I trade fairly actively - probably 60-80 round trips per month across EUR/USD, GBP/USD, and some crosses. I’m profitable overall but I’ve been thinking about whether my broker is costing me more than it needs to.
I know cashback exists through GlobeGain but I’ve never actually done the math to see if switching brokers and factoring in rebates would meaningfully impact my net returns.
For someone trading at this volume, does the rebate difference between AXI and Pepperstone actually move the needle on your bottom line? Or is it more of a marginal benefit that doesn’t really change the decision?
I’m also curious if there are specific market conditions where one broker’s costs become noticeably better than the other - like during news volatility or certain times of day.
What does your actual P&L look like when you factor in these costs?
At 60-80 trades monthly, rebates absolutely impact your bottom line. Here’s the math:
Assuming 70 average trades per month on pairs with 1.0 pip average spread before rebate. AXI with GlobeGain gives 0.35 pip rebate, Pepperstone gives 0.25 pip. Your net cost becomes 0.65 pips AXI versus 0.75 pips Pepperstone.
70 trades times 0.10 pip difference equals 7 pips monthly savings on AXI. Over a year that’s 84 pips of pure cost reduction. If your average win is 15 pips, that’s roughly 5-6 additional winning trades just from rebate efficiency.
But here’s what matters more: volatility affects spreads way more than anything else. During news, spreads widen 3-5 times. Test both brokers during your trading hours and actual market conditions you trade. Cost savings are only valuable if execution quality doesn’t suffer.
Been trading actively for years now and tracked this closely. At 70+ trades monthly the rebate difference is real money.
My experience: AXI spreads stay tighter during normal hours, which matters for my scalping strategy. During news events both brokers widen spreads significantly - almost to the same levels, so rebates matter less when volatility spikes.
For my style the math worked out that switching to AXI with GlobeGain cashback saved me about 80-100 pips per month in total costs. That’s real income improvement when you’re profitable.
The catch is your strategy has to match the broker. If you take overnight positions, tight spreads help less. If you scalp or day trade, every 0.1 pip matters.
I track my costs pretty carefully and at your volume it definitely adds up.
I switched from one broker to another partly because of the rebate difference. But I also noticed that the tighter spreads on AXI meant better fills during my peak trading times. That’s worth more than the rebate alone.
If you’re profitable now, the rebate improvement might add 5-8% to your returns depending on your style. Not life changing but definitely worth paying attention to. Just make sure you’re not switching for a small improvement and losing execution quality.
At 70 trades monthly rebates save you real money. Test execution first.
Honestly after 70 trades a month you should be tracking this. I found the rebate difference between brokers was about 80-90 pips yearly for my style. Not huge but it’s free money if execution is equal.