Brokers With No Inactivity Fees
Brokers typically make their money from the commissions, spreads, transaction charges and other fees they apply to active traders. But if a customer goes a period without making any trades, some brokerages will charge inactivity fees to ensure their business continues to make a buck. With so many other charges involved when trading, it is only natural that a less hands-on investor will look for a broker that does not charge inactivity fees.
This guide will explain the meaning of inactivity fees with examples of typical charges a trader may face. We have also compiled a list of the top brokers with no inactivity fees in 2023.
Brokers With No Inactivity Fee
#1 - Forex.com
Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
"Forex.com is an excellent broker for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score."
- DayTrading Review Team
- Instruments: Forex, Spot Metals
- Regulator: NFA, CFTC
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Forex Trading
Forex.com is a leading FX broker. The brand offers a wide range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.0 with a $7 commission per $100k.
Stocks Trading
Forex.com offers access to thousands of US, EU and UK stocks, with spreads of just 1 point. Speculate on household names as well as new IPOs. US stocks are available from just 1.8 cents per share.
Pros
- Beginner-friendly web platform and mobile app
- Excellent trading tools including Trading Central, SMART Signals and MetaTrader 4
- Top-rated forex and CFD broker
Cons
- No copy trading platform
- Investment offering varies between countries
- $15 monthly inactivity fee
#2 - eToro USA
eToro is a social investing platform that offers stocks, ETFs, options, and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, this brand is highly respected. eToro securities trading is offered by eToro USA Securities, Inc.
"eToro is a top pick for users looking for social investing and copy trading. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer traders."
- DayTrading Review Team
- Instruments: Stocks, Options, ETFs, Crypto
- Regulator: SEC, FINRA
- Platforms: Own
- Min. Deposit: $10
- Min. Trade: $10
Stocks Trading
Trade popular US stocks and ETFs with zero commissions while fractional shares and options are also available. The eToro Academy and excellent market research are also huge bonuses for newer investors.
Crypto Trading
eToro US leads the way in cryptocurrency trading. 1% fee for buying or selling crypto added to the spread (from 0.75% for BTC), with their own wallet service and the largest number of cryptos to trade in the market. eToro copy trading is only for cryptos. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
Pros
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- A free demo account means new users and prospective traders can try the broker risk-free
- The $10 minimum deposit and straightforward account opening process means beginners can get started quickly
Cons
- Narrower range of instruments than some competitors
- No MetaTrader 4 platform integration
#3 - NinjaTrader
NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
"We recommend NinjaTrader for high-volume futures traders looking for low fees and premium analysis tools."
- DayTrading Review Team
- Instruments: Forex, Stocks, Options, Commodities, Futures, Crypto
- Regulator: NFA, CFTC
- Platforms: eSignal
- Min. Deposit: $50
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Forex Trading
NinjaTrader supports the trading of popular currencies including the EUR/USD. The trading software also offers unique features tailored to forex trading, including specific order and market windows.
Stocks Trading
Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. You can then take positions on large public companies and household names via advanced trading software.
Crypto Trading
Trade micro Bitcoin futures with low fees and leading charting tools. Get exposure to Bitcoin through CME Group's centralized exchange with robust risk management tools.
Pros
- Free platform access and trade simulation capabilities
- Widely respected and heavily authorized by the NFA and CFTC
- Industry-leading futures broker with multiple awards
Cons
- Withdrawal fee on some funding methods
- Premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
#4 - AvaTrade
Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4, MT5, Web Trader, Mobile App, Vanilla Options and Social Trading. 1250+ financial instruments, educational content and multi-language customer support active 24/7. 20% welcome bonus available in allowed countries.
"AvaTrade is an excellent broker for traders of all experience levels. Beginners benefit from high-quality education, social trading and a low minimum deposit. 1000+ tradable instruments and powerful proprietary software also make AvaTrade suitable for seasoned traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CBoI, FSA, FSCA, FSB
- Platforms: MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
CFD Trading
AvaTrade offers leveraged CFD trading on a range of asset classes spanning stocks, indices, commodities, bonds, crypto, and ETFs. Traders can speculate on rising and falling prices with low fees and stable platforms in a highly regulated trading environment.
Forex Trading
AvaTrade offers 50+ currency pairs and their spreads are some of the best among any broker. You can trade majors, minors and exotics around the clock with zero commissions.
Stocks Trading
AvaTrade is a top-rated broker with access to leading exchanges including NYSE & FTSE. Take positions on leading tech firms like Tesla, Apple and Microsoft with no restrictions and reliable support.
