Raw Spread vs Standard Account: The Real Cost per Lot, Worked Out
By Alex Wu · Published
Every forex broker offers the same choice: a "standard" account with no commission and a wider spread, or a "raw" account with a near-zero spread and a commission per lot. Brokers advertise the parts that look best ("spreads from 0.0 pips", "zero commission"). The only number that matters is the total: spread plus commission, per lot, round trip. We turned the official figures into that one number and worked out the spread at which each raw account starts to win.
Data checked: 5 November 2026. All figures are for EUR/USD and a standard lot of 100,000 units unless stated.
The short version
- On IC Markets, a Raw Spread account costs about $8 per EUR/USD lot: the average spread IC states (0.1 pips, worth $1) plus $7 of commission round trip.
- The raw account wins whenever the standard spread is wider than 0.8 pips. IC's Standard account spreads start "from 0.8" pips, so at its very best it only ties, and on any normal day it costs more.
- Bigger accounts pay less commission. IC's Raw Pro ($3 round trip, $5,000 minimum deposit) and Raw Pro+ ($2, $100,000 minimum) cut the cost per lot to about $4 and $3.
- RoboForex's ECN commission works out to $4 per lot for USD-based pairs and about $4.34 on EUR/USD at the exchange rate in its own example.
- We could not confirm Exness, XM or HFM figures on the check date, so we give the method instead of guessed numbers.
How we worked it out
Cost per lot = spread cost + commission.
- Spread cost: on EUR/USD, one pip on a standard lot is worth $10, so a 0.1-pip spread costs $1 per lot and a 1.0-pip spread costs $10. You pay the spread once per round trip (you buy at the ask and sell at the bid).
- Commission: brokers quote it "per side", so a round trip (open and close) pays it twice. We always use the round-trip figure.
- Break-even spread: the standard-account spread at which both accounts cost the same. It equals the raw spread plus the round-trip commission converted into pips ($10 = 1 pip on EUR/USD).
Sources: IC Markets account overview and IC spreads and commission rates, and the RoboForex help article on Prime/ECN commission. Our IC Markets page and RoboForex page list the codes for each broker.
IC Markets: every account, priced per lot
IC states an "average EUR/USD spread" of 0.1 pips on its Raw Spread account. It does not publish a separate average for Raw Pro and Raw Pro+, which it says use the same raw pricing, so we applied 0.1 pips to all three raw accounts. For the Standard account IC states only a minimum ("from 0.8" pips), so we show the best case and two typical-looking spreads for comparison.
| IC account | Commission per side | Round trip | Min. deposit | Spread used | Cost per lot |
|---|---|---|---|---|---|
| Raw Pro+ (MetaTrader) | $1.00 | $2.00 | $100,000 | 0.1 pips ($1) | $3.00 |
| Raw Pro (MetaTrader) | $1.50 | $3.00 | $5,000 | 0.1 pips ($1) | $4.00 |
| Raw Spread (MetaTrader) | $3.50 | $7.00 | $0 | 0.1 pips ($1) | $8.00 |
| Raw Spread (cTrader) | $3 per $100k traded | $7.83 in IC's example | $0 | 0.1 pips ($1) | $8.83 in IC's example |
| Standard, best case | $0 | $0 | $0 | 0.8 pips ($8) | $8.00 |
| Standard at 1.0 pip | $0 | $0 | $0 | 1.0 pips ($10) | $10.00 |
| Standard at 1.2 pips | $0 | $0 | $0 | 1.2 pips ($12) | $12.00 |
The cTrader commission is charged on the US-dollar value traded, so it depends on the EUR/USD rate. IC's own example, at 1.30 and 1.31, comes to $7.83 for a round trip on one lot. The two Standard rows at 1.0 and 1.2 pips are illustrations, not figures IC publishes.
Break-even spreads
This is the number to remember: if the standard account's spread is wider than this, the raw account is cheaper.
| Raw account | Raw spread + commission in pips | Break-even standard spread |
|---|---|---|
| IC Raw Pro+ | 0.1 + 0.2 | 0.3 pips |
| IC Raw Pro | 0.1 + 0.3 | 0.4 pips |
| IC Raw Spread (MetaTrader) | 0.1 + 0.7 | 0.8 pips |
| RoboForex ECN (USD-based pair) | spread + 0.4 | spread + 0.4 pips |
Because IC's Standard account starts at 0.8 pips, at IC's stated average spread the Raw Spread account is never more expensive than the Standard account's best case, and the Pro tiers are cheaper. RoboForex publishes its ECN commission but we did not find a stated average ECN spread on the official pages we read, so its break-even is shown as "raw spread plus 0.4 pips".
