The two pricing models

In the all-in-spread model, the cost is built into the difference between bid and ask: you pay no per-trade commission, but the spread starts from a higher level. In the raw spread + commission model, the spread starts from 0.0 pips — near-pure market pricing — and you pay a fixed commission per lot. Neither is «better» in the abstract: they are the same bill split two ways.

The maths, with real numbers

Take one standard lot of EUR/USD (100,000 EUR), where 1 pip ≈ 10 USD:

  • Standard account (spread from 1.8 pips, no commission): round-trip cost ≈ 18 USD.
  • Cent account (from 1.6 pips, no commission): ≈ 16 USD per equivalent lot — built for small volumes.
  • Zero Spread (from 0.0 pips + 3 USD per side): ≈ 6 USD plus the residual spread of the moment.
  • ECN PRO (from 0.0 pips + 3.5 USD per side): ≈ 7 USD plus residual spread, with institutional-grade conditions.

The honest reading: at equal volume, raw-spread accounts usually come out cheaper per trade — in exchange for a higher minimum deposit and a commission that is charged even when the spread sits at its lows.

Which account fits your trading

  • Few trades, long holds: spread weighs little in the total; a commission-free account is simpler.
  • Scalping or high frequency: every tenth of a pip matters; raw spread + commission wins almost always.
  • Small volumes while learning: the Cent account caps absolute risk while you practise with real money.
  • Algorithms and EAs: predictable costs and tight spreads make realistic backtesting easier — raw spread again.

The other costs that also count

Spread and commission are the per-trade cost, but not the only one: the swap applies if you hold positions overnight, and the inactivity fee (10 USD/month) starts after 6 months without trading. Deposits and withdrawals carry no AP Markets fee of their own, though the payment provider may apply theirs. Every number is published — always compare the whole package, not a single figure.