Friday, 10 May 2013

Include Rebates in Trading Performance Stats: New Feature Added to

When you connect your MT4 trading account to the ForexRazor stats system you can view in-depth statistics for your account, as well as optionally share with your friends or everyone if you wish to share. 

In the quest for maintaining status as the most accurate system available of it's kind, ForexRazor stats now will auto-search for rebates earned on your account and include those earnings in your account statistics.  Rebates can make a big difference in your trading performance, depending on which broker you use and how large the rebates are, however regardless of the size of the rebate your bottom line is always better if you are earning cash rebates vs. not earning cash rebates at the same broker. 

Of course, this can only be guaranteed if you are using a trustworthy rebate provider like CashBackForex where your other trading conditions are guaranteed not to change, such as increasing spreads.  ForexRazor stats currently only supports rebates earned through or, so if you have an account there and add your trading account to, your rebates earned through or will be automatically discovered and added to your trading statistics, giving your a greater and more truthful return on investment metric as well as affecting other metrics such as Time weighted equity return graphs, Drawdown, Withdrawals, etc. 

For some of the brokers like Instaforex who deposit rebates directly into the account, what was previously seen as a deposit (thereby decreasing performance of the account on a statistics system) will now be seen as a profit, thereby increasing the performance of the account as is the reality of the situation.  Rebate earners now for the first time have the ability to view truthful, accurate calculations of their trading performance. 

Below is a screenshot of the new 'Rebates' tab where you can view all rebates earned.

Click to Enlarge Forex Razor Rebates Tab Screenshot

As an example of how big a difference rebates can make, we will take a look at the long-running EA 'Magic Champ' which has actually been earning rebates for the past few years; however, you would never know it from looking at trading performance prior to today. 

The widgets below represent the trading performance as calculated by ForexRazor vs. MyFxBook, the first including rebates and the latter not including rebates. 

You can see that as of the date of this posting, there is about a 70% difference in profitability when including rebates vs. not including rebates.  Please note the drawdown figures match pretty closely in this case between the sites. However, that is not typical, depending on the trading style of the trader. 

We have had quite a few questions about why there can be huge differences in Drawdown metrics on ForexRazor vs. Myfxbook.  This is due to the fact of both sites using completely different methods of arriving at Max Drawdown.  MyFxBook logs equity every so often, or does a single end-of-day equity calculation for historical moments before the account was added to their system.  ForexRazor actually calculates drawdown as opposed to logging it, using a database of historical quotes and iterating through every single moment the account has existed to 'mark positions to market'.  This can lead to huge differences and there are examples of ForexRazor showing 80% drawdown and MyFxBook showing near 0% drawdown, causing lots of confusion for users of both systems. 

We will be posting a more in-depth blog post regarding this issue, which is a separate issue entirely from including rebates vs. not including rebates.

If you think rebates should be reflected on your account and they are not, please contact us.  Please note is owned and operated by the same company as thus there is no issue with sharing of information between the 2.
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