7BForex Trading Commission and how it is charged?
What is Trading Commission?
Trading commission refers to the fee a broker charges a trader every time it places a trade on its platform.
How is Trading Commission Charged on 7BForex?
At 7Bforex, we strive to offer very affordable and competitive trading commissions on Standard and Elite accounts to our clients.
Commissions are charged immediately a trade is opened and the amount may be different based on the Instrument, trading account opened, and the volume traded.
Do take note that charges will not be deducted from your account until your trades are closed.
Trading Commissions on 7Bforex Standard Account
| Asset Type | Number of pairs | Commission per 0.01 lot |
|---|---|---|
| Majors | 7 | ₦60 |
| Crosses | 21 | ₦100 |
| Exotics | 36 | ₦500 |
| Gold | 2 | ₦92.5 |
| Silver | 1 | ₦102.5 |
| Energy | 3 | ₦12.50 |
Trading Commissions on 7Bforex Elite Account
| Asset Type | Number of instruments | Commission per 0.01 lot |
|---|---|---|
| Majors | 7 | ₦120 |
| Crosses | 21 | ₦200 |
| Exotics | 36 | ₦1,000 |
| Gold | 2 | ₦185 |
| Silver | 1 | ₦205 |
| Energy | 3 | ₦25 |
| Stocks | 64 | ₦12,000 |
| Indices | 12 | ₦120 |
| Cryptocurrencies | 35 | ₦12,000 |
PLEASE NOTE: The commission displayed here are allocated by 0.01 standard lot, which means that if you trade with a higher volume per trade, the commission will be calculated in multiples of 0.01. For instance, if you place a EUR/USD trade on your Standard Account with 0.04 lot size, the commission will be ₦60 x 4 = ₦240
The commissions charged vary on the asset type. As an instance, the commission charged from trading 1 standard lot on a forex major pair will be quite different from that which you'll be charged on an Exotic pair."
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