I’m trying to figure out the real math here. Everyone talks about spreads, but nobody seems to actually calculate the total cost after rebates kick in.
Let me lay out what I’m seeing. Tickmill advertises 0.5-0.7 pip spreads on majors with rebates around 0.2 pips. That would put my net cost at around 0.3-0.5 pips per side. Other brokers like IC Markets or Pepperstone seem to have similar spreads but different rebate structures through GlobeGain.
I want to know what people have actually tracked. Not what the brokers claim, but what you’ve really paid per trade after everything is factored in. Have you compared Tickmill to other brokers you’ve used and kept actual numbers?
Also, does the rebate percentage change based on your trading volume? I want to understand if scaling up my trades changes the cost equation.
Track costs for one week. Shows real numbers not marketing.
Tickmill rebates increase with volume yes.
IC Markets cheaper after rebates most days honestly.
The rebate calculation is straightforward but most traders miss the details. Most brokers on GlobeGain tier their rebates based on monthly volume. Tickmill typically starts around 0.2 pips at lower volumes and can go up to 0.4 pips if you’re trading 50+ lots per month.
IC Markets usually sits around 0.15-0.35 pips depending on your volume tier. The difference looks small, but on 100 trades per month, that adds up.
Here’s the thing though. Spread consistency matters more than raw pip numbers. A broker with 0.7 pip spreads that never widens is often cheaper than one with 0.5 pip spreads that jumps to 1.2 pips during volatility.
My recommendation: Download your statements from two brokers you’ve used and calculate your actual average spread over a month. Then subtract the rebates you received. That’s your true cost per lot. Compare those real numbers, not the advertised ones.
I went through this same comparison a few months ago. I tracked my costs on Tickmill and Pepperstone for a month side by side.
Tickmill came out slightly cheaper overall, about 0.35 pips average net cost per side. Pepperstone was around 0.4 pips. The difference was small, honestly, maybe 50-75 dollars per month for my trading volume.
What made me stick with Tickmill wasn’t the cost difference though. It was the platform stability and the rebate tracking being clearer. Both brokers are solid for scalping, so I’d say pick the one where you feel more comfortable with the platform.
Just download statements and calculate it yourself. That’s the only way to know.
I actually keep a spreadsheet tracking costs across three brokers I use regularly. Tickmill, IC Markets, and FXPro. Over the last 6 months, Tickmill has averaged 0.38 pips net cost on EUR/USD, IC Markets around 0.41 pips, and FXPro around 0.44 pips.
But this changes based on time of day and market conditions. During London open, Tickmill spreads are tighter. During US session, IC Markets often beats it out. For scalping, you need to look at when you actually trade, not just broad averages.
The rebate tiers do increase with volume, yes. I hit the second tier at about 30 lots per month, which bumped my Tickmill rebate from 0.2 to 0.3 pips. That was worth it.
One more thing that matters. Withdrawal speed and fees are part of the real cost equation too. If one broker charges 25 dollars to withdraw and another is free, that’s another cost point to factor in. Tickmill is pretty reasonable on withdrawals, which is part of why I prefer it.