FXOptions
Trading Conditions & Charges
術語解釋
- 金融工具 – 用於交易的貨幣對或差價合約產品的標的資產。
- 國家 – 發行股票或債券的總部所在國。
- 手量 – 在每個平台上進行買賣的每手買賣單位(注意:Ava Trade的每手買賣數量指的是可進行交易的最低數量。MT4代表標準手)。
- 標準點差– T在正常的市場條件下,每種金融工具的標準點差報價。
- 槓桿 – 請參看前文解釋。
- 每手保證金– 在任意商品中開一手所需要的保證金(注意:使用槓桿後的交易價值)。
- 增量 – 每種金融工具價格變動的最小增量。
- 隔夜利息買入/賣出 – 每種商品每晚每手收取或支付的隔夜利息。
- 交易時間– 請參看前文解釋。
- 報價月份– Ava Trade 在我們的平台上對期貨合同報價的月份。
- 交換 – 標的資產的交換。
- 單位 – 每手買賣量的報價單位。
商品
The Commodities Trading Conditions display the Standard Bid-Ask Spread OR ‘Spread Over Market’ for Commodity Instruments unless otherwise stated. Standard Spreads are as stated under Normal Market Conditions while the ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
Example
For a 10 barrel Crude Oil Trade, with a Spread of 4 pips ($0.04), the calculation is as follows:
0.04 X 10 = $0.40*
AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.
AvaTrade does not charge commissions on any trade.
All Instruments are traded on Margin allowing you to Leverage your positions. The Commodities Trading Conditions display Margin Amounts as a Percentage (%).
Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*
* Margin Required is calculated in the Currency the Instrument is Denominated in.
Example
For a 10 barrel Crude Oil Trade, with a Market Price of $98.00 and a Margin Requirement of 1.00%, the calculation is as follows:
Percentage Margin Requirement: 10 x 98 x 0.01 = $9.80*
The Commodities Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.
You can use the following formula to calculate your Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
Example
For a 10 barrel Crude Oil Trade, with an End of Day Market Price of $50.00 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:
10 x 50.00 x -0.000028 = -0.014 = -$0.01* rounded.
Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.
股票指數
The Stock Indices Trading Conditions display the ‘Spread Over Market’ for Stock Index Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
Example 1
For a 1 index S&P500 Trade, with a Spread of 75 Pips ($0.75), the calculation is as follows:
0.75 X 1 = $0.75*
AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.
AvaTrade does not charge commissions on any trade.
All Instruments are traded on Margin allowing you to Leverage your positions. The Stock Indices Trading Conditions display Margin Amounts as a Percentage (%).
Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*
* Margin Required is calculated in the Currency the Instrument is Denominated in.
Example
For a 1 Index S&P500 Trade, with a Market Price of $1400 and a Margin Requirement of 0.50%, the calculation is as follows:
Percentage Margin Requirement: 1 x 1, 400 x 0.005 = $7.00*
The Stock Indices Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.
You can use the following formula to calculate your Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
Example
For a 1 Index S&P500 Trade, with an End of Day Market Price of $2000 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:
1 x 2,000 x -0.000028 = -0.056 = -$0.06* rounded.
Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.
個別股票
The Individual Equities Trading Conditions display the ‘Spread Over Market’ for Individual Equity Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
Example
For a trade of 1 APPLE share, with a Spread of 12 pips (0.12), the calculation is as follows:
0.12 X 1 = $0.12*
AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.
AvaTrade does not charge commissions on any trade.
All Instruments are traded on Margin allowing you to Leverage your positions. The Individual Equities Trading Conditions display Margin Amounts as a Percentage (%).
Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*
*Margin Required is calculated in the Currency the Instrument is Denominated in.
AVA may double margin requirements on specific stocks prior to earnings release. This is a preventative measure to avoid clients with large exposures in the said equity, falling into negative equity.
Example 1
For a trade of 1 APPLE share with a Market Price of $500 and a Margin Requirement of 5.00%, the calculation is as follows:
Percentage Margin Requirement: 1 x 500 x 0.05 = $25.00*
The Individual Equities Trading Conditions display the Over-Night Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.
You can use the following formula to calculate your Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
* Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
Example 2
For a trade of 1 APPLE share, with an End of Day Market Price of $140 and a Daily Overnight Interest Buy (or Sell) rate of -0.0083%, and subject to a charge for 1 day, the calculation is as follows:
1 x 140 x -0.000083 = -0.012 = -$0.01* rounded.
Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.
Individual Equities may at some stage partake in a Corporate Action; these can include Dividends, Rights Issues, Stock/Reverse Splits, Mergers, Acquisitions, Takeovers etc.
Dividends: For any individual equity on the AVATRADE trading platforms that declares a dividend, AVATRADE will make an Adjustment to every account that holds said equity, at the end of the cum-dividend day. This will be one day before the ex-dividend day.
