Jump to content

Over night fee's


Recommended Posts

Hello,

Could someone kindly explain for me,

I open a position for spot gold at price 1740 @ £10 pp BUY. No stops or limits set.

at 20:59 I log out of the platform at the position is 1720, a loss of 20 points.

what charges will I pay ?

Same scenario as above but this time a SELL 20 points in profit

Although I have been trading fro 4 years I have never left a position open over night or over a weekend.

Thank you in advance

 

Link to comment
44 minutes ago, Sunny Days said:

Hello,

Could someone kindly explain for me,

I open a position for spot gold at price 1740 @ £10 pp BUY. No stops or limits set.

at 20:59 I log out of the platform at the position is 1720, a loss of 20 points.

what charges will I pay ?

Same scenario as above but this time a SELL 20 points in profit

Although I have been trading fro 4 years I have never left a position open over night or over a weekend.

Thank you in advance

 

Hi, it’s relatively simple to work out. You need to look at the KID document for the instrument you’re trading.. think it’s on the platform when you click on the ticker and then under market info, at the top.

They work it out based at 10pm everyday and it’s based on the notional exposure. So whether you’re in profit or at a loss is irrelevant.. it would just be based on £10 x 1720 = £17200 notional. 

You get charged LIBOR plus a margin (usually about 2-3% per annum) and it depends on what the instrument is as to what the reference interest rate is.

Tbh you could go to the effort of working it all out but I would say just do it and you’ll see how much it is, it’s not a material amount for one night and that will give you the answer. I trade FTSE and it costs you about half a point, so if you’re £10 a point the cost would be around a fiver. It would probably be about a quarter of that for yours given gold is (1700/6800) around a quarter the value of FTSE, so I’d guess at somewhere between £1 and £1.50 a night without going to the trouble of finding out which interest rates they use for it.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      23,569
    • Total Posts
      96,879
    • Total Members
      44,146
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    sweettooth
    Joined 29/11/23 22:18
  • Posts

    • I think his partnership with Bitget is actually a success considering considering he also won 2 ballon d'or  and Bitget has continuously grown I the process. I feel more 20 million registered users in 5 years since inception is unprecedented. 
    • That's a wise call and it's important to also confirm that the exchange of your chosen should be in compliance and perhaps licensed in your country. 
    • Investing in crypto could be challenging especially the Fear of Missing out Lambo. This mostly affect traders trading strategy and ideology. Predicting the right time to buy is always cumbersome and that is why many analyst advise DCA because it curtails FOMO and gives you a long-term crypto trading mentality. In crypto Dollar Cost Averaging involves investing the same amount of money in a target token at regular intervals over a certain period of time, regardless of price. This will help to control volatility on your portfolios and minimize FOMO For example when you decide to invest $100 on a token and invest $10 daily or weekly or monthly till you fulfilled you $100 target investment on the token irrespective of the price of the token. This strategy helps a crypto trader to build his portfolio over the long term thereby he/she is not bothered by short-term volatility in the broader markets. This strategy mostly favours low-budget traders in building a strong portfolio but the problem most normally encounter is exchange minimum trading amount. One analyst advised on how to mitigate this was to accumulate on exchange that has lower trading fees and later send to where you desire to hold. He also noted that some of this exchanges are good in listing good projects for you to be among the early birds. Do you think DCA is the best method to accumulate token and which exchange offers the lowest tradeable balance and trading fees?
×
×
  • Create New...
us