I’m trying to make apples to apples fee comparisons between HFM and other brokers while including GlobeGain rebates. My approach has been to pick a few representative instruments and calculate a single metric: total cost per standard lot = spread + commission + average slippage + expected swap - rebate. I convert everything into a cost per million USD traded so account sizes and base currencies don’t skew results.
I also log deposits and withdrawal fees separately since those affect real costs over time. After a month of live testing I could see which broker actually ended up cheaper for my setups. I’m avoiding hype and just focusing on numbers in a spreadsheet.
How do you standardize fee comparisons across different account types and brokers?
Normalize costs to cost per million traded
Include swaps commissions and rebates in one number
Pick a few base instruments that represent your trading. For each instrument record average spread slippage commissions swaps and rebate per lot. Convert to cost per million USD to remove account size bias. Also include non recurring costs like deposit and withdrawal fees over a typical timeframe. Run the numbers on live fills not demos and compare net P&L over a month. That shows which broker is truly cheaper.
Be careful with account types. ECN and standard accounts change the commission structure and sometimes swap rates. Recalculate per lot for each account type you might use. If possible run identical setups across brokers for a short period to capture execution differences as well.
I keep a simple spreadsheet with one column per broker.
List spread commission swap rebate and withdrawal fees. Then I build a per lot and per month cost. It helped me pick a broker without overthinking.
Start with small real trades.
Demo numbers rarely match live slippage. After a few weeks you can see which broker stays cheaper after rebates and fees.
I compare true cost per lot. Adds clarity fast. Helps pick the right account.
Also track edge cases.
Compare costs during news hours and check historical spread spikes. Some brokers look cheap on average but widen severely during events. Rebates rarely cover those spikes so factor that into your final comparison.