지수

Trading Conditions & Charges

용어 설명

거래상품 – 외환 통화쌍 또는 거래할 CFD 상품의 기초자산입니다.
국가 – 주식 또는 채권의 소재 국가입니다.
랏 크기 – 각 플랫폼에서 거래되는 랏 크기 (참고: Ava Trader 랏 크기는 거래 가능한 최소 랏 크기를 나타냅니다. MT4는 표준 랏 크기를 나타냅니다).
표준 스프레드 – 정상적인 시장 조건에서 각 상품의 매수 호가와 매도 호가의 차이입니다.
레버리지 – 더 큰 자본으로 거래하기 위해 증거금을 사용하는 것을 말합니다. 레버리지는 수익뿐만 아니라 손실도 크게 증가시킬 수 있습니다.
랏당 증거금 – 각 상품의 단일 랏을 개설하는 데 필요한 증거금입니다(참고: 금액으로 표시됨).
포인트 – 각 상품의 가격이 움직이는 최소 단위입니다.
오버나이트 이자 매도/매수 – 각 상품에 대한 일일 % 단위로 표시되며 입금/차감되는 롤오버 이자입니다.
거래 시간 – 지정된 상품에 대해 거래할 수 있는 시간입니다.
월간 호가 – AvaTrade가 플랫폼에서 호가로 제시하는 선물 계약의 월입니다.
교환 – 기초 자산의 교환입니다.
단위 – 각 랏 크기가 호가로 표시되는 단위입니다.

위험 경고:
마진 거래는 높은 수준의 위험을 수반하므로 일부 투자자에게 적합하지 않을 수 있습니다.

거래 수수료:
이 웹사이트/플랫폼에서 이루어지는 모든 거래에는 다음과 같은 잠재적 수수료가 부과됩니다:

스프레드
오버나이트 이자
만기 롤오버
기업 활동
비활성화 수수료

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FX

FX Spread Calculation

The FX Trading Conditions display the Standard Bid-Ask Spread (Pips) for FX Instruments unless otherwise stated. Standard Spreads are as stated under Normal Market Conditions. Spreads can widen depending on market conditions

Spread Cost Formula: Spread x Trade Size = Spread Charge in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2 USD/JPY, EUR/USD, etc.)

Example

For a 1,000 EUR/USD Trade, with a Spread of 3 pips (0.0003), the calculation is as follows:

0.0003 X 1,000 = $0.30*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

FX Margin/Leverage Calculation

All Instruments are traded on Margin allowing you to Leverage your positions. The FX Trading Conditions display both Margin & Leverage Amounts; Margin is displayed as a Percentage (%) while Leverage is displayed as a Ratio.

Percentage Margin Formula: Trade Size x Margin (%) = Margin Required in Primary Currency*

Leverage Margin Formula: Trade Size / Leverage = Margin Required in Primary Currency*

*Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example

For a 1,000 EUR/USD Trade, with a Margin Requirement of 0.50% or Leverage of 200:1, the calculation are as follows:

Percentage Margin Requirement: 1,000 x 0.005 = €5.00

*Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

FX Buy/Sell Overnight Interest Calculation

The FX Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past our End of Day time. These rates are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Daily Overnight Interest amount

Trade Amount x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

*Overnight Interest Charged/Paid will be calculated in the Primary Currency; Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.

Example

For a 1,000 EUR/USD Trade, with a Daily Overnight Interest Buy (or Sell) rate of -0.0053% and subject to a charge for 1 day, the calculation is as follows

1,000 x -0.000053 = -0.053 = -€0.05* rounded

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

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COMMODITY MATURITIES AND ROLLOVERS

Commodities Spread Calculation

The Commodities Trading Conditions display the Standard Bid-Ask Spread OR ‘Spread Over Market’ for Commodity Instruments unless otherwise stated. Standard Spreads are as stated under Normal Market Conditions while the ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.

Example

For a 10 barrel Crude Oil Trade, with a Spread of 4 pips ($0.04), the calculation is as follows:

0.04 X 10 = $0.40*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

Commodities Margin Calculation

All Instruments are traded on Margin allowing you to Leverage your positions. The Commodities Trading Conditions display Margin Amounts as a Percentage (%).

Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*

* Margin Required is calculated in the Currency the Instrument is Denominated in.

Example

For a 10 barrel Crude Oil Trade, with a Market Price of $98.00 and a Margin Requirement of 1.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 98 x 0.01 = $9.80*

Commodities Buy/Sell Overnight Interest Calculation

The Commodities Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Overnight Interest amount:

Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example

For a 10 barrel Crude Oil Trade, with an End of Day Market Price of $50.00 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:

10 x 50.00 x -0.000028 = -0.014 = -$0.01* rounded.

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

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주가지수

주가지수 스프레드 계산

The 주가지수 거래 조건에는 달리 명시되지 않는 한 주가지수 상품에 대한 ‘시장 대비 스프레드’가 표시됩니다. ‘시장 대비 스프레드’는 현재 시장 스프레드에 AvaTrade가 추가하는 마크업입니다.

스프레드 비용 공식: 스프레드 x 거래 규모 = 통화상품의 스프레드 비용으로 표시됩니다.

예시 1

스프레드가 75핍($0.75)인 1 지수 US500 거래의 경우 계산은 다음과 같습니다:

0.75 X 1 = $0.75*

AvaTrade는 별도의 명시된 경우를 제외하고 매수-매도 스프레드를 통해 보상을 받습니다.

AvaTrade는 모든 거래에 수수료를 부과하지 않습니다.

주가지수 마진 계산

모든 상품은 마진으로 거래되므로 포지션을 레버리지할 수 있습니다. 주가지수 거래 조건은 마진 금액을 백분율(%)로 표시합니다.

퍼센트 마진 공식: 포지션 규모 x 현재가 x 증거금(%) = 필요 증거금*

* 필요 증거금은 상품이 표시된 통화로 계산됩니다.

예시

시장가격이 $1400이고 증거금 요구량이 0.50%인 S&P500 거래 기준 1 지수 US500의 경우 계산식은 다음과 같습니다:

증거금 요건 백분율: 1 x 1, 400 x 0.005 = $7.00*

주가지수 매수 매도 오버나이트 이자 계산

주가지수 거래 조건에는 장 마감 시간 이후 포지션 보유에 대해 매일 부과/지급되는 오버나이트(O/N) 이자율이 표시됩니다. 이는 “오버나이트 이자 – 매수” 및 “오버나이트 이자 – 매도” 열에 표시됩니다. 일의 끝은 21:00 GMT로 변경되는 서머타임을 제외하고 22:00 GMT입니다.

다음 공식을 사용하여 오버나이트 이자 금액을 계산할 수 있습니다:

거래 규모 x 일말 시장가 x 일일 오버나이트 이자 = 일일 오버나이트 이자 청구/지급액*

*청구/지급된 오버나이트 이자는 상품이 표시된 통화로 계산됩니다.

예시

장 마감 시장 가격이 $2000이고 일일 오버나이트 이자 매수(또는 매도) 비율이 -0.0028%이고 1일 동안 요금이 부과되는 1 지수 US500 거래의 경우 계산은 다음과 같습니다:

1 x 2,000 x -0.000028 = -0.056 = -$0.06* 반올림.

참고: Ava Trade 플랫폼은 오버나이트 이자(스왑)를 연간 단위로 표시합니다.

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INDIVIDUAL EQUITIES

Individual Equities Spread Calculation

The Individual Equities Trading Conditions display the ‘Spread Over Market’ for Individual Equity Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.

Example

For a trade of 1 APPLE share, with a Spread of 12 pips (0.12), the calculation is as follows:

0.12 X 1 = $0.12*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

Individual Equities Margin Calculation

All Instruments are traded on Margin allowing you to Leverage your positions. The Individual Equities Trading Conditions display Margin Amounts as a Percentage (%).

Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*

*Margin Required is calculated in the Currency the Instrument is Denominated in.

AVA may double margin requirements on specific stocks prior to earnings release. This is a preventative measure to avoid clients with large exposures in the said equity, falling into negative equity.

