Beginning June 15th 2014 we have implemented a new Fees structure, switching from Over the Weekend Fees to the industry standard of Daily Rollover Fees/Credits .
Overnight Rollover fees are the industry standard, and better reflect the supply and demand forces driving the market. With Overnight Rollover fees, the fees are charged according to the direction of a given position (different fees for buy and sell positions, even if they’re on the same instrument) and in some instances, this means that you can get money back.
There is no rollover charged or credited for Saturday and Sunday, the fees for these two days are made up on Wednesdays. On Wednesday you will be charged or credited the regular fee multiplied by 3.
1. Will I be charged the new overnight fees on positions that I have opened prior to this change?
Yes. We will stop charging the Carry Over the Weekend fees that currently exist and will begin charging the daily overnight fees. Therefore, any position carried over from June 16th, will be charged an overnight fee.
2. When will the overnight fees be charged?
The fees will be charged at 17:00 New York time (21:00 GMT). The fees will be charged for any position open at this time.
3. How will I be able to see the overnight fees that will be charged?
You will be able to see the complete list of fees that we charge in the fees section of our website. Additionally, when you manually open a position, it will show in the confirmation window that opens prior to placing the trade.
4. Are there overnight fees on commodities, stocks, or indices?
We are only charging overnight fees on our real-time instruments which include currencies, commodities and indices. Currently, we are not charging overnight fees on Stocks.
5. How will I be able to see how much I received or paid?
You will be able to view the fees and rebates in your account statement
6. Will you be taking the overnight fee from the position or from the account balance?
For manual traders, we will be taking the overnight fee from the account balance. For CopyTrade position, we will be taking the fee from the available copy balance.
7. What if I do not have enough money in my account balance?
The system will charge the fee from the balance as detailed in question #6. If you do not have available funds, it will create a negative balance.
8. Will I be able to carry my trade over the weekend with 1:400 leverage?
9. Will I be able to carry my trade overnight with 1:400 leverage?
10. Are Rollover fees subject to change?
Yes. As market conditions change, we will evaluate if changes need to be made to the fees that we charge. The full list of up to date rates can be consulted on our Fees page.
11. How will I be charged for positions left open over the weekend?
Since there is no rollover charged or credited for Saturday and Sunday the fees for these two days are made up on Wednesdays. On Wednesday you will be charged or credited the regular fee multiplied by 3, which is the case for this position as well.
12. How can I estimate the fees I will be charged?
We have created a dedicated Fee Calculator to help you calculate the estimated fee you will be charged.