Crypto Trading
Regulated in five continents, AvaTrade offers a secure way to access crypto markets. They offer a great range of digital currencies, very tight spreads, and 1:2 leverage. [Not available in Canada]
Pros
- AvaSocial app for copy trading
- Superior trading platforms including MetaTrader
- Plenty of free payment methods
Cons
- Inactivity fee after three months
- Some withdrawal methods are slow
#5 - OANDA US
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
"We recommend OANDA for US traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick if you want a heavily regulated broker with a secure trading environment."
- DayTrading Review Team
- Instruments: Forex, Crypto
- Regulator: NFA, CFTC
- Platforms: MT4, TradingView, AutoChartist
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:50
Forex Trading
OANDA offers 68 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
Crypto Trading
Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Clients can spot trade cryptocurrencies on Paxos's itBit exchange through the OANDA platform via OANDA’s partnership with Paxos. Users can trade digital currencies in a few taps through the iOS and Android mobile app.
Pros
- Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles
- US clients accepted
- Reliable, trustworthy and secure brand with authorization from tier-one regulators
Cons
- Customer support not available on the weekend
#6 - Deriv.com
Deriv.com is a multi-asset broker with over 2.5 million global clients. The firm offers CFDs and multipliers, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house trading software and the hugely popular MetaTrader 5.
"Deriv.com will suit traders looking for CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock."
- DayTrading Review Team
- Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
- Regulator: MFSA, LFSA, VFSC, BFSC
- Platforms: MT5
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Leverage: 1:1000
CFD Trading
Trade CFDs on popular markets, including the broker's exclusive synthetic indices which are available 24/7. New users can open an account and start trading CFDs instantly.
Forex Trading
Clients can go long or short on a string of major, minor and exotic currency pairs. Spreads are competitive vs alternatives starting at 0.5 pips. Forex CFDs are available via MT5 and multipliers on the broker's beginner-friendly DTrader.
Stocks Trading
Speculate on big stocks like IBM, Netflix and BMW, along with equity indices like the S&P 500. Deriv also offers extended hours trading up to 18 hours a day on shares with support 7 days a week.
Crypto Trading
Deriv.com offers a modest selection of 25+ crypto pairs with tight spreads and zero commissions. 1:2 leverage is also available so you can magnify potential returns.
Pros
- Choice of investing platforms
- Free demo account
- Range of deposit and withdrawal methods with zero payment fees
Cons
- Limited social and copy trading functionality
- No sign-up bonuses and on-going promotions
#7 - Pepperstone
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated firm offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
"Pepperstone is a best-in-class broker. Experienced traders benefit from razor sharp spreads with sophisticated automation tools and over 1000 instruments. Newer traders get user-friendly platforms, rich education materials and 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
CFD Trading
Pepperstone is a fast and reliable CFD broker with 1200+ assets covering forex, commodities, shares, indices, and ETFs. You can also trade currency indices, which aren't available at many alternatives. CFDs can be traded on four leading platforms with a choice of accounts and base currencies. Expert Advisors (EAs) are also supported for automated trading strategies.
Forex Trading
Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. The broker boasts an impressive 99.94% fill rate with no requotes or dealing desk intervention. Forex lots start at 0.01.
Stocks Trading
Pepperstone offers hundreds of shares covering US, UK, Australian and German stock markets. Traders can go long or short on big names like Tesla with deep liquidity and competitive commissions.
Crypto Trading
Take positions on cryptos like Bitcoin with up to 1:10 leverage. Pepperstone also offers popular altcoins, as well as crypto indices, which offer a holistic view on the digital currency market.
Pros
- World-renowned broker with licenses in 7 jurisdictions, including the UK (FCA) and Cyprus (CySEC)
- Excellent suite of automated trading tools including Capitalise.ai, Smart Trader and API trading
- Wide selection of assets including currencies indices like the US Dollar Index
Cons
- Limited payment methods for UK clients
- Cryptos only available for professional clients in some jurisdictions
- Traders from the US not accepted
#8 - IC Markets
IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.
"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, DupliTrade
- Min. Deposit: $200
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
CFD Trading
Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage.
Forex Trading
Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees.
Crypto Trading
IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet.
Pros
- Beginner-friendly social trading features including IC Social, Myfxbook and Zulutrade
- Premium educational resources and trading tools including podcasts, forex calculators and tick charts
- Responsive 24/7 customer support plus an extensive help centre
Cons
- No bonus deals for new traders
- Traders from the US not accepted
- Two-factor authentication not available for extra account security
#9 - XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted FSC-regulated broker has been well-known for its low spreads and competitive fees on 1000+ instruments. XM offers both the MT4 and MT5 platforms.
