Titan FX calls the Blade book a Zero Blade account and prints "Raw ECN Spreads from 0.0 pips," yet a 100,000-unit EUR/USD round turn on the schedules opened 21 October 2026 is $9.00: the Blade average of 0.2 pips is $2.00, and the $3.50-a-side commission is another $7.00.
That figure is reference arithmetic, not a live quote. On EUR/USD a standard lot is 100,000 euros and one pip is 0.0001, so the pip is worth $10 in the quote currency whatever the pair prints. Spread in pips times $10, plus commission on the open and the close, is the whole all-in cost. No spot rate enters it.
At a literal 0.0 spread the three raw books would tie, each at $3.50 a side, or $7.00 round turn. The averages separate them: Blade 0.2 pips on Titan FX's forex page, Razor 0.1 on Pepperstone's UK pairs page, 0.1 pips on IC's Raw Spread account page. Peers land at $8.00. Titan FX lands at $9.00. The gap is a tenth of a pip.
Inside Titan FX's own grid the commission book is still the cheaper one. The same forex page prints a Standard average of 1.2 pips and a Micro average of 1.4 pips, with no commission. Scaled to 100,000 euros those are $12.00 and $14.00. The fee does not make Blade the expensive Titan FX account. It makes the "from 0.0" sentence incomplete.
Updated 21 October 2026.
Key figures
- Titan FX Limited, company number 40313, is Active on the Vanuatu Financial Services Commission Financial Dealers Licensee List, licence date 29 June 2022, classes A, B and C. Source: VFSC licensee list, retrieved 21 October 2026.
- The trading-accounts page names Zero Blade, prints "Raw ECN Spreads from 0.0 pips," and states "USD 3.5 commission per 100k traded." Source: Titan FX trading accounts page, retrieved 21 October 2026.
- The account-comparison page states a Blade fee of "$3.5 per side/1 lot" and a minimum spread "From 0.0 pips." Source: Titan FX account comparison, retrieved 21 October 2026.
- The forex schedule prints EUR/USD averages of 1.2 pips on Standard, 0.2 pips on Blade and 1.4 pips on Micro, and defines a Standard or Blade lot as 100,000. Source: Titan FX forex page, retrieved 21 October 2026.
- Blade all-in cost for a 100,000-euro round turn is $9.00, from $2.00 of that average plus $7.00 of commission. Source: calculated 21 October 2026 from the forex page and the account comparison.
- The footer says the site is operated by Titan FX Limited, registration 40313, regulated by the Vanuatu Financial Services Commission, registered office 1st Floor, Govant Building, 1276 Kumul Highway, Port Vila. Source: Titan FX legal footer, retrieved 21 October 2026.
- Platforms named are MetaTrader 4, MetaTrader 5 and Titan FX Social. Base currencies listed are USD, EUR, JPY and SGD. Source: Titan FX trading accounts page, retrieved 21 October 2026.
What the nine dollars is made of
Two Titan FX documents do not use the same words for the fee.
The trading accounts page, retrieved 21 October 2026, lists Zero Standard, Zero Blade and Zero Micro. Under Blade it says "USD 3.5 commission per 100k traded" and "Raw ECN Spreads from 0.0 pips." It does not add "per side" or "round turn." One reading is a $3.50 round turn. The other is $3.50 each time 100,000 units trade. Those readings are $3.50 apart.
The account comparison, opened the same day, chooses. It says "even with a $3.50 per side commission per lot," the table cell is "$3.5 per side/1 lot," and a later line says "a commission of $3.5 per lot per side applies." This review uses the per-side figure. Round turn on one standard lot is $7.00, or 0.7 pips before any spread. A Blade print of 0.0 would still cost that 0.7. The zero advertisement leaves it out of the headline.
The forex page prints Blade EUR/USD at 0.2 pips, Standard at 1.2 and Micro at 1.4, and does not date the window. Pepperstone, below, does. The 0.2 is the firm's reference print as retrieved on 21 October 2026, not a terminal tick. Spread cost is 0.2 times $10, which is $2.00. With the $7.00 commission the round turn is $9.00, or 0.9 pips. "From 0.0" and 0.2 can both be true. One is a floor. Cost lives in the average plus the fee.
| Titan FX account | EUR/USD average | Commission, round turn | Cost of 100,000 euros, round turn |
|---|---|---|---|
| Standard | 1.2 pips | $0 | $12.00 |
| Blade | 0.2 pips | $7.00 | $9.00 |
| Micro, scaled to 100,000 units | 1.4 pips | $0 | $14.00 |
A Micro lot is 1,000 units, so the $14.00 row is one hundred micro lots, not one clip. One micro lot at 1.4 pips is $0.14. The comparison page also says Standard is "From 1.0 pips" and Micro "From 1.4 pips." Floor and average match on Micro. They do not on Standard or Blade. Mixing a minimum with a mean changes the ranking.
