Prime and ECN accounts are charged a commission for trading. The commission is calculated for a full transaction (opening and closing of the position).
Let’s look at the commission example on a MetaTrader 4-based ECN account.
1 lot equals 100,000 units of the base currency.
For example:
If the base currency is USD (e.g., in USDJPY): 1 lot = 100,000 USD, then the commission for 10 lots (1,000,000 USD) is 20 USD. Consequently, the commission for 1 lot is 2 USD x 2 = 4 USD.
If the base currency is EUR (e.g., in EURUSD): 1 lot = 100,000 EUR, equivalent to 108,585 USD (per the given exchange rate). The commission is calculated as 20 x 108,585/1,000,000 = 2.1717 USD x 2 = 4.3434 USD.
MetaTrader5-based ECN and Prime accounts are charged commission, once for opening and once for closing a position. MetaTrader 4-based ECN and Prime accounts are charged commission upfront for both opening and closing a position.
The commission rates can be found here.
Check the “Commission” column and note that “mio” stands for 1,000,000 USD. The commission is calculated per 1 million USD of trading volume. For example, “20 / mio” means that the commission is 20 USD for 1,000,000 USD traded.
You can use our Trading Calculator to calculate the commission.