Fees and Charges

Fortrade does not charge commission on trades nor does it add charges to withdrawals beyond normal bank transaction fees or processing fees originating from payment processors. Likewise, Fortrade does not have deposit or processing fees, as these come from banks and payment processors themselves.

* There are no other fees or charges related to the services or products, which Fortrade offers to its clients, except those listed below.

Once Fortrade has deemed a Client Account to be Inactive, Fortrade will be entitled to charge you an administrative fee of 10.00 USD (this amount will be charged in the account’s currency at the standard exchange rate), which represents Fortrade’s administrative cost of continuing to operate the Inactive Account (the “Inactive Account Fee”).

Fortrade will deduct the Inactive Account Fee from your Client Account balance on the day following the expiration of the Grace Period and then every month thereafter.

For the avoidance of doubt, the Client’s liability or responsibility to pay the Inactive Account Fee will cease as soon as the Client Account balance is zero.

Swap is the overnight charge/credit amount for an open position. The amount reflects the interest rate difference between the central banks (based on market rates and spreads) of the two assets involved. Swaps are credited or debited once for each day of the week, with the exception of Wednesday, on which they are credited or debited 3 times their regular amount. The swap charge is accrued daily at 20:59 GMT.

Swap charges are released on a daily basis by the financial institutions which Fortrade works with, and are calculated and determined according to various risk management criteria and market conditions. The swap premium is calculated in the following manner:

Pip Value (depending on trade size) * Swap rate in pips * Number of nights = Swap charge/credit.

Forex Example:
You open a short position (Sell) on EUR/USD for 1 lot with an account based in USD:

1 Lot = 100,000
1 Pip Value = 10 USD
Swap Rate = -3.2839 Points (equivalent to 0.32839 Pips)
Number of Nights = 1
Swap Premium: 10 * 0.32839 * 1 = 3.2839 USD

CFDs Example:
You open a long position (Buy) on Crude oil for 1 lot (1,000 barrels) with an account based in USD:

Swap Rate = -0.3807
1 Cent Value = 10 USD
Number of Nights = 1
Swap Premium: 10 * -0.3807 * 1 = -3.807 USD