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How much do I need to pay to follow a strategy?
This depends on what the Signal Provider wishes to charge for their Strategy. Some may not charge anything for their Strategy to be followed and some may charge anything up to $100 USD per million, it is their choice to asses what they think their Strategy is worth and what they think investors will pay for it.
How are commissions paid to my Signal Provider?
The commissions which you owe to your Signal Provider are added onto each position, just like they would be if your Broker charges trading commissions. cMirror commissions are accounted for separately inside the ticket of the position. The commissions due to your Signal Provider will be collected by your broker.
Are there any additional fees for Mirror Traders to use cMirror?
No, there are no fees incurred when copying a strategy, only those of your Broker and Signal Provider.
Are commissions calculated per side or round trip?
Signal Provider’s commissions are calculated per side, so if they charge 10 USD per million and you mirror a trade for 1 million USDJPY you will pay to your Signal Provider 10 USD on opening the position and 10 USD on closing the position.
How much can I charge for my strategy?
Signal Providers fees are currently capped at $100 USD per 1 million of USD volume. You can charge anything between $0 to $100 USD in increments of $1.
How are my commissions paid to me?
Commissions are paid to Signal Providers in the form of a deposit by your broker, the deposit will be clearly identified as cMirror commissions. Your broker will reimburse you at midnight (UTC) each day for all realized commissions from all of your follower from all Brokers.
Are there any fees for Signal Providers?
Spotware retain 30% of the fees charged by all Signal Providers, unless the Signal Providers do not charge for their strategy then nothing can be taken.
Can I charge commissions in lots instead of units?
It is not possible to configure the type of volume in which you charge for your strategy, everything is converted into units of USD volume.
What if my accounts home currency is a currency other than USD, how are the commissions that I pay calculated?
The commissions that you are owed will be converted from USD into your accounts home currency using the actual rate at time of processing (Midnight UTC)