Commissions and Bonuses
Posted by Olga Palikarpava on 21 October 2013 01:03 PM
Commissions in ECN accounts
ECN accounts have commissions to open/close a trade.
The commission rate depends on the account equity and the monthly trading volume. The commission rate can therefore decrease or increase from month to month depending on the traded volume in USD terms for previous period and also the account balance at the recalculation time.
After you place an order from the MetaTrader, you will see round-turn commission (open+close) charged.
For example, let us assume that Equity is in the interval 1,000-5,000 and Trade Volume is less than 5,000,000 (50 lots).
Round-turn commission for a 1 lot trade (100,000 base currency) is
100,000 × 0.0025 × 2 = 5 units of the base currency.
For the pairs where USD is the base currency, the commission is equal to 5 USD. For pairs with base currency other than USD, the commission is 5 units of the base currency. For example, for EUR based pairs – 5 EUR, for GBP based pairs – 5 GBP.
As FXOpen ECN accounts are operated in different currencies, the commission will be converted into the base account currency according to the current exchange rate automatically.
* Traded Volume is volume of executed trades over the last 30 days in USD equivalent. All values in table are shown in USD as an example.
** All values are half-turn commissions! Right after you open a trade, the round-turn commission will be charged.
*** Calculated in units of base currency.