I opened TradeStation's cash EUR/USD schedule the way this desk opens every broker ticket, on the firm's own page, before a comparison site was allowed to supply a number.
The cash pair sits on TradeStation Global. TradeStation International Ltd, FCA registration number 445531, introduces the client to an Interactive Brokers (UK) Limited account under that trading name. The platform on the Global homepage is TradeStation, with Trader Workstation, the IBKR mobile app and IBKR WebTrader beside it. The forex commissions page prices that single cash-forex schedule at 0.6 basis points of trade value, minimum 2.00 dollars per order. The forex trading page prints a 1,000 dollar funding minimum. Schedules below were retrieved on 10 November 2026.
The US pricing page leaves spot EUR/USD off a list of stocks, options and futures, so a reader who starts there misses the cash ticket. The useful question in a TradeStation review of this pair is which legal entity sends the invoice. On the brokers desk that name is the first line I read, for the same reason the Axiory entity check separates the brand from the contract holder.
Key facts
- Cash EUR/USD commission on TradeStation Global is 0.6 basis points of trade value, minimum 2.00 dollars per order. Source: TradeStation Global forex commissions page, retrieved 10 November 2026.
- At the schedule's illustrative rate of 1.0632, the table prints that charge as 0.63 pips on EUR/USD. Source: TradeStation Global forex commissions page, retrieved 10 November 2026.
- The account is an Interactive Brokers (UK) Limited universal account introduced by TradeStation International Ltd, FCA number 445531. Source: TradeStation Global homepage and complaints policy, retrieved 10 November 2026.
- OANDA Corporation's US spread-only table prints EUR/USD at 1.4, and that section says the spread is the only cost. Source: OANDA US pricing page, retrieved 10 November 2026.
- GAIN Capital Group LLC, doing business as FOREX.com, prints spread-only EUR/USD as low as 1.2 and a RAW commission of 7 dollars per 100,000 dollars traded. Source: FOREX.com US trading costs page, retrieved 10 November 2026.
- The US TradeStation pricing page lists equity, option and futures tiers and leaves spot EUR/USD off that schedule. Source: tradestation.com/pricing, retrieved 10 November 2026.
Who bills the ticket
The Global homepage footer says TradeStation International Ltd is authorised and regulated by the FCA under 445531 and acts as an introducer to group affiliates and to Interactive Brokers (UK) Limited. Trading services come from TradeStation Securities or from IBUK, depending on account type, and the introducer stands outside those agreements. The complaints policy, dated 20 May 2026, repeats that reference and the London address at P03 The Old Power Station, 121 Mortlake High Street, SW14 8SN.
The disclosure for a returning applicant covers customers applying to Interactive Brokers (UK) Limited after a TradeStation International Ltd introduction. Both firms are described as FCA-authorised. The introducer offers brokerage or trading services in neither capacity, and TSIL is paid for the introduction and for technical support. I left IBUK's direct rate off the comparison because that link leads to a page the desk left closed.
Cash forex and a plain currency conversion are different permissions on the Global forex page, and conversion is a straight exchange of one currency for another. Cash forex, once the extra permission is granted, is the margin ticket priced below, with exchange and regulatory fees included and VAT added where it applies.
What 0.6 basis points is in dollars
One basis point on the commissions page is 0.0001, so 0.6 basis points is 0.00006 of trade value. Note 4 calculates the charge off trade value and then converts it into the account's base currency. The three commissions in this comparison are already in dollars, so the desk used a ten-dollar pip on 100,000 euros, from 100,000 times 0.0001, and left the ECB reference rate unused.
At the table's illustrative rate of 1.0632, 100,000 euros are 106,320 dollars, and 0.00006 of that is 6.3792 dollars on one order, about 6.38. The same cell prints 0.63 pips, which is 6.30 dollars, and the gap up to 6.38 dollars is rounding. The page then adds an Interactive Brokers quote, described as low as 0.1 pip, to one commission and calls 0.73 pips a representative spread. The footnote says those rates are examples rather than live spreads.
A round turn is two orders, so commission is 12.7584 dollars and the 1.00 dollar example spread, paid once, makes an illustrative total of 13.76 dollars. Counting the commission on both legs turns 0.73 pips into 1.36. The product page, opened the same day, builds a 1.4 pip total from 0.1 plus 1.3 pips of commission, while the table under that sentence still prints 0.63. The formula, the fee page and both tables agree. The 1.4 pip sentence is the outlier.
