Yes, kindly note that financing charges, rollover, and overnight charges are applied to Contracts.
In conclusion, kindly be informed that financial charges and/or overnight charges are applied for holding CFDs including Index Cash, Shares, Commodities, Cryptocurrency CFDs, and other contract types.
For Futures CFDs, there are no overnight charges - rollover fees will apply instead. There is a cost incurred when rolling Future CFD contracts. This cost is equal to the value of the Bid-Offer spread in the Axi price.
A rollover arises when the underlying instrument of the Axi product is due for expiry and Axi switches its price source to the next serial Futures contract. Because the next serial Futures contract will trade at a higher or lower price when compared to the expiring Futures contract, the change will result in a profit or loss on an Axi account. The swap fee applied by Axi adjusts for this revaluation, but contracts that are rolled over still incur the cost of the Bid-Offer spread.
To minimize the Bid-Offer spread, Axi typically switches to the next serial contract 1-2 trading days before the underlying instrument’s last trading day, a period when liquidity can be limited and extreme price fluctuations can occur.