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Be informed - learn and understand the costs related to trading FX and CFD instruments with House of Borse.

How is FX Commission calculated?

House of Borse charges commission per $100,000 of volume traded. Any amount greater than, or less than, this is charged pro-rata.

 

If the amount traded is a non-USD currency, then the volume is converted in to a USD equivalent volume at the spot rate at the time the trade is executed, and the commission is then applied to this volume.

 

Also, all commission for a position is charged at the opening of the trade.

 

Below are examples to illustrate how this works.

 

 

Example 1: Trading USD-based currency pair

A client goes long 1 lot of USDCAD. The client is a ‘Silver’ account holder, so is charged $4 per $100,000 per side.

 

Therefore, USD volume of 1 lot of USDCAD = $100,000

 

So, commission charged for this trade (open and close) = $4 x 2 (all commission charged and debited on the opening of the trade)

 

Total commission = $8

 

 

Example 2: Trading Non-USD-based currency pair

A client goes long 1 lot of EURUSD. The client is a ‘Silver’ account holder, so is charged $4 per $100,000 per side. The EURUSD exchange rate at the opening of the position is 1.1750.

 

Therefore, the USD equivalent volume of 1 lot of EURUSD = 100,000 x 1.175 = $117,500

 

So, the commission charged for this trade (open and close) = $4 x (117,500/ 100,000) x 2 = $4.70 x 2 (all commission debited on the opening of the trade)

 

Total commission = $9.40

 

 

Example 3: Trading an exotic currency pair

A client goes short 1 lot of GBPDKK. The client is a ‘Gold’ account holder, so is charged $3.50 per $100,000 per side. The GBPUSD exchange rate at the open of the position is 1.3200

 

Therefore, the USD equivalent volume of 1 lot of GBPDKK = 100,000 x 1.3200 = $132,000

 

So, commission charged on this trade (open and close)  = $3.50 x (132,000/ 100,000) x 2 = $4.62 x 2

 

Total commission = $9.24

 

 

 

How is CFD Commission calculated?

The commission rates charged for CFDs and commodities can be seen on the CFD page of our website.

 

The full amount of commission for CFDs is debited on the opening of the trade. The commission is charged on a per lot basis. Any amount greater than, or less than, 1 lot is charged on a pro-rata basis.

 

Hedged positions are charged per leg, ie: the long and short positions are charged separately.

 

 

Example 1: Client is long 1 Lot of a CFD

A client has a USD denominated account and is a ‘Silver’ account holder. The client goes long 1 lot of UK 100. So the client is charged $7 per trade plus 1 tick of the quoted price per lot traded.

 

Therefore, Commission = $7 + $(10x0.01) = $7.10 (all commission charged and debited on the opening of the trade)

 

 

Example 2: Client Short 3 lots of a Commodity

A client has a EUR denominated account and is a ‘Silver’ account holder. The client goes short 3 lots of US Oil. EURUSD rate at the opening of the trade is 1.1750.  The client is therefore charged the commission of $9 per lot traded.

 

Therefore, commission on 3 lots of US Oil= 3 x $9 = $27 (all commission charged and debited on the opening of the trade)

 

Please note: As the client’s account is denominated in EUR, the amount debited for commission is converted to EUR, but the amount is still equivalent to $9 per lot.

 

So commission debited = 27/1.1750 = EUR 23.00

 

 

Example 3: Client has a hedged position of 5 lots

A client has a USD denominated account and is a ‘Silver’ account holder. The client goes short 5 lots of US 30.  The client also goes long 5 lots of US 30, so that the position is fully hedged. The client is charged commission of $9 plus 1 tick of the contract per lot traded.

 

Therefore,


Commission for long position = (5 x $7) + $5 = $40 +$5 = $40 

 
Commission for short position = (5 x $7) + $5 = $40 +$5 = $40   

 

Total Commission = $80 (all commission charged and debited on the opening of the trade)

 

 

How is the Management fee calculated?

The management fee is a flat fee charged per lot of a currency pair that is open overnight.

 

The charge is applied each night the position is kept open and is applied pro-rata.

 

Long and short positions are charged separately, even if it is a hedged position.

 

On Wednesday’s the management fee is charged for 3 nights, to account for the weekend.

 

Our full range of management rates can be seen on our ‘Interest Free Account’ page.

 

Below are examples to illustrate how this works.

 

Example 1: Client long 1 lot

A client is long 1 lot of EURUSD. The management fee for EURUSD is currently $7.50

 

So, if the client held this position overnight from Monday in to Tuesday, then he would be charged $7.50

 

 

Example 2: Client long 0.5 lots

A client is long 1 lot of USDCHF. The management fee for USDCHF is currently $7.50.

 

So, if the client held this position overnight from Tuesday in to Wednesday, then:

 

Management Fee = 0.5 x $7.50 = $3.75

 

 

Example 3: Client long 1 lot on Wednesday Evening

A client is long 1 lot of GPNZD. The management fee for GBPNZD is currently $14.50.

 

So, if the client held this position overnight from Wednesday in to Thursday, then:

 

Management Fee = 3 x $14.50 = $43.50  (Charge includes Wednesday, Saturday and Sunday)

 

 

Example 4: Client Hedged 2 Lots

A client is long 2 lots of USDJPY.  She is also short 2 lots of USDJPY so that the position is fully hedged.  The management fee for USDJPY is currently $7.50.

 

So, if the client held this position overnight from Monday in to Tuesday, then:

 

Management Fee for long position = 2 x $7.50 = $15

 

Management Fee for short position = 2 x $7.50 = $15

 

Total Management Fee = $30

 

 

Please also note:

All finance adjustments for open positions are carried out at or after 23:59 (GMT+3, US DST)

All FX spot instruments are charged a swap fee, unless you choose the interest-free account, in which case you will be charged a daily management fee.

No finance adjustments are made on open positions on any CFD futures contracts.