Fusion Markets' commission rate is $4.50 USD per lot, now we convert it to your account currency. Since AUD is our hometown, it will stay $4.50 which is cheaper if we convert it to USD.
OK and when was the commission calculated? Because right now the exchange to USD $4.50 does not match my currency.
EUR is 4.57, will you ever change it often? or is it set in stone?
We calculated this in June 2019. And to avoid constantly changing this each month, we have kept it the same since then unless currency rates move drastically from there. Sorry for any inconvenience.
How do you charge commissions?
We charge commissions per round turn 2.25 per side total of 4.50/Lot/Round turn.
For a Zero account, If the 1 pip is $10, does this mean that the commission is $4.5?
1 lot is equal to $4.50 round turn. Then 0.1 lot would be equal to $0.45 commission (10% of $4.50)
How or why the Zero account will be far cheaper comparing to the classic?
Let’s take 1 pip: $1 as a scenario:
- Under the Zero account, $4.50 is the commission for a successful trade (an open and a close of a trade).
- While under the classic account, "spreads start from 0.6 pips with Zero commissions."
I assumed that after a successful trade, it will be 1.2 pips altogether. Which seems far lesser to "break even" than the above.
"The commission is included in the spread so that what you see is what you get." Does this mean that if I entered the trade, it will be more than 1.2pips altogether?
If so, how many pips will it be?
Answer: Let me give you an example to compare the Zero account and Classic account.
The Zero's average spread for e.g., EURUSD= is 0.12 + $4.50 commission rate, so that's roughly 0.62 pips round turn.
However, the Classic's average spread is 0.92 on EURUSD and that is both sides.
Having this said it is cheaper to choose a Zero account rather than choosing a classic account.