Spread: the cost that is not on the receipt
Every instrument has two prices: the buy price (ask) and the sell price (bid). The difference is the spread, and it is the cost you pay the moment a position opens. A new position feels slightly down from the first second because you have to clear the spread before you profit.
The spread is not a fixed number. It widens during big news, in thin markets, and just after the market opens. Cost per lot is the spread width times the pip value.
Commission, swap, and other costs
Commission. ECN-type accounts usually offer very tight raw spreads and then charge a commission per lot. Standard accounts are often commission-free, with a wider spread. What you should compare is the sum of both, not one of them.
Swap. Overnight interest charged or received when a position is held past the daily rollover. It can be positive or negative, depending on trade direction and the interest gap between the two currencies. Many brokers apply triple swap on one day of the week, usually Wednesday, to cover the weekend. Some brokers offer swap-free accounts.
Other costs. Deposit and withdrawal fees, rupiah-to-dollar conversion costs, inactivity fees, and slippage, the gap between the price you asked for and the price you got when the market moves fast.
Costs in crypto: maker, taker, and funding
On a crypto exchange, the main cost is a fee per trade, calculated on trade value. A maker order adds to the order book, while a taker order uses liquidity already there. Takers usually pay a larger fee.
According to the Bitget page on TradeHub, spot fees at VIP 0 are 0.1% for both maker and taker, and futures fees are 0.02% maker and 0.06% taker. Futures contracts can also carry a funding cost, paid between long and short holders while a position is open.
Costs at a prop firm
The main cost at a prop firm is the evaluation fee. Also ask about the retake fee if you fail, any platform or data fees, and the payout terms. The profit split works as a cost too, because part of your results belongs to the firm.
The amounts differ by firm. Put every cost in one list before you pay, then compare it with the account size offered.
Introducing Brokers, rebates, and A-book or B-book
An Introducing Broker (IB) like TradeHub receives commission from the broker on the client volume it brings. Part of that commission is paid back to you as a rebate, and the rest is the IB's income. A rebate is paid win or lose, and does not guarantee profit. The full explanation is on the What is a rebate page.
An A-book broker passes your orders to the market and earns from spread or commission, so it does not gain when you lose. A B-book broker takes the other side of your trades, so its interests can run against yours. Check a broker's execution model before opening an account.
Working out the net cost
The real cost of a trade is the gross cost minus the rebate. Work it per lot so brokers and exchanges can be compared directly.
| Component | Example per 1 lot |
|---|---|
| Spread of 1.1 pips × 10 USD per pip | 11 USD |
| Commission (example, if any) | 0 USD |
| Gross cost | 11 USD |
| Rebate (example: 7 USD per lot) | − 7 USD |
| Net cost | 4 USD |
The figures in the table are only an illustration. Actual rates are on each broker's page. A rebate lowers costs but does not remove them, so a needless trade still costs you.
A checklist before choosing a broker or exchange
- What are the real spread and commission on the account you will use, not the "from" spread?
- How are swap and inactivity fees written in the terms?
- What are the deposit and withdrawal fees for the method you will use?
- Is there a rebate through an IB, and when is it paid? Compare on Forex & CFD and Crypto Exchange.
- Is the execution model A-book or B-book?
Summary
- Spread, commission, swap, and other fees are the costs in forex and CFDs. Compare the sum, not one component.
- In crypto, maker and taker fees are calculated on trade value, and futures can carry a funding cost.
- At a prop firm, count the evaluation fee, retake fee, and profit split as one.
- A rebate is a partial cost refund, paid win or lose, and does not guarantee profit.
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