Also known as: Gross trading revenue, Top-line revenue, Broker gross income
Gross Revenue is the total income a broker earns from the trading activity of an IB's referred clients before any expenses, IB payouts, bonuses, or operating costs are deducted. It is the raw revenue pool from which Revenue Share (RevShare) commissions are calculated.
What counts inside gross revenue varies by broker. It typically includes spread markup and per-lot commissions, and may or may not include overnight swap charges, financing fees, or losses booked against B-book flow. Two brokers quoting the "same" 30% RevShare can pay very different amounts depending on whether swaps and commissions are inside their gross-revenue definition.
In a RevShare deal, your payout is a percentage of gross (or sometimes net) revenue. If your clients generate $20,000 of gross revenue in a month and your deal is 30% of gross, your commission is $6,000, before the broker applies any deductions specified in your contract.
Because the definition drives your income, the exact wording in the partnership agreement matters as much as the headline percentage. Gross revenue sits above net revenue, which subtracts costs such as platform fees, bonuses, and processing charges before the split is applied.
As your referred clients trade, the broker records the revenue each trade generates: spread markup, commissions, and, depending on the definition, swaps and B-book P&L. Summed over the period, this is gross revenue.
Under a gross-based RevShare, your commission is simply your agreed percentage of that pool. Under a net-based deal, the broker first subtracts allowable costs (platform and liquidity fees, bonuses, payment processing) to reach net revenue, and your percentage applies to the smaller figure. The single most important due-diligence step is confirming, in writing, which revenue base your percentage applies to and exactly what it includes.
Referred clients generate spreads, commissions, and possibly swaps on each position.
All trading income from your clients is summed into gross revenue for the period.
Check whether swaps, commissions, and B-book P&L are included per your contract.
On net deals the broker subtracts platform fees, bonuses, and processing costs to reach net revenue.
Your agreed percentage of the gross or net figure is credited as commission.
Why it matters for partnership: In RevShare deals your payout is a percentage of gross revenue, so how the broker defines it, whether swaps and commissions are included, directly sets your income. Confirm the definition before signing, not after.
An IB signs a 35% RevShare with a broker whose gross-revenue definition includes spreads and commissions but excludes swaps. The IB's swing-trading clients generate $12,000 in spreads and commissions plus $4,000 in swap charges. Because swaps are excluded, the payout is 35% × $12,000 = $4,200, not 35% × $16,000 = $5,600, an $1,400 monthly gap driven entirely by the definition.
| Metric | Costs deducted | Effect on RevShare | Partner preference |
|---|---|---|---|
| Gross Revenue | None | Higher payout base | Preferred by partner |
| Net Revenue | Platform fees, bonuses, processing | Lower payout base | Preferred by broker |
Before signing, get the broker to confirm in writing whether swaps and commissions are inside gross revenue; for swing-trading audiences the swap treatment alone can move your payout by double digits.
Confusing gross with net revenue and overestimating your RevShare payout before the broker deducts platform fees, bonuses, and processing costs.
Typically spread markup and per-lot commissions, and sometimes overnight swaps or B-book client losses. The exact inclusions are defined in your partnership agreement and vary by broker.
It depends on the deal. Gross-based deals apply your percentage to the full revenue pool; net-based deals subtract costs first, giving a smaller base. Always confirm which one your contract uses.
Usually because the deal is net-based, or because the gross definition excludes items like swaps or commissions that you assumed were included.
In net-based deals bonuses are commonly deducted before your split. In pure gross deals they typically are not, but you must confirm this in writing.
No. Gross deposits measure client funding inflows, while gross revenue measures the trading income the broker earns from client activity. They are unrelated figures.
Often yes, especially at higher volumes. Including swaps and commissions in the base can matter more to your income than a slightly higher headline percentage.
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