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Hello everybody!
I have been noticing a strange problem with the IC Markets Ctrader platform for some time now.
When using the platform, the commission amounts charged and those shown on the platform are completely different. I checked their website and it says that the commission charged on Ctrader is USD 3.00 for every USD100,000.00 traded. Turns out this is a big lie.
When I open a trade on XAUGBP (and other Gold pairs), I usually open a lot of 0.10! At Ctrader a commission of -0.58 USD appears, while in reality the difference between the gross and net price is -1.16 USD.
It's a BIG difference!
When I opened the transaction, Ctrader itself said that the cost is USD 19,323.00 on average and according to the rules mentioned on the brokerage website, there should be a charge of around USD0.60, rounding up!
How can I be being charged USD1.16? This value is practically double what is advertised on the website!
I have been noticing a strange problem with the IC Markets Ctrader platform for some time now.
When using the platform, the commission amounts charged and those shown on the platform are completely different. I checked their website and it says that the commission charged on Ctrader is USD 3.00 for every USD100,000.00 traded. Turns out this is a big lie.
When I open a trade on XAUGBP (and other Gold pairs), I usually open a lot of 0.10! At Ctrader a commission of -0.58 USD appears, while in reality the difference between the gross and net price is -1.16 USD.
It's a BIG difference!
When I opened the transaction, Ctrader itself said that the cost is USD 19,323.00 on average and according to the rules mentioned on the brokerage website, there should be a charge of around USD0.60, rounding up!
How can I be being charged USD1.16? This value is practically double what is advertised on the website!