Order type is STP on Standard, ECN on Blade and STP on Micro. Scalping is allowed without limits on frequency, hold time or size. Standard and Blade run from 0.01 lots to 100 lots, with up to 200 positions including limits and stops. Swap is triple on Wednesday, except USDCAD and USDTRY on Thursday. No EUR/USD swap figure is printed on these pages.
Leverage copy splits the same way the fee copy does. The accounts page says up to 1000:1 on Blade and Standard and up to 2000:1 on Micro. The comparison page allows 2,000 times on Micro only when equity across live accounts is below USD 1,000, with at least 10 closed trades and 5 standard lots, and otherwise 1,000 times.
Same axes, three raw books
The peers are the raw-style accounts. Pepperstone's figures come from the UK FX pairs and spreads page, retrieved 21 October 2026. The footer names Pepperstone Limited, company 08965105, authorised by the Financial Conduct Authority under 684312, office at 4th Floor, 27 Old Jewry, London, EC2R 8DQ. IC Markets' figures come from the Raw Spread account page, which redirected to ic.com the same day. That page says IC and IC Markets Global are trading names of Raw Trading Ltd, regulated by the Seychelles Financial Services Authority under securities dealer licence SD018, registration 8419879-1.
Pepperstone's majors row for EURUSD is Razor minimum 0, Razor average 0.1, Standard minimum 1, Standard average 1.1. Razor commission, per one standard FX lot per side, is £2.25, $3.50, €2.60 or CHF 3.30, on MT4, MT5, cTrader, TradingView and the Pepperstone platform. Standard forex has no commission. Footnote 1 says the spreads were taken from 01/08/2026 to 31/08/2026, all sessions, including rollover. On this UK page that is 1 August to 31 August 2026.
The page never says pip. It says spreads start "from just 0.0points." This matrix reads 0.1 and 1.1 as pips. Standard sits 1.0 above Razor and charges nothing. If those units were tenth-pip points, commission-free Standard at about $1.10 would beat Razor plus $7.00. The page is not built that way. Read as pips, Razor is $8.00 and Standard is $11.00. That unit is a reading, labelled as one.
IC's account page says the average EUR/USD spread "is 0.1 pips, with only a small commission of $3.50 per lot payable per side." That is $8.00. The spreads page repeats 0.1 pips in the introduction, then prints a EURUSD row of 0, 0.01, 0.8 and 0.1. A 0.8 minimum beside a 0.1 average cannot be one series. The bar uses 0.1. The 0.01 cell would make IC $7.10, and using it silently would overstate the gap. Another 0.0 line, on that broker's numbers, is the MultiBank note.
| Axis | Titan FX Blade | Pepperstone Razor | IC Markets Raw, MetaTrader |
|---|---|---|---|
| Name on the page | Zero Blade / Blade | Razor CFD | Raw Spread |
| EUR/USD average used here | 0.2 pips | 0.1, read as pips | 0.1 pips |
| Minimum the page also prints | From 0.0 pips | 0 | From 0.0 pips |
| USD commission per side | $3.50 | $3.50 | $3.50 |
| Round-turn commission | $7.00 | $7.00 | $7.00 |
| Spread cost, 100,000 euros | $2.00 | $1.00 | $1.00 |
| All-in round turn | $9.00 | $8.00 | $8.00 |
| Entity on the page opened | Titan FX Limited | Pepperstone Limited | Raw Trading Ltd |
| Number on that page or the register | VFSC company 40313 | FCA 684312 | FSA SD018 |
| Spread window dated on the page | Not printed | 1 to 31 August 2026 | Not printed beside the 0.1 |
A "from 0.0" headline makes the three books look alike. The fee puts them level on commission and a dollar apart on the average. Minimums alone would tie the bars at $7.00. Pepperstone's window includes rollover. Titan FX does not date the hours inside the 0.2.
Where the bars land
Pepperstone and IC Markets share $8.00 because the inputs match. Titan FX is the orange bar at $9.00 because the forex page prints 0.2 rather than 0.1.
The IC bar is MetaTrader. cTrader and TradingView on the spreads page are $3 per 100,000 US dollars a side, with a worked example at 1.3000 and 1.3100 that is the page's illustration, not a 21 October print. The MetaTrader card is USD 3.50 a side (USD 7.0 round turn) and EUR 3.25 a side (EUR 6.5 round turn). Titan FX lists EUR as a base currency and still quotes Blade commission in dollars only.
