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Demo Account Commission?

GinnyGinny Posts: 4 ✭
in Beginners Questions
Hi........I started using my Demo account today without mush luck but broke even. I seem to of made loads of deals which only resulted in me earning commission for the account. Not sure what I'm doing wrong.....any tips would be very helpful.
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  • OkaneOkane Posts: 1,282 admin
    Ginny said:

    Hi........I started using my Demo account today without mush luck but broke even. I seem to of made loads of deals which only resulted in me earning commission for the account. Not sure what I'm doing wrong.....any tips would be very helpful.

    Hey.
    "Commission for the account"? What's that? Demo is virtual money, there are no commission.
    What you are doing wrong is that you are a beginner who can't read the charts properly. Start
    learning technical analysis!
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  • GinnyGinny Posts: 4 ✭
    Okane said:

    Ginny said:

    Hi........I started using my Demo account today without mush luck but broke even. I seem to of made loads of deals which only resulted in me earning commission for the account. Not sure what I'm doing wrong.....any tips would be very helpful.

    Hey.
    "Commission for the account"? What's that? Demo is virtual money, there are no commission.
    What you are doing wrong is that you are a beginner who can't read the charts properly. Start
    learning technical analysis!
    Well thats helpful....I am a novice, I am learning the Charts. On my orders I am not loosing but on some of my orders in the trade history it shows -0.15 Commission. Help would be appreciated
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  • OkaneOkane Posts: 1,282 admin
    Ginny said:

    Okane said:

    Ginny said:

    Hi........I started using my Demo account today without mush luck but broke even. I seem to of made loads of deals which only resulted in me earning commission for the account. Not sure what I'm doing wrong.....any tips would be very helpful.

    Hey.
    "Commission for the account"? What's that? Demo is virtual money, there are no commission.
    What you are doing wrong is that you are a beginner who can't read the charts properly. Start
    learning technical analysis!
    Well thats helpful....I am a novice, I am learning the Charts. On my orders I am not loosing but on some of my orders in the trade history it shows -0.15 Commission. Help would be appreciated
    Ok, that's the remainder of the payout, it's just that the broker uses the word commission. I have never seen a broker call that commission but I suppose it could be called a commission. But you aren't actually paying anything, you make a trade say 100 bucks investment and the payout is 85% and that's the end of the story. Or you could view it as actually a payout of 100% but minus the 15% commission which would be the same thing as getting 85% return. So as I said, just a very unusual and strange way of the broker to mention "commission".
    Which broker is that?
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  • GinnyGinny Posts: 4 ✭
    Thanks , Its a FXCM £100 Demo account . Guess the majority of my 'Wins' have to small a profit...
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  • OkaneOkane Posts: 1,282 admin
    Ginny said:

    Thanks , Its a FXCM £100 Demo account . Guess the majority of my 'Wins' have to small a profit...

    Is that a Forex broker? I was talking about binary options.
    If you are talking about forex then yeah, they will charge you commissions on trades!
    You need to sit down and read the terms and conditions and about fees and commissions.
    Anyway this is a binary options forum.
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