Skilling clients can expect commission charges only on FX pairs and Spot Metals on the Premium account type. Our charges start from $35 per million USD traded. If the base currency of the account is other than USD, the charge is converted to the respective currency.
Commission per million
Commission calculation formula
Commission = Trade size in base currency * (USD conversion rate * USD charge on a per million traded) * Account currency exchange rate
You are trading 100,000 GBP/NOK
Account currency EUR
Conversion of trade size from base currency to USD 100,000 GBP * 1.2846 (GBP/USD rate) = 128,460 USD
Calculate commission charges in USD ($50 per USD million traded) 128,460 USD * 0.000050 = 6.42 USD
Convert commission charges from USD to EUR (account currency) 6.42 USD / 1.1025 (EUR/USD rate) = 5.82 EUR
You are trading 100,000 EUR/USD
Account currency USD
Conversion of trade size from base currency to USD 100,000 EUR * 1.1025 (EUR/USD rate) = 110,250 USD
Calculate commission charges in USD ($35 per USD million traded) 110,250 USD * 0.000035 = 3.85 USD
No further conversions are needed since the base account currency is in USD
* Please note that commission charges applied only on Premium account types, upon opening and closing the position
At the end of each trading day (22:00 GMT), positions held in your account may be subject to a charge called “swap or rollover”. The cost can be positive or negative, depending on the direction of your trade and the applicable rate. You are also able to see the expected charge or credit on your Trade Ticket. The swap is charged automatically and is converted into the currency that the account is denominated in. The swap is calculated and charged once every weekday for 1 day rollover, with the exception of Wednesday, when it is calculated and charged 3 times to the account for the weekend.
Swap Charges on Forex
For Forex pairs, the cost or income is calculated as the interest rate differential between Tomorrow Next Deposit Rates (TNDR) of the 2 currencies in question, plus the markup charged by the Company on which the position is held and depending on the type of position (Long / Short). Clients may either gain or lose on swap, thereby having either positive or negative rollover, respectively. It is possible that some instruments may have negative rollover values on both sides as a result of commission being added on top of the overnight interest rate differential of the two currencies.
Forex Swaps are calculated using unified equations as below:
Swap = (Pip Value * Swap Rate * Number of Nights) / 10
Pip Value: 10 for all Forex pairs with the exception of JPY, HUF and THB pairs which where the pip value is 1000 and RUB & CZK pairs where pip value is 100
Number of nights: the total amount of nights the position is kept open
The result is divided by 10 because the swap charges are quoted in cents.
Swap Charges on Indices
Swap rates for indices CFD’s are based on the underlying interbank rate of the index plus company’s markup and are calculated using unified equations as below:
Units: the total number of units bought / sold in the trade
Price: price of the share
Libor: the 1-month Libor rate of the quoted currency
Markup: 4% on the Buy and 3% on the Sell
* Markup for Premium accounts is 3.5% (Buy) and 2.5% (Sell)
Swap Charges on Cryptos
Cryptos swap charges are calculated as a percentage of the price.
Swap = Price * Markup %
Price: price of the cryptocurrency
One of our core values is transparency. Even if the swap fees are clearly displayed on your Trade Ticket every time you are opening a new position, we want you to understand how our fees are calculated. We hope that you now have a better understanding of our fees and realize that this is not an arbitrary number added to your positions, but rather, a fee calculated using standard industry rates.
* Swap fees are subject to change at any given time and could change on a daily basis without prior notice, depending on market conditions.
Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Please ensure you fully understand the risks and take appropriate care to manage your risk.OK
Trading financial products on margin carries a high degree of risk.