Example

For a trade of 1 APPLE share with a Market Price of $500 and a Margin Requirement of 5.00%, the calculation is as follows:

Percentage Margin Requirement: 1 x 500 x 0.05 = $25.00*

Individual Equities Buy/Sell Overnight Interest Calculation

The Individual Equities Trading Conditions display the Over-Night Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Overnight Interest amount:

Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

* Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example

For a trade of 1 APPLE share, with an End of Day Market Price of $140 and a Daily Overnight Interest Buy (or Sell) rate of -0.0083%, and subject to a charge for 1 day, the calculation is as follows:

1 x 140 x -0.000083 = -0.012 = -$0.01* rounded.

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

Individual Equities Corporate Actions & Calculation

Individual Equities may at some stage partake in a Corporate Action; these can include Dividends, Rights Issues, Stock/Reverse Splits, Mergers, Acquisitions, Takeovers etc.

Dividends: For any individual equity on the AVATRADE trading platforms that declares a dividend, AVATRADE will make an Adjustment to every account that holds said equity, at the end of the cum-dividend day. This will be one day before the ex-dividend day.

The adjustment made to accounts will be:

1. Long Positions will be Credited with 100% of the Gross dividend.

(Amount of Shares x Gross Dividend) x 1.00

2. Short Positions will be Debited with 100% of the Gross dividend.

(Amount of Shares x Gross Dividend) x -1

Note: There are no other costs to clients in relation to Dividends.

Example

For a trade of 1 APPLE share, with a GROSS Div. of $1.00, the calculation is as follows:

Long Position: (1 x 1.00) x 1.00 = 1.00 x 1.00 = +$1.00

Short Position: (1 x 1.00) x -1 = 1.00 x -1 = -$1.00

For ALL other Corporate Actions: Rights Issue, Stock/Reverse Splits, Mergers, Acquisitions, Takeovers etc, and as these actions can happen suddenly and without prior knowledge.

Note: There are no costs to clients in relation to these other Corporate Actions.

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BONDS

Bonds Spread Calculation

The Bonds Trading Conditions display the ‘Spread Over Market’ for Bond Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.

Example

For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Spread of 5 pips (0.05), the calculation is as follows:

0.05 X 10 = $0.50*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

Bonds Margin Calculation

All Instruments are traded on Margin allowing you to Leverage your positions. The Bonds Trading Conditions display Margin Amounts as a Percentage (%).

Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*

* Margin Required is calculated in the Currency the Instrument is Denominated in.

Example

For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Market Price of $124.50 and a Margin Requirement of 1.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 124.50 x 0.01 = $12.45*

Bonds Buy/Sell Overnight Interest Calculation

The Bonds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy “and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Overnight Interest amount:

Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example

For a 10 Bond 5 Year US T-NOTES Trade, with an End of Day Market Price of $150 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:

10 x 150 x -0.000028 = -0.042 = -$0.04* rounded.

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

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EXCHANGE TRADED FUNDS

Exchange Traded Funds Spread Calculation

The Exchange Traded Funds Trading Conditions display the ‘Spread Over Market’ for Bond Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.

Example

For a trade of 10 Financial Select Sector SPDR shares, with a Spread of 6 pips (0.06), the calculation is as follows:

0.06 X 10 = $0.60*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

Exchange Traded Funds Margin Calculation

All Instruments are traded on Margin allowing you to Leverage your positions. The Exchange Traded Funds Trading Conditions display Margin Amounts as a Percentage (%).

Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*

* Margin Required is calculated in the Currency the Instrument is Denominated in.

Example

For a trade of 10 Financial Select Sector SPDR shares, with a Market Price of $18.50 and a Margin Requirement of 5.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 18.50 x 0.05 = $9.25*

Exchange Traded Funds Buy/sell Overnight Interest Calculation

The Exchange Traded Funds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

You can use the following formula to calculate your Overnight Interest amount:

Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example

For a trade of 10 Financial Select Sector SPDR shares, with an End of Day Market Price of $24.00 and a Daily Overnight Interest Buy (or Sell) rate of -0.0083%, and subject to a charge for 1 day, the calculation is as follows:

10 x 24.00 x -0.000083 = -0.019 = -$0.02* rounded.

