True cost per lot
What does a lot really cost you, after the rebate?
Spreads are published in one place, commissions in another, and the rebate is never netted off. Put the three together for each account type you are weighing up and the ranking can change. This is the number to choose an account on.
The full comparison, per standard lot round turn
| # | Account | Net per lot | Per month | vs cheapest | Spread cost | Commission | Swap | Gross | Rebate |
|---|
Next Ask the desk what your rebate would be →
Reading the number honestly
- Use the spread you actually get at the times you trade, not the “from 0.0” on the price list.
- Rebates are paid per lot whether the trade wins or loses. That is why they count as a straight reduction in cost — and why they never rescue a losing method.
- Swap is only included if you enter it. If you hold overnight it can be the largest line — the swap calculator works it out per lot for your typical hold.
- How to check that IB pricing is really unmarked: open the broker's standard account page and the IB-linked account side by side at the same minute and compare the spread and commission. They should be identical. If they are not, walk away.
Questions
Why compare after the rebate rather than before?
Because the rebate is money you receive every month on volume you traded anyway. An account with a slightly wider spread and a larger rebate can be cheaper than a raw account with a small one — but you only see that when the three numbers are netted off.
Is a zero-spread account always cheapest?
No. Zero-spread accounts charge the highest commissions, and commission is paid in full on every lot while spread cost depends on the pip value. Run your own pip value and volume through the table; the answer is specific to you.
Where does the rebate come from?
From the broker's own revenue on your trading. The broker pays the introducing broker a share per lot; the IB passes part of it back to you. The spread and commission you pay are the broker's standard public pricing — see how rebates work, and the check above for how to verify it yourself.
