Forex brokers are at the centre of global currency trading, facilitating trillions in daily volume. But how much do they earn each month? The answer varies widely based on client base, business model, trading volume, and fee structure. This article explores exactly how much forex brokers make per month, breaking down income sources and profitability benchmarks across the industry.

How Forex Brokers Make Money

1. Spreads (Bid-Ask Difference)

Brokers earn a portion of the spread on every trade.

• Example: If a trader buys 1 standard lot of EUR/USD at a 1-pip spread, the broker earns approximately $10.
• Monthly income scales with the number of lots traded.

2. Commissions (ECN/STP Accounts)

Some brokers offer raw spreads with a fixed commission per trade.

• Standard rate: $3.5 per side, or $7 per round turn per standard lot
• If 10,000 lots are traded monthly:
  → $7 × 10,000 = $70,000 monthly commission income

3. Swap Fees (Rollover Charges)

Brokers earn overnight interest differentials when traders hold positions beyond the daily close.

• Often marked up slightly
• Highly profitable when managing large position volumes

4. Order Flow (B-Book Brokers)

Market makers (B-book brokers) internalise trades and may profit when clients lose.

• Riskier, but higher margin
• Average monthly earnings depend on risk exposure and trader success rate

5. Markup on Liquidity

Brokers may add a small markup to liquidity providers’ pricing.

• Common in STP models
• Earnings depend on trade frequency and volume

Monthly Revenue by Broker Type

Revenue Per Client Example

Case Study: Mid-Tier Broker Monthly Revenue

Assume a broker with:

• 5,000 active clients
• Avg 30 lots/client/month
• Commission: $7 per lot (ECN)

Revenue:

• 5,000 × 30 = 150,000 lots
• 150,000 × $7 = $1.05 million/month

Add:

• Swap fees and markup: $200,000
• Partnership rebates or IB programs: $100,000
• Total Monthly Revenue: ~$1.35 million

Top Broker Benchmarks

Factors That Influence Monthly Profit

• Client activity rate
• Geographic region and leverage rules
• Business model (ECN vs B-book)
• Liquidity and IT infrastructure costs
• Regulatory licence and compliance burden

Key Takeaways

• Forex brokers can earn $100,000 to $10+ million per month, depending on size, volume, and model
• ECN brokers profit from commissions and technology fees
• B-book brokers earn more per client but take on risk
• Monthly income scales with lot volume and client retention
• The most profitable brokers combine raw pricing, automation, and efficient execution infrastructure

Frequently Asked Questions

How do forex brokers make money monthly?

They earn from spreads, commissions, swap fees, and sometimes client losses (if B-book). Monthly earnings depend on trading volume and account types.

How much does a small forex broker earn per month?

A small broker with 500 active clients trading 20 lots/month each could earn $70,000–$150,000/month from spread and commission income.

Can a forex broker make millions per month?

Yes. Top-tier brokers like Exness and IC Markets earn tens of millions per month due to high trade volume and institutional flow.

Do brokers earn money even when traders win?

Yes. ECN/STP brokers earn per trade regardless of trader outcome. Only market makers may be negatively affected by profitable clients.

What is the most profitable forex broker model?

B-book (market maker) models can be the most profitable if managed well, but ECN and hybrid models are more transparent and lower-risk.

Please leave this field empty

What’s The Best Broker, Educator & Prop Firm?

We don’t spam! Read our privacy policy for more info.

Check your inbox or spam folder to confirm your subscription.