I’ve been trading with another broker for about a year, and my fees are starting to feel high. People keep telling me HFM is cheaper, especially if I use GlobeGain rebates, but I don’t know how to actually calculate whether switching is worth it.
I’m not trying to waste time testing a new platform if the savings are only going to be a few dollars per month. But if it’s substantial, I want to know.
How do I fairly compare my current broker’s total costs to HFM with GlobeGain rebates included? Should I look at spreads alone, or do I need to factor in execution quality and slippage? And does the switch actually make sense if I’m already comfortable with my current setup?
Has anyone actually done this comparison and switched? What was the real difference in your monthly costs?
Calculate costs per lot. Compare spreads commissions rebates directly.
Execution matters more than quoted spread sometimes.
Here’s the framework: calculate your average cost per lot on your current broker over the last three months. Include spreads, commissions, and any fees.
Then do the same for HFM with GlobeGain rebates factored in.
Example: current broker costs you 1.8 pips per lot average. HFM might cost 1.2 pips without rebates, then 0.9 pips with a 0.3 pip GlobeGain rebate. That’s roughly 50% savings.
On 100 lots per month, that’s 90 pips saved, which translates to $900 on standard lots.
BUT execution matters. If your current broker slips you less than HFM, the spread difference might be offset. Test HFM with micro lots during your normal trading times before committing.
Switching is worth it if your calculation shows consistent savings of at least 20-30% on monthly fees. Less than that, and the hassle usually isn’t worth it.
I switched from Pepperstone to HFM last year with GlobeGain, and here’s what I actually found:
On paper, HFM looked about 0.4 pips cheaper per trade. With the rebate, it was closer to 0.6-0.7 pips cheaper. Over 40 trades a month, that’s around $250-300 in savings.
Was it worth switching? Sure, but only because my trading style didn’t change much. Setting up the new account took time, and I had to relearn some platform habits.
My recommendation: if you’re only seeing 10-15% savings, don’t bother. If you’re seeing 30% or more, run a test account for a few weeks first.
Write down your monthly fees at current broker and compare to HFM fees with rebates.
I did this exact comparison six months ago. Here’s my actual breakdown:
My previous broker was costing me about 1.5 pips average per trade with commissions and spreads combined. HFM without rebates was 1.3 pips. With GlobeGain rebates at 0.35 pips, my effective cost dropped to 0.95 pips.
On my trading volume of about 150 lots per month, that worked out to roughly $750 in monthly savings. That’s real money.
But here’s what I’d tell anyone considering this: the savings only matter if you actually stick with the new broker long enough to recover the switching costs. Moving platforms, learning new features, adapting to different execution feels like it cost me about two weeks of productivity.
If you’re seeing less than 20% total cost reduction, I’d stay put. If it’s 30% or more like mine was, the math works.