交易条款

Meta Trader的最小交易量是0.01

该网站以及平台执行的所有交易都受到以下交易条款的约束:

  • 点差:

    1. 所有点差均为场外市场
    2. 外汇标准点差为市场正常情况下的点差。
    3. 部分特殊交易品种在某些固定时间段或重要数据公布时可能更大
    4. 外汇货币对1标准点差=0.0001;日元外汇对1标准点差=0.01
    5. 外汇浮动: 典型点差只是一个指示,可能由于市况波动而变大。
    6. 外汇浮动:典型点差来自上一个季度的交易时段(07:00-18:00 格林威治时间)中各个点差的中间值。
  • 隔夜利息:

    1. 所有利息仅供参考且可能会变动。
    2. 部分其他交易品种周六/周日隔夜利息将借记/贷记入上一个周三或周五,详情请咨询官方客服
  • 保证金:

    1. 所需保证金比例可能会根据仓位的规模而上调
  • 交易时间:

    1. 交易平台的开市和休市时间可能会根据所列时间段提前或推后几分钟。具体情况取决于交易合约所在的交易所。
    2. 交易时间为格林尼治时间,可能会根据夏令时进行调整
  • 最大交易/订单:

    1. 在任何时间,MetaTrader的帐户限制量都为最多500份未平仓交易/挂单(总和数量)。

Ava可能在没有提前通知的情况下随时修改这些交易条款。 您持续登入和使用网站以及平台将意味着您接受修改后的条款

术语解释 :

  • 金融工具 – 包含外汇、股票等多种交易产品。
  • 国家 – 金融市场的区域性归属。
  • 手量 – 在每个平台上进行买卖的每手买卖单位(注意:Ava Trade的每手买卖数量指的是可进行交易的最低数量。MT4代表标准手)
  • 标准点差– 在正常的市场条件下,每种金融工具的标准点差报价
  • 杠杆 – 请参看前文解释
  • 每手保证金– 在任意产品中交易一手所需要的保证金(注意:使用杠杆后的交易价值)
  • 增量 – 每种金融工具价格变动的最小增量
  • 隔夜利息买入/卖出 – 每种产品每晚按照每手收取或支付的隔夜利息
  • 交易时间 – 请参看前文解释
  • 报价月份 – Ava Trade 一些交易产品报价的月份
  • 交换– 标的资产的交换
  • 单位 – 每手买卖量的报价单位

The FX Fixed Trading Conditions display the Standard Bid-Ask Spread (Pips) for FX Instruments unless otherwise stated. Standard Spreads are as stated under Normal Market Conditions. Spreads can widen depending on market conditions up to a maximum of Standard Spread x3 (Triple).

Spread Cost Formula: Spread x Trade Size = Spread Charge in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Spread of 3 pips (0.0003), the calculation is as follows:

0.0003 X 1,000 = $0.30*

*The $0.30 is a US Dollar amount as Pips are calculated in the Secondary Currency, in this example the USD is the Secondary Currency in the pair EUR/USD (EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1,000 USD/JPY Trade, with a Spread of 4 pips (0.04), the calculation is as follows:

0.04 X 1,000 = ¥40.00*

*The ¥40.00 is a Japanese Yen amount as Pips are calculated in the Secondary Currency, in this example the JPY is the Secondary Currency in the pair USD/JPY (USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1,000 GBP/CAD Trade, with a Spread of 12 pips (0.0012), the calculation is as follows:

0.0012 X 1,000 = C$1.20*

*The C$1.20 is a Canadian Dollar amount as Pips are calculated in the Secondary Currency, in this example the CAD is the Secondary Currency in the pair GBP/CAD (GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads for FX Fixed Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 FX Fixed Trading Conditions display both Margin & Leverage Amounts; Margin is displayed as a Percentage (%) while Leverage is displayed as a Ratio.

Percentage Margin Formula: Trade Size x Margin (%) = Margin Required in Primary Currency*

Leverage Margin Formula: Trade Size / Leverage = Margin Required in Primary Currency*

*Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Margin Requirement of 0.50% or Leverage of 200:1, the calculation are as follows:

Percentage Margin Requirement: 1,000 x 0.005 = €5.00*

Leverage Margin Requirement: 1,000 / 200 = €5.00*

*The €5.00 is a Euro amount as Margin is calculated in the Primary Currency of the pair (EUR/USD: EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1,000 USD/JPY Trade, with a Margin Requirement of 0.50% or Leverage of 200:1, the calculations are as follows:

Percentage Margin Requirement: 1,000 x 0.005 = $5.00*

Leverage Margin Requirement: 1,000 / 200 = $5.00*

*The $5.00 is a US Dollar amount as Margin is calculated in the Primary Currency of the pair (USD/JPY: USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1,000 GBP/CAD Trade, with a Margin Requirement of 0.25% or Leverage of 400:1, the calculations are as follows:

Percentage Margin Requirement: 1,000 x 0.0025 = £2.50*

Leverage Margin Requirement: 1,000 / 400 = £2.50*

*The £2.50 is a Great British Pound amount as Margin is calculated in the Primary Currency of the pair (GBP/CAD: GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for FX Fixed Instruments can be found on the AVATRADE Trading Conditions Table above.

