Currenex commissions?

I just opened with PFG and I am being charged $50 per US Million, so far I made 3 trades, 1M EUR/USD, 1M EUR/CAD and 250K EUR/USD for a total of 2,250,000 round turn. I was under the impression that the commission was $50 per Million ROUND TURN but this is not true. My total was 4,500,000 total trades and a total US of 6,330,337 for a total of $316.50 in commission! That equates to 1.4 pips in commission +1 pip spread for a total of 2.4 pips for trading the EUR/USD! I should have stuck with Oanda and 0.9 pip spread and no commission.
Can anyone else using currenex confirm that these prices are normal?

Commissions on your Currenex hub are typically negotiated between you and your prime broker/white label when you setup the account. They vary based upon monthly trade volume. $50/MM is very much on the high side, but may be typical given your volume/account size.

You can get $20/MM at IB, Tradestation, and Dukascopy with no negotiations or minimums, and very similar spreads to Currenex (IB's spreads are better than certain Currenex hubs, I know this firsthand because I use both).

Talked to Aarontrade quite some time ago, they were offering $30 per M. without negotiation. I dont trade with them, so cant comment on anything else. $50 is too much, why feed the brokers when you can keep it yourself..

If you can afford the minimum on currenex, then just go to cnx's website, and it lists the brokers that offer their platform. Contact all of them, and then NEGOTIATE.

Also, ODL Prime is worth a try.

ALL cnx brokers list their commissions as one way. So u pay to get in and pay to get out. The only good thing about this is that if they stipulate a min turnover of say, 100M per mth, it is really only 50M of real trades.

Regards,
K.

P.S. I trade on Oanda, and have yet to see 0.9 spread consistently on eur/usd.

ODL Prime's monthly minimum is $200MM (or $100MM round turn).

AaronTrade/ADM's spreads on their CNX hub are a mixed bag, especially on certain pairs.

Jim, what would you say your monthly turnover (in millions) is?

This makes a big difference depending on where you trade. I know you can cut your rate maybe in half with better spreads than PFG's hub; not at PFG though.