make Money?
With the lack of a commission structure, it's reasonable to wonder how brokers operate and sustain profitability. First, the essential functions and services of zero-commission brokers are the same as conventional outlets. The broker's primary job is to provide market access to its clientele through the provision of streaming data, live/historical price charts and order routing mechanisms. So, if there are no commissions, how does the broker make money? Through a multitude of ways:
- Interest income
- Transfer fees (deposits/withdrawals)
- For purchase proprietary products
The Impact Of Zero-Commission Trading
Zero-commission trading has vastly altered the financial landscape as it provides a unique service suite to contemporary traders. Without having to account for commissions, active traders are afforded a greater degree of strategic freedom. Also, because there is a lack of commission costs, that means scalping, day trading and high frequency strategies all become more effective. In many ways, zero-commission brokers furnish the active trader with a collection of benefits never before realised in the world's capital markets.
The FXCM Difference
When you trade with FXCM, you are trading with a financial industry leader. FXCM offers clients a vast array of services, each designed to add value to any trader's core business. No matter if you are an individual retail trader or institutional participant, FXCM can help you reach your market-related goals.
The FXCM Service Suite
At FXCM, you'll be able to trade your opinions on the world's premier markets at rock-bottom prices. Available asset classes are forex, shares, indices, commodities and cryptocurrencies. 1
In addition, you will have access to CFD products, as well as sectoral forex and stock baskets. When coupled with our robust technological infrastructure and enhanced execution model, clients are positioned to succeed. Rest assured, FXCM has a product suitable for all of your needs.
In recognition of this elite financial services suite, FXCM has received many accolades from industry authorities. Below are a few from 2020 and 2021:
- Online Personal Wealth Awards 2021 ― Best FX Platform
- ADVFN International Financial Awards 2021 ― Best Zero Commission Broker
- ForexBrokers.Com 2021 "Best In Class" ― Platforms & Tools, Mobile Trading, Professional Trading, Ease of Use
- Investors Chronicle's "Top Rated 2020" ― Forex Trading Platform
- Shares Awards 2020 ― Best Trading Tools and Research
One of the greatest benefits of trading with FXCM is the firm's global regulatory standing. Under the FXCM Group parent company, affiliates and regional offices adhere to the highest regulatory standards. Home company Forex Capital Market Limited (FXCM LTD) is registered with and regulated by the U.K. Financial Conduct Authority (FCA). Accordingly, FXCM LTD must satisfy strict financial standards, including the FCA's capital adequacy requirements.
Why Trade With FXCM?
Ultimately, it's up to every trader to decide which strategies and brokers are best for the job. Aside from being regulated, licensed and reputable, FXCM offers its clientele several features that go above and beyond the competition:
- Price Improvement: More than 86% of orders have zero or positive slippage.
- Execution Speed: Trades are executed fast, at an average of 32 milliseconds.
- Historical Spreads: During active forex hours, traders enjoy rock-bottom spreads.
- Execution Study: Studies show that FXCM LTD retail order prices are better than the Futures Market and Interbank Market prices for FX pairs.
- Platform Options: FXCM supports a number of trading platforms, including Trading Station, MetaTrader 4, NinjaTrader and ZuluTrade. With third-party apps and programming services, you are able to fully-customise your trading experience.
In addition to these advanced functionalities, FXCM offers dedicated customer support via telephone or live chat on a 24/5 basis. Regardless of where you're trading from, help is only a phone call or click away.
What Are The Other Top Zero-Commission Brokers?
The online brokerage atmosphere includes hundreds of outlets, each vying for your business. A strong broker should be regulated, in good legal standing and reputable. Of course, it's up to each trader to perform adequate due diligence before depositing funds with any firm. Below are five of the top zero-commission brokers for 2021.
Servicing more than 178,000 clients via offices in 16 countries, IG is one of the world's prominent brokerage firms. IG has been in business for 45 years, making it an institution in the global forex, CFD and shares trade. IG furnishes clients with a wide variety of instruments, competitive pricing and a collection of diverse trading platforms.
Its parent company, IG Group, is a member of the London Stock Exchange (LSE). In addition, the IG Group has signed on to the FX Global Code of Conduct.
Oanda is a giant in the online trading atmosphere, servicing active traders around the world. Founded in 1997, Oanda furnishes clients with forex, spread-betting, CFD and shares market access.
Under the parent company Oanda Group, regional offices are operated in Europe, Japan, Singapore, Canada, Australia and the United States. All branches are registered with the proper authorities, including the U.S. Commodity Futures Trading Commission (CFTC) and the U.K. Financial Conduct Authority (FCA).
Forex.com is touted as being the number-one broker in the United States. An intermediary of parent company StoneX Group Inc., Forex.com has served U.S. forex traders for more than two decades. However, the company does have a global reach in the U.K., Japan, Canada, Cayman Islands, Australia and Singapore markets.
Formerly of Gain Capital, Forex.com offers traders services such as the Active Trader Program, advanced platform options and third-party trading apps. For U.S.-based customers, Forex.com is a premier forex trading destination.
eToro is a retail trading platform that services millions of users in over 140 countries. Launched in January 2007, eToro is credited with innovations such as the first social trading platform (OpenBook, 2010) and the international advancement of shares trading (2013). Following the integration of the "new eToro" in 2015, the platform extended its global reach via the innovative interface.
EToro USA LLC is headquartered in Hoboken, New Jersey. The company has expanded into the cryptocurrency markets and furnishes clients with copy trading, forex, CFD, crypto and shares products.
Formerly Admiral Markets, "Admirals" is an all-in-one brokerage that supports the trade of a diverse collection of asset classes. Those include forex, commodities, indices, shares and ETFs. Clients are able to trade more than 8,000 instruments through a single account.
Admirals has been providing forex and CFD brokerage services to traders around the globe for more than two decades. The firm is licensed by the U.K. Financial Conduct Authority (FCA) and adheres to U.K. insolvency law. Admirals operates under three segments: Admiral Markets U.K. LTD, Admiral Markets Cyprus LTD and Admiral Markets Pty LTD (Australia). Each branch is registered with and regulated by its local financial authority.
FXCM can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc. Commission-based pricing is applicable to Active Trader account types.
Cryptocurrency products are only available to Professional and Eligible Counterparty Clients for FXCM LTD.