"XM will suit traders looking for a trustworthy broker with low fees, access to the reliable MetaTrader platforms, plus excellent market research and education."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto
- Regulator: ASIC, CySEC, DFSA, FSC
- Platforms: MT4, MT5
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Leverage: 1:1000
CFD Trading
Speculate on rising and falling prices with leveraged CFDs spanning popular financial markets. Users get low spreads and high-quality market insights to support CFD trading.
Forex Trading
XM offers ultra low spreads across a range of forex markets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors.
Stocks Trading
Trade hundreds of shares in major markets, including the US, UK, Europe and Asia. Traders can go long or short on stocks with commissions as low as $1 per transaction.
Crypto Trading
XM offers crypto trading through CFDs. This means you can speculate on rising and falling prices with leverage. XM offers a good range of cryptocurrencies, including major tokens like Bitcoin.
Pros
- Beginner-friendly education tools including podcasts and expert-led webinars in 16 languages
- Premium research including market sentiment, fundamental insights and strategy builders
- Powerful MT4 and MT5 platforms available via web, desktop or mobile
Cons
- $5 inactivity fee
- Traders from the US not accepted
#10 - Eightcap
Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.
"Eightcap is good for traders familiar with MT4 and MT5 looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator: FCA, ASIC, CySEC, SCB
- Platforms: MT4, MT5, TradingView
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (EU), 1:500 (Global)
CFD Trading
Trade over 800 CFDs on popular indices, shares, forex, cryptos and commodities. Clients get premium liquidity and superior execution with servers in leading data centres. Eightcap also offers more choice than most competitors in terms of platforms with MT4, MT5 and TradingView.
Forex Trading
Trade 50+ major, minor and exotic pairs with an award winning platform. Users get institutional-level prices with spreads from 0.0 pips and no commissions. The VPS will also serve high-volume, active day traders.
Stocks Trading
Trade 500+ US, Australian, and European shares on MT5 or TradingView. Bet on rising and falling share prices while using leverage to bolster potential profits. On the downside, fractional shares aren't offered.
Crypto Trading
Eightcap offers over 100 crypto-backed derivatives, more than many rivals. Bitcoin spreads are also lower than most brokers coming in at 12, while the market scanner is a unique and powerful trading aid.
Pros
- 100+ crypto derivatives, more than most brokers, including crypto crosses and indices
- Good for day trading with ECN pricing, a forex VPS and automated trading software
- Raw spreads from 0.0 pips and a competitive $3.5 per lot commission
Cons
- Cryptocrusher platform not available for Australian clients
- Demo account can only be extended upon request
- Only four commodities available
How Inactivity Fees Work
Trading brokers levy inactivity fees on customers who have an open account but are not active. This is to cover the costs of the service while the account is open but not in use, meaning the broker is unable to charge other usage fees, such as deposit fees, commission rates, or spread costs.
The nominal value of the fee differs for each brokerage. Make sure you read a broker’s policy on all costs, as well as inactivity fees, to ensure you are aware of what the charges entail and how you can avoid paying them.
It is common for a broker to take a monthly payment after a period of inactivity, usually one year, though some dormancy penalties kick in after just a few months.
Typical Charges
Here are some examples of inactivity fees at popular trading brokerages:
- XTB: This is a reputable broker offering forex trading, CFD trading, business stocks, and more. After 12 months of inactivity, there is a monthly charge of €10 (or equivalent in GBP, USD).
- IG: IG offers a range of tradable assets, such as options, forex, and cryptocurrency. You will be charged $/£12 or €14 after 24 consecutive months of inactivity.
- eToro: eToro allows users to match the trading moves of popular investors, also known as copy trading, which is a key reason for the broker’s popularity. The brand charges a $10 monthly inactivity fee on accounts that have been inactive for more than 1 year.
Trading & Inactivity Fees Explained
Beginners to retail trading and those who trade on the side often buy and hold assets that are yet to return a profit until they take a rewarding turn. If this is a strategy you follow, you may end up having to pay inactivity fees.
It is worth spending the time to research both trading strategies and the technical side of how brokers work. Some inactivity fee policies are more complicated than others. For example, before Interactive Brokers eliminated their policy, they would charge a higher inactivity fee on accounts holding less than $2,000. Other brokers base their inactivity policy on the lack of trades or deals made within a given period. Some online brokerages simply need you to log into your account to avoid paying the fee.
How To Avoid Inactivity Fees
If you do decide to sign up with a trading broker that charges an inactivity fee, make sure you have a good understanding of their terms. If the broker only charges accounts which have been inactive for 12 or 24 months, you can avoid fees by making even very sporadic transactions before the due date.
If the account requires more frequent transactions, you can keep track of when your payment is due in a journal and set up a direct debit with your broker, payable on a monthly basis or as often as necessary. Alternatively, you can log in as required and sell or swap some of your stocks. Brokers are usually satisfied that an account is active once they have been paid from a commission, spread or transaction fee.
