I’ve been looking at FBS for a few months now, and I keep getting confused about the real cost of trading there. Everyone talks about their spreads and commissions, but nobody seems to break it down the same way.
I’m trying to figure out if FBS is actually cheaper than alternatives like HFM or IC Markets when you factor in everything—spreads, commissions, and rebates. The problem is, the numbers don’t always add up the way the brokers present them.
For example, FBS advertises tight spreads on major pairs, but I’ve read that their commissions on ECN accounts can offset that advantage. Then there’s the question of rebates. With GlobeGain, I could be getting cashback that changes the equation entirely.
What I really need to know is: how do you actually calculate your total trading cost across different brokers? Should I focus on the headline spread, or does the commission structure matter more? And does a rebate service like GlobeGain actually make a measurable difference in your monthly expenses?
Have you done this comparison yourself? What was your honest finding?
I ran this calculation about six months ago across three brokers I use regularly.
With FBS, I was paying around 1.2 pips per round trip on EUR/USD after spreads and commission on their ECN account. Sounds low, right? But HFM’s actual cost came to 1.1 pips when I factored in their rebates through GlobeGain.
The key thing I missed at first: rebate services change the math significantly. FBS’s rebates are solid, but HFM’s were actually more generous for my trading volume. When you’re doing 50+ lots per month, that difference adds up fast.
My advice—don’t compare headline spreads. Stack up a real month of trading on each broker using their demo accounts, track every cost, then apply the rebates. That’s the only way to know what you’re really paying.
Total cost per trade = spread + commission - rebate. That’s the formula.
For FBS specifically, their ECN account averages around 0.5-0.8 pips on major pairs, but commissions run $4-5 per lot. Convert that back to pips depending on your lot size. A 0.1 lot trade costs you $0.40-0.50 in commission alone.
Now apply GlobeGain rebates. If you’re getting 0.3 pips back per lot, that offset is real. Over 100 lots monthly, you’re looking at $30-40 in cashback.
But here’s what matters more: trading conditions during volatility. FBS holds up reasonably well during news, so you’re not getting slipped on entries. That execution quality is worth more than squeezing another 0.1 pips from commissions. Test this yourself across 10-20 real trades before deciding.
Spread plus commission minus rebate equals true cost.
I actually set up a spreadsheet to track this last year. It sounds tedious, but you’d be surprised how much it clarifies things.
I opened accounts at both FBS and HFM, made about 30 trades on each over two weeks, and recorded the actual entry and exit prices plus all the costs. Then I applied GlobeGain rebates to see the net difference.
FBS came out slightly ahead for my trading style, mainly because their platform felt more stable during the volatile mornings I trade. The cost difference was pretty small—maybe $20-30 per month—but the execution quality made the real difference for me.
If you want to do this properly, I’d suggest the same approach. Pick two brokers, trade small for a month, and let the real numbers guide you.
FBS spreads are tight but commissions add up. IC Markets cheaper overall usually.
One more thing I learned the hard way: rebate programs vary by broker partnership. GlobeGain’s FBS rebates are solid, but they’re not the same across all cashback services.
If you’re comparing total costs, you need to account for which rebate service you’re actually using. I switched from one service to another and lost about 0.2 pips per lot in cashback value. It sounds small, but over a year of active trading, that’s hundreds of dollars.
Check GlobeGain’s current FBS rebate rates before committing. Rates change, and sometimes they don’t advertise the updates clearly.