How much does one forex trade cost?
The cost of one forex trade is the spread plus any commission plus any swap, each turned into money for your volume. Slippage can add to it and a rebate takes part of it back. A 0.5 lot EUR/USD trade at a 0.8 pip spread with no commission costs $4.00 before swap.
Ask most traders what their last trade cost and they will quote the spread. The full answer has more parts.
This lesson adds them up for one trade, with two worked examples you can redo on paper or in the calculator.
The formula
Total cost = spread cost + commission + swap.
Net cost = total cost - rebate.
Each part in money:
- Spread cost = spread in pips × pip value × lots. See what the spread is.
- Commission = round-turn commission per lot × lots. See commission per lot.
- Swap = swap per night × nights, with Wednesday counted three times. See swap fees.
- Rebate = rebate per lot × lots. See what a forex rebate is.
Slippage is a cost too. You only learn its size after the fill, so it stays out of the plan and shows up in your results.
Example 1: EUR/USD held for two nights
You buy 0.5 lot of EUR/USD on a standard account with a USD balance. You hold it from Monday to Wednesday morning, then close.
The inputs:
- Spread: 0.8 pip, the measured median on Exness Standard on 29 October 2026.
- Pip value: $10 per lot, so $5 for 0.5 lot.
- Commission: none on this account type.
- Swap long: an illustrative -6.5 points, which is -$6.50 per lot per night.
- Nights: the Monday and Tuesday rollovers, each counted once.
Step by step:
- Spread: 0.8 × $10 × 0.5 = $4.00.
- Commission: $0.00.
- Swap: $6.50 × 0.5 × 2 nights = $6.50.
- Total cost: $4.00 + $0.00 + $6.50 = $10.50.
- Rebate: AutoFXRebate lists about $3.20 per lot on Exness Standard EUR/USD (40% of the typical spread), so $3.20 × 0.5 = $1.60.
- Net cost: $10.50 - $1.60 = $8.90.
Notice that two nights of swap cost more than the spread. One more night, through Wednesday's rollover, would add three nights at once: $6.50 × 0.5 × 3 = $9.75.
Example 2: gold, intraday, on a commission account
You trade 0.2 lot of gold on Exness Raw Spread and close before the rollover. The spread, commission and rebate come from AutoFXRebate's Exness page, read on 29 October 2026.
- Spread: $0.08 per ounce × 100 ounces × 0.2 lot = $1.60.
- Commission: $7.00 per lot × 0.2 = $1.40.
- Swap: none, because the trade closed before the rollover.
- Total cost: $1.60 + $1.40 = $3.00.
- Rebate: $3.00 per lot × 0.2 = $0.60.
- Net cost: $3.00 - $0.60 = $2.40.
The order of the parts changes from trade to trade. Here commission is almost half the bill, and swap is zero.
Turning cost into break-even pips
Money is one view. The other is how far the price must move before the trade is level.
Break-even move = net cost ÷ (pip value × lots).
For example 1: $8.90 ÷ ($10 × 0.5) = 1.78 pips. EUR/USD has to move 1.78 pips your way just to reach zero. Without the rebate it would be $10.50 ÷ $5 = 2.1 pips.
Break-even also tells you whether a target is realistic. A trade like example 1 aiming for 3 pips would hand more than half of its gain to costs.
For gold the same idea works in dollars per ounce: $2.40 ÷ (100 × 0.2) = $0.12. Gold has to move 12 cents in your favour. Rebate and break-even takes this further.
From one trade to a month
Costs repeat with every trade. Twenty trades like example 2 in a month is 20 × $2.40 = $48 net, or $60 before the rebate.
Twenty trades like example 1 is 20 × $8.90 = $178 net, or $210 before the rebate. Small differences per lot become real money over a year.
That is why the account type and the hours you trade matter. Comparing broker costs shows where the savings come from.
Let the calculator do it
The trading calculator takes a broker account, symbol, volume and nights held. It returns the spread, commission, swap, the rebate estimate and the net cost of the trade.
Use your own figures rather than the ones here, because spreads and swap rates change. If your account is in euros or another currency, convert each dollar amount at the current rate; the calculator does that for you.
Questions
What costs are included in one forex trade?
The spread, commission if your account charges it, and swap if you hold past the rollover. Slippage can add to it, and a rebate takes part of it back.
How do I calculate the spread cost in dollars?
Multiply the spread in pips by the pip value per lot and by your lots. On EUR/USD with a USD account: 0.8 pip × $10 × 0.5 lot = $4.00.
Is swap part of the trading cost?
Yes, for any position open at the daily rollover. On trades held for days it is often the largest of the costs.
Does a rebate lower my break-even point?
Yes. It lowers the net cost, so the price needs to move fewer pips before the trade is level. In the EUR/USD example it fell from 2.1 to 1.78 pips.
Keep learning
Chapter 1How does commission per lot work in forex?Commission is a fixed fee per lot that raw and zero spread accounts charge on top of a thin spread. Brokers quote it per side, for opening or for closing, or per round turn, for both. To compare it with a spread, divide it by the pip value: $7 per lot on EUR/USD is 0.7 pip.
Chapter 1What is swap in forex, and why is Wednesday triple?Swap, or rollover, is the interest you pay or earn for holding a forex position past 17:00 New York time. It comes from the gap between the two currencies' interest rates, plus the broker's markup. Most forex pairs charge three nights on Wednesday to cover the weekend.
Chapter 1What is slippage in forex trading?Slippage is the difference between the price you expected and the price your order filled at. It happens when the market moves between your click and the execution, most often around news, the daily rollover and the weekly open. Market and stop orders can slip; limit orders fill at your price or better, but may not fill.
Chapter 1Standard vs Raw spread account: which costs less?A standard account charges everything through a wider spread. A raw or zero account shows a spread close to the market's own and adds a commission per lot. Neither is cheaper by default. Convert both to dollars per lot on your symbol, subtract any rebate, and the cheaper one becomes clear.
Chapter 1How do you compare trading costs between brokers fairly?To compare brokers fairly, use the same symbol, the same time window and the typical (median) spread, not the advertised minimum. Add commission, turn everything into dollars per lot, and include swap if you hold overnight. Then subtract any rebate to see the net cost you actually pay.
Chapter 1Trading costs cheat sheet.Every forex trade pays some mix of spread, commission and swap, and can lose a little more to slippage. A rebate gives part of it back. This page puts the formulas, a table of measured spreads and one worked example in one place, with a link to the full lesson on each cost.
