I’m trying to decide between opening an account with FBS or IC Markets. Both seem decent on the surface, but I want to know which one actually costs less to trade on when you account for everything—spreads, execution quality, commissions, and GlobeGain rebates.
I’ve read that IC Markets has tighter spreads but charges a commission. FBS advertises low spreads. But I’m not sure which math works out better for my actual trading style—I do a mix of swing trades and some lighter scalping.
Has anyone traded actively on both? What’s the real cost difference? Which one felt like better value for money, considering both the trading conditions and rebates? And are there any other factors—like platform stability or withdrawal speed—that made you prefer one over the other?
Total cost comparison: IC Markets and FBS look different when you add commission and rebates.
IC Markets: around 0.3 pips spread plus 0.8 to 1.0 pips commission (roughly 1.1 to 1.3 total per round trip minus rebate). FBS: 1.0 to 1.2 pips spread with no commission, minus rebate.
With GlobeGain rebates around 0.4 pips on both, IC Markets nets roughly 0.7 to 0.9 pips total cost. FBS nets 0.6 to 0.8 pips. FBS is slightly cheaper per trade. But IC Markets offers faster execution and fewer slippage incidents, which can offset the slightly higher spread cost over time.
FBS cheaper per trade IC Markets better execution quality.
I actually traded both for about three months to compare. I started with IC Markets and switched to FBS after a couple months.
With IC Markets, spreads were tighter, executions were fast, but commissions added up. With FBS, spreads were a bit wider but no commission, so the total cost felt similar overall.
The difference wasn’t huge in my favor with either one. I stuck with FBS mostly because the platform felt simpler and I got used to it. But if you’re doing heavy scalping, IC Markets might edge out FBS slightly due to execution quality.
I ran a cost analysis comparing my IC Markets trades to similar FBS trades over a three-month period. Here’s what I found:
On swing trades (2 to 24 hour holds), FBS was slightly cheaper due to the lack of commission. On scalp trades (under 5 minutes), IC Markets came out ahead because their execution speed prevented a lot of the slippage I experienced with FBS.
So if you’re mostly swing trading, FBS is the better value. If you’re mostly scalping, IC Markets pays for itself. And if you mix both like I do, honestly they’re nearly equivalent. Add GlobeGain rebates to both and the difference shrinks even more.
FBS cheaper spreads IC Markets better execution. Pick based on your trading style.
FBS for holding IC Markets for scalping.
Beyond cost, consider these differences: IC Markets uses MT4 and MT5 with ECN connection. FBS uses proprietary platforms and MT4. If you have specific Expert Advisors or strategies that rely on low-latency execution, IC Markets has an edge.
Also, IC Markets has a maximum spread cap on some accounts, which protects you during volatility. FBS doesn’t have that feature.
So compare on total cost, but also on platform compatibility and risk management features that matter to your setup.
I think the honest answer is they’re close enough that your personal experience with each platform matters more than the raw cost comparison. Open a demo account with both, trade your normal strategy for a week on each, and see which conditions and platform feel better to you.
Then do one small live test with each to verify the demo spreads and execution actually match reality. That’s better than any comparison I could give you.