How much do I need to pay to follow a strategy?
It depends on what a Strategy Provider wishes to charge for his strategy. Some may not charge anything providing Free strategies, and some may charge Performance Fee, Management Fee and Volume Fee in any combination depending on what they think their strategy is worth, and what they think the investors would pay for it. Before you start copying a strategy you can check the fees amount you are going to pay on the Start Copying button of a strategy.
Management Fee is a periodic payment that you pay to a Strategy Provider regardless of the strategy performance. The Management fee is set by a Strategy Provider as an annual percentage of your equity, but may not exceed 10%. It is accrued daily and charged at the end of the calculation period (month). It is also charged when you remove funds or stop copying the strategy.
Performance Fee is the percentage of Net profits made generated by a strategy. The Performance Fee may not exceed 50%. It is subject to the High-Water Mark and is paid at the end of each month, so you never pay twice for the same performance. If you copy several strategies, the Performance Fee calculation will be applied to each dedicated Copy Trading Account independently. It is also charged when you remove funds or stop copying the strategy.
Volume Fee is the funds’ amount (up to 100 USD) an Investor pay per one million of volumes copied. It is calculated per side and added to each position. It means that if a Strategy Provider charges, for example, 10 USD per million, and you copy a trade for 1 million of USDJPY, then you will pay to your Strategy Provider 10 USD on opening of the position and 10 USD on closing of the position.
How do I check the fees charged from me when copying a strategy?
When copying a strategy, all the fees the Investor will be charged are displayed in the Copying Strategy profile tables. The Performance Fee and the Management Fee are displayed in the Transactions table. The Volume Fee can be found in the History table, and the unrealized Volume Fee can be found in the Positions table. Note that the Volume Fee and the Unrealized Volume Fee columns are disabled by default. Right-click on any column heading and select the column you would like to add from the drop-down.
For Strategy Provider
How much can I charge for my strategy?
It depends on what you consider your strategy is worth and what you think the other Investors would be willing to pay for it. Technically, you may set 0 for all fees so that your strategy followers won’t be charged and your strategy will be marked as Free. But when you become a Strategy Provider you are allowed to set all three types of fees - the Management Fee (up to 10% of your strategy Investor equity), the Performance Fee (up to 50% of your strategy Investor’s Net profit) and the Volume Fee (anything between 1 to 100 USD per million volume).
How are the fees I charge paid to me?
Fees are paid to the Strategy Providers in the form of a deposit by a broker. The deposit will be clearly identified as strategy copying fees. Your broker will reimburse you at midnight (UTC) each day for all realized fees from all the Investors from all Brokers.
Are there any fees for providing strategies?
Spotware retains 30% of the fees charged by all Strategy Providers unless the Strategy 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 account’s home currency is a currency other than USD, how are the commissions that I pay calculated?
The commissions that you owe will be converted from USD into your account’s home currency using the actual rate at the time of processing (Midnight UTC).