Costs and Associated Charges
This page of our website provides information about the costs and associated charges applicable when trading CFDs with GWTrade. The description of each cost, the methodology used for the calculation of the fees and scenario-based examples can be found in the following sections of this page in order to understand how the fees apply to your account in practice.
*This section is applicable to Retail and Professional Clients. There is no discrimination in the fee calculation methodology between client categorisation.
NOTE: Total trading costs increase proportionally to the volume of the transaction; the higher the trading volume, the higher the cost.
1. Costs and associated charges for the provision of Investment and Ancillary Services
| Spread | 'Spread' is the difference between the Sell ("Bid") and Buy ("Ask") price of a particular instrument. The spread that the Company charges you reflects, in part, the spread of the underlying exchange where the underlying asset is traded on, plus a mark-up depending on the trading account type and product. Our spreads are variable and subject to charge upon market conditions. |
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| Commission | '/Commission/' is the amount charged when Client enters a CFD transaction and is based on the account type and the notional value of the trade. The total commission fee is charged at the opening of the transaction for both sides at once (opening and closing). |
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Overnight Financing Fee (Swaps)
'Overnight Financing/Swap' is the fee charged for all positions held open overnight at the end of the daily trading session (22:00GMT and 21:00GMT during DST) and may be subject to credit or debit depending on the prevailing market. The Company applies a 3-day rollover strategy on Wednesday for all positions held open on FX , Energies and Metals, a 3-day rollover strategy on Thursday for all positions held open on Cryptos and 3-day rollover strategy on Friday for indices. Tripled Swap Explanation: This is an industry standard and is due to the T+2 settlement date of financial instruments to cover the charges incurred by the interbank market over the weekend. Please refer to our website for more information on the swap values.
The swap values are received from the Company's Execution Venues.
Currency Conversion'Currency Conversion for trading' is the exchange rate necessary for converting any realised profits/losses and/or other trading fees when the Client's account currency is different from the quoted currency of the underlying asset being traded. The Company does not apply additional fees for this type of cost. The amounts are converted automatically at the prevailing market prices. 'Currency Conversion for internal transfer' This conversion fee applies only when Clients are transferring funds between accounts with different base currency. Transferring of funds between accounts with different base currency, is subject to exchange rate conversion. The conversion rate used is the ECB reference rate at the date of the transfer.
N/A
Up to 1.5% charge on top of the ECB reference rate
Inactivity Fee: Inactivity fee of €/$ 25 applies only to accounts that remain inactive for a period of 3 months (90 calendar days).
Following that date, the Company reserves the right to charge an inactive/dormant fee of €50 for every month of inactivity for every customer’s account. No fees apply when the free balance equals to zero.
2. Account Types
| Spread= (Bid Price – Ask Price) × Volume × Contract Size |
| Swap Fee= Swap Long/short Points × Volume × Contract Size × Point Size* × Days |
| *The point size depends on the decimal digits of each CFD Instrument. |
| Point Size for 5 decimal digits = 0.00001 |
| Point Size for 3 decimal digits = 0.001 |
| Point Size for 2 decimal digits = 0.01 |
| Point Size for 1 decimal digits = 0.1 |
| Convesrion fee= market exchange rate + fee |
| Account Currency | EUR |
| Account Type | GWTrade PROF |
| BID/ASK Price | 1.20352 / 1.20355 (Spread 0.3 pips) |
| Trade Size (Volume x Contract Size) | EUR 100,000 (1 Lot x EUR 100,000) |
| Swap BUY/LONG | -2.34 points |
| End of Day Exchange Rate of EUR/USD | 1.20485 |
Cost and Associated Charges:
- Spread: (1.20352 – 1.20355) x 100,000 = -USD 3.00 => -EUR 2.49
- Swap (1st Day): -2.34 x 1 x 100,000 x 0.00001 x 1 = -USD 2.34 => -EUR 1.94 (-USD 2.34/1.20485)
- Swap (2nd Day): -2.34 x 1 x 100,000 x 0.00001 x 1 = -USD 2.34 => -EUR 1.94 (-USD 2.34/1.20485)
- Swap (3rd Day – triple swap day): -2.34 x 1 x 100,000 x 0.00001 x 3 = -USD 7.02 => -EUR 5.82 (-USD 7.02/1.20485)
- Total Swap Fee = (-1.94) + (-1.94) + (-5.82) = -EUR 9.7
- Total Cost of the transaction = (-2.49) + (-9.7) = -EUR 18.19
Important Notes:
- The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).
- The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.
- For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
| Account Currency | USD |
| Account Type | GWTrade Standard USD |
| BID/ASK Price | USD 1459.72 / 1459.86 (Spread 1.4 pips) |
| Trade Size (Volume x Contract Size) | 100 ounces (1 Lot x 100 oz) |
| Swap SELL/SHORT | -3.82 points |
Cost and Associated Charges:
Spread: (1459.72– 1459.89) x 100 = -USD 14
Swap (1st Day): -3.82 x 1 x 100 x 0.01 x 1 = -USD 3.82
Swap (2st Day): -3.82 x 1 x 100 x 0.01 x 1 = -USD 3.82
Swap (3rd Day – triple swap day): -3.82 x 1 x 100 x 0.01 x 3 = -USD 11.46
Total Swap Fee = (-3.82) + (-3.82) + (-11.46) = -USD 19.1
Total Cost of the transaction = (-14) + (-19.1) = -USD 33.1
Important Notes:
The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).
