I keep comparing brokers based on spreads alone, but I realize that’s not the full picture. Two brokers can advertise the same spread but cost me completely different amounts when I factor in commissions, slippage during volatility, and then cashback from services like GlobeGain.
I’m curious about FP Markets specifically. What are traders actually paying per lot when you account for everything? And how does that stack up against other regulated brokers like Pepperstone, Axi, or Tickmill?
I want to find the broker where my true cost is lowest, not just the one with the flashiest spread advertisement. How do you calculate your real cost per trade, and which brokers do you think offer the best value after rebates?
Total cost per lot is spread plus commission minus rebate. That’s the only number that matters.
For EUR/USD, let’s say FP Markets quotes 0.9 pips spread with 0.3 pip rebate through GlobeGain. Your net cost is 0.6 pips. Pepperstone at 0.8 pips with 0.2 rebate costs 0.6 pips too. Same result, different routes.
But execution quality changes this. If FP Markets slips you 0.5 pips on average entry, your real cost jumps to 1.1 pips. That 0.5 pip execution difference costs more than any spread difference.
Calculate for your actual trading pairs and timeframes. News trading spreads spike differently across brokers. Test each with real money for two weeks, track every trade, then decide.
Rebates help but don’t make a bad broker good. A 0.4 pip rebate on a 2.0 pip spread still leaves you at 1.6 pips net. A 1.2 pip spread with 0.2 rebate leaves you at 1.0 pip.
The regulated brokers you mentioned—Pepperstone, Axi, Tickmill—all publish their spreads. Get live quotes from each for your main pairs. Add their commission if it’s ECN. Subtract the GlobeGain rebate rate for that broker. You now have true cost.
For scalping, execution and slippage matter more than 0.1 pip spread differences. For swing trading, the spread barely matters. Pick the broker based on what you actually trade.
I usually just add up the spread and any commission, then subtract what GlobeGain gives me back. That’s my real cost.
With FP Markets, I’m paying around 0.8 net after everything for my main pairs. Some other brokers are a bit higher, some lower. But the difference in my monthly costs is usually just a few dollars unless I’m trading a ton of volume.
What matters more to me is how fast they execute and whether withdrawals are hassle-free. That affects my trading more than saving 0.1 pips per trade.
Spreads plus rebate equals what you pay. I compare a few brokers this way and pick the lowest. FP Markets is usually middle of the pack for me.
Spread plus commission minus rebate. Test with real trades first.