I’ve been comparing brokers and I keep seeing FP Markets mentioned alongside others like IC Markets and Tickmill. The spreads look different on the surface, but I can never tell what the actual cost is to me as a trader.
I use GlobeGain for rebates, so I’m trying to figure out if the rebates offset the spread differences or if one broker is just cheaper regardless. The issue is that comparing spreads alone feels incomplete.
Does anyone here actually calculate their true trading cost? Like spread plus commission minus rebate? I want to know if FP Markets’ regulation affects their costs, or if it’s just the market standard.
Have you found one broker that’s clearly cheaper than the others once you account for everything?
Calculate it this way: average spread plus commission minus rebate equals your true cost per lot.
FP Markets usually has 0.9 to 1.2 pips on majors with no commission. IC Markets typically 0.8 pips plus commission. Tickmill sits around 1.0 pip.
GlobeGain rebates typically add 0.3 to 0.5 pips back depending on volume. After rebates, the gap narrows. FP Markets and IC Markets usually end up similar. Test with your actual trading size before deciding.
I track this obsessively. Found that FP Markets works better for my style because their execution is more consistent during news. The slightly wider spread is worth the reliability.
IC Markets is cheaper on paper but I get more slippage on volatile days. After calculating 6 months of real trades, FP Markets cost me about the same or less because I lose less to slippage.
The rebate helps but platform quality matters more than most traders think.
I use a simple spreadsheet to track my costs. Spread, commission, rebate from GlobeGain, and then I add a rough slippage estimate based on the last few weeks.
Once I did that I realized the cheapest on paper wasn’t the cheapest in practice. Execution quality changes everything. Worth doing this calculation yourself instead of trusting marketing claims.
Execution quality matters more than spreads. Test with real money first.
One overlooked factor: how quickly each broker processes GlobeGain rebates. FP Markets and IC Markets are reliable. Some smaller brokers delay or misapply them. The rebate is only valuable if you actually receive it on schedule.
Never thought about that until it happened to me. Always verify the broker’s rebate integration with GlobeGain works smoothly. Some brokers are slow to sync or have processing issues. That delays your cash back.
Good reminder. Check with GlobeGain directly about which brokers have smooth rebate processing. Some integrations are better than others.
Yeah, rebate timing matters. Don’t just look at the rate.
Rebate processing speed varies. Check with GlobeGain first.