Additional Fees
Overnight Charges
An overnight charge or swap fee shall apply to each position which remains open overnight.
Conversion fees
Conversion fees apply when your account currency is different than the quoted currency of the underlying asset being traded.
Inactivity fee
If no trading activity occurs for over 90 days, we charge a monthly fee. For inactive accounts over a period exceeding 12 months, an Annual Inactivity Fee applies.
No Deposit / Withdrawal Fees
You will not be charged any Deposit / Withdrawal Fees, as they are all covered by Finexo.com.
No other charges
We do not charge any live price data feeds, any account documentation fees or any other fees.
Definitions
A spread is the difference between the bid (buy) price and the ask (sell) price for a specific trade. It is therefore your cost of opening and closing a specific position and it could have a significant impact on the profitability of your trades.
Tighter spreads tend to mean lower trading costs, everything being equal. A tighter spread means that the market price doesn’t have to move as far from your entry price, for your trade to become profitable.
Volatility caused by major economic developments and market news can trigger sudden high fluctuations in the price of specific instruments, which can lead to an increase (or widening) of spreads, in order to cover the increased risk of volatile markets.
Conversion fees apply when your account currency is different than the quoted currency of the underlying asset being traded. The fee will be reflected as a percentage of the conversion rate used. This will affect any conversions made on the Used Margin, Profit and Loss, Overnight Rollovers (Financing), CFD Rollovers and adjustments for Corporate Actions (such as Dividends and Splits).
As an example, if the account currency is US dollars and you open a position on a Euro quoted asset (i.e. Germany30) your Used Margin is converted in US dollars. The conversion will include a fixed percentage on the conversion rate applicable at the time as a mark-up.
Conversion Fees are as follows:
Used Margin Conversion Fee : 0.3 %
Profit/Loss: 0.5%
Overnight Rollover (Swaps) : 0.5%
CFD Rollover: 0.5%
Dividend Conversion Fee: 0.5 %
Split Conversion Fee: 0.3%
Tighter spreads tend to mean lower trading costs, everything being equal. A tighter spread means that the market price doesn’t have to move as far from your entry price, for your trade to become profitable.
Volatility caused by major economic developments and market news can trigger sudden high fluctuations in the price of specific instruments, which can lead to an increase (or widening) of spreads, in order to cover the increased risk of volatile markets.
We charge a $25 monthly fee, if no trading activity has occurred for 90 days or more.
If your account remains inactive for a period exceeding 12 months, an Annual Inactivity Fee of $100 or equivalent per quarter shall apply, minus any monthly inactivity fees already charged.
Examples
Sugar’s quoted currency = USD
Position Direction = Long (Buy)
Webtrader Volume = 12,600 ( MT4 = 1.26 lots)
MT4 Contract Size for Sugar = 10,000 lbs
MT4 Volume= Lots * Contract Size = 1.26 * 10,000 = 12,600 lbs
New contract price minus Old contract price = 0.79 USD
Sugar’s Spread = 0.04 USD
Sugar’s Mid Closing Price of the Day = 11.61 USD/lbs
Sugar’s Overnight Swap Charge = -0.0217 % = - 0.000217
Daily Swap Charge = Volume * Instrument’s Mid Closing Price * Instrument’s Overnight Swap Charge
Daily Swap Charge = 12,600 * 11.61 * (- 0.000217) = - 31,74 USD
Rollover adjustment = Volume * Price Difference between New contract and Old contract
12,600 * 0.79 = 9,954 USD
Rollover Spread Charge = Volume * Instrument’s Spread
Rollover Spread Charge = 12,600 * 0.04 = 504 USD
Total Rollover Adjustment = Rollover adjustment + Rollover spread charge = (-9,954) + (-504) = -10,458 USD
If your account currency is different from the instrument currency, then the amount is converted to your account currency at current market price.Assume your account is denominated in EUR and you want to open a position on Natural Gas CFD which is quoted in US dollars. If the required margin for this position is $1,000 it will be converted in EUR in the following way:
Used Margin Conversion Fee: 0.3%
EUR/USD Mid-price: 1.13612
At the time of position opening, Used Margin will be converted to EUR with the following rate:
1.13612 – 1.13612*0.3% = 1.1327
Used Margin = $1,000 / 1.1327 = 882.85 EUR
FAQs
Total Rollover Adjustment = Rollover adjustment + Rollover spread charge.
You can see the trading hours of each instrument under the respective asset class on the homepage.
Your accounts value excluding P&L from open positions – it equals the funds you deposited into your account and your P&L from closed positions.
Your accounts value, it equals your balance, plus any P&L from open positions.
The sum of funds you have available to use as initial margin for new positions. Calculated by subtracting the margin used by your current open positions from your equity.
Indicates the sum of the margin currently being used by your open positions. Calculated by all of the initial margins of your open positions.
Professional clients are exempt from regulatory limits on leverage in place for retail clients, and are able to trade with higher leverage. Please refer to our Client Categorisation Policy.
During daily breaks and in major news, spreads may widen.
Leverage is estimated and depends on the real-time value of the instrument.
