Falsly charged performance fee

Created at 23 Jul 2020, 15:20
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balazs9703

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Joined 23.07.2020

Falsly charged performance fee
23 Jul 2020, 15:20

I have a problem with one of my copied account.
My account id: 1099898

Copied id: 1123159
I restarted a copy on 22 Jul 2020 20:53:21.120 with this deposit: TID 38985770
I had no position opened since so performance fee should be 0.
But I withdrew multiple times from my copied strategy and I got a performance fee when there was no performance.
Performance charge IDs: 
- TID 38985921
- TID 38986031
- TID 38999353
- TID 39026601
And If I try to stop the copy I will get fined for 212USD which is ridiculous because there was no open position since I deposited.
Last opened position was on 21 Jul 2020 20:27:20.886.
Please fix this issue.
Thank you!

@balazs9703
Replies

PanagiotisCharalampous
23 Jul 2020, 15:23

Hi balazs9703,

Can you please tell us which strategy you are following and your broker?

Best Regards,

Panagiotis 

Join us on Telegram

 

 

@PanagiotisCharalampous

balazs9703
23 Jul 2020, 15:28

RE:

PanagiotisCharalampous said:

Hi balazs9703,

Can you please tell us which strategy you are following and your broker?

Best Regards,

Panagiotis 

Join us on Telegram

 

 

Sure.
I use Icmarket.
Copy account id: 1123159
Copy account name: Stable1

@balazs9703

michaelroger908
30 Jul 2020, 02:51

Hi Balazs9703

I am a fellow user of IC market also. I had the same issue and I wrote to them. They informed me that they could only write in to spotware to find out. Chance upon this forum. May I know if ctrader has addressed your issue?

Yours sincerely

Michael

@michaelroger908

PanagiotisCharalampous
31 Jul 2020, 10:50

Hi all,

We have investigated this issue and the fee was charged as it should. Stable1 changed the performance fee from 0% to 30%. When there is a change in fees then the new fee is charged since the date of the previous high watermark, not from the day you restart copying the strategy. A high watermark is recorded when a monthly fee is charged or a withdrawal is taken from the account. Since the performance fee was 0 for the previous period there was no new high watermark recorded since you started copying hence you have been charged a fee for the entire profit generated by the strategy.

Best Regards,

Panagiotis 

Join us on Telegram

 

@PanagiotisCharalampous
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