Here is the formula you can use to calculate the amount of commission you will pay trading on PRO.ECN accounts (USD is used in the example):
Commission = (Contract Size × USD-to-base-currency Exchange Rate / 1,000,000) × 16 USD × 2
Let’s see how much you will pay in commission on a hypothetical trade for 1 lot of EURUSD:
- Trading Instrument: EURUSD
- Trade Volume: 1 lot
- Contract Size: 100,000 EUR
- EURUSD Rate When Position Opened: 1.33470
Just plug in the numbers:
Commission = (100,000 × 1.33470 / 1,000,000) × 16 USD × 2 = 4.27 USD
- For pro.ecn.mt4 accounts commission is taken only when a position is opened, accounting for both the opening and the closing of the position.
- For ecn.mt5 accounts, commission is taken separately from the trading account balance for the opening and the closing of a position.
- If your account is denominated in EUR, RUR or GLD, your commission will be converted into USD at the current exchange rate in MetaTrader.