The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.
For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
| Account Currency | EUR |
| Account Type | GWTrade GOLD |
| BID/ASK Price | USD 30,103.8 / 30,105.9 (Spread 2.1 pips) |
| Trade Size (Volume x Contract Size) | 1 Index (1 Lot x 1 Indices) |
| Swap SELL/SHORT | -65 points |
| End of Day Exchange Rate of EUR/USD | 1.20485 |
| EURUSD Spot | 1.20385 |
Cost and Associated Charges:
Spread: (30,103.8 – 30,105.9) x 1 (1lot * 1 contract size) = -USD 2.1 => -EUR 1.74 (2.1/(current spot EURUSD) 1.20385
Swap (1st Day): -65 x 1 x 1 x 0.001 x 1 = -USD 0.065 => -EUR 0.053 (-USD 0.065 /1.20485)
Swap (2nd Day): -65 x 1 x 1 x 0.001 x 1 = -USD 0.065 => -EUR 0.053 (-USD 0.065 /1.20485)
Swap (3rd Day – triple swap day): --65 x 1 x 1 x 0.001 x 3 = -USD 0.195 => -EUR 0.161 (-USD 0.195/1.20485)
Total Swap Fee = (-0.053) + (-0.053) + (-0.161) = -EUR
Total Cost of the transaction = (-1.74) + (-0.88) + (-0.12) = -EUR 2.74
Important Notes:
The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).
The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.
For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
| Account Currency | USD |
| Account Type | GWTrade PRO VIP |
| BID/ASK Price | USD 44,915.67 / 45064.32 (Spread 148.65 pips) |
| Trade Size (Volume x Contract Size) | 0.1 Bitcoin (0.1 Lot x 1 Bitcoin) |
| Swap SELL/SHORT | -1500 points |
Cost and Associated Charges:
Spread: (44,915.67 – 45,064.32) x 0.1 = -USD 14.87
Swap (1st Day): -1500 x 0.1 x 1 x 0.01 x 1 = -USD 1.5
Swap (2nd Day): -1500 x 0.1 x 1 x 0.01 x 1 = -USD 1.5
Swap (3rd Day – triple swap day): -6.5 x 0.1 x 1 x 0.1 x 3 = -USD -4.5
Total Swap Fee = (-1.5) + (-1.5) + (-4.5) = -USD 7.5
Total Cost of the transaction = (-14.87) + (-7.5) = -USD 22.37
Important Notes:
The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).
The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.
For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
| Account Currency | USD |
| Account Type | GWTrade GOLD |
| BID/ASK Price | 250.52 / 250.72 (Spread 2 pips) |
| Trade Size (Volume x Contract Size) | 100 (1 Lot x 100 stocks) |
| Swap BUY/LONG | -2.34 points |
Cost and Associated Charges:
Spread: (250.72 – 250.52) x 100 = -USD 20
Swap (1st Day): -2.34 x 1 x 100 x 0.01 x 1 = -USD 2.34
Swap (2nd Day): -2.34 x 1 x 100 x 0.01 x 1 = -USD 2.34
Swap (3rd Day – triple swap day): -2.34 x 1 x 100 x 0.01 x 3 = -USD 7.02
Total Swap Fee = (-2.34) + (-2.34) + (-7.02) = -USD 11.7
Total Cost of the transaction = (-20) + (-11.7) = -USD 31.7
Important Notes:
The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).
The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.
For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
| Account Currency | EUR |
| Account Type | GWTrade GOLD |
| BID/ASK Price | USD 39200.50/ 39225.50 (Spread 50 pips) |
| Trade Size (Volume x Contract Size) | 1 contract (1 Lot x 5 contract) |
| Swap SELL/SHORT | -250 |
| End of Day Exchange Rate of EUR/USD | 1.04 |
| EURUSD Spot | 1.038 |
| Cost and Associated Charges: | |
| Spread: (39200.5 – 39225.50) x 1 (1lot * 5 contract size) = -USD 25 => -EUR 24.08 (1/(current spot EURUSD) 1.038 | |
| Total Cost of the transaction = - EUR 0.96 | |
Swap (1st Day): -250 x 1 x 5 x 0.01 x 1 = -USD 12.5 -> -EUR 12.02 Swap (1st Day): -250 x 1 x 5 x 0.01 x 1 = -USD 12.5 -> -EUR 12.02 Swap (1st Day): -250 x 1 x 5 x 0.01 x 3 = -USD 37.5 -> -EUR 36.05 Total Swap Fee = (-12.02) + (-12.02) + (-36.05) = -USD 60.09 -> -EUR 57.77 Total Cost of the transaction = (-25) + (-60.09) = -USD 85.09 -> -EUR 81.81 | |
Important Notes:
- The spread and commission is one-off cost and charged upon opening of the transaction at once for both operations (open and close).The results shown in the calculation been converted from USD to EUR which is the denominated currency of the trading account.For the purpose of this example, we assume that the end of day exchange rate is the same for all days.
