Question on reporting commissions
Aug 26, 2015 at 21:09
831 Visualizações
4 Replies
Membro Desde May 31, 2015
7 postagens
Aug 26, 2015 at 21:09
Hi there,
I'm new to MyFxBook. Maybe you can help me out on this one.
I hooked up an account to my MetaTrader4 - works just fine. I am trading with FXCM on commission.
When looking at the performance reports, I noticed that :
- the reported gain is the GROSS gain BEFORE commissions
- so is the %Gain
- whereas the commissions are being reported as 'withdrawal'.
This screws up many of the reports/charts. Instead, I would want to see profits as NET profits.
Am I doing something wrong here? Should I perhaps be changing some setting on my MetaTrader4?
(Since I suspect this has to do with the way MT4 reports the info to MyFxBook).
Any help appreciated, thanks in advance!
John
I'm new to MyFxBook. Maybe you can help me out on this one.
I hooked up an account to my MetaTrader4 - works just fine. I am trading with FXCM on commission.
When looking at the performance reports, I noticed that :
- the reported gain is the GROSS gain BEFORE commissions
- so is the %Gain
- whereas the commissions are being reported as 'withdrawal'.
This screws up many of the reports/charts. Instead, I would want to see profits as NET profits.
Am I doing something wrong here? Should I perhaps be changing some setting on my MetaTrader4?
(Since I suspect this has to do with the way MT4 reports the info to MyFxBook).
Any help appreciated, thanks in advance!
John
forex_trader_29148
Membro Desde Feb 11, 2011
1916 postagens
Aug 26, 2015 at 22:03
email the fxcm trader help ,you will see what they can do,think that migt be different at each broker
Membro Desde May 31, 2015
7 postagens
Aug 27, 2015 at 08:58
rob559 posted:
email the fxcm trader help ,you will see what they can do,think that migt be different at each broker
Thanks for your reply. I contacted FXCM about it. They told me, this is a known issue with MT4 and should be solved within MT4 itself. Would that be something being taken care of, as far as you know?
By now my FxBook stats look like these: due to the deduction of all commissions from my initial 'Deposit' amount, my profit is said to be 32%, whereas in reality it is 'only' 16%. The former % will only increase to BALLISTIC figures once more and more commissions are being deducted.
That by itself makes the MT4 reporting totally useless, nor should I be able to be using MyFxBook to any meaningful extend when it comes to portfolio analysis.
Anyone have suggestions how to get this noticed with the MT4 developers?
Thanks!
forex_trader_25447
Membro Desde Dec 21, 2010
131 postagens
Aug 27, 2015 at 10:25
(editado há Aug 27, 2015 at 10:27)
I have similar problem.
I am using broker, which pay me REBATE directly to my account.
That look like I made Deposit. ( for me this is Profit )
Then I wrote to MyFxbook, and they told me :
If broker said that is Deposit, it is Deposit !!!
I think your problem is same.
If your Commission is line in your History, and is NOT part of the trade result ( the Swap is ),
then your Commission will be accepted as Withdrawal (not as Loss).
btw : Both operation : Deposit and Withdrawal in MQL4 are
OrderType()==6 // Balance operation ... missing in help
I am using broker, which pay me REBATE directly to my account.
That look like I made Deposit. ( for me this is Profit )
Then I wrote to MyFxbook, and they told me :
If broker said that is Deposit, it is Deposit !!!
I think your problem is same.
If your Commission is line in your History, and is NOT part of the trade result ( the Swap is ),
then your Commission will be accepted as Withdrawal (not as Loss).
btw : Both operation : Deposit and Withdrawal in MQL4 are
OrderType()==6 // Balance operation ... missing in help
Membro Desde May 31, 2015
7 postagens
Aug 27, 2015 at 12:51
StoneHeart posted:
Then I wrote to MyFxbook, and they told me :
If broker said that is Deposit, it is Deposit !!!
Looking at my MT4reports, I see that the commissions are attriubuted the 'Type: balance'.
I guess it has to do with that. Would you know if MT4 also has a 'commission' type?
StoneHeart posted:
I think your problem is same.
If your Commission is line in your History, and is NOT part of the trade result ( the Swap is ),
then your Commission will be accepted as Withdrawal (not as Loss).
In my history it is indeed one line per commission charged (round turn = 2 lines). So I guess I am indeed f*ck*d. Since I guess at that point the fingerpointing between MT4 and the brokers starts : 'you did it wrong! No - you did it wrong!' - leaving customers with the stupid end result :-( It's a dismal service to customers: 'we brokers of this great Fx world got a great trading platform for you', and many are using it, but neither brokers nor MT4 can step up to the plate to take their responsibility in such a matter. I would not be able to run my business with such an attitude - my clients would simply run. But in this case - there is nowhere to run.
BTW: FXCM pointed me also to this new site of theirs: https://taweb.fxcorporate.com/
It's a new site by FXCM - the (rightly calculated) basic statistics can be found in there. The only thing being: it is only updated on a daily basis, and less info/features as MyFxBook for sure. Yet, it may serve to a certain extend.
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