The billing period is a timing cycle used to measure performance of a strategy within a specified period of time in order to accurately record performance fee. The billing period covers a calendar month, and ends on the last Friday of the month (23:50 UTC+0 to 23:59:59 UTC +0) with a new billing period opening immediately after.
What happens at the end of a billing period?
For Social Pro and Social Standard accounts:
- Investor orders are closed.
- If an investment(s) experiences an overall profit, and the profit exceeds the profit threshold, then a performance fee is deducted from the Investor’s investment and copy ratio is recalculated. Otherwise, no performance fee is deducted but the copy ratio may still be recalculated.
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All orders closed in step 1 are reopened with zero spread and the recalculated copy ratio.
Reopened orders can be found in the Copying orders area of the Social Trading app with a note providing context for the order’s reopening.
For Pro accounts:
- Orders are not closed.
- If an investment(s) experiences an overall profit, and the profit exceeds the profit threshold, then a performance fee is deducted from the Investor’s investment.