Commission Fees for Bank Card Payments and Jobs Service to Be Implemented on MQL5.com
Hi
If I owe a developed say $200 and I know that there is a fee, what is the formula that I can use to figure out how much I owe him.
Is it simply 200 + 3.5% = $7 or is it 3.5% of the $ 207.
This is why I'm asking.
Thank you
I think the developer or receiver should be paying the commission fee. When I go to a store, I pay the price, the store gives VISA their cut.
Hi
If I owe a developed say $200 and I know that there is a fee, what is the formula that I can use to figure out how much I owe him.
Is it simply 200 + 3.5% = $7 or is it 3.5% of the $ 207.
This is why I'm asking.
Thank you
That announcement is for payment system / job section only starting from February 1, 2013 :
Say user A want to buy a product in Market for $ 100 and also want to create an EA and choose developer B to create it. They both agree that this EA creation will cost $ 200,
So the total money that user A must deposit to mql5 payment system is $ 300. If user A deposit to mql5 payment system using Bank Card, user A will be charged with 3.5 % commission. So in order to have $ 300 in his mql5 account, user A should pay $ 311 using his Bank Card. Here's the calculation : $ 311 - 3.5 % = $ 300.11 .
When the job complete, developer B will receive $ 200 - 5 % or about $ 190 ( according to job rules section IV. Point 5. When payment for the work is added to the Developer's account, commission is charged automatically.)
Here the Russian version of this announcement with lots of comments ... in Russian (На MQL5.com вводится комиссия на платежи с пластиковых карт и сервис «Работа» )
Now all developer will have to increase their charges if they are the one to pay for it.
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You agree to website policy and terms of use
Payments and Jobs services were introduced on MQL5.com web site on June 17, 2010 allowing community members to make orders and pay for work done by other MQL5.com members.
However, 2.5 years have already passed since then. All this time, we were monitoring the activity of Jobs service users collecting statistics and drawing conclusions. By 2013, the number of fulfilled orders has reached 3 700 with the average order price of 54 credits. The services have been developing steadily but some side effects have been detected, including driving up the ratings, suspiciously fast fulfillment of orders for big money, creation of fictitious orders to improve Top developers rating and more.
The number of applications to arbitration has also been growing – about one work in ten now requires our close attention. Besides, we have been subsidizing the use of bank cards for a long time to develop the services, but that is no longer needed.
Therefore, the appropriate measures will be taken soon - we announce the completion of the grace period and implement the commission fees:
Introduction of the commission fees will lead to healthier functioning of Jobs service and MQL5.com internal payment system. This in turn will provide MQL5.community members with comfort and security when using the services.