Commision in pips
Commision in pips
04 Sep 2018, 16:37
Hi,
My broker icmarkets have very low spreads but insteade they have a 70$ per million ( 7$ per lot)
Is there a way to know how many pips the commision takes so that I can factor it in my cbot.
Thank you in advance,
Kevin
Replies
ctid386599
04 Sep 2018, 17:10
Two strange things
1) my platform icmarkets charges 70$ per million but from Position.Commissions its 81.66 $
2) Thats commision in us dollars. I wanted to know it in pips. like say after x pips, its break even
Thank you
@ctid386599
PanagiotisCharalampous
05 Sep 2018, 11:31
Hi Kevin,
1) Note that the commission is calculated on millions traded based on the currency on which the commission is charged i.e. if the commission is in AUD but you trade EUR, the volume traded will need to be converted from EUR to AUD in order to estimate the traded volume and then the commission will be calculated on that.
2) Also note that the commission is reported in Position.Commissions in deposit currency. Therefore if your balance is not in the base currency of the symbol traded then the commission is different and you need to make the relevant conversions.
Please tell be the deposit currency and the symbol you trade and I will explain to you how commission is calculated.
Best Regards,
Panagiotis
@PanagiotisCharalampous
PanagiotisCharalampous
04 Sep 2018, 16:42
Hi Kevin,
You can use the Position.Commissions property.
Best Regards,
Panagiotis
@PanagiotisCharalampous