Interest
All open positions are rolled-over to the next trading day automatically. Interest for these rolled-over open positions will be debited or credited to your account at an interest rate determined by market conditions and announced by us.(if there are unsettled contracts in clients' accounts after trading hours for Wednesday, clients will be debited / credited overnight interest of 3 days fro these unsettled contracts.)
Products | BUY(Dr/Cr)/Year | SELL(Dr/Cr)/Year |
---|---|---|
Spot Gold LLG | -4.00% | 1.00% |
Spot Silver LLS | -4.00% | 1.00% |
* The above interest rate provided is for reference only and might be adjusted according to market conditions.
Example One:
A client sold 1 contract of XAUUSD# at the price of 2000 and settled order on the next day. The interest rate of selling XAUUSD# was 1% per year.
Interest = Opening Price × Contract Size × Interest rate × No. of lot × days of overnight/360(days)
2000×100oz × (1%) × 1 × 1/360
Interest=5.65USD
(The customer is charged an overnight interest of US$5.65)
Example Two:
A client bought 1 1 contract of XAUUSD# at the price of 2000 and settled order on the next day. The interest rate of buying XAUUSD# was -4% per year.
Interest = Opening Price × Contract Size × Interest rate × No. of lot × days of overnight/360(days)
2000 ×100oz × (-4%) × 1 × 1/360
Interest=-22.22USD
(The customer pays overnight interest of US$22.22)
Profit and Loss Calculation:
Example
A client buys 5 XAUUSD# contracts at 1,028 USD/Oz, then settles all to take profit at 1 ,048 USD/Oz on the same day.
(1,048 - 1,028)× 100 × 5 × 7.8 = HK$78,000
Remarks: Does not include interest and handling fees
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