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

Exchange Traded Funds Corporate Actions & Calculations

Exchange Traded Funds (ETF’s) may at some stage partake in a Corporate Action; these can include Dividends, Rights Issues, Stock/Reverse Splits, etc.

Dividends: For any ETF on the AVATRADE trading platforms that declares a dividend, AVATRADE will make an Adjustment to every account that holds said equity, at the end of the cum-dividend day. This will be one day before the ex-dividend day.

The adjustment made to accounts will be:

1. Long Positions will be Credited with 90% of the Gross dividend.

(Amount of Shares x Gross Dividend) x 0.90

2. Short Positions will be Debited with 100% of the Gross dividend.

(Amount of Shares x Gross Dividend) x -1

Note: There are no other costs to clients in relation to Dividends.

Example

For a trade of 10 Financial Select Sector SPDR shares, with a GROSS Div. of $1.00, the calculation is as follows:

Long Position: (1 x 1.00) x 0.90 = 1.00 x 0.90 = +$0.90

Short Position: (1 x 1.00) x -1 = 1.00 x -1 = -$1.00

For ALL other Corporate Actions: Rights Issue, Stock/Reverse Splits, etc. and as these actions can happen suddenly and without prior knowledge, Open Positions and Orders will be Closed/Removed at the end of the cum-action day at market price on the particular equity.

Note: There are no costs to clients in relation to these other Corporate Actions.

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AVA OPTIONS

Fx Spread Calculation

The AVAOPTIONS Trading Conditions display the Typical Bid-Ask Spreads (Pips) for Instruments (Spot Spread) as well as for Options on the Instruments (Option Spread). Standard Spreads are as stated under Normal Market Conditions. Option spreads are based on 1-month at-the-money options.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example

For a 10,000 EUR/USD Spot Trade, with a Spread of 2.1 pips (0.00021), the calculation is as follows:

0.00021 X 10,000 = $2.10*

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated. AvaTrade does not charge commissions on any trade.

Option Premium Calculation

The AVAOPTIONS Trading Platform allows traders to buy and sell options on Instruments, typically FX pairs, as shown in the Trading Conditions.

When purchasing an option, the cost of the option (also called the Option Premium) is deducted from the account cash balance, using free available cash. Free available cash is the cash balance that is in excess of the Required Margin.

When selling an option, the cash proceeds of the sale are immediately credited to the account cash balance. If writing an option (selling an option short), any required margin must be met from free available cash.

If the account does not have sufficient free available cash to meet the required margin, the trade will not be executed.

Option Premium is quoted in Price of the Second Currency.

Option Premium Formula: Price x Trade Size = Cost in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example

For a 10,000 EUR/USD CALL OPTION offered at 0.00560, the calculation is as follows:

0.00560 X 10,000 = USD 56.00

If the Account Currency is not the same as the Second Currency, the Option Premium will be immediately converted into the Account Currency at the prevailing spot rate, which can be found in the Open Positions window.

AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.

AvaTrade does not charge commissions on any trade.

Avaoptions Margin Calculation

The AvaOptions platform calculates required margin using one of two methods, depending on the underlying instrument.

For equity index options, margin uses a simplified exchange margin model. Margin = Margin Rate x Index price x (Total Spot Quantity + Total Short Options Quantity) + Total Option Premium received.

Example 1: Account has sold 30 US500CASH Puts at $6.00 for total premium $180 at a margin rate of 1.5%, with the index trading at 4100. Margin = 1.5% x (30 x 4100) + 180 = $2025.
Example 2: Account has sold 30 US500CASH Calls at $7.50, and also has a long position in 10 US500CASH Spot, Margin = 1.5% x (40 x 4100) + 225 = $2685.

Note that the margin rate for Spot can be different than the margin rate for Options. If an account combines Spot and Options positions in the same underlying, the Spot margin rate is used for both.

For trades in other instruments such as FX and Gold and Silver, margin is set according to the riskiness of the portfolio, applying standardized stresses to each currency pair using a system known as SPAN, for Standardized Portfolio Analysis.

