How to Compare Broker Trading Costs Without Mixing the Units

CloudSpeed compares costs by placing accounts into the same model:

**Net Trading Cost = Spread + Commission + Swap + Slippage - Rebate**

The value of this model is not the formula itself. The value is that a trader can see what remains after rebate, instead of being pulled toward one attractive field.

In the current CloudSpeed data, EC Markets Standard and TMGM STD both show $6 visible net cost per lot on XAUUSD. On EURUSD, TMGM STD shows $0, EC Markets Standard $2 and Windsor Prime $4. GBPUSD and USDJPY can produce another order again.

That means cost comparison is not a one-time exercise. Every symbol the trader actually trades deserves its own cost row.

The common mistake is comparing “low spread”, “high rebate” and “low commission” as if they were interchangeable.

They are not. Spread is a pricing gap before entry. Commission is a fixed charge around execution. Rebate is a cost return after eligibility is confirmed. They only become useful when placed inside the same trade.

First, lock the symbol and account type. Compare XAUUSD Standard with XAUUSD Standard, not EURUSD or a Raw account.

Second, convert spread and commission into a per-lot cost. Do not leave points, dollars and percentages mixed together.

Third, add rebate only when eligibility is confirmed. Link, account type, symbol, volume and holding time can change the result.

Fourth, keep missing fields visible. If swap, slippage or withdrawal testing is missing, the comparison is not complete.

The ranking can fail when the trading session changes, the account type changes, rebate eligibility fails, the broker updates pricing, or a field is missing.

CloudSpeed should show missing fields clearly instead of inventing a winner for a cleaner page.

- Same symbol: compare the product you actually trade.

- Same account: make sure the account type is identical.

- Spread cost: convert it into per-lot cost instead of only reading points.

- Commission: include the full round-turn charge when relevant.

- Rebate eligibility: count only rebate that is actually available to the account.

- Swap: include it for overnight strategies.

- Slippage: treat execution difference as cost for news or fast strategies.

- Missing fields: label missing data instead of assuming the answer.

Cost comparison is not about finding the largest or smallest single field. It is about putting every cost line into the same trade.

If the unit is not unified, a clean ranking can still be a bad ranking.