Please find below information regarding relevant fees for Axiatrade clients.
1. Withdrawal FeesNotwithstanding the aforesaid table, in the following circumstances the Company reservesthe right to charge a withdrawal fee at an amount equal to 100 USD (or the equivalent amountaccording to the denominated currency of the Client’s Trading Account):
a. If there is insignificant (one single position placed on the Trading Account only) orno trading activity in the Client’s Trading Account prior to the submission of thewithdrawal request.
b. If the Client fails to provide to the Company accurate and/or necessary and/oradequate information/documentation for the verification of his/her/its identityand/or address as may be requested from time to time by the date of submittinga withdrawal request.
c. If the Company decides to process a refund to the Client due to his/her/its failureto provide to the Company accurate and/or necessary and/or adequateinformation/documentation for the verification of his/her/its identity and/oraddress as may be requested from time to time and/or for any other reason theCompany deems necessary.
2. Inactivity/Dormancy FeesFees may be payable by you by virtue of the fact that the Trading Platform is continuallyprovided to you for trading, regardless of your actual use. If there are no transactions (deposits,withdrawals or trading activity) on your Trading Account for a period of at least one (1) monthor more, the Company reserves the right, to charge a monthly inactivity fee on your TradingAccount, in return for the provision of the continued availability of your Trading Account. Youagree that you are liable to and will pay the applicable fee as notified to you from time to timeand that we may deduct such fee from any funds held by us on your behalf. The monthlyinactivity fee shall increase as the total period of inactivity increases. The exact fee schedulewill be calculated according to the currency denomination of your Trading Account and is setout as follows or as changed by the Company from time to time and notified to the Client:
In the event of inactivity, the Company reserves the right to deduct the full amount of all active bonus(es) from the current balance of the account along with all profits related to the bonus(es) issued by the Company.
3. Spread InformationSpread is the difference between the bid (sell) and ask (buy) price. The difference is presentedin pips and reflects the cost of opening a position and vary depending on the instrument. Youwill be able to find the value of a pip across all of our instruments, by accessing the TradingPlatform through your account with the Company.
4. Overnight FeesOvernight Fees are added or deducted from the value of your position and is only chargedwhen a position is held open overnight. The operation is conducted at 00:00 (GMT+2 DST off)and the resulting amount is automatically converted into your Balance Currency.The Overnight Fees are calculated once for each day of the week that a position is rolled overwith the exception of Friday, when it is charged 3 times to capture the weekend OvernightFees which are charged in advance (i.e 7 Overnight Fees in 5 trading days). It is understoodthat during the first 7 days of opening of the first position, there are no overnight fees chargedon any positions. On the 8th day after the opening of the first position, the Company will startcharging the overnight fees. You will be able to find the value of the Overnight Fees chargedfor each instrument by accessing the Trading Platform through your account. Fees may changequickly due to market conditions (changes in interest rates, volatility, liquidity etc.) and dueto various risk related matters that are at Company’s sole discretion.
5. Commodity and Index Rollover Information and CalculationWhen a futures contract approaches its expiry date, Axiatrade will rollover all openpositions to the next tradable contract at the time specified in the CFD rollover date sectionof our Trading Platform. Rollover dates are unique to each type of contract being traded andvary in duration. Clients with open positions who do not wish to have their positions rolledover onto the next contract should close their positions before the schedule Rollover (Rolloverdates are available to the Clients in Help section in our Website, in the “Do futures CFDs expire,and if so, when” section).Clients will incur the same fees as closing an old contract and opening a new one manually.The fee includes the spread cost of closing the old contract and opening a new contract plusthe overnight interest charge (These are the Overnight Fees long and Overnight Fees shortamounts indicated on the asset specifications).In most cases, the rate (bid/ask prices) of the new contract will be different from the oldcontract. Therefore, the company takes necessary precautions in order for the client not to beburdened with the price difference on his new position. Consequently, a rollover adjustmentwill occur automatically on client’s account to ensure both the client and the company did notbenefit or disadvantaged from the rollover.In order to calculate the rollover adjustment amount, the rate of the old contract and the newcontract will be used at exactly the same time before contract expires. Consequently, the pricedifference between contracts and the spread will be accounted for. The resulting rolloveramount will be then debited or credited to the clients account as a rollover adjustment. Thecalculation is as follows:
(Volume1 *- (Bid price (new contract) – Bid price (old contract))) + (Volume * – Spread) * Conv. Rate2
(Volume * (Ask price (new contract))– Ask price (old contract))) + (Volume * -Spread) * Conv. Rate
Volume = Lots * Contract size
All Rollover Adjustments are calculated in the currency the Instrument is denominated in. If an
account is denominated in a different currency the system will automatically convert this to the