Traders Connect utilises pro-rata billing to ensure you are only charged for the exact amount of service you use. This flexible billing method allows you to upgrade or downgrade your account limit at any time, with charges adjusted accordingly based on the time of the billing cycle.

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What is Pro-Rata Billing?

Pro-rata billing means that you are billed proportionally for the services you use. If you make changes to your subscription partway through a billing cycle, the charges are calculated based on the remaining days in that cycle.

Example of Pro-Rata Billing for Account Plans

Our account plan is charged at $10 per account per month. Here’s how pro-rata billing works in practice:

Scenario: Upgrading Your Account Limit

• Initial Subscription: You start with 2 accounts, costing $20 per month (2 accounts x $10 per account).
• Mid-Month Upgrade: Halfway through the month, you decide to upgrade to 5 accounts.
• For the remaining 15 days of the month, you are charged pro-rata for the additional 3 accounts.
• Calculation: (3 additional accounts x $10 per account) / 30 days x 15 days = $15.
• Your total charge for the month will be the initial $20 plus the pro-rata $15, totalling $35.

Scenario: Downgrading Your Account Limit

• Initial Subscription: You start with 5 accounts, costing $50 per month (5 accounts x $10 per account).
• Mid-Month Downgrade: Halfway through the month, you decide to downgrade to 2 accounts.
• For the remaining 15 days of the month, you are credited for the reduction of 3 accounts.
• Calculation: (3 accounts x $10 per account) / 30 days x 15 days = $15.
• Your total charge for the month will be the initial $50 minus the pro-rata $15 credit, totalling $35.

Flexibility with Pro-Rata Billing

Pro-rata billing offers great flexibility, allowing you to adjust your account limit as your needs change. Whether you need to add more accounts for increased trading activity or reduce the number of accounts during quieter periods, you can do so without being locked into a fixed rate.

Conclusion

Pro-rata billing on Traders Connect ensures fair and accurate charges based on your usage. This billing method provides you with the flexibility to upgrade or downgrade your account limit as needed, with costs adjusted proportionally. Understanding how pro-rata billing works can help you manage your subscription more effectively and make the most out of your Traders Connect experience.

Updated on: 25/11/2024