Trading mechanics
Round turn
One complete trade - the entry and the exit together. Commission quoted per side has to be doubled to get the round-turn cost, which is the only figure worth comparing between firms.
GFN’s figure
GFN's round-turn cost is $7 per lot - $3.50 per side, $7 per lot round turn. Every trade must also stay open for at least 2 minutes, on every programme.
In detail
Round turn,explained
Quoting per side makes a cost look half the size it is, which is why the round-turn figure is the one to hold onto. A $3.50 per side charge is a $7 trade.
Multiply the round turn by expected trade frequency before choosing a strategy for an evaluation. A scalping approach can pay more in commission over a month than the evaluation fee cost.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Commission
An explicit per-lot charge for executing a trade, usually quoted per side. Two sides make a round turn, so the quoted figure has to be doubled to get the cost of a completed trade.
Raw spread
A pricing model where the spread is passed through without a markup and the cost is charged as an explicit commission instead. It separates the price you trade from the fee you pay.
Spread
The gap between the bid and the ask price. It is the cost paid on entry: a position opens slightly underwater by the width of the spread before the market has moved at all.
Scalping
Taking many short-duration trades for small individual gains. It depends on tight costs and reliable execution, because the spread and commission are a large share of every result.
Tick scalping
Taking positions for a handful of ticks at a time, often held for seconds. Where the profit comes from a pricing lag rather than a market view, firms treat it as exploiting the environment.
Also governed by /rules/commission
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