Where the money comes from
Standard and Micro accounts usually carry wider spreads with no separate commission, and the broker funds the referral rebate out of that spread. ECN / Raw accounts quote near interbank spreads and charge a per-lot commission, so the rebate mostly comes back out of the commission. In short: standard rebates are funded by spread, ECN rebates are funded by commission.
Same trade, different outcome
Take a typical quote: one account pays a $7 per lot rebate with no commission; a Raw account pays $10 but charges $7 commission per lot. On 100 lots the first nets $700, the second nets $300. The account with the bigger rebate number pays you less.
Three rules for choosing
- Compare net cost, not rebate. Compute spread + commission − rebate as a single figure.
- Match your frequency. Scalpers and high-frequency traders are spread-sensitive, so Raw/ECN with a strong rebate fits better; swing and position traders often do fine on standard accounts and keep bonus eligibility.
- Match your instrument. Gold and indices usually rebate far better on Raw accounts — if you mainly trade XAUUSD, start there.
Common traps
"Higher rebate always wins" is wrong, because commission may be higher too. "Standard accounts have no rebate room" is also wrong — their wider spread pool often funds a solid absolute rebate.
What to do
Read the highest forex and metals tiers in the comparison table, multiply by your real monthly volume and pick the lowest net cost. Before switching account type, submit the current account number for binding so no lots fall into a gap between the two.