We divide customer portfolios by currency pair, and evaluate portfolio values for each currency pair under 16 scenarios:

	Underlying Price	Volatility	% of Risk
1	Down Margin%	Up	100%
2	Down Margin%	Down	100%
3	Down 2/3 Margin%	Up	100%
4	Down 2/3 Margin%	Down	100%
5	Down 1/3 Margin%	Up	100%
6	Down 1/3 Margin%	Down	100%
7	Unchanged	Up	100%
8	Unchanged	Down	100%
9	Up 1/3 Margin%	Up	100%
10	Up 1/3 Margin%	Down	100%
11	Up 2/3 Margin%	Up	100%
12	Up 2/3 Margin%	Down	100%
13	Up Margin%	Up	100%
14	Up Margin%	Down	100%
15	Up 2 * Margin%	Unchanged	35%
16	Down 2 * Margin%	Unchanged	35%

Scenarios 1-14 evaluate the portfolio with volatilities higher and lower at seven spot levels. For a currency pair with a spot margin requirement of 1%, the spot levels are -1%, -.67%, -.33%, Unchanged, +.33%, +67%, and +1%.

Scenarios 15 and 16 move spot up and down by double the margin requirement (e.g. 2%), and take 35% of the observed portfolio change as risk. These scenarios are designed to capture risk of options that are further out of the money, without impacting margin for spot positions.

The greatest portfolio loss observed in these 16 scenarios is taken as margin for that currency pair. The sum of margin for each currency pair is the total Required Margin.

One may note that for a portfolio of spot positions, the margin under SPAN is equal to the Margin% times the total spot position, identical to most spot trading platforms, and neither implied volatilities nor scenarios 15 and 16 have any impact.

Each option’s implied volatility is moved up and down according to the following formula:

Vol Shift = Volatility Factor X Max( Implied Vol, Minimum Vol)

Implied Vol = the current mid-market implied volatility of the option

Minimum Vol = 10%

Table of Volatility Factors:

Days to Expiration	G10	EM
7	31%	41%
14	22%	29%
30	15%	20%
90	9%	12%

For example, a 2 week G10 option implied volatility is shifted +/- 22%, with a minimum move of 2.2 vol. For a 6 month option, vol is bumped +/- 9%, with minimum move of 0.9 vol.

The Volatility Factor normalizes volatility of volatility, as a 1 week option’s implied volatility can move more drastically than can that of a 1 year option. Its math is as follows:

Volatility Factor = SQRT( 30/ADTE ) * Reserve ADTE = Days to Expiration, with minimum of 7 and maximum of 90. Reserve = 15% for G10 currency pairs, and 20% for pairs including one or more emerging market currencies.

Fx Buy/sell Overnight Interest Calculation

The AVAOPTIONS Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a spot position or other instrument open past our End of Day time. These rates are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Overnight Interest is not charged for any options positions.

You can use the following formula to calculate your Daily Overnight Interest amount using the published rates:

Trade Amount x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*

*Interest Charged/Paid will be calculated in the Primary Currency; Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example

For a 10,000 EUR/USD Trade, with a Daily Overnight Interest Buy (or Sell) rate of -0.0053% and subject to a charge for 1 day, the calculation is as follows:

10,000 x -0.000053 = -€0.53

Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.

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INACTIVITY AND ADMINISTRATION FEES

Inactivity Fee

Customer acknowledges that the Customer’s trading account may be subject to an inactivity fees unless prohibited by law. After 3 consecutive months of non-use (“Inactivity Period”), and every successive Inactivity Period, an inactivity fee will be deducted from the value of the Customer’s trading account. This fee is outlined below and subject to client relevant currency based account:

Inactivity Fee:

USD Account: $50
EUR Account: €50
GBP Account: £50

Applicable fees subject to change periodically.

Administration fee

Customer acknowledges that the Customer’s trading account may be subject to an annual administration fee unless prohibited by law. After 12 consecutive months of non-use (“Annual Inactivity Period”), an administration fee will be deducted from the value of the Customer’s trading account. This fee is outlined below and subject to client relevant currency based account: This is to offset the cost incurred in making the service available, even though it may not be used.

Administration Fee:

USD Account: $100
EUR Account: €100
GBP Account: £100

Applicable fees subject to change periodically.

