I’m new to forex and I’m leaning toward HFM as my first broker. But I’m trying to set realistic expectations about how much my trading will actually cost me each month.
Right now I’m planning to trade maybe 5-10 lots per week while I’m learning. That’s going to generate some costs in spreads and commissions. The question is: how much will that realistically be after GlobeGain rebates apply?
I found some information that rebates are calculated on volume, but I honestly don’t have a clear sense of how to project my actual monthly costs. Like, if I trade 50 lots in a month at certain spreads and commissions, what does my rebate tier look like, and what’s my real net cost?
For people who started with HFM relatively recently - how did you budget for trading costs in your first few months, and how much did rebates actually reduce what you were paying?
Budget spread plus commission then subtract rebate estimate.
Start low volume rebates matter more at higher volume.
For your first month with 50 lots at standard spreads, estimate this: 50 lots times 0.8 pip spread equals roughly $40 in spread cost (assuming 1 lot equals 10 pips of value at standard pip size). If you’re at a lower rebate tier starting out, expect maybe 0.2-0.3 pips back per lot.
So your realistic first month cost is closer to $30 after rebates. Once your volume climbs and you hit better rebate tiers, that $40 could drop to $20-25.
Track your actual trades for a month before adjusting expectations. Your real costs will be different based on your entry timing and market spreads at the time you trade.
When I started with HFM I traded roughly 40-50 lots my first month while learning. My spread costs were maybe $50 total before rebates kicked in.
After rebates, I ended up paying closer to $35 for the month. It helped offset my learning mistakes and made the cost feel less painful while I was building confidence.
First month costs depend on spreads at trading time. Rebates help lowering costs.
Started with HFM about eight months ago. My first month I traded around 70 lots because I was nervous about position sizing and opened multiple small trades.
Before rebates my costs were roughly $60. After rebates at the starter tier, I paid about $42. By month three when my volume increased and I unlocked a better rebate tier, the same volume of trading cost me only $32.
Advice: budget for the spread cost first, then subtract maybe 20-30% for rebates. This gives you a realistic number. Once you’re comfortable and volume clicks, the rebate gets better and your costs drop further. Don’t expect immediate huge savings at low volume - the rebate takes time to matter.