Same axes, three schedules
The peers whose pages opened here are OANDA Corporation on the US spread-only model and GAIN Capital Group LLC, doing business as FOREX.com, on the spread-only account. Both print a EUR/USD spread and describe a separate commission of zero on that account. TradeStation Global has one published forex commission line, and that line is the tier. Volume rebates sit well above one 100,000 euro ticket, so they stay out of the worked total.
| Broker | Entity and platform | Tier | EUR/USD figure | Commission | Regulator on the page |
|---|---|---|---|---|---|
| TradeStation Global | TradeStation International Ltd introduces an Interactive Brokers (UK) Limited account. Platforms: TradeStation, Trader Workstation, IBKR mobile, IBKR WebTrader | Single cash-forex schedule. Funding minimum 1,000 dollars | Illustrative quote 0.1 pip | 0.6 basis points per order, minimum 2 dollars | FCA 445531 on the introducer. IBUK described as FCA-authorised |
| OANDA | OANDA Corporation. Platforms: OANDA Trade and MT4 | US spread-only | 1.4 in the spread table | The spread is the only cost on that section | Margin from 2 percent on EUR/USD |
| FOREX.com | GAIN Capital Group LLC, Warren, New Jersey, part of StoneX Group. Platforms: FOREX.com, MetaTrader 4 and 5 | Spread-only account | As low as 1.2 | Dealing cost sits in the spread. RAW is 7 dollars per 100,000 dollars, per side | CFTC FCM and RFED, NFA 0339826 |
OANDA's US pricing page also says, under a heading about execution firewalls, that commission is charged on the buy and the sell, with a minimum of 0.01 dollars a trade. The spread-only section says the spread is the only cost. I followed the printed 1.4 and left the 0.01 dollar line out until OANDA ties it to a named tier. Margin on that page starts from 2 percent on EUR/USD.
One ticket, worked in dollars
The unit is a round turn on 100,000 euros. The spread is counted once on the way in, and a per-order commission is counted on the open and again on the close. Pip figures convert at 10 dollars per pip on this size. These are published figures and worked examples, and they are live quotes in none of the three cases.
| Schedule | Spread component | Commission, round turn | Worked total | What the number is |
|---|---|---|---|---|
| TradeStation Global | 1.00 dollar from the 0.1 pip example | 12.76 dollars, two times 6.3792 at 1.0632 | 13.76 dollars | Illustrative rate plus their example quote |
| OANDA, US spread-only | 14.00 dollars from the 1.4 table spread | Zero on the spread-only description | 14.00 dollars | Table spread, at 10 dollars a pip |
| FOREX.com spread-only | 12.00 dollars from an as-low-as 1.2 | Zero on that account | 12.00 dollars | Published floor. The page says spreads can be wider |
| FOREX.com RAW at 1.0632 | Zero if the spread is at the 0.0 floor | 14.88 dollars, two times 7.44 | 14.88 dollars before any wider spread | Their formula on TradeStation's illustrative rate |
FOREX.com's US trading costs page shows a RAW example at 1.1000, where 100,000 euros are 110,000 dollars and the commission is 7.70 dollars a side, 15.40 dollars round trip. The 14.88 dollar row moves that formula onto 1.0632, and any spread above the 0.0 floor is extra. The firm on the page is GAIN Capital Group LLC of Warren, New Jersey, NFA 0339826, inside StoneX Group.
Read the bars as three different published numbers forced into one unit. TradeStation's 13.76 dollars includes an example quote the firm labels as an illustration. OANDA's 14.00 dollars is the table spread, and that page says spreads can widen around the open, the close and major events. FOREX.com's 12.00 dollars is an as-low-as floor, and the chart is a comparison of those published figures.
Where the two-dollar minimum takes over
The rate and the 2 dollar minimum are alternatives, and the higher one wins. They meet at 33,333.33 dollars of trade value, because 2 divided by 0.00006 lands there. A 10,000 euro ticket at 1.0632 is worth 10,632 dollars. The formula produces 0.64 dollars on that ticket, and the minimum lifts the order to 2 dollars, or 4 dollars across an open and a close. On 100,000 euros the minimum is idle, because 6.38 dollars clears 2 dollars with room. A modified order, or one that persists overnight, can be treated as a new order for that minimum.
What the US site prices instead
The US pricing page is a securities and futures schedule: a 0 dollar stock and ETF headline, 0.005 dollars on sub-dollar and OTC executions, and futures from 1.75 dollars down to 0.50 dollars a side. Spot EUR/USD is absent from every row. The Global homepage banner sends US-market clients toward a TradeStation Securities account, which is how the 0.6 basis-point line gets missed.