Euro commission at the ECB reference
The European Central Bank file eurofxref-daily.xml was retrieved on 21 October 2026 at about 07:26 UTC. The latest Cube is dated 2026-10-20, with a US dollar rate of 1.1215. The 21 October fixing was not in the file. The ECB publishes around 16:00 CET, and this session was earlier, so the rate used is the latest official reference available that morning. The ECB calls these rates averages of buying and selling rates for information, not dealing prices.
Pepperstone's euro Razor commission is €2.60 per standard lot per side, €5.20 round turn. Times 1.1215 that is 5.8318 dollars, $5.83 to the cent, against a $7.00 dollar round turn. The printed euro tariff converts to $1.17 less than the printed dollar tariff.
The same page says that if the account is not in dollars, "$3.5 will be converted at spot rate in your account currency." That is a second method. Dividing $3.50 by 1.1215 gives €3.1208 a side, not €2.60. The euro column is its own tariff, €0.5208 under a straight conversion, about 16.7 percent. A euro account on the printed column is cheaper in dollars than a dollar account. A spot conversion of $3.50 would not produce that discount. Both sentences are on the page.
IC's card goes the other way. EUR 6.50 round turn times 1.1215 is 7.28975 dollars, $7.29 to the cent, against $7.00. The euro IC account costs about 29 cents more per lot than the dollar account at the 20 October reference. Per side, EUR 3.25 times 1.1215 is $3.64, against $3.50.
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Same fixing, opposite gaps. The bar stays on each firm's dollar tariff. The euro account does not. A sterling commission taken from a UK page, rather than converted out of a dollar headline, is the FXCM note on £2.00 a side. Converting Titan FX's $3.50 at the ECB rate would invent a euro card the firm has not printed.
The name on the register
The legal footer on the accounts page and the forex page, retrieved 21 October 2026, says the website is operated by Titan FX Limited, registration number 40313, regulated by the Vanuatu Financial Services Commission, registered office 1st Floor, Govant Building, 1276 Kumul Highway, Port Vila, Vanuatu. Head office is given as Pot 564/100, Rue De Paris, Pot 5641, Centre Ville, Port Vila. The footer adds that Titan FX is not under JFSA supervision and that the site is not aimed at residents in Japan.
The VFSC Financial Dealers Licensee List, retrieved the same day, has a row dated 29 June 2022 for company 40313, TITAN FX LIMITED, class A, B, C, status Active. The list does not define the classes. The letters are left as printed.
The regulation page also names Atlantic Markets Limited, licence SIBA/L/23/1124, and Titan Markets, licence GB20026097. A research-hub footer names Goliath Trading Limited, Seychelles SD138. The EUR/USD schedule sits on the site whose English footer names Titan FX Limited. The table prices a brand. The register confirms one Vanuatu dealer. It does not say which group company holds a given contract.
Other lines on that page are Titan FX's wording, not VFSC rows. Client funds "are fully segregated from Titan FX's own funds," with audits by DFK Collins Pty Ltd. A Special Compensation Fund line says it "Protects up to €20,000, per complaint, against Titan FX." A directors-and-officers policy is described at up to USD 2,500,000 a claim, which covers leadership rather than that €20,000. None of this was matched to a policy or a bank letter here.
Pepperstone's FCA entity states that 73.6 percent of retail investor accounts lose money when trading spread bets and CFDs with this provider. Titan FX prints no equivalent share. The percentage is not taken off the $8.00 bar.
The forex page says negative-balance protection "will be applied once the account is scrutinised and eligibility is confirmed by our Trade Operations Team." The test is not listed. A Blade fill rate "of over 99.8%" has no sample, so it stays out of the matrix. Minimum deposit is "None." That does not shrink the full-lot charge. A ticket that looks free until the close is counted is the Plus500 EUR/USD note.
Pros and cons
For Blade, the footer names a company and a Port Vila office, and the VFSC list shows 40313 Active. Averages are published, the commission is stated per side, and $9.00 undercuts Standard at $12.00 and scaled Micro at $14.00. Scalping is allowed. MT4 and MT5 are named. No minimum deposit is shown.
Against it: Zero Blade sits beside an all-in of 0.9 pips, a dollar above the two peer readings. The regulation page names further licences. Negative-balance cover is a review, not an opening term. The 0.2-pip average is undated. Euro is a base currency without a euro commission card.
Verdict
Titan FX rates 3.4 out of 5 on this evidence. The zero advertisement does not survive the firm's own Blade schedule: $3.50 a side is $7.00 before the 0.2-pip average adds $2.00, and the round turn is $9.00, a dollar behind the Pepperstone and IC Markets raw books and still inside Titan FX's commission-free averages. The Vanuatu register confirms company 40313 as an active financial dealer, a named counterparty rather than an anonymous brand, and not the FCA number on the Pepperstone page used here. Read the Blade line as a $9.00 reference cost with a date on it, not as a free raw spread.