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Fees and
Charges

What are the fees and charges
 associated with trading with Axi?

Spread

The spread is the difference between the buy (ask) price and the sell (bid) price. The spread applies to all product types.

For example, if the instrument is trading at a mid-price of 1274, our ask price (the price at which you can buy) might be 1274.2 and our bid price (the price at which you can sell) might be 1273.8. The full cost of the spread is realised each time you open and close a trade.

Standard Accounts

Our transaction fees are incorporated into the bid-offer spread for each Product (our spread). Because we deal as principal, the prices we offer you may not be the same as those in the Underlying Market and may be wider or narrower.

The price may depend upon several factors including transaction size, term of the Product, our business relationship with you, the prevailing Underlying Market rates and, in the case of swaps and rollovers, on the differing interest rates applicable to the currency pair involved in a FX transaction.

Pro Accounts

Our commission on Pro Accounts pays for our clearing and aggregation costs, together with our cost of providing the service to you.

Commissions are charged in the Account Currency and are based on the number of standard Contracts bought or sold in each transaction. For a fraction of a standard Contract, the charge is made on a pro-rata basis.

The table below sets out the commissions payable on FX and Bullion transactions on Pro Accounts when you open a Position.

Account Currency Per Standard Contract Account Currency Per Standard Contract
AUD $7.00 JPY ¥850
CAD $9.00 NZD $11.00
CHF 7.25 PLN zł28.00
EUR €6.50 SGD $10.00
GBP £4.50 USD $7.00
HKD $55.00 Other USD $7.00 equivalent

Financing Fees

The Financing fee (or 'interest', 'holding fees' or 'swaps') is an adjustment reflecting the relative difference in interest rates or yield on the Underlying Instruments, and applies to FX Margin Contracts, Bullion Spot CFDs and Cash CFDs.

A Client Account will either be credited or debited with financing fees based on open Positions at the close of each Business Day.

Financing fees accrue in each position “Swap” field in MT4 and MT5 whilst a Position remains open and are credited or debited to Client Accounts when the trade is closed.

If you hold a long position on a Contract where the platform’s swap rate for long Positions is a positive value, you will accrue a Financing Benefit. If you hold a long position on a Contract where the swap rate for long Positions is a negative value, you will accrue a Financing Charge.

If you hold a short position on a Contract where the platform swap rate for short Positions is a positive value, you will accrue a Financing Benefit. If you hold a short position on a Contract where the swap rate for short Positions is a negative value, you will accrue a Financing Charge.

In certain interest rate market conditions, the swap rate may be negative for both long and short Positions.

We apply Financing fees daily and usually in the 30 seconds before 5pm New York close. Currency pairs will have triple daily swaps applied on either Wednesday or Thursday in order to reflect the Underlying Market Settlement Date rolling over the weekend. Please see our Product Schedule which displays, which day triple swaps are applied for each pair.

We usually don't incorporate short currency holidays into the swap rate calculation but may do so for extended currency holidays periods, for example Lunar New Year and Golden Week.

How are financing fees calculated?

Financing fees are calculated in relation to the counter currency and are converted to and applied in the Account Currency. Financing fees are subject to change and are available within the Trading Platform.

Swap Free Accounts

Swap free Accounts are not subject to Financing Charges or Benefits on FX Margin Contracts, Bullion Spot CFDs and Cash CFDs. We reserve the right to revoke the swap free status of any live account considered to be misused, trading in a suspicious manner or operating outside the realms of good faith.

Corporate Actions

Index CFDs are made up of a group of stocks that may pay dividends throughout the year. In the event a dividend is paid on a stock the value of the stock will drop and therefore so does the value of the index.

In relation to Index Cash CFD products only:
Dividend adjustments are made in relation to indices and are paid on net positions only. Short positions will be positively impacted by the drop in index price while long positions are negatively impacted. The funds will be debited or credited (as applicable) to your account at the close of business on the ex-dividend date.

Dividend adjustments payments are made in relation to equity CFDs. Short positions will be positively impacted by the drop in price, so you will be debited the dividend adjustment value. Long positions are negatively impacted so you are credited the dividend adjustment. Your account will be credited or debited as applicable.

Corporate Actions Adjustments

Share CFDs may be subject to adjustments that are either positive or negative depending on the corporate action and whether you are long or short.

The most common corporate action is dividend payments which are credited or debited based on the value of your net exposure. Dividend adjustments take place on the ex-dividend date.

 

Stock splits:

A stock split occurs when a company decides to increase the number of its outstanding shares to enhance the stock's liquidity. Although the number of outstanding shares increases by a specific proportion, the total value of shares remains the same. A stock split does not affect the value of the company. In the event a company pays dividends, the dividend per share will be adjusted accordingly keeping overall dividend payments the same.

For example, if you owned 10 shares of a stock trading at $100. In a 2-for-1 split, the company would give you two shares with a market-adjusted value of $50 for every one share you own, resulting in you owning 20 shares.

Rollover Fee

In relation to Commodity Futures CFD and
 Index Futures CFD products only:
The principle of the futures CFD rollover process is that traders will neither profit nor lose from the CFD rolling from the current underlying futures price to the next. You will be credited or debited with a rollover charge or swap benefit that reflects the buying and selling of the expiring and next underlying instrument contract.

For example, if you have incurred a profit on the change to the new contract price you will receive a rollover charge which will offset the gain. If you incurred a loss on the change to the new contract price you will receive a swap benefit which will offset the loss. We typically switch from using the front month to the next serial futures contract 1-2 trading days prior to the underlying instrument’s last trading day when liquidity can be limited.

 

Other Charges

Deposits

Please be advised that your credit card provider may view payments made to us as a cash advance and that they may charge you accordingly.

For further deposit information, please see here.

Withdrawals

Withdrawals are free if they are above US $50 or for the full balance of your Account. Otherwise, an administration fee of US $25 may apply.

For further withdrawal information, please see here.

Bank Transfers

Your bank may charge you a receiving fee for any international bank transfer, we are not liable for this fee and this will be incurred by you.

Administrative Charges

We may apply administration charges for duplicate statements, telephone transcripts, audit certificates or for other requests. Fees will be advised upon request.

We may apply charges relating to debt collection communications, agency fees and legal costs. Fees will be advised when applicable.

Inactivity Fee

We reserve the right to charge an inactivity fee where there are funds in your Account but there has been no trading activity and no open positions on your Account for a continuous period of 12 months. After 12 months of inactivity, the fee will be charged within 30 business days and, from 1 April 2023, deducted monthly thereafter.

The fee charged is based on your Account currency. Please see our Product Schedule for full details.