The adjustment made to accounts will be:
1. Long Positions will be Credited with 100% of the Gross dividend.
(Amount of Shares x Gross Dividend) x 1.00
2. Short Positions will be Debited with 100% of the Gross dividend.
(Amount of Shares x Gross Dividend) x -1
Note: There are no other costs to clients in relation to Dividends.
Example 3
For a trade of 1 APPLE share, with a GROSS Div. of $1.00, the calculation is as follows:
Long Position: (1 x 1.00) x 1.00 = 1.00 x 1.00 = +$1.00
Short Position: (1 x 1.00) x -1 = 1.00 x -1 = -$1.00
For ALL other Corporate Actions: Rights Issue, Stock/Reverse Splits, Mergers, Acquisitions, Takeovers etc, and as these actions can happen suddenly and without prior knowledge.
Note: There are no costs to clients in relation to these other Corporate Actions.
債券
The Bonds Trading Conditions display the ‘Spread Over Market’ for Bond Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
Example
For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Spread of 5 pips (0.05), the calculation is as follows:
0.05 X 10 = $0.50*
AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.
AvaTrade does not charge commissions on any trade.
All Instruments are traded on Margin allowing you to Leverage your positions. The Bonds Trading Conditions display Margin Amounts as a Percentage (%).
Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*
* Margin Required is calculated in the Currency the Instrument is Denominated in.
Example
For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Market Price of $124.50 and a Margin Requirement of 1.00%, the calculation is as follows:
Percentage Margin Requirement: 10 x 124.50 x 0.01 = $12.45*
The Bonds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy “and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.
You can use the following formula to calculate your Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
Example
For a 10 Bond 5 Year US T-NOTES Trade, with an End of Day Market Price of $150 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:
10 x 150 x -0.000028 = -0.042 = -$0.04* rounded.
Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.
交易所買賣基金
The Exchange Traded Funds Trading Conditions display the ‘Spread Over Market’ for Bond Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up AVATRADE adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
Example
For a trade of 10 Financial Select Sector SPDR shares, with a Spread of 6 pips (0.06), the calculation is as follows:
0.06 X 10 = $0.60*
AvaTrade is compensated through the Bid-Ask spread, except when otherwise stated.
AvaTrade does not charge commissions on any trade.
All Instruments are traded on Margin allowing you to Leverage your positions. The Exchange Traded Funds Trading Conditions display Margin Amounts as a Percentage (%).
Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*
* Margin Required is calculated in the Currency the Instrument is Denominated in.
Example
For a trade of 10 Financial Select Sector SPDR shares, with a Market Price of $18.50 and a Margin Requirement of 5.00%, the calculation is as follows:
Percentage Margin Requirement: 10 x 18.50 x 0.05 = $9.25*
The Exchange Traded Funds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.
You can use the following formula to calculate your Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
Example
For a trade of 10 Financial Select Sector SPDR shares, with an End of Day Market Price of $24.00 and a Daily Overnight Interest Buy (or Sell) rate of -0.0083%, and subject to a charge for 1 day, the calculation is as follows:
10 x 24.00 x -0.000083 = -0.019 = -$0.02* rounded.
Note: Ava Trade platforms display overnight interest (swaps) in annualised terms.
Exchange Traded Funds (ETF’s) may at some stage partake in a Corporate Action; these can include Dividends, Rights Issues, Stock/Reverse Splits, etc.
Dividends: For any ETF on the AVATRADE trading platforms that declares a dividend, AVATRADE will make an Adjustment to every account that holds said equity, at the end of the cum-dividend day. This will be one day before the ex-dividend day.
The adjustment made to accounts will be:
1. Long Positions will be Credited with 90% of the Gross dividend.
(Amount of Shares x Gross Dividend) x 0.90
2. Short Positions will be Debited with 100% of the Gross dividend.
(Amount of Shares x Gross Dividend) x -1
Note: There are no other costs to clients in relation to Dividends.
Example
For a trade of 10 Financial Select Sector SPDR shares, with a GROSS Div. of $1.00, the calculation is as follows:
Long Position: (1 x 1.00) x 0.90 = 1.00 x 0.90 = +$0.90
Short Position: (1 x 1.00) x -1 = 1.00 x -1 = -$1.00
For ALL other Corporate Actions: Rights Issue, Stock/Reverse Splits, etc. and as these actions can happen suddenly and without prior knowledge, Open Positions and Orders will be Closed/Removed at the end of the cum-action day at market price on the particular equity.
Note: There are no costs to clients in relation to these other Corporate Actions.
