Symptom
The ability to create a trading commissions on the Partners Portal.
Trading Commission is when the partner is always rebated on the lot size when the trader closes their position.
Resolution
This assumes a commission plan is already created.
Also prerequisite is that the Server configuration is already in place from the customer.
There are 3 steps in order to successfully configure a Trading commission.
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Allocate the correct trader groups where the commissions will apply.click here to learn how trader groups are allocated)
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Set the desired offer type.
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Configure the payouts calculation.
To create a trading commission, Navigate to:
IB portal > Commission Plan
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Choose an existing or newly created commission plan from the drop down
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Select one of the two offer types available:
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Tier - Pay out amount can done to 5 tiers but this is not mandatory, only tier 1 is required (Amount T1)
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Multi Level - commission will be distributed only to the direct partner (level 1), other levels are distributed using Multi Level setup agreed between each level. Pays out in percentage.
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Click New and fill out all required fields
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Then press Submit
Tier:
Multi Level:
Once Submitted it should appear as follows:
Important Note:
Required fields are:
Servers: Server under which new trading commission will be calculated.
Group Symbol: group under which the commission will be applied. Available Symbol Group depends on the selected server. examples: Metals, Indices etc.
Calculation Type: The formulas to be applied upon commissions calculation , e.g. USD/Lot
Commission is paid proportionally according to the Lots closed by the trader.
Commission paid adheres to the calculation type set; currently the following are offered:
USD per Lot : Lots traded(Volume) * Plan configured amount * USD Rate
e.g. Trader performed a trade of 1 Lot of USDCHF while the plan was configure to pay 10 USD/Lot .
Commission paid would be 1 * 10 * 1 = 10 USD or equivalent.
Dollar Per Million: Plan configured amount * Notional USD / 1000000 where:
Notional USD for Forex : Volume * Contract_Size * USD Rate
Notional USD for Metals, Indices, Futures : Volume * USD Rate
e.g. Trader performed a trade of 1 Lot of USDCHF while the plan was configure to pay 10 USD/Million:
Commission paid would be: 10 * 1 * 100,000 (or less depending on the forex symbol config) * 1 / 1000000= 1 USD or eqivalent.
Amount T1 - Is the first level and it is required to define amount for this tier. Amount T1 is direct commission from Trader
Amount T2 - Amount T5 are optional. If there is a need to define more tiers than 5 levels, it is necessary to use Multi Level offer type. Tier 1 is a direct commission from sub-partner or trader, chain of sub-partners proceed to Tier 5 which is the last tier in the chain.
Keywords
Partners, Portal, Trading , Commission, Multi, Tiers
Product
All versions of the Partners Portal
Attachment
No Attachment