Fee revision in Swap Free Accounts

IMPORTANT: The holding fee/overnight fee may not apply to your account. For more information, please contact our customer service team.

From April 15, 2024, we are making a change in our fee structure that will allow us to continue to offer you competitive swap-free accounts and a transparent trading service. For more details about the change and to see which markets it affects, please check the tables and information provided below.

The tables specify which swap-free account symbols receive the overnight holding fee after the 5-day swap-free 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 applicable from day 6 and onwards only.

If I hold a position for under 10 days, do I pay an overnight holding fee?

Yes. For the first 5 days of the positions, there will be no overnight holding fee, however a daily fee will be charged from day 6 onwards until the trade is closed.

Some examples of the Pro Rata application of the fees are the grace period are below: 

Long XAUUSD 1 Lot held for 8 days. 

The 6th 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 15 per day x 0.01 Lots = USD 0.15 per day and a total of USD 0.45 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.