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L2 Dealer minimum charge of $30 ?


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ACCORDING TO BELOW MANUAL CONTENT

 

 

OUR CHARGES

Please note that trading with us via L2 Forex Direct attracts a different range of charges than our other forex products including our OTC fixed spread offering.

The commission rates on your account vary based on the volume of contracts you traded in the preceding month.

CONTRACTS TRADED               COMMISSION (US$ PER CONTRACT)

0-250                                                                      7

251-1000                                                              5

1001-10,000                                                        4

10,000+                                                                 2

 

The below are two examples of how the commission will be calculated:

EXAMPLE 1 Client buys 10 lots of EURUSD (1 contract = EUR100,000) at a rate of 1.3800. The notional amount of EUR being dealt is therefore EUR1,000,000 (10 lots at EUR100,000 per lot). The notional amount of USD dealt is therefore 1,379,900 (EUR1,000,000* 1.3799 (being the mid rate of our EURUSD quote at the time the deal was booked to your account)). Therefore after we apply the $30/million USD charge, the commission charged for the deal will be $41.40 ( (USD1,379,900 / 1,000,000)* 30).

EXAMPLE 2 Client buys 20 lots of GBPJPY (1 contract = GBP100,000) at a rate of 2.3700. The notional amount of USD being dealt is therefore calculated as follows: The notional amount of GBP dealt is 2,000,000 (20 lots at GBP100,000 per lot). The notional amount of USD is therefore 4,040,000 (GBP 2,000,000* 2.0200 (being the mid rate of our GBPUSD quote at the time the deal was booked to your account)). Therefore after we apply the $30/million USD charge the commission charged for the deal will be $121.20 ( (USD4,040,000 / 1,000,000)* 30).

All commission will be booked to the account in USD unless otherwise agreed.

There will be a minimum charge of $30.

No Commission will be charged for dealing our OTC fixed spread offering. The charges for these transactions are contained within our spread (details of which can be found in our contract details)

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