Trading costs are the one broker feature that hits every single trade. This page compares typical EUR/USD pricing, minimum deposits and platform access across the six internationally regulated brokers we cover — all of which accept Canadian residents.
| Broker | Spreads | Min deposit | Platforms | |
|---|---|---|---|---|
| VT Markets | From 0.0 pips on Raw ECN (plus ~$3/lot commission); from ~1.2 pips on Standard | $50 (Standard/Raw ECN) · from $0.01 on Cent accounts | MT4, MT5, TradingView integration, VT Markets mobile app | Open Account |
| StarTrader | From 0.0 pips on Pro/ECN (from ~$3–7/lot commission); from ~1.3 pips on Standard | $50 (Standard, Pro/ECN and Islamic accounts) | MT4, MT5, STARTRADER Web & Mobile, STAR Copy | Open Account |
| PU Prime | From 0.0 pips on Prime/ECN (plus $3.50/side commission); from ~1.3 pips on Cent & Standard | $20 (Cent) · $50 (Standard) · $1,000 (Prime/ECN) | MT4, MT5, PU Prime App, PU WebTrader | Open Account |
| Axi | From 0.0 pips on Pro (plus ~$3.50–7/lot commission); markup-only on Standard | $0 on Standard and Pro accounts | MT4, MT5 (added 2024), Axi proprietary platform with TradingView | Open Account |
| Bullwaves | From ~1.6–2.0 pips on Classic; from 0.8 pips on VIP; from 0.1 pips on ECN | $100 (Classic) · $3,000 (VIP) · $5,000 (ECN) | MT5 only (no MT4) | Open Account |
| Kudotrade | From 0.7 pips on Standard (no commission); from 0.0 pips on Pro (plus $8/lot commission) | $50 (Standard) · $5,000 (Pro) | MT5 only (no MT4) | Open Account |
Zero-spread and raw ECN accounts: what "lowest spread" really means
A "raw" or "ECN" account quotes near-interbank pricing (often 0.0 pips on EUR/USD) and charges a fixed commission instead. VT Markets, StarTrader, PU Prime and Axi all offer this model on their top-tier accounts. The lowest spread on paper is not always the cheapest all-in: compare spread plus commission per round turn. On this basis, Axi's Pro account and VT Markets' Raw ECN account are consistently among the cheapest of the six once commission is included.
Spread-only vs. commission accounts
Most brokers here offer two pricing models. Spread-only accounts (VT Markets Standard, StarTrader Standard, PU Prime Cent/Standard, Bullwaves Classic, Kudotrade Standard) build the broker's fee into the bid/ask spread — simpler, and usually better for smaller position sizes. Raw or ECN accounts quote near-interbank spreads plus a fixed commission per lot — typically cheaper once you're trading more than a couple of lots per day, but several (PU Prime Prime, Kudotrade Pro) require a much higher minimum deposit to access.
Don't forget deposit bonuses affect your effective cost base too
Five of the six brokers on this page currently run a first-deposit bonus of 50–100%, which effectively increases your trading margin without increasing your risk capital at stake — useful for absorbing early spread and commission costs while you find your feet. The bonus credit itself is never withdrawable, so don't factor it into your account's real cash value. See each broker's review for exact terms and excluded countries.
Don't ignore swap rates
If you hold positions overnight, financing (swap) charges can outweigh spreads entirely. Swap rates vary widely between brokers and change with interest-rate differentials, so compare the published swap schedule for the specific pairs you hold — especially on JPY crosses and exotics. All six brokers offer swap-free (Islamic) account variants for traders who need to avoid overnight interest.
Watch the non-trading fees too
Several offshore brokers charge fees that CIRO-regulated dealers typically don't: inactivity fees (Bullwaves charges $10/month after 30 days dormant), minimum withdrawal fees on small wire transfers (Bullwaves, VT Markets), and higher commissions on lower-liquidity Pro-tier accounts (Kudotrade's $8/lot Pro commission is the highest of the six). Read the fee schedule in full before you fund an account, not just the headline spread.