ModMount Commissions and Fees Overview



We, at Traders Union, conducted a thorough analysis of ModMount's fees, resulting in a score We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria of 3 /10. This corresponds to a High level. Here are some of the most relevant indicators of ModMount’s fee structure:
ModMount fees overview:
Standard account EUR/USD spread, min pips | 0,4 |
Standard account EUR/USD spread, max pips | 0,7 |
Withdrawal fee, % | 3,5 |
Inactivity fee ($, per month) | 100-500 |
ModMount Forex spreads and commissions
To assess the cost-effectiveness of ModMount, we analyzed its spreads across the most popular account types. These were compared with the top two competitors that have high overall ratings and accept clients in your region.
ModMount Standard account spread
Standard accounts at ModMount offer floating spreads with a broker markup. They typically have higher spreads than ECN or RAW accounts but do not charge additional commissions per lot, ensuring a straightforward cost structure.
ModMount | Phillip Securities | XPro Markets | |
---|---|---|---|
Floating spread EUR/USD, min pips The cost of 1 pip in USD for EUR/USD is $10. | 0,4 | 0,3 | 0,2 |
Floating spread EUR/USD, max pips | 0,7 | 0,6 | 0,7 |
Floating spread GBP/USD, min pips | 0,5 | 0,5 | 0,8 |
Floating spread GBP/USD, max pips | 0,7 | 0,6 | 0,7 |
Looking for tight market spreads without broker markup?
After reviewing data from over 200 brokers, we found that ECN accounts typically cost around $5.10 per lot on EUR/USD (including both spread and commission), while Standard accounts average 0.8 pips, which equals approximately $8 per lot.
Since ModMount doesn’t offer ECN accounts, we compared three brokers that do, to help you evaluate lower-cost alternatives for EUR/USD trading.
Plus500 | Pepperstone | OANDA |
Industry average Based on the evaluation of over 200 forex brokers |
|
---|---|---|---|---|
ECN Commission per lot, $ |
3 | 3,5 | 3,5 | |
ECN Spread EUR/USD | 0,1 | 0,15 | 0,17 pips | |
ECN Spread GBP/USD | 0,15 | 0,2 | 0,21 pips |
What is ModMount’s average EUR/USD spread?
The average spread on ModMount can fluctuate depending on overall market volatility. For EUR/USD, the typical spread is around 0,6 pips under normal trading conditions, but it may widen during periods of high volatility.
ModMount non-trading fees
We conducted an analysis of ModMount’s non-trading fees to provide a detailed overview of the additional costs that may affect traders outside their regular trading activities.
ModMount Non-Trading Fees
ModMount | Phillip Securities | XPro Markets | |
---|---|---|---|
Deposit fee, % The indicated amount excludes potential fees charged by payment systems and banks. | 0-1 |
No
|
No
|
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. | 3,5 |
No
|
0-1,5 |
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. | 30 |
No
|
10-100 |
Inactivity fee ($, per month) | 100-500 |
No
|
100-500 |
What is the cost of executing one Forex lot with ModMount?
The cost of executing 1 standard lot (100,000 units) with ModMount depends on market volatility, which can fluctuate significantly throughout the day. Since there are no additional commissions, all trading costs are included in the spread. We calculated the approximate execution cost for 1 lot during peak market hours for clarity.
Spread cost in USD | Commission ($ per lot) | Total cost in USD | |
---|---|---|---|
Standard account | 5.5 | 0 | 5.5 |
Understanding Forex trading costs
When evaluating a Forex broker, it is essential to consider several factors that can directly impact the overall cost of executing trades, beyond just the average spread. Here are some key considerations:
Liquidity and daily turnover
Higher liquidity and larger daily turnover generally lead to tighter spreads and reduced slippage.
Top 3 Forex brokers by trading turnover
Broker | Daily turnover ($, billion) |
---|---|
IC Markets | 29 |
Saxo Bank | 20,01 |
StoneX | 18,6 |
Order Execution Speed
Faster order execution can reduce slippage, helping to ensure that trades are completed at the expected prices. Execution speed is typically highest on ECN accounts.
ModMount does not offer ECN or Raw Spread trading accounts. For traders looking for true ECN execution, Plus500 and Pepperstone are solid alternatives, known for providing direct market access and low trading costs.
Free VPS
A free VPS provides a stable, high-speed connection, which can reduce latency and slippage, especially for automated trading systems and high-frequency trading. This helps ensure consistent performance and potentially lower execution costs.
ModMount provides traders with free VPS hosting to ensure stable and low-latency execution.
ModMount extra services for active traders vs competitors
The table below compares the extra services offered by ModMount for active traders with those of its competitors. These features can enhance trading efficiency and strategy implementation. The comparison showcases how ModMount stands out in meeting the needs of active traders through its advanced tools, such as API and TradingView integration, and convenient options like one-click trading and support for scalping.
ModMount services for active traders
ModMount | Phillip Securities | XPro Markets | |
---|---|---|---|
API |
Yes
|
Yes
|
No
|
Signals (alerts) |
Yes
|
Yes
|
Yes
|
TradingView integration |
No
|
No
|
No
|
Trading bots (EAs) |
Yes
|
No
|
Yes
|
Scalping |
Yes
|
No
|
Yes
|
One click trading |
Yes
|
Yes
|
Yes
|
Minimizing trading costs: Expert tips
Choosing the right Forex broker is crucial for minimizing costs and boosting profitability. Below are expert insights from our recent fee analysis to help you make informed choices and maximize your trading returns.
Beyond spreads and commissions, it's crucial to consider overnight financing charges, also known as swap rates. These fees apply to positions held open past the daily cutoff time, typically 5 PM EST.
For traders engaging in longer-term strategies or swing trading with ModMount, these swap rates can significantly affect overall profitability. ModMount calculates these charges based on the interest rate differential between the two currencies in the traded pair. Depending on the direction of your trade and the prevailing interest rates, traders may either pay or receive a swap fee. Some traders even employ a strategy known as "carry trading," which focuses on capturing positive swaps.
Note that many brokers apply triple swap charges on Wednesday or Friday to account for the weekend. This means the overnight fee is tripled on these days.
ModMount Swap Fees
ModMount | Phillip Securities | XPro Markets | |
---|---|---|---|
Swap Rates EUR/USD (Long) | -0,701 | -0,325 | |
Swap Rates EUR/USD (Short) | 0,200 | 0,125 |