Hi I have been using a demo acct from bit4x 100:1 for a couple months practicing my trading strategy. I am about really to open a real trading account but I am confused about the fees.
Yesterday I went short on gbp/usd
lot of 0.03 @ 1.61065
It dropped to 1.59860
Which is a gain of 120.5 pips
The profit shows $28.73
I am trying to figure out the calculations to come up with this number. I thought the commissions were in the spread but these number don’t add up for me.
3000*120.5=361500
361500//.0001 = $36.15
I figure this difference to be about 20.5% is this their commission?
If so is that a reasonable commission rate? It seems very high
Any help you can offer would be greatly appreciated
Thanks