閒置費和管理費
客戶需要知道客戶的交易帳戶可能會被收取一筆閒置費,除非法律禁止。連續3個月沒有使用(閒置期),並且在每一個連續的不使用期間,閒置費將會從客戶的交易帳戶中扣除。此費用概述如下:
閒置費:
- 美金帳戶:$50
- 歐元帳戶:€50
- 英鎊帳戶:£50
此費用會定期更改。
客戶需要知道客戶的交易帳戶可能會被收取一年的管理費,除非法律禁止。連續12個月沒有使用(年度閒置期),一筆管理費將會從客戶的交易帳戶中扣除。此費用概述如下:此費用是為了抵消服務時所產生的費用,即使它沒有被使用。
管理費:
- 美金帳戶:$100
- 歐元帳戶:€100
- 英鎊帳戶:£100
此費用會定期更改。
Trading Conditions:
Spread
- All Spreads are Over Market.
- FX Standard Spreads are as stated under Normal Market Conditions.
- FX Pairs may not be tradable shortly before and after End-of-Day (22:00 GMT or 21:00 GMT during US DST) – due to liquidity constraints during the Interbank settlement period
- Gold & Silver spreads may be wider than stated from approx 22:00 – 02:00 GMT.
- Crude & Brent Oil spreads may be wider than stated from approx 22:00 – 05:00 GMT.
- Crude Oil & Natural Gas spreads may be wider during Weekly Inventories.
- PIP FX Pairs = 0.0001; 1 PIP JPY FX Pairs = 0.01.
- Typical Spreads are an indication only and may widen due to volatile market conditions
- Typical Spreads are derived from the median value of the respective spreads during trading hours (07.00-18.00 GMT) from a previous quarter.
- FX Option Spreads show typical bid-offer spreads for 1-month at-the-money options under normal market conditions.
- FX Options can be traded online up to 24 hours prior to their expiration.
- FX Options expire at the times indicated in the platform, which correspond to 10:00am New York time.
- All FX Options are European style vanilla options. At expiration, all in-the-money options will be automatically closed at intrinsic value.
- Crude Oil Monthly Futures positions are closed at expiry – they are not rolled onto the next contract
- Crude Oil Monthly Futures may be set to ‘Close-Only’ in advance of expiry
- Trading Hours may change due to Daylight Savings Time.
Overnight Interest Rates:
- All Overnight Interest Rates are indicative and subject to change.
- MT4 FX, Gold & Silver Positions: Saturday/Sunday Overnight Interest will be Debited/Credited on the Wednesday before.
- MT4 Non-FX (excl. Gold & Silver) Positions: Saturday/Sunday Overnight Interest will be Debited/Credited on the Friday before.
Margin:
- Margin requirements can increase based on position size, news release and/or volatility.
- If an Options account has open positions in both the underlying instrument (e.g. Spot EUR/USD) and Options on the instrument (e.g. Short Call on EUR/USD), the lower leverage (higher margin rate) will apply to all spot and option positions in that instrument.
Trade Size:
- MetaTrader Minimum Nominal Trade Size = 0.01
- Fractional share size (0.001 Lot) available for selected shares on MT5 Platform.
- BTCUSD, BTCEUR, BTCJPY, BCHUSD, ETHEREUM, XRP(RIPPLE), LITECOIN Mini, BTGUSD, DASH, Stellar (XLMUSD) – Trading is 24/7 for MetaTrader accounts.
- Cryptocurrency spreads can be volatile and depend on current market conditions.
- Margin Requirements on Crypto pairs may increase during periods of volatility.
- Crypto Currency trading is not available on Islamic accounts.
- BTC Pairs = $1M Max*
- ETH = $750K Max*
- XRP = $100K Max*
- BCH, LTC = $200K Max*
- BTGUSD, STELLAR, EOS, NEO, MIOTA, DOGECOIN, SHIBA, SOLANA, POLYGON = $50K Max*
- DASH = $10K Max*
- Palladium = $400K Max*
- CRYPTO10, CANNABIS_IN = $100K Max*
- Crypto Assets’ limit of $1.5M
- TRY Pairs = $1M Max
- Silver Future Contracts = $1M Max
Crypto Currencies:
Please note: As per regulation guidelines, Cryptocurrencies trading is prohibited for all UK based clients except professional traders.
Please Note: Due to platform maintenance and downtime on the Crypto exchanges, Crypto pairs may be un-tradable for short periods over the weekends.
Max Positions Limits (Per Customer)
* Maximum Position Limits may be reduced during periods of volatility.
* Position Limits may be introduced on any security during periods of volatility.
* Margins may be increased on any instrument, without prior notice, outside normal market conditions
AvaTrade reserves the right to cancel any excess trades or exposures that exceed the outlined threshold limits, all cancelled trades will be closed at their opening rates.
AvaTrade reserves the right to modify its threshold limits, affected clients will be notified in advance and may be required to reduce their exposure.
Your access to and use of the website and/or platform constitutes your acceptance of these Trading Conditions and any other legal notices and statements contained on same. Ava may modify these Trading Conditions at any time and without prior notice. Your continued access to and use of the website and/or platform constitutes your acceptance of these Trading Conditions as modified.