New commission proposal, feedback wanted
November 23, 2011
Since we last spoke about changing our commission rates, we’ve been hard at work thinking about the best way to structure our commission moving forward.We quietly ruled out a commission structure based solely on trading volume (it was too easy to game) – so we’ve been left working out what would be fairest to everyone involved.
We’re aiming to implement a structure that ensures our customers continue to enjoy some of the best value on the Internet.
So our plan is this: We will assign customers a commission tier according to their average monthly commission contribution. This average will be calculated over a rolling 3 month period, and reassessed at a regular time each week.
| Commission contribution per month | Expected commission rate |
| Up to £3 | 4% |
| £3 – £10 | 3.5% |
| £10 – £30 | 3% |
| £30 – £100 | 2.5% |
| £100 – £300 | 2% |
| £300 – £1,000 | 1.5% |
| £1,000+ | 1% |
We’ve intentionally set the barriers low, so that most of our active users will quickly find themselves on 2 – 3.5%. That is a big saving compared to the 4% that many are on now.
As always, we want your feedback! Let us know what you think by posting in the comments below, or emailing us directly. We’ll take your thoughts into consideration when it comes time to switch to our new structure, which will be happening shortly.
Update: Many of you have got in touch suggesting that we go off implied commission (taking into account losses as well as wins) instead of actual commission. This is something we are open to doing, so if you want to give feedback on that idea as well, please go ahead!
December 20, 2011 at 19:08
[...] 20, 2011 After listening to your feedback on our proposed commission structures, we have decided to reduce the commission of all users to a flat rate of 2% in 2012. This new [...]
December 20, 2011 at 19:10
[...] listening to your feedback on our proposed commission structures, we have decided to reduce the commission of all users to a flat rate of 2% in 2012. This new [...]