Fixed rate / premium charge

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TisTheOne
Posts: 1
Joined: Tue Dec 29, 2020 5:22 pm

I have been offered a fixed rate after a few emails back and forth. I am currently on 20pc premium charge but close to the upper levels. Fixed rate is 17pc. I will ask if he minds sharing his email address with you so you can contact him
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

TisTheOne wrote:
Tue Dec 29, 2020 5:30 pm
I have been offered a fixed rate after a few emails back and forth. I am currently on 20pc premium charge but close to the upper levels. Fixed rate is 17pc. I will ask if he minds sharing his email address with you so you can contact him
Is it a complete replacement for the Premium charge or do they still calculate any possible charges weekly and you pay if any are due.
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Derek27
Posts: 10393
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

spreadbetting wrote:
Tue Dec 29, 2020 6:08 pm
TisTheOne wrote:
Tue Dec 29, 2020 5:30 pm
I have been offered a fixed rate after a few emails back and forth. I am currently on 20pc premium charge but close to the upper levels. Fixed rate is 17pc. I will ask if he minds sharing his email address with you so you can contact him
Is it a complete replacement for the Premium charge or do they still calculate any possible charges weekly and you pay if any are due.
I was just typing that question as you posted.

So, if you traded just one market and made £1K. PC with 2% commission would be £980 profit, less PC of £200 - (£20 / 2) leaving you with £790.

At 17% commission your profit is £830. What happens next TisTheOne?

If they still apply PC they surely wouldn't credit you for generating only half of the 17%: £200 - (£170 / 2) leaving you with £715 ?
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Yep be interesting to know if you do avoid the PC calculations with a fixed rate. Whenever I've done their Premium Deals they've always gone thru the PC calculation at the end of it and PC charged, maybe at a more favourable rate for whatever reason/s but still calculated and charged.
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gazuty
Posts: 1918
Joined: Sun Jun 26, 2011 11:03 am

For a period I was satisfied and consoled myself with this explanation.

But now I wonder, if my spouse and adult children developed an interest in exchanges and opened their own accounts would I sooner (probably) or later receive an email congratulating the enthusiasm of my family and very much welcoming them but also noting that all our accounts had been combined for PC calculation purposes?

Maybe I just read the blog again and be consoled. First world problem.
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Derek27
Posts: 10393
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

gazuty wrote:
Wed Jan 20, 2021 12:57 am
For a period I was satisfied and consoled myself with this explanation.

But now I wonder, if my spouse and adult children developed an interest in exchanges and opened their own accounts would I sooner (probably) or later receive an email congratulating the enthusiasm of my family and very much welcoming them but also noting that all our accounts had been combined for PC calculation purposes?

Maybe I just read the blog again and be consoled. First world problem.
Somebody on this forum checked with Betfair if it's okay for his wife to have her own account in the same household and they said it's fine. The problem is, if somebody trains their partner to trade and they trade in the same style, I wonder if that would fall foul of their PC avoidance algorithm?
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gazuty
Posts: 1918
Joined: Sun Jun 26, 2011 11:03 am

Derek27 wrote:
Wed Jan 20, 2021 1:20 am
Somebody on this forum checked with Betfair if it's okay for his wife to have her own account in the same household and they said it's fine. The problem is, if somebody trains their partner to trade and they trade in the same style, I wonder if that would fall foul of their PC avoidance algorithm?
Ok let’s leave my wife out of it for the moment. My adult children are genetically predisposed to developing remarkably similar automations.
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