How to Calculate Forex Cashback: Per-Lot, Pip and Commission-Share Rebates

Rebate offers are quoted in different ways — dollars per lot, pips per lot, or a percentage of commission. To compare them you need to turn each one into the same unit: dollars per standard lot. Then multiply by your volume.

Step 1: Know your volume in standard lots

One standard lot is 100,000 units of the base currency. Platforms often show smaller sizes:

Size	Lots
Standard	1.00
Mini	0.10
Micro	0.01

Add up the lot size of every trade you closed in a month. Most rebate programs count round turns (open + close) as one trade; check the broker page if you are unsure.

Step 2: Convert the rebate into dollars per lot

Per-lot rebates

These are already in the right unit. "$4.80 per lot" means $4.80 for every standard lot.

Per-pip rebates

Multiply the pips by the pip value of one standard lot. For pairs quoted in USD (EURUSD, GBPUSD, AUDUSD), one pip on one standard lot is worth about $10.

0.4 pip × $10 = $4.00 per lot

For pairs where USD is not the quote currency, the pip value moves with the exchange rate, so the dollar rebate changes slightly.

Percentage-of-commission rebates

Multiply the commission per lot by the percentage. If a Raw account charges $7 per round-turn lot and the rebate is 30%:

$7 × 30% = $2.10 per lot

Commission-share rebates are common on raw-spread or ECN accounts, where most of the broker's revenue is the commission.

Step 3: Multiply by your volume

Monthly cashback = lots per month × dollars per lot

Lots / month	$2.10 / lot	$4.00 / lot	$6.00 / lot
10	$21	$40	$60
50	$105	$200	$300
150	$315	$600	$900
500	$1,050	$2,000	$3,000

These are illustrations of the arithmetic, not promises: what you earn depends on the broker, account type and instruments you actually trade.

Step 4: Compare the net cost, not just the rebate

A bigger rebate is not automatically a better deal. Compare net cost per lot:

Net cost = spread cost + commission − rebate

A Standard account with a wide spread and a large rebate can still cost more than a Raw account with a tight spread and a smaller rebate. Our broker pages list the spread, commission and rebate for each account type so you can do this check quickly — or open two brokers in compare.

Instruments other than FX

Gold, indices and oil often pay a different rebate from currency pairs, and the lot size is defined differently (for example, 1 lot of XAUUSD is usually 100 ounces). Look for a "rebate by instrument" table on the broker page. See rebates for gold traders for more.

Skip the arithmetic

Our rebate calculator does steps 3 and 4 for a blended rate: set your monthly lots and read the estimate. For an exact figure, use the rate on the specific broker and account type you plan to open.