Trading & Markets
Round Turn
One complete trade cycle: an entry and its exit, two executions. Futures costs and volume stats are often quoted per round turn.
In plain English
A round turn (or round trip) is the unit of a completed futures trade: buy one contract, later sell it, one round turn. Commissions quoted per round turn include both sides; quoted per side, double them.
The distinction matters when comparing prop firm and broker fee schedules, which mix the two conventions freely. Round-turn counts are also how firms measure activity for inactivity rules and how traders normalize their own cost and volume statistics.
- A day of 25 MES round turns at $2.80 per round turn costs $70 in commissions, identical to $1.40 per side.