No cTrader Copy Fees
Spotware, the provider of the family of cTrader platforms has announced some changes to the fee structure of cTrader Copy. Now, there are no cTrader Copy fees. Historically, Spotware has charged strategy providers a 30% tax on the fees they collect from other traders who follow their strategies in cMirror and cTrader Copy. The company made an announcement that it will eliminate this fee. Strategy Providers will pay no cTrader Copy fees from now on. Nothing was mentioned about cMirror in the press release. This means the 30% fee will remain in place for Strategy Providers using cMirror. It would seem that this initiative aims to motivate Strategy Providers to migrate to the new cTrader Copy platform. This change allows Strategy Providers to either make more from what they charge or instead reduce what they charge since nothing is retained by Spotware.
In cTrader Copy, Strategy Providers can charge Investors 3 types of fees. All of these fees are exempt from the 30% tax charged by Spotware. These are;
- Performance fee (same as in PAMM), which is a percentage of investor’s profit calculated using High Water Mark,
- Management fee, which represents an annual percentage of Investors’ Equity calculated daily and charged at the end of each month
- Volume fee, which is based on the volume that the investors have traded while copying the strategy and charged for opening and closing of each position.
Spotware Official Statement
James Glyde, the Chief Commercial Officer of Spotware commented on this change:
“cTrader Copy is a truly innovative copy trading platform that is easily accessible to anyone who would like to provide a strategy or copy a strategy. It already has many Strategy Providers among which are professional traders, PAMM managers, and IBs. To allow them to earn even more from trading, we decided to remove our interest completely. This will attract even more Strategy Providers to cTrader Copy, thus increasing Investors’ options for copying, and allow them to offer better pricing for their services.”
If you are an investor looking for a successful forex strategy to follow, check out A Guide to cTrader Copy for Investors.