I can't seem to find details about the 1% rise in commission taken from player sales.
I'm new and when I joined it was stated that a 2% commission would be taken on player sales.
@NewUser143573 are you saying they are taking 3% now ?? Since when? Not seen this announced anywhere. Bit of a stealth tax if true.
@NewUser143573 28th April was my last sale and that went through as 2%
I think the man is confused with a 3% spread plus 2% your paying 5% Instand sell lol 😆
It’s 2% plus 1p, so if the price was right it could seem like 3% overall
Here's an example.
Thomas Muller- as of 5 mins ago.
Sell = 2.21
Commission 2% = 2.28×0.98= 2.2344 (2.23)
2p difference so even if you deduct an extra penny you should still get 2.22
Commission 3% = 2.28×0.97=21.2116 (2.21)
I also thought the penny was just a minimum commission not added on as well.
Ozzlebert last edited by Ozzlebert
@NewUser143573 you're looking at the instant sell 'spread' not the comission.
The instant sell is the quick way to sell but you get the sell price then FI takes the comission on top of this. As @Chicken_Badge says, closer to 5% (although actually 3% then 2% of the remaining 97% for the maths pedants) in most cases however at times some players spreads will be larger than 3%
If you sell to market then you get the buy price minus the commission but only when another person buys the player. You are effectively selling to that person. Then the 2% commision is taken from that sale.
For example; Buy price £1
Sell price £0.97
Instant sell will get you £0.97 per share X .98 to get you 95p per share.
Sell to market and if the price stays the same whileyou wait for it to sell you will get £1 X .98 so that's 98p.
When you look at the transactions history it shows comission after the sale as a separate transaction. If this isn't clear buy the cheapest futures and sell one. See what happens, will probably cost you about 3p.
@Ozzlebert, Thank you for taking the time to explain this for me, it all makes perfect sense now.