Confused about calculating trading turnover

Beginner Questions
1

i just join forexchif and i got a 100 usd no deposit bonus.i open a standard account.

but there is some condition to met before i can make a withdrawal.
it said
"The Profit can be withdrawn only after trading turnover at the account achieved 10,000,000 USD. Trading turnover in USD of each order is equal to the total turnover under two transactions: transaction for opening an order and transaction for closing an order.

Examples:
BUY 1 lot EURUSD (1 lot = 100,000 EUR) order opened at a price of 1.1257 and closed at 1.1283. Trading turnover in USD for this order = (100,000 * 1.1257) + (100,000 * 1.1283) = 225,400 USD
SELL 5 lot USDJPY (1 lot = 100,000 USD) order opened at a price of 109.806 and closed at 109.352. Trading turnover in USD for this order = (500,000 * 1) + (500,000 * 1) = 1,000,000 USD
BUY 3.5 lot GBPUSD (1 lot = 100,000 GBP) order opened at a price of 1.2978 and closed at 1.2985. Trading turnover in USD for this order = (350,000 * 1.2978) + (350,000 * 1.2985) = 908,705 USD"

then i make 3 trade,here is the history of my trade,

WhatsApp Image 2018-02-23 at 17.06.51.jpeg720Ă—485 47.4 KB

for what i understand,this is how i should calculate trading turnover
(10001.23193)+(10001.23160)= 2463.56
(20001)+(20001)= 4000
(100001.23232)+(100001.23169)= 24640.1
total trading turnover is 4263.56+4000+24640.1 = 31,103 USD

is that true how i calculate my trading turnover?

2

Imho, you should find another broker.
The calculations they show as examples are based on you trading multiple full-lot orders, which you cannot do with $100, so you will be there forever trying to reach the $10m turnover they ask for before you can withdraw funds.

Did you conduct due diligence before opening your account?
Surely seeing them regulated in Vanuata should have rung some alarm bells?

1 Like
3

And…that was your first mistake

hehe… Yes, i wonder why that is… huh ? :stuck_out_tongue:

Ahh you gotta love it
time and time again , Newbies think they are gonna get something from nothing
WHEN WILL YOU LEARN ??

oh well. it’s your process, and YOU’LL SEE

now back to your question.

TURN OVER is what YOU MAKE BEFORE EXPENSES
it’s a simple as that

PROFIT is what you keep after expenses.

4

The rules of welcome bonus of most of the brokers are ridiculous. If you try to fullfil the requirements in order to withdraw, you will end up getting margin call. You can treat it as real money and trade. Don’t calculate. It will make you do over trade which is very bad for your trading career.

5

Simply reaching out 10 million dollars turnover is not for a newbie or beginner, it’s difficult to reach for a professional trader but not impossible, I got the same offer and at the time am replying to you my turnover is 8.5M in 2 days only.
Simply if you know how and when to trade, good entry and exit points, full utilization of funds to use 40-50% of money to open new positions, accumulate few profits from each trade, taking into consideration the higher cost of lot price, slow execution don’t use manual enty and exit but use limit orders and take profit orders.
Increase your margin to 1:100, trade USD eur gbp and keep away from exotic pairs nzd aud jpy, don’t trade at the midnight session and wait Asian session active trading time when it’s lower spread.
Vanuatu companies is not scam as they required to keep $50k for regulator licenses.
Good luck