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The UK forex broker FXOpen announced it has lowered the commissions by introducing a new fee structure for the ECN accounts. The new commission can be as low as 1.5 units of base currency per side per lot.
The company notes that the new fee structure means that even its clients with small deposits could get relatively low commissions, while taking advantage of the narrow spreads and fast execution of the ECN accounts.
Naturally, the commission rates changes, reflecting the size of the client’s deposit and/or the traded volume per month.
The new commissions are in effect since February 8 and all client accounts have been checked and automatically adjusted for the new commission rate, where necessary. FXOpen informs that for forex pairs with a base currency, other than a USD, the commission is calculated in units of the base currency – if the currency pair is EURUSD, the commission is calculated in EUR.
FXOpen is regulated by UK’s FCA. It offers forex and CFD trade, via ECN and STP accounts with different level of experience and investment. The minimum deposit for a live account is $300 and the leverage is up to 1:500.