With that said, traders are fortunate to have a wealth of options to choose from when it comes to brokers, and some of the best and most popular firms offer accounts with no inactivity fees. Pepperstone, BlackBull Markets and FP Markets are just a few well-known names on the long list of brokers which do not charge customers if they hold inactive accounts.
To check whether a broker charges an inactivity fee, you can visit their website and head to the fees section. All charges should be clearly listed here. If you still cannot find the information, contact the customer support team.
Comparing Brokers With No Inactivity Fees
Since traders have a wide range of brokers with no inactivity fees to choose from, it makes sense to consider other features too:
Range Of Markets
If your trading strategy requires access to many different assets and international markets, ensure the broker you make an account with caters to this. Some brokers specialize in specific assets, such as Coinbase and cryptos. Additionally, less popular brokerages may have limited market access, so for example may only offer stocks from within the country they operate.
Fees
Brokers can charge both trading and non-trading fees. Trading fees include deposit and withdrawal rates, transaction and commission fees, currency conversion fees, overnight fees and spread costs. Non-trading fees include inactivity fees, account maintenance fees, and subscriptions to specific tools and features.
All of these should be outlined in the broker’s terms and conditions, especially if they are regulated. Ensure you are aware of all fees and avoid brokers that are not transparent when it comes to pricing.
Customer Service
When trading, time can be very valuable, so having access to customer support can be important. The best brokers with no inactivity fees have 24/7 customer service, be it call, or live chat functions. Read reviews from customers to guarantee good quality customer service.
Minimum Deposit
Some brokers with no inactivity fees have a minimum deposit that must be met before trading can begin on the account. CMC Markets and Fusion Market do not have a minimum deposit, while IC Markets has a $200 minimum deposit and Interactive Brokers requires a $10,000 initial payment.
Security
Safety and security are key to having a successful and enjoyable trading experience. The best brokers with no inactivity fees will ensure your funds are protected through negative balance protection and other schemes. They will also ensure your personal data is safe through encryption and two-factor authentication, among other methods. Pepperstone, for instance, provides negative balance protection for all customers.
Regulation
You should always look to trade with a broker that is regulated by a top-tier authority. Regulation ensures brokers are held to high standards and means they cannot take advantage of or scam traders. Some of the best authorities around are the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) and Australian Securities and Investment Commission (ASIC). The best brokers will hold licenses with one or more of these.
Trading Platforms
Different brokers will utilize a range of trading platforms. This can include third-party platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader. On the other hand, some brokers may develop and supply their own bespoke trading platform.
Ensure the platform of your chosen broker supports all your needs using tools such as technical indicators, price alerts and signals.
Education
The key to trading successfully is to be constantly learning. Many of the best brokers with no inactivity fees provide a host of educational resources that can teach you about trading and help enhance your skills. At some online brokers, these are available for free, while at others you may have to pay. In all cases, though, the material will usually help you to trade more effectively and are a sensible place to start for beginners.
Final Word On Brokers With No Inactivity Fees
Brokers often charge inactivity fees to accounts that are not used for an extended period. In some cases, these fees can start being charged from as early as 3 months, and you may face a new charge every 30 days after that. Policies differ between brokers, so to avoid paying extra fees, check the terms and conditions before opening an account. Also use our list of the best trading brokers with no inactivity fees.
FAQs
Are Brokers With Inactivity Fees Legal?
It is legal for brokers to charge inactivity fees in the UK, US, Australia, Africa and Europe. Specific regulations differ so do your research before opening an account. Additionally, do not get the regulations and rules on brokers mixed up with those that apply to banks on credit card accounts.
What’s An Example Of Brokers With No Inactivity Fees?
Pepperstone, IC Markets, and RoboForex are all examples of regulated brokers that do not implement an inactivity fee. More information on these is available in our detailed reviews.
What Do I Do When Charged With An Inactivity Trading Fee?
Usually, due to brokers outlining the details of inactivity fee charges on their websites, once a fee is charged, you will not be able to claim it back. The best way to not pay an inactivity fee is to be aware of policies beforehand.
How Will Trading Brokers Charge Me Inactivity Fees?
When you open an account with a broker, you will set up a payment method, be it PayPal, a credit card or a debit card. This will then be used if you are charged with any costs, including inactivity fees.
When Will I Be Charged An Inactivity Fee By My Trading Broker?
This differs amongst brokerages. Some can charge as early as 3 months, although it is more common for inactivity fees to be charged from 12 months. Some may also give you 24 months’ leeway. Ensure you do your research on a broker’s policy before opening up an account, and sign in regularly – even if it’s only once in three months – to make sure you don’t miss any changes to the broker’s terms and conditions.