Also known as: RT, Round Trip, Round-Turn Trade, Per Round Turn
A Round Turn is the complete lifecycle of a single trade: opening a position and later closing it. It is the standard unit on which trading commissions and IB volume rebates are calculated, so a "$10 per lot" rebate almost always means $10 per completed round turn.
The term comes from futures and forex, where a trade has two legs, entry and exit. Some brokers quote costs "per side" (charging separately on entry and on exit) and others "per round turn" (a single charge covering both legs). Confusing the two makes a cost look half or double its real size, so always confirm which convention a broker uses.
For an IB, the round turn is the trigger event for getting paid. Consider a rebate of $7 per standard lot round turn. A client opens 5 lots and closes them the same day: that is 5 completed round turns and a $35 rebate. If the client opens the 5 lots but holds them open across the reporting cycle, no round turn has completed, and your rebate has not yet accrued.
Because partial closes count proportionally, a client who scales out of a 10-lot position in five 2-lot exits still generates the full 10 lots of round-turn volume, just spread across several fractional payouts.
A round turn is recorded when a position that was opened is subsequently closed, at which point the broker's system stamps the traded volume and calculates the commission or rebate owed. Volume is measured in lots, so rebates scale directly with how much size the client cycles through.
Brokers vary on quoting convention. "Per round turn" bundles both legs into one figure; "per side" charges on entry and again on exit, so two sides equal one round turn. When you compare rebate offers across brokers you must normalise them to the same basis or you will misjudge which pays more.
Partial closes generate fractional round turns. If a client closes half of a position, half the volume is booked and half the rebate accrues immediately, with the remainder posting when the rest of the position is closed.
The entry leg is recorded but no round turn is complete and no rebate accrues yet.
The exit leg completes the round turn and the traded lot volume is finalised.
The closed volume in lots is multiplied by the per-lot rebate rate.
The calculated amount posts to your partner dashboard, subject to the payout cycle.
Why it matters for partnership: IB rebates accrue on completed round turns, not open positions, so you only get paid once a client closes. Knowing this prevents panic when volume shows but commissions have not yet posted, and it shapes how you coach client activity.
An IB on Exness earns a $6 rebate per standard lot round turn. A referred scalper opens and closes 30 standard lots across a trading day. Because every position is closed the same session, all 30 round turns complete and the IB accrues $180 in rebates for that day, posted to the partner area once the cycle settles.
| Factor | Per Round Turn | Per Side |
|---|---|---|
| What it charges | Both legs in one figure | Entry and exit separately |
| Quoted number | Looks larger per unit | Looks smaller per unit |
| Comparison risk | None if consistent | Halves the apparent cost |
| Common in | Forex, futures rebates | Some equity and futures desks |
Coach clients to scale out of winning positions; every partial close completes a fractional round turn and posts rebate volume to you sooner.
Expecting a rebate the moment a client opens a large position leads to false panic; the payout only accrues once the trade is closed and the round turn completes.
One round turn is a single position opened and then closed. Both legs together form one round turn.
In IB rebates it almost always means per round turn, but always confirm, because some brokers quote costs per side which halves the apparent figure.
The rebate accrues when the client closes the position and the round turn completes, then pays out on the broker's normal cycle.
Yes. Closing part of a position books that fraction of the volume and accrues a proportional rebate, with the rest posting when the remainder closes.
No. An open trade has not completed its round turn, so no commission rebate has accrued on it yet.
Normalise both to the same basis, either per round turn or per side, before comparing, so you are measuring like for like.