IC Markets
You watched price move 30 pips your way, but your account was credited as if it moved 24. Nothing is wrong with the broker; several ordinary costs and mechanics sit between the price on the chart and the number that lands in your balance. This guide names all of them and works a full example.
1. You entered at the ask and exited at the bid
The chart usually plots the mid price or the bid. When you buy, you pay the ask, which is higher. Closing that buy means selling at the bid, which is lower. The gap is the spread, and you pay it once per round trip. If EUR/USD has a 1.2-pip spread, a trade that looks like a 30-pip win on the chart is really a 28.8-pip win in your account before anything else.
2. Commission
Raw-spread and ECN accounts charge a commission per lot, often around USD 3.5 per side, so USD 7 per round-turn standard lot. On a 0.10-lot trade that is USD 0.70, deducted from your profit. Standard accounts fold this into a wider spread instead, so you do not see a separate line but you still pay it.
3. Swap on positions held overnight
If you held the trade past the daily rollover (typically 5pm New York time), a swap charge or credit was applied for each night. On many pairs the swap is a net cost, and on the Wednesday rollover it is charged at triple to account for the weekend. A trade held four nights can lose several pips of profit to swap alone. The swap guide explains this.
4. The closing price, not the price you saw
Your close is filled at the price available at that instant, which can differ slightly from the last price you saw, especially in a fast market or on a market order. A pending take-profit is filled at your specified price if liquidity allows, but a manual close in volatile conditions may fill a fraction of a pip worse. This is slippage, and it works both ways over time.
5. Account currency and conversion
If you trade EUR/USD in a USD account, the profit is already in your currency. An account in a different currency means the USD profit is converted at the broker's rate, which carries a small spread. A GBP profit converted to a rand or rupee account, for example, loses a fraction of a per cent in the conversion.
A worked example
| Step | Value |
|---|---|
| Chart move in your favour | 30.0 pips |
| Less spread paid on the round trip | -1.2 pips |
| Net pip gain | 28.8 pips |
| Position size | 0.10 lots (USD 1 per pip on EUR/USD) |
| Gross P/L | +USD 28.80 |
| Less commission (USD 7 per lot round-turn) | -USD 0.70 |
| Less swap (2 nights held) | -USD 1.10 |
| Credited to account | +USD 27.00 |
A trade that looked like a USD 30 win on the chart credits USD 27. Every deduction is standard and disclosed; they just are not shown on the price chart.
Tomas kept a spreadsheet of his closed trades and noticed the credited profit was consistently a few dollars below his chart estimate. He added columns for spread, commission and swap, and the gap disappeared. Now he sets his take-profit targets a few pips wider to cover the round-trip cost, and closes intraday trades before the rollover so swap never touches them.
Judge a trade by its net result in your account, not the pip count on the chart. Build the round-trip cost, spread plus commission plus any swap, into your take-profit target so a trade that hits target is genuinely profitable after costs.
The chart shows you the market price. Your account shows you the market price minus the cost of doing business: the spread you cross twice, the commission, the swap if you held overnight, and a currency conversion if your account is not in the quote currency. None of it is the broker shortchanging you. It is the reason you should always target a move that clears your costs with room to spare.
Frequently asked
Why is my forex profit less than the pips I made?
The chart plots the mid or bid price, but you buy at the ask and sell at the bid, so you pay the spread once per round trip. Commission, overnight swap, a slightly different fill price, and currency conversion on non-quote-currency accounts also reduce the credited amount.
How much does the spread cost me per trade?
One full spread per round trip. On EUR/USD at 1.2 pips and a 0.10-lot trade, that is about USD 1.20. On a wider pair like gold or an exotic, it is considerably more, which is why entry timing and pair choice matter.
Does swap really eat my profit?
If you hold overnight, yes. Swap is charged or credited at each daily rollover, and on most pairs it is a net cost. The Wednesday rollover charges triple swap for the weekend. Closing before 5pm New York time avoids it entirely.
Why was my take-profit filled at a slightly different price?
A take-profit is filled at your specified price when liquidity allows, but in a fast market a manual close or a market order can fill a fraction of a pip worse. This slippage occurs in both directions over many trades.
Should I include costs in my target?
Yes. Set your take-profit far enough beyond your entry to cover the round-trip spread and commission, plus any expected swap, so a trade that reaches target is profitable in your account, not just on the chart.