It says commission is payable at the end of the month? So why have i just paid out on the 19th ?
It says commission is payable at the end of the month? So why have i just paid out on the 19th ?
20 May 2020, 14:44
Hi All
Im new to this copying and have a question that IC markets cant answer
It says commission is payable at the end of the month? so why have i just paid out after copying only 5 days and its only the 19th ? This happened when the provider stopped the copying and then restarted it an hr later ? is this a ploy to get money while the coppiers are in profit ?
Many thanks
Replies
sylowuk
20 May 2020, 14:52
RE:
PanagiotisCharalampous said:
Ηι sylowuk,
If a strategy is stopped then all fees are realized and withdrawn from the followers accounts. However if the strategy is restarted then you will have to follow it again, starting the process from the beginning.
Best Regards,
Panagiotis
Hi
So why have " paid at the end of the month " so if your cunning enough you can stop and start and get paid lots of times if you go into profit because if you went into neg then no commision is paid ?
@sylowuk
PanagiotisCharalampous
20 May 2020, 15:09
Ηι sylowuk,
The exact terms of how commissions are charged are described in our EULA. Quoting from there
Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stop copying the strategy.
When the strategy provider stops providing the strategy then consequently you stop copying the strategy and fees need to be paid. Nobody forces you to follow the strategy again. If you think the strategy provider is cheating then do not follow him again.
Best Regards,
Panagiotis
@PanagiotisCharalampous
sylowuk
20 May 2020, 15:19
RE:
PanagiotisCharalampous said:
Ηι sylowuk,
The exact terms of how commissions are charged are described in our EULA. Quoting from there
Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stop copying the strategy.
When the strategy provider stops providing the strategy then consequently you stop copying the strategy and fees need to be paid. Nobody forces you to follow the strategy again. If you think the strategy provider is cheating then do not follow him again.
Best Regards,
Panagiotis
What a joke!
So in other words your saying that its true “ No one is forcing you to follow them “ even though they can scam you out of commission, its my fault as im using this platform? Not no this is wrong or that shouldn't be allowed. Lol
@sylowuk
PanagiotisCharalampous
20 May 2020, 15:31
Ηι sylowuk,
It is common sense that when a service is stopped that the fees will be realized. There is no reason to withhold any fees. However I understand your concerns and I will discuss them with the product team.
Best Regards,
Panagiotis
@PanagiotisCharalampous
PanagiotisCharalampous
20 May 2020, 16:06
Ηι sylowuk,
After discussing this with the team, the high watermark is preserved after you stop and start following again the strategy therefore the strategy provider cannot abuse the system.
Best Regards,
Panagiotis
@PanagiotisCharalampous
trixum
05 Jun 2020, 10:52
RE: RE:
sylowuk said:
PanagiotisCharalampous said:
Ηι sylowuk,
The exact terms of how commissions are charged are described in our EULA. Quoting from there
Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stop copying the strategy.
When the strategy provider stops providing the strategy then consequently you stop copying the strategy and fees need to be paid. Nobody forces you to follow the strategy again. If you think the strategy provider is cheating then do not follow him again.
Best Regards,
Panagiotis
What a joke!
So in other words your saying that its true “ No one is forcing you to follow them “ even though they can scam you out of commission, its my fault as im using this platform? Not no this is wrong or that shouldn't be allowed. Lol
I totally agree with you this is a clear abuse (to say the least) of the T&C (EULA). Please check my post also. This cannot go without a fight.... I've escalated to broker just now
@trixum
PanagiotisCharalampous
20 May 2020, 14:47
Ηι sylowuk,
If a strategy is stopped then all fees are realized and withdrawn from the followers accounts. However if the strategy is restarted then you will have to follow it again, starting the process from the beginning.
Best Regards,
Panagiotis
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