I’m trying to make a fair comparison between HFM and a few other brokers I’m considering. The problem is everyone comparing brokers seems to ignore rebates or treat them as an afterthought.
I want to know the actual, transparent side-by-side cost. Like: HFM’s spread plus commission on a standard lot, minus the GlobeGain rebate. Then the same calculation for competitor A, competitor B, etc.
The issue is that without rebates factored in, HFM might look more expensive. But with GlobeGain cash back, the picture changes. I just want to see the real numbers so I can make a decision based on actual costs, not marketing.
Has anyone here done a direct cost comparison across a few brokers including rebates? What were the results - did HFM come out ahead, behind, or was it pretty much a wash once you factored everything in?
Calculate real costs per lot then compare fairly.
HFM competitive once rebates factored in usually.
For a proper comparison, calculate this for each broker: (spread + commission per lot) minus rebate. Do this for at least 3-5 different currency pairs so you see averages, not outliers.
When I ran the numbers, HFM with GlobeGain rebates was roughly 10-15% cheaper than the main alternatives for standard trading. But this varies by account type and trading volume.
Don’t just trust advertised spreads. Test real trading for 10-15 trades on each broker’s demo, calculate your actual costs, then decide. The math should be clear once you work through it.
I did this comparison last year between HFM, FP Markets, and one other broker. When I added GlobeGain rebates to HFM, the costs were pretty close to the others.
HFM wasn’t the cheapest, but it wasn’t more expensive either once rebates were included. The difference ended up being less than 5% across my trades, so it came down to other factors like platform quality and support.
Rebates do make HFM competitive but spreads still vary Day by day.
Spent time comparing HFM against four other brokers I was using. Created a spreadsheet tracking the exact spread on roughly 50 trades per broker, added commissions, then subtracted rebates.
HFM with GlobeGain rebates came out about 12% cheaper overall than my second choice. Not a massive difference but enough to matter if you’re trading frequently. The rebate really does make a dent in the cost structure.
The catch is you need to hit a reasonable volume to unlock decent rebate tiers. At lower volumes the advantage shrinks.