I’ve been trying to compare IC Markets against a few other brokers but every comparison I find seems to focus on different factors. Some mention spreads, others talk about commissions, and I never get a clear picture of what actually costs me less over time.
The thing is, I don’t think just looking at spreads tells you much. If one broker has tighter spreads but takes a commission, versus another with wider spreads but no commission, how do you really know which one is cheaper?
I’ve heard people mention rebates changing the equation but I’m not sure how to calculate that into my actual trading costs. Does a rebate actually make a significant difference or is it just a small bonus?
I’m trying to build a framework for comparing brokers that actually works. What factors do you really track when you’re deciding between platforms? What’s made the biggest difference in your actual trading costs?
Calculate: spread plus commission minus rebate equals real cost.
Test each broker with your actual trading strategy. Numbers don’t matter.
You’re right that spreads alone don’t tell you much.
Real cost formula is simple: spread in pips plus commission per lot minus rebate per lot. That’s what you’re actually paying per trade.
IC Markets typically offers 0.9 pip average on EUR/USD with no commission and rebates through GlobeGain. Compare that directly to another broker’s actual cost.
Example: FXPro with 1.2 spread and 3 dollar commission might cost less if their rebate is higher, depending on lot size. Track 10-20 of your actual trades on each platform and calculate total cost. That real data beats any marketing comparison.
Execution quality matters too. A broker that slips you half a pip on entry costs more than any spread difference.
Just pick one and see if it works. Most brokers have similar costs anyway.
I tracked this across IC Markets, FXPro, and Pepperstone over three months.
IC Markets net cost came in around 1.4 pips per lot after rebates. FXPro was similar. Pepperstone was slightly cheaper on spreads but their rebates were lower.
The real difference was execution. IC Markets filled my scalp orders cleaner than others. Over 500 trades that probably saved me more than the spread differences could ever lose.
Build your comparison around your actual strategy. A scalper cares about different things than a swing trader. Track your costs honestly and the winner becomes obvious.