What this page covers
Most brokers offer several account types on the same platform. The difference is almost entirely in how they charge you, and the cheapest headline is rarely the cheapest total.
| Account | Spread | Commission | Typical minimum | Suits |
|---|---|---|---|---|
| Standard | Wider, 1.0 to 1.8 pips | None | R1,000 to R5,000 | Lower frequency trading |
| Raw or ECN | 0.0 to 0.3 pips | USD 6 to 7 per lot | R5,000 to R20,000 | Frequent trading |
| Islamic | As the base account | Administration fee instead of swap | As the base | Swap-free requirement |
| Professional | Raw | Negotiated | High | Large volume |
| Demo | Simulated | Simulated | None | Learning the platform |
| Account | Spread cost | Commission | Total per round turn |
|---|---|---|---|
| Standard, 1.4 pips | USD 14.00 | USD 0.00 | USD 14.00 |
| Raw, 0.2 pips | USD 2.00 | USD 7.00 | USD 9.00 |
| Raw, 0.0 pips | USD 0.00 | USD 7.00 | USD 7.00 |
| Standard, 1.8 pips | USD 18.00 | USD 0.00 | USD 18.00 |
| Item | Why |
|---|---|
| Total cost at your volume | Raw wins above a few lots a month, standard below |
| Overnight swap | Dominates the cost on a position held for weeks |
| Base currency | A rand account avoids conversion on every deposit |
| Minimum lot size | Decides the smallest position you can size properly |
| Whether the licence covers your account | An offshore entity may hold it, not the local FSP |
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Every table on this page as a spreadsheet, with the source and the date it was checked in the header rows.
⬇ Download CSVHow these figures work
The figures on this page come from the body that publishes them and change on a schedule rather than continuously, which is what makes them worth keeping in one place. Raw spread accounts are cheaper only above a certain volume. Below roughly five lots a month the commission usually outweighs the tighter spread.
An Islamic account replaces swap with a flat administration fee, which on a long-held position can exceed the swap it replaced. Compare the two over the period you actually hold.
★ What this means in practice
Check which legal entity holds your account. A broker with a South African FSP number may still book retail clients through an offshore entity, which changes what protection applies.
✕ Common mistakes
- Raw spread accounts are cheaper only above a certain volume. Raw spread accounts are cheaper only above a certain volume. Below roughly five lots a month the commission usually outweighs the tighter spread.
- An Islamic account replaces swap with a flat administration fee, which o. An Islamic account replaces swap with a flat administration fee, which on a long-held position can exceed the swap it replaced. Compare the two over the period you actually hold.
- Check which legal entity holds your account. Check which legal entity holds your account. A broker with a South African FSP number may still book retail clients through an offshore entity, which changes what protection applies.
- Taking a figure without its date. A number from a reference page is only as good as when it was last checked, which is why the date sits at the top of this one.
Notes on reading these figures
- Raw spread accounts are cheaper only above a certain volume. Below roughly five lots a month the commission usually outweighs the tighter spread.
- An Islamic account replaces swap with a flat administration fee, which on a long-held position can exceed the swap it replaced. Compare the two over the period you actually hold.
- Check which legal entity holds your account. A broker with a South African FSP number may still book retail clients through an offshore entity, which changes what protection applies.
To put these figures to work, The Bid-Ask Spread Cost Calculator runs the arithmetic on your own numbers; Trading Cost Calculator covers the same ground in ordinary language; How to Verify an FSP Licence goes into the detail this table only summarises; Market maker versus ECN broker is the related figure worth reading beside it; and Leverage and Margin Limits covers what this page leaves out.
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Frequently asked questions
Is a raw spread account cheaper?
Only above roughly five lots a month. Below that the commission usually outweighs the tighter spread.
What does a standard lot cost?
About USD 14 on a 1.4 pip standard account, against about USD 9 on a raw account at 0.2 pips plus USD 7 commission.
What is an Islamic account?
Swap is replaced by a flat administration fee. On a long-held position that fee can exceed the swap it replaced.
Should I open a rand account?
It avoids a conversion on every deposit and withdrawal, which adds up.
Does a demo account behave like a live one?
The prices are usually real but execution is not. Slippage and rejection do not appear on a demo.
Which entity holds my account?
Worth checking. A broker with a South African FSP number may still book retail clients through an offshore entity.