How to verify that a broker is properly regulated
Licence numbers, contracting entity and client-money arrangements decide which rules you can rely on in a dispute.
Read more →Independent research · Data as of August 2026
2026 derivatives brokersspread & cost review
Independent research for reference only. Not investment advice.
8
Brokers
5
Criteria
Monthly
Reviewed
2026-08
Updated
Get our trading-cost and public offer-policy guide, or join the group for monthly research updates.
Regulation, trading costs & offer policies
Cost data comes from public disclosures and our own sampling. Offer policies include only publicly verifiable conditions. Actual costs and eligibility vary by region, account type and current terms.
XM
- Regulation
- CySEC / ASIC / FSC
- Avg spread
- EURUSD ~1.6 pips
- Leverage
- 1:1000
- Funding
- E-wallets minutes, cards 1–3 days
- Platforms
- MT4 / MT5
- Offer policy
- Regional promotions may apply; eligibility and official terms apply
Pepperstone
- Regulation
- FCA / ASIC / CySEC
- Avg spread
- EURUSD ~0.1 pips + commission
- Leverage
- 1:500
- Funding
- E-wallets instant, bank 1–2 days
- Platforms
- MT4 / MT5 / cTrader
- Offer policy
- Partner or regional offers may apply; terms vary by account
FXTRADING.com
- Regulation
- VFSC / ASIC affiliates
- Avg spread
- XAUUSD ~0.18 pips
- Leverage
- 1:500
- Funding
- E-wallets minutes, bank 1–3 days
- Platforms
- MT4 / MT5
- Offer policy
- Account promotions may be available in eligible regions; official terms apply
IC Markets
- Regulation
- ASIC / CySEC / FSA
- Avg spread
- EURUSD ~0.1 pips + commission
- Leverage
- 1:500
- Funding
- E-wallets instant, bank 1–2 days
- Platforms
- MT4 / MT5 / cTrader
- Offer policy
- Partner offers may apply; eligibility and terms vary by region
Exness
- Regulation
- FCA / CySEC / FSCA
- Avg spread
- EURUSD ~0.2 pips
- Leverage
- 1:2000 (dynamic)
- Funding
- E-wallets instant, withdrawals auto
- Platforms
- MT4 / MT5 / proprietary
- Offer policy
- Regional promotions are not available in every market; eligibility applies
Interactive Brokers
- Regulation
- SEC/FINRA / FCA / ASIC
- Avg spread
- EURUSD ~0.2 pips + commission
- Leverage
- 1:30–1:50 (region)
- Funding
- Bank transfer, 1–3 days
- Platforms
- TWS / API / mobile
- Offer policy
- Referral or regional offers may apply; eligibility and regional restrictions apply
For comparison only. Not a recommendation, return promise or guarantee of any offer. Promotions can change, expire or be restricted by region and eligibility; check the broker's official terms before applying.
Request the 2026 broker trading costs & offer guide
Independent research on sampled brokers' trading costs and publicly disclosed offer conditions. Availability varies by region, account type and official terms.
Trader guides
Cost structure matters more to long-term results than any single trade.
How swap rates affect longer-term strategies
Overnight financing accrues daily, so for position traders it often dwarfs the spread.
Read more →Spread, commission and slippage: the three layers of trading cost
Comparing spreads alone understates real cost — execution quality moves net returns just as much.
Read more →