Fee revision in Swap Free Accounts
IMPORTANT: Please note that the holding fee/overnight fee may not apply to your account. For more information, please contact our customer service team.
From the 15th of April, there will be a new Holding Fee imposed on ALL swap-free eligible symbols that are held open beyond a 5 calendar day grace period. This means you continue to receive our great swap free terms up to and beyond 5 days but from the 6th day onwards there will be a daily Holding Fee charge for trades older than 5 days.
The following tables specify which Swap Free Account symbols receive the 5 calendar day swap free grace period and the daily Holding Fee applied after the grace period.
Fees are quoted in USD Per 1 Lot of a Standard Contract and will be applied pro-rata in your Account Currency equivalent.
MARGIN FOREX (FX)
BULLION SPOT CFDs
CASH CFDs
CRYPTOCURRENCY CFDs
FAQs
Why is Axi introducing an overnight holding fee on swap-free accounts?
The fee was carefully planned by the Axi team in order to maintain a competitive swap-free account offering and offset additional costs.
Is the overnight holding fee a swap?
No. The new fee is charged to you regardless of direction and is not aligned to the underlying market swap and interest charges or benefits.
If I hold a position for under 5 days, do I pay an overnight holding fee?
There is a 5-day grace period, which means that the fee is only applicable from day 6 and onwards only.
If I hold a position for under 8 days do I pay any Swap of Holding fees?
Yes. For the first 5 days of the positions, there will be no Holding Fee however a daily Holding Fee will be charged from the 6th and 7th day but not on the 8th day if you close it on that day.
Some examples of the Pro Rata application of the fees are the grace period below fees
Long XAUUSD 1 Lot held for 8 days.
The 6th day and 7th day are charged USD20 per day x 1 Lot = USD 20 Per day and a total of USD 40.00 over the 2 chargeable days.
Short GBPUSD 2.5 Lots held for 7 days
The 6th day is charged per day USD 7.50 per day x 2.5 Lots resulting in a total of USD 18.75 for the one chargeable day.
Long BTCUSD 0.01 Lots held for 9 days
The 6th, 7th, and 8th day are charged USD 25 per day x 0.01 Lots = USD 0.15 per day and a total of USD 0.75 over the 3 chargeable days.
Will the overnight holding fee change?
The fee is generally fixed. However, we’ll assess it on a regular basis to make sure it’s fair. We expect changes to be rare and we’ll communicate to you if we need to make a change.
Will I be backcharged for positions opened prior to the new fee’s start date?
No, you will not be backcharged. However, from Monday 15 April 2024, any trades older than 5 days will start to incur a daily fee.
Will I be charged if my positions are hedged?
Yes, the fee will be applied to both long and short positions irrespective of whether the position is partially or fully hedged.