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Trading Conditions:

Spread

All Spreads are Over Market.
FX Standard Spreads are as stated under Normal Market Conditions.
FX Pairs may not be tradable shortly before and after End-of-Day (22:00 GMT or 21:00 GMT during US DST) – due to liquidity constraints during the Interbank settlement period
Gold & Silver spreads may be wider than stated from approx 22:00 – 02:00 GMT.
Crude & Brent Oil spreads may be wider than stated from approx 22:00 – 05:00 GMT.
Crude Oil & Natural Gas spreads may be wider during Weekly Inventories.
PIP FX Pairs = 0.0001; 1 PIP JPY FX Pairs = 0.01.
Typical Spreads are an indication only and may widen due to volatile market conditions
Typical Spreads are derived from the median value of the respective spreads during trading hours (07.00-18.00 GMT) from a previous quarter.
FX Option Spreads show typical bid-offer spreads for 1-month at-the-money options under normal market conditions.
FX Options can be traded online up to 24 hours prior to their expiration.
FX Options expire at the times indicated in the platform, which correspond to 10:00am New York time.
All FX Options are European style vanilla options. At expiration, all in-the-money options will be automatically closed at intrinsic value.
Crude Oil Monthly Futures positions are closed at expiry – they are not rolled onto the next contract
Crude Oil Monthly Futures may be set to ‘Close-Only’ in advance of expiry
Trading Hours may change due to Daylight Savings Time.

Overnight Interest Rates:

All Overnight Interest Rates are indicative and subject to change.
MT4 FX, Gold & Silver Positions: Saturday/Sunday Overnight Interest will be Debited/Credited on the Wednesday before.
MT4 Non-FX (excl. Gold & Silver) Positions: Saturday/Sunday Overnight Interest will be Debited/Credited on the Friday before.

Margin:

Margin requirements can increase based on position size, news release and/or volatility.
If an Options account has open positions in both the underlying instrument (e.g. Spot EUR/USD) and Options on the instrument (e.g. Short Call on EUR/USD), the lower leverage (higher margin rate) will apply to all spot and option positions in that instrument.

Trade Size:

MetaTrader Minimum Nominal Trade Size = 0.01
Fractional share size (0.001 Lot) available for selected shares on MT5 Platform.

Crypto Currencies:

BTCUSD, BTCEUR, BTCJPY, BCHUSD, ETHEREUM, XRP(RIPPLE), LITECOIN Mini, BTGUSD, DASH, Stellar (XLMUSD) – Trading is 24/7 for MetaTrader accounts.
Cryptocurrency spreads can be volatile and depend on current market conditions.
Margin Requirements on Crypto pairs may increase during periods of volatility.
Crypto Currency trading is not available on Islamic accounts.

Please note: As per regulation guidelines, Cryptocurrencies trading is prohibited for all UK based clients except professional traders.

Please Note: Due to platform maintenance and downtime on the Crypto exchanges, Crypto pairs may be un-tradable for short periods over the weekends.

Max Positions Limits (Per Customer)

BTC Pairs = $1M Max*
ETH = $750K Max*
XRP = $100K Max*
BCH, LTC = $200K Max*
BTGUSD, STELLAR, EOS, NEO, MIOTA, DOGECOIN, SHIBA, SOLANA, POLYGON = $50K Max*
DASH = $10K Max*
Palladium = $400K Max*
CRYPTO10, CANNABIS_IN = $100K Max*
Crypto Assets’ limit of $1.5M
TRY Pairs = $1M Max
Silver Future Contracts = $1M Max

* Maximum Position Limits may be reduced during periods of volatility.
* Position Limits may be introduced on any security during periods of volatility.

* Margins may be increased on any instrument, without prior notice, outside normal market conditions

AvaTrade reserves the right to cancel any excess trades or exposures that exceed the outlined threshold limits, all cancelled trades will be closed at their opening rates.

AvaTrade reserves the right to modify its threshold limits, affected clients will be notified in advance and may be required to reduce their exposure.

Your access to and use of the website and/or platform constitutes your acceptance of these Trading Conditions and any other legal notices and statements contained on same. Ava may modify these Trading Conditions at any time and without prior notice. Your continued access to and use of the website and/or platform constitutes your acceptance of these Trading Conditions as modified.