Every trade has a cost. The two main ones are the spread and the commission.
Spread
The spread is the gap between the price you can buy at and the price you can sell at. You pay it when you open a trade. A tighter spread means a lower cost.
Commission
Some accounts charge a fixed fee per lot, often with a smaller spread. Others charge no commission and use a wider spread. Compare the total, not one number.
Swap
Holding a position overnight can add or subtract a small amount called swap. It depends on the interest rates of the two currencies.
What to check
- Total cost per trade for your usual size.
- Costs during news, when spreads widen.
- Any fees for deposits, withdrawals or inactivity.