How is the performance fee calculated?
performanceFee = (unrealizedPnL + realizedNetPnL – management Fee – highWaterMark) * pfPercentage
The HighWaterMark is not based on your Balance but on your Equity. ( If the account’s equity is below the HWM, then no fees are charged.)
This is the link for further information > https://help.ctrader.com/ctrader-copy/high-water-mark-model/