CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. PipTax compares costs; it is not investment advice.
Cost comparison — USDJPY session mean-reversion

What usdjpy session mean-reversion really costs, broker by broker

All-in cost — spread + commission + swap — for a reference profile of 12 trades/day, 1.0 lots, ~6.0h average hold on USDJPY. Same numbers for every visitor. Want your own profile? Use the cost tool.

BrokerPricing Per tradePer month
IG (standard)Market maker$8.00$2,016
OANDA (spread)Market maker$9.12$2,300
XM (Ultra Low)Market maker$9.75$2,457
Pepperstone RazorECN raw$10.25$2,583
IC Markets RawECN raw$10.45$2,633

For this profile, IG (standard) is the cheapest of the 5 brokers we compare, at published-spec pricing — actual fills vary. The gap between cheapest and most expensive is $617/month for identical trades.

Most retail investor accounts lose money when trading CFDs — check each broker's own current risk disclosure before opening an account. Data as of 11 July 2026 (published specifications, sample set; live-measured feeds in development). Past costs do not predict future costs. How we calculate this.