RoboForex ECN: commission from its own example
RoboForex says Prime and ECN accounts are charged a commission "for a full transaction (opening and closing of the position)". Its MetaTrader 4 ECN example uses 20 USD per 1,000,000 USD traded:
- USD-based pairs (such as USD/JPY): 1 lot = $100,000, so $2 per side and $4 per round trip.
- EUR/USD: 1 lot = €100,000, which it converts at 1.08585 to $108,585, so $2.17 per side and $4.34 per round trip.
At $4 a lot, RoboForex's ECN commission is below IC's Raw Spread ($7) and close to IC's Raw Pro ($3). The spread decides the rest, and you will see it live in the platform before you trade.
What it means over a month
Here is the cost of 50 round-trip lots of EUR/USD a month on each IC account, using the cost per lot above.
| Account | Cost per lot | 50 lots a month | 12 months |
|---|---|---|---|
| IC Raw Pro+ | $3.00 | $150 | $1,800 |
| IC Raw Pro | $4.00 | $200 | $2,400 |
| IC Raw Spread (MT) | $8.00 | $400 | $4,800 |
| IC Standard, best case | $8.00 | $400 | $4,800 |
| IC Standard at 1.2 pips | $12.00 | $600 | $7,200 |
The jump from Raw Spread to Raw Pro halves the bill, which is worth more than most rebates or bonuses. If you trade with Exness or RoboForex, forex rebates can bring the cost down further; our guide explains how they are calculated.
Brokers we could not confirm
On the check date, Exness showed its account pages only after sign-in in our region, and the official XM and HFM account pages could not be read by our checker. We did not want to copy their spreads and commissions from review sites, so they are not in the tables. To compare them yourself, take the account's live EUR/USD spread from the platform, add the round-trip commission divided by $10, and compare the result with the break-even spreads above.
Who should pick what
- Low volume, a few lots a month: either account type is fine; the difference is a few dollars. A standard account is simpler because the cost is all in the spread you see.
- Active traders and scalpers: choose a raw account. Any standard spread above the break-even (0.8 pips on IC Raw Spread) costs you on every trade.
- Larger accounts: check the minimum deposit for the lower-commission tiers. On IC, $5,000 moves you from $7 to $3 round trip.
- Gold and indices traders: commissions apply only to forex and metals on IC, so on indices the spread is the whole cost.
For the leverage each broker allows, see our maximum leverage comparison, and for all five brokers side by side, the forex broker codes page.
Limits of this study
- EUR/USD only. Pip values differ on other pairs; USD/JPY and gold work out differently.
- Spreads widen around news and at the daily rollover, so an "average" spread is not what you get on every trade.
- We did not include swaps (overnight financing), which matter more than commission for positions held for weeks.
- Commission is shown in USD; other account currencies have their own rates on IC's table.
TradeSavings may earn a commission when you open an account with a code or link on this site, at no extra cost to you. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This page is information, not financial advice.
Frequently asked questions
- Is a raw spread account cheaper than a standard account?
- On IC Markets, yes for EUR/USD: the Raw Spread account costs about $8 per lot and the Standard account at least $8, usually more. The higher the volume, the bigger the gap.
- How much is IC Markets' commission per lot?
- $3.50 per side ($7 round trip) on the MetaTrader Raw Spread account, $1.50 per side on Raw Pro and $1.00 per side on Raw Pro+. On cTrader it is $3 per $100,000 traded, per side.
- What is the RoboForex ECN commission?
- In RoboForex's own example, 20 USD per million traded, per side: $4 per round-trip lot on USD-based pairs and about $4.34 on EUR/USD.
- How do I convert commission into pips?
- Divide the round-trip commission by the pip value. On EUR/USD a standard-lot pip is $10, so $7 of commission equals 0.7 pips.
- Why does the same commission look different on gold?
- Pip values differ by instrument. On EUR/USD a standard-lot pip is $10, so $7 equals 0.7 pips. On gold the contract size and pip value are different, so convert using the contract details in your platform before comparing accounts.
- Does a partner code change spreads or commission?
- No. A partner or referral code does not change a broker's spreads or commission.