How to categorize a Broker as cheap?

Below are the main criteria that we have considered when making this ranking:

• The minimum deposit must be low (or null). A low minimum deposit means that operating the platform does not require a lot of capital.

• The Broker should not charge a fixed commission per trade. The Broker must charge commissions because that is what they do, but when they set a fixed rate, it implies that a buy and sell order must have a minimum amount to generate any profit. As an example, if you open a trade for a total value of 20 dollars and the Broker charges a fixed commission of 10 dollars to complete the operation (Opening and Closing), then the trade must generate at least 10 dollars, that is, it must grow 50%. Brokers that do not charge a fixed commission tend to charge high spreads.

• Spreads and Overnight Financing should be as low as possible. Related to the previous, if a broker does not charge fixed commissions, the only way to earn money is through margins and overnight financing. Overnight financing costs are levied when a trade is left open until the next day; Brokers charge this cost as if it was a loan, which, indeed, it is. To be considered low, these trading costs should be as low as possible.

• Last but not least, the Broker has to be available to clients in Azerbaijan.

Below we present our Top 3 of the best Trading platforms that we consider as 'Low Cost'.