What is a forex swap rate and how is it calculated?
CostsLast verified 2026-04-01Reviewed by editorial team
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by our editorial team (Marcus Weber CFA, Sofia Lindgren FRM, Daniel Ferretti LLM).
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Related questions
Standard vs Raw Spread account — which should I choose?
Choose a Raw Spread account if you trade more than 5 standard lots per month or use automated strategies. Choose a Standard account if you trade occasionally or prefer a single all-inclusive cost number. Raw accounts cost less per trade above that volume threshold; Standard accounts are simpler below it.
What is the cheapest forex broker in Europe?
The cheapest forex broker in Europe for EUR/USD is IC Markets, with an all-in cost of approximately $7 per standard lot on the Raw Spread account (0.0 pip spread + $7 round-turn commission). Pepperstone matches this on the Razor account. Both are CySEC or BaFin regulated.