How to calculate commission?

[Apollo355]

I understand that IBs get 1 pip per closed trade. I'm looking at my daily report for today, and don't quite understand the number within the 'Trade P/L' column. Can someone explain how my commission is calculated in collateral with this figure? Thanks

[FidiSWK]

I understand that IBs get 1 pip per closed trade. I'm looking at my daily report for today, and don't quite understand the number within the 'Trade P/L' column. Can someone explain how my commission is calculated in collateral with this figure? Thanks

login to your Cabinet >> History >> Commission

here you can download and see the details of the commssions.

[Apollo355]

I get that but what I don't understand is 1 pip is supposed to be equivalent to $10, which is stated in the partnership agreement. So then why am I only making a little over $3 from the last closed trade from my trader?

[getpaid2trade.com]

1 pip only equals $10 on 1 standard lot on a currency pair who's base currency is the USD, for example the EURUSD.

If you where paid $3 your referral most likely closed a trade for 0.3 lots, which is approx. 1/3rd of a standard lot thus the smaller commission.

[Apollo355]

So it means she traded mini or micro lots?

[FidiSWK]

So it means she traded mini or micro lots?

In this case, maybe she closed a trade like 0.3 std lots in a standard account, or 30 micro lots in a micro account.

If you likely to receive commission lower than 1 usd for her tradings, eg. about 0.50$ = 5 micro lots position closed, then she is using a micro account.

[getpaid2trade.com]

It means she traded 0.3 standard lots.

Keep in mind that in the true interbank market there are no such things as mini or micro lots, a lot is a lot, 100k of the base currency.

Your client may have traded 30 or so 'micro' lots in a micro account or 0.3 lots in a standard account. The main point here is that on the partnership page the example given is that of 1 standard size lot of EURUSD equaling a $10 commission.

[Apollo355]

I get that now. But what puzzles me is that if she only traded micro lots, then how would she be able to generate $500 of profits just from four trades, while I only made about $8 of commission from those transactions? The math doesn't add up for me.

[getpaid2trade.com]

That can easily happen.

$8 is 80 micro lots, so if she opened 4 trades at 20 micro lots each all she would need is an average of 60 pips per trade to make approx. $500 in profits.

[Apollo355]

Thanks for the explanation. What is the minimum commission amount to be paid out and how often are they processed?

[getpaid2trade.com]

Well considering the smallest possible order is 0.10 micro lots, the smallest commission is $0.01 and all agents are paid their commissions daily M-F for the previous days trading.

[Apollo355]

So if I want to withdraw my commission via wire transfer, will there be a fee or minimum?

[getpaid2trade.com]

No minimum but the wire withdrawal fee is $50.00 USD.

[pesagi66]

selamat sejahtera.
Saya baru dengan fxopen..saya buka micro account.ada kawan saya berminat trading forex dengan fxopen dan menjadi referral. adakah commision diberi kepada saya walaupun dia trading dengan micro account, close +/- 4 pip 1 lot.

sekian.tq bagi maklumat

[Apollo355]

I just spoke to my trader and he said that he has closed a trade today, yet I have not seen the commission addition. How long does it take for you to process that? Usually I would receive the report at the end of the day after a trade was closed out.