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IC Markets increases commissions

  • Post #1
  • Quote
  • First Post: Jun 24, 2024 7:10am Jun 24, 2024 7:10am
IC Markets increased its commissions last week.

previously 5.50 per lot (on the euro account)

now per lot 6.50

this corresponds to an increase of almost 20% (+18.2%)
trading is like dancing, don't think and just listen to the music!
It’s not a broker that anyone who does any due diligence would ever use, anyway.
yeh saw that ... from $7 round trip to $9 round trip for FX (AUD account) ...good bye IC
They increase rebate to. Start using forex rebate provider and you will get 50% discount on all your trades.
Quoting LukaPetek
They increase rebate to. Start using forex rebate provider and you will get 50% discount on all your trades.
what is a forex rebate provider?

i always ask for a rebate at the end of the month and if i have traded enough lots then i get a rebate direct from my broker.
trading is like dancing, don't think and just listen to the music!
Quoting birdland
{quote} what is a forex rebate provider? i always ask for a rebate at the end of the month and if i have traded enough lots then i get a rebate direct from my broker.
Many brokers have some rebate programs, but usually outside forex rebate provider pays much more money and you don't need to ask anything in the end of month. The best thing is that you can get both rebates at the same time.
  • Post #7
  • Quote
  • Edited 3:48am Jun 25, 2024 3:30am | Edited 3:48am
Quoting LukaPetek
{quote} Many brokers have some rebate programs, but usually outside forex rebate provider pays much more money and you don't need to ask anything in the end of month. The best thing is that you can get both rebates at the same time.
very interesting, i never heard about this.

and are these providers save if i give them my data, etc...?

thank you.
trading is like dancing, don't think and just listen to the music!
Everything is free and without any risk. You don't give them any data, you just connect your account to they page. They don't see how you trade or your balance. They don't give any trading advice they just provide you discount at broker.
They are your IB (introducing broker). That means that they bring you to broker, and in return broker pays them some money that he earn on your trading and they return you 80% of that money.

You just get back some of your money.

Check this post.
FOREX REBATE - great way of earning additional money | Forex Factory
Quoting LuXiaoFeng23
{quote} I'm using PayBackFx at the moment. Do you recommend another?
Check link in my previous post. I think that one is better. You can easily compare. You have calculator of first page, you just need to type broker, type of account and how much you trade and you will see how much rebate you can get.
... or, alternatively, you could just choose to use a decent, honest, properly regulated broker with a good reputation, rather than resorting to one who can only attract new customers by paying affiliates to "introduce" them.
I think that IC markets, pepperstone, vantage, dukascopy ...... are all good and well-known brokers, and they give rebates. It is true that higher quality brokers with smaller spreads or commissions have lower rebates, and more expensive brokers have higher rebates.

No one will get rich from rebates, it's just extra free money and if you're around zero it will help you become profitable, and if you're positive it's icing on the cake.
If you have no idea about trading, no rebate will save you
Quoting birdland
IC Markets increased its commissions last week. previously 5.50 per lot (on the euro account) now per lot 6.50 this corresponds to an increase of almost 20% (+18.2%)
Too expensive, what are you going to use?
Quoting kengriffin
{quote} Too expensive, what are you going to use?
Just use Forex Bench Mark to compare all in costs (make sure to click commission toggle).
https://forexbenchmark.com/brokers/spreads/

It's instantly clear who the lowest cost brokerage is by a long shot.
Quoting Jemook
{quote} Just use Forex Bench Mark to compare all in costs (make sure to click commission toggle). https://forexbenchmark.com/brokers/spreads/ It's instantly clear who the lowest cost brokerage is by a long shot.
Great resource, thanks!
Quoting Jemook
{quote} Just use Forex Bench Mark to compare all in costs (make sure to click commission toggle). https://forexbenchmark.com/brokers/spreads/ It's instantly clear who the lowest cost brokerage is by a long shot.
This comparison won’t show you the best broker—it will only highlight the cheapest one on a demo account, not in live trading. You could have 0 spread and 0 commission but still face constant slippage, which could end up costing more over time than a broker with a X commission.

Choosing a broker isn’t rocket science. You need to consider three key factors:

1. Quality of Service – This includes onboarding, handling requests, live chat support, and resolving complaints.
2. Deposit/Withdrawal Methods – Ensure they are fast, secure, and follow clear, fair rules.
3. Trading Quality – This encompasses trading costs but also factors like whether the platform freezes during news events (yes, that still happens in 2024) and if the broker has a data center close to your location.
Afterprime…way cheaper!
  • Post #17
  • Quote
  • Last Post: Oct 22, 2024 12:34pm Oct 22, 2024 12:34pm
I agree. Afterprime is the best!
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