Pros, cons, and a verdict
The commission is one rate, written as a formula, with a dollar minimum per order, and exchange and regulatory fees are described as inside that charge. The introducer, the account holder, the FCA number and the London address are on pages a client can open before sending money. The homepage says CFD trading is unavailable on TradeStation Global, which keeps a second product off this ticket.
The spread inside the 0.73 pip total is labelled illustrative, so a live all-in cost appears only after the account exists. The 1.4 pip sentence conflicts with the 0.63 pip table on the same product page. The US pricing URL omits the cash pair, and the 2 dollar minimum changes the bill under 33,333 dollars of trade value. On this ticket I mark the schedule 3.5 out of 5, because the formula is readable and the quoted spread stays an illustration.
The platform the commission sits on
The Global homepage calls the account an Interactive Brokers universal account on the TradeStation platform and names RadarScreen, the Matrix and EasyLanguage. TradeStation's own account on X pointed new users at a weekly platform session, which is support rather than a fee disclosure.
Relatedtastyfx vs FOREX.com on the Same US EUR/USD Round Turn
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Simulated trading sits in the support menu and can teach the ticket layout, while the cost that matters is the live ticket plus any financing still running when that clock strikes.
Questions on the ticket
Which company actually holds the EUR/USD position?
TradeStation International Ltd introduces you and is FCA-authorised under registration number 445531. The disclosure says the brokerage account is with Interactive Brokers (UK) Limited, also described as FCA-authorised, while the introducer stands outside the IBUK customer agreement. TradeStation Securities is the US path on the Global homepage, and it is a different account from the cash-forex ticket.
Is the 0.73 pip figure the full round turn?
On the commissions page, 0.73 pips is an example quote of 0.1 pip plus one printing of the 0.63 pip commission. A round turn sends a second order, so the commission is charged again. At 1.0632, two commissions are about 12.76 dollars and the example spread adds 1.00 dollar, for 13.76 dollars on 100,000 euros. The product page's 1.4 pip line uses a commission the table replaces with 0.63.
How do OANDA and FOREX.com compare on the same size?
At 10 dollars per pip on 100,000 EUR/USD, OANDA's spread-only table of 1.4 converts to 14.00 dollars, with a separate commission left off that model. FOREX.com's spread-only figure, as low as 1.2, converts to 12.00 dollars, and the page says the spread can be wider. RAW is a different tier: 7 dollars per 100,000 dollars a side, or 14.88 dollars round trip at 1.0632 before any spread above zero.
When does the two-dollar minimum replace the basis-point rate?
The rate and the minimum meet at 33,333.33 dollars of trade value, because 2 divided by 0.00006 lands there. A 100,000 euro ticket at 1.0632 sits above the line, so the order is about 6.38 dollars. A 10,000 euro ticket at that rate is worth 10,632 dollars. The formula yields about 0.64 dollars, and the minimum lifts each order to 2 dollars.
Does a US dollar account pay a conversion fee on EUR/USD?
FOREX.com says a conversion charge of plus or minus 1.0 percent applies when the market settles in a currency other than the account base, and a EUR/USD trade in a dollar account avoids that charge. TradeStation Global's note 4 converts the commission into the account base currency after calculating it off trade value. OANDA's spread-only line wraps the dealing cost in the spread. Match the line to the account you will hold.
What to read before you fund the account
Treat the list as a reading order, the same way the Tradeview ticket note separates billed lines from the headline rate.
- Confirm TradeStation Global, with TradeStation International Ltd as introducer and Interactive Brokers (UK) Limited as the account, and check FCA 445531 on the register the disclosure names.
- Confirm the offer is cash-forex permission, as distinct from a straight currency conversion, and that the 1,000 dollar funding minimum still matches the forex page.
- Read 0.6 basis points and the 2 dollar minimum per order, and mark whether size sits above or below 33,333 dollars of trade value.
- Count two orders on a round turn, because the 0.73 pip line adds the commission once and the 1.4 pip sentence conflicts with the 0.63 pip table.
- Match OANDA and FOREX.com on one unit: spread once, commission per order, same euro size. Keep RAW on its own row, and leave volume rebates out unless the published gate is cleared.
- Open the Interest and Financing link in the Global pricing menu before an overnight hold, because the commissions page prices the order and financing sits on its own page.
- Keep US stocks, options and futures on the TradeStation Securities schedule, with its inactivity and IRA fees, which is the wrong page for this EUR/USD ticket.
- Read the complaints policy for the London address and the eight-week final-response path, and keep the line that says TSIL is paid for the introduction.
Forex trading can put more than the ticket cost at risk, and losses on a margin cash position can exceed the dollars you send in. The figures above are schedule references retrieved on 10 November 2026 from the firms' own pages, and the decision to fund an account stays with you.