cMirror commissions

27 Mar 2015, 09:22cMirror commissions#1
8foldposts: 8since: 27 Oct 2014

First of all, thank you for creating cMirror. It has a great potential. Also, as a side note, there should be a separate cMirror Support section. :)

 

I have tested it and I have a question regarding the crediting of commissions as a Signal Provider (SP). Unfortunately the broker (ICMarkets) does not provide support for cMirror.

 

Question: What percentage of the SP's commission (per million) gets credited to the SP's account?

 

I'm asking this because I've received less than 25%. Please see the following facts of my test:

1. Signal Follower (SF) (cTrader ID: sfychi | acc # 1014994) and SP (cTrader ID: 8fold | acc# 1014996 | cMirror name `Testing Signal`) are both on the same broker (IC Markets - Full Member Broker, according to cMirror)

2. SP's commission is $30/mil

3. SF copied 30 trades and payed $11.61 in cMirror commissions in 2 days:

- 23.03.2015: 11 trades and $4.66 total commissions

- 24.03.2015: 19 trades and $6.95 total commissions

4. SP's account was credited a total of $2.75, in 2 payments:

- TID 10690102 24/03/2015 00:01:00 Deposit $1.38

- TID 10818098 25/03/2015 00:01:00 Deposit $1.37

5. SF stopped following on 24.03.2015, after having copied 19 trades.

6. Nothing was credited to SP's account in the following days (26 and 27), I was expecting the difference.

 

So these are the facts. Kindly shed some light on this.

 

Thank you,

8fold


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04 Apr 2015, 08:35#2
8foldposts: 8since: 27 Oct 2014

Dear cTrader support,

 

I feel this is a very important issue, as it prevents people from using cMirror. Why is this topic being neglected?

It makes us feel you really don't care.

 

 

Thanks,

8fold


Do. Or do not. There is no try.
06 Apr 2015, 12:50#3
Spotwareposts: 3309since: 23 Sep 2013

Our team is investigating this issue.


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09 Apr 2015, 11:51#4
Spotwareposts: 3309since: 23 Sep 2013

We deeply investigated this issue and can confirm that there is an issue in cMirror. We will fix this bug as soon as possible and lost commissions will be credited to signal providers.


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09 Apr 2015, 16:12#5
8foldposts: 8since: 27 Oct 2014

That is good news!

 

Please let us know when this issue is resolved. Perhaps in this thread.

 

 

Thank you!


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28 Apr 2015, 09:34RE:#6
8foldposts: 8since: 27 Oct 2014

Spotware said:

We deeply investigated this issue and can confirm that there is an issue in cMirror. We will fix this bug as soon as possible and lost commissions will be credited to signal providers.

It's been a while now. I still haven't received anything and I would like to start delivering service but I cannot yet under these circumstances.

What are the updates on this?

 

 

Thank you,

8fold


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04 May 2015, 11:04#7
Spotwareposts: 3309since: 23 Sep 2013

Hello!

We're glad to inform you that the commissions issue was fixed and released this weekend. All missed commissions should be transferred to your Signal Provider's account.

Please check.

 

All further commissions will be fully transferred on regular nightly basis.

 

Sorry for inconvenience,

And thanks for your patience!

 

Spotware Team


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05 May 2015, 07:37RE:#8
8foldposts: 8since: 27 Oct 2014

Spotware said:

Hello!

We're glad to inform you that the commissions issue was fixed and released this weekend. All missed commissions should be transferred to your Signal Provider's account.

Please check.

 

All further commissions will be fully transferred on regular nightly basis.

 

Sorry for inconvenience,

And thanks for your patience!

 

Spotware Team

I have checked. The Signal Providers account stated above was credited an additional $5.29. However, I was expecting $8.86. This is not about the absolute values (as these are non-essential ammounts), but this was a test. Shouldn't the Signal Provider receive 100% of what signals followers are charged?


Do. Or do not. There is no try.
18 Jun 2015, 11:24#9
Spotwareposts: 3309since: 23 Sep 2013

Dear Trader,

We apologize for this confusion, it appears you were not aware that Signal Providers receive 70% of the fees which they charge their followers. 

In the upcoming version of cMirror this fact will be clearly displayed. 

The previous bug which you highlighted was fixed and you were correctly remunerated. 


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18 Jun 2015, 18:03RE:#10
Hyperloopposts: 87since: 23 Oct 2013

Spotware said:

Dear Trader,

We apologize for this confusion, it appears you were not aware that Signal Providers receive 70% of the fees which they charge their followers. 

In the upcoming version of cMirror this fact will be clearly displayed. 

The previous bug which you highlighted was fixed and you were correctly remunerated. 

Is there documentation anywhere publicly available for cMirror? It appears there is a lot of information left out regarding the payout structure; even brokers are confused. The cMirror Help Guide has barely any information.