WORKING EXAMPLE: EFX Group commissions

[alichambers]

Hi,

I'm working out how FOREX commissions will affect my trades using EFX Group, and I've used an example below to calculate profits. Can anyone tell me if this example calculates correctly?

1. A spread of 2 pips
2. Commission of $5 per $100,000 traded

so...

I trade 5 lots (1 lot = $100,000)
GBP:USD: 1 pip = $10 for 1 lot
Gross pips made on this trade = +4

NetPips = 4 - 2 (spread) = +2

Gross Profit = NetPips * $10 * 5 lots = 2 * $10 * 5 lots = $100

Commission value = $5 * 5 lots = $25

NetProfit = $100-$25 = $75

[TheRumpledOne]

There is NO SPREAD at EFX!!

The commission cost, at this time, on the GBPUSD is about 2 pips.

4 - 2 = 2 net pips.

So you made a net 2 pips on 5 lots or $20 * 5 = $100.

[alichambers]

OK, thanks.

Where would I find "pip equivalents" for commission costs for the other major FX pairs at EFX? I have looked on their site but had no joy.

AC

[daniil]

Hi alichambers!
http://www.efxgroup.com/commissions.html

it is not "pip equivalent", it is just a comission
with any ECN broker you must NOT fight against spread, you were cheated by "fixed spread" bucket shops that "fixed spread" does exist.

it was also hard for me to understand this because i was cheated too . but please try to do it by yourself.

use limit orders to enter your trades

BRGDS, Dan

[daniil]

Hi alichambers!
http://www.efxgroup.com/commissions.html

it is not "pip equivalent", it is just a comission
with any ECN broker you must NOT fight against spread, you were cheated by "fixed spread" bucket shops that "fixed spread" does exist.

it was also hard for me to understand this because i was cheated too . but please try to do it by yourself.

use limit orders to enter your trades

BRGDS, Dan

[Patch]

Hi Dan & Alichambers

To say the least, forum police not withstanding, and previous action brought against TS about 5 years ago, TS is a bucket shop.

Patch
In VA