I’ve been trying to calculate what I’d actually pay when trading with IG, and it’s harder than it should be. Everyone talks about spreads, but nobody breaks down the full cost picture.
I know GlobeGain offers rebates, which changes the math. But I want to understand the real numbers: spreads, commissions if any, what the rebates actually cover, and how it all compares to what I’d pay elsewhere.
For people actively trading with IG through GlobeGain, what does your actual cost per trade look like? Are the rebates meaningful enough to justify trading with them over a broker with tighter spreads? And more importantly, are there hidden costs or spreads that widen during specific market conditions that I should know about?
IG’s costs break down this way: variable spreads on most pairs (0.6-1.2 pips average), no commission on standard accounts, plus overnight swap charges. GlobeGain rebates typically cover 0.3-0.5 pips depending on volume. So your net cost per round trip is roughly spread minus rebate. For EUR/USD, that’s often 0.8-1.0 pips after rebates. For less liquid pairs, spreads widen significantly. During volatile events, expect spreads to double or triple temporarily. Calculate your actual volume first – if you’re scalping frequently, rebates add up meaningfully. If you’re holding positions days or weeks, swap charges matter more than rebates.
Spreads 0.8 pips average. Rebates offset about half.
I trade EUR/USD and GBP/USD mostly with IG. After rebates, I’m paying roughly what I’d pay elsewhere. The spreads aren’t the tightest, but they’re stable and predictable.
The rebates do help, but don’t expect them to be the reason you choose a broker. They’re just a bonus on top.
IG spreads are okay not great. Rebates help but don’t make them cheaper than ECN brokers.
I’ve been tracking my costs with IG for almost two years. Here’s the real breakdown.
Major pairs average 0.8-1.0 pips spread. Minors 1.2-1.6 pips. Exotics 2.0+ pips. Commission-free accounts, so that’s clean. Swaps vary wildly depending on pair and market conditions – sometimes in your favor, sometimes against. GlobeGain rebates have consistently added 0.35-0.45 pips back per round trip.
Total cost compared to what I’d pay on FxPro with tight spreads? IG costs me about 0.2-0.4 pips more per trade. But IG’s execution is more consistent, fewer slips. For scalpers, that consistency matters more than raw spread numbers. For position traders holding positions overnight, the swap charges usually cost more than the rebate savings.
Don’t pick IG just for cost. Pick it if the execution and platform fit your style, then use rebates as a bonus.
I switched to IG from a cheaper STP broker specifically because I wanted more stable execution, even if spreads were slightly wider. For me, it was worth it.
But that’s a personal decision. If cost is your only concern, you might find something cheaper elsewhere.
Here’s my actual month-to-month math: I trade about 50-100 lots monthly. My gross spread costs are roughly 40-50 dollars per month before rebates. After GlobeGain rebates, I’m down to 25-30 dollars. Swap charges fluctuate between positive and negative, so they average close to zero across the year. Compare that to an ECN broker with 1.5 pips spreads and 3 dollars per lot commission – suddenly IG looks competitive or even better depending on your volume.