Jump to content
  • 0

Overnight charges


Cedric

Question

4 answers to this question

Recommended Posts

  • 0

Hi @Cedric

Thanks for reaching out, 

When trading FX pairs you are effectively long one currency and short the other. When you hold a position overnight you earn interest on the currency you are long and pay interest on the currency you are short. This interest differential between the two currencies is what determines whether you pay or receive interest on a position held overnight. This is a simplified explanation but I hope you get the concept. In reality we use the TOMNEXT rate (a tradeable swap rate) which we would then add a 0.8% admin fee to. You can add the swap rates inclusive of the admin fee to the platform so that you are able to get an indication of whether you are paying or receiving interest on a particular pair. You can learn more about this here: 

All the best, 

Anda

Link to comment
  • 0
19 hours ago, Cedric said:

I can understand the charges for an overnight trade. But how does the DEPO work ???

Hi @Cedric,

Thank you for your post. 

By Depo do you mean the margin requirement?

The maintenance margin, also known as variation margin, is extra money that we might need to request from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses.

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/margin/what-is-margin

Let us know if you meant something else we will be able to assist you.

Thank you - Arvin

Link to comment
  • 0
On 04/07/2022 at 06:48, ArvinIG said:

Hi @Cedric,

Thank you for your post. 

By Depo do you mean the margin requirement?

The maintenance margin, also known as variation margin, is extra money that we might need to request from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses.

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/margin/what-is-margin

Let us know if you meant something else we will be able to assist you.

Thank you - Arvin

In my history of the trades I get an overnight charge but sometimes I get a credit (DEPO) Why is this ?

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
  • image.png

  • Posts

    • You all will agree with me that many of us tends to focus on big names like BTC, ETH, SOL, and XRP. I've followed this trend too. But lately, I've realized there's a whole world of opportunities beyond these mainstream coins. Taking a closer look at the market: BTC and ETH haven't doubled since the start of 2024. Meanwhile, some lesser-known crypto projects have shot up by 400% and more. I am not talking about memecoins  Just today while reading an article about ONDO and ZEEBU published by Bitget, I was amazed to see the incredible growth these two tokens have undergone in the past few months. While ONDO deals with tokenized real-world assets, ZEEBU is a loyalty token for smoother global transactions, rewarding users along the way. Both have seen incredible growth recently. Sure, holding BTC has its perks, but tokens like ONDO and ZEEBU are gaining traction fast. They've already hit billion-dollar market caps from humble beginnings. It seems like these underdog projects might be the ones to watch during this bullish phase. But the challenge remains: how do we identify gems in this evolving landscape?
    • Dopamine emerges as a beacon of innovation in the world of cryptocurrency management, offering a non-custodial, secure, and anonymous mobile app wallet. With over two million downloads and a robust user base, Dopamine is reshaping the landscape of decentralized finance (DeFi) on both Android and iOS platforms. Let's delve into the features and functionalities that make Dopamine a must-have tool for navigating the cryptocurrency market. Key Features: 1. Comprehensive Portfolio Tracking: Dopamine's native token, $DOPE, empowers users to monitor their favorite projects from a vast collection of over 10,000 coins, ensuring informed decision-making in the dynamic crypto market. 2. Enhanced Security Measures: With built-in Anti-Money Laundering services, Dopamine enables users to safeguard their assets by identifying potential fraud and assessing risk scores associated with their wallets. 3. Real-Time Market Insights: Stay ahead of the curve with Dopamine's ability to track market trends and identify coins making significant moves, ensuring users remain informed and proactive in their investment strategies. 4. Cross-Chain NFT Transactions: Seamlessly send and receive NFTs across various blockchains, including Ethereum, BSC, Fusion, and more, providing users with unparalleled flexibility and interoperability. 5. Efficient Information Management: Dopamine simplifies data management by allowing users to save essential information and access it instantly, streamlining their crypto journey with convenience and ease. 6. Convenient Fiat On-Ramp: Facilitating seamless transactions, Dopamine enables users to buy crypto directly from their credit or debit card within the app, eliminating the need for multiple platforms and intermediaries. 7. DeFi Gaming Integration: Dive into the exciting world of decentralized finance gaming with Dopamine, offering users access to a diverse range of DeFi games directly from the app, adding a touch of entertainment to their crypto experience. With its innovative features, commitment to user empowerment and upcoming listing on Bitget exchange, Dopamine stands as a revolutionary platform that caters to the diverse needs of cryptocurrency enthusiasts. As the cryptocurrency market continues to evolve, It remains at the forefront, providing users with a secure, versatile, and intuitive solution for managing their digital assets and exploring new horizons in decentralized finance.
    • Name of stock: Adventus Mining Name of Stock Exchange: TSX Leverage or Share dealing: Share dealing Ticker: ADZN Country of stock: Canada
×
×
  • Create New...
us