The FX Fixed Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past our End of Day time. These rates are displayed in the "Premium Buy" and "Premium 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 Daily Premium amount using the published Premiums:

Trade Amount x Premium or Interest Rate x Number of days = Premium Charged/Paid*360 Days

*Premium Charged/Paid will be calculated in the Primary Currency; Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Premium Buy (or Sell) rate of -1.00% and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -€0.03* rounded

*The -€0.03 is a Euro amount as the EUR is the Primary Currency in the pair (EUR/USD: EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a 1,000 USD/JPY Trade, with a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -$0.03* rounded

*The -$0.03 is a US Dollar amount as the USD is the Primary Currency in the pair (USD/JPY: USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a 1,000 GBP/CAD Trade, with a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -£0.03* rounded

*The -£0.03 is a Great British Pound amount as the GBP is the Primary Currency in the pair (GBP/CAD: GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy & Sell Rates for FX Fixed Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

The FX Floating (MT4 only) Trading Conditions display the Minimum & Typical Bid-Ask Spreads (Pips) for Floating Instruments unless otherwise stated. Typical Spreads are derived from the median value of the respective spreads during trading hours (07.00-18.00 GMT) from the previous quarter.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Secondary Currency*

*Secondary Currency is the Second Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Spread of 3 pips (0.0003), the calculation is as follows:

0.0003 X 1,000 = $0.30*

*The $0.30 is a US Dollar amount as Pips are calculated in the Secondary Currency, in this example the USD is the Secondary Currency in the pair (EUR/USD: EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1,000 USD/JPY Trade, with a Spread of 4 pips (0.04), the calculation is as follows:

0.04 X 1,000 = ¥40.00*

*The ¥40.00 is a Japanese Yen amount as Pips are calculated in the Secondary Currency, in this example the JPY is the Secondary Currency in the pair (USD/JPY: USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1,000 GBP/CAD Trade, with a Spread of 12 pips (0.0012), the calculation is as follows:

0.0012 X 1,000 = C$1.20*

*The C$1.20 is a Canadian Dollar amount as Pips are calculated in the Secondary Currency, in this example the CAD is the Secondary Currency in the pair (GBP/CAD: GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads for FX Floating (MT4 only) Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore compensated through the Bid-Ask spread except when otherwise stated. AVATRADE does not charge commiss ions on any trade.

All Instruments are traded on Margin allowing you to Leverage your positions. The FX Floating (MT4 only) Trading Conditions display both Margin & Leverage Amounts; Margin is displayed as a Percentage (%) while Leverage is displayed as a Ratio.

Percentage Margin Formula: Trade Size x Margin (%) = Margin Required in Primary Currency*

Leverage Margin Formula: Trade Size / Leverage = Margin Required in Primary Currency*

*Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Margin Requirement of 0.25% or Leverage of 400:1, the calculation are as follows:

Percentage Margin Requirement: 1,000 x 0.0025 = €2.50*

Leverage Margin Requirement: 1,000 / 400 = €2.50*

*The €2.50 is a Euro amount as Margin is calculated in the Primary Currency of the pair (EUR/USD: EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1,000 USD/JPY Trade, with a Margin Requirement of 0.25% or Leverage of 400:1, the calculations are as follows:

Percentage Margin Requirement: 1,000 x 0.005 = $2.50*

Leverage Margin Requirement: 1,000 / 200 = $2.50*

*The $2.50 is a US Dollar amount as Margin is calculated in the Primary Currency of the pair (USD/JPY: USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1,000 GBP/CAD Trade, with a Margin Requirement of 0.25% or Leverage of 400:1, the calculations are as follows:

Percentage Margin Requirement: 1,000 x 0.0025 = £2.50*

Leverage Margin Requirement: 1,000 / 400 = £2.50*

*The £2.50 is a Great British Pound amount as Margin is calculated in the Primary Currency of the pair (GBP/CAD: GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for FX FX Floating (MT4 only) Instruments can be found on the AVATRADE Trading Conditions Table above.

The FX Floating (MT4 only) Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium 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 Daily Premium amount using the published Premiums:

Trade Amount x Premium or Interest Rate x Number of days = Premium Charged/Paid*360 Days

*Premium Charged/Paid will be calculated in the Primary Currency; Primary Currency is the First Currency quoted in an FX pair (CUR1/CUR2: USD/JPY, EUR/USD, etc.)

Example 1

For a 1,000 EUR/USD Trade, with a Premium Buy (or Sell) rate of -1.00% and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -€0.03* rounded

*The -€0.03 is a Euro amount as the EUR is the Primary Currency in the pair (EUR/USD: EUR = Primary, USD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a 1,000 USD/JPY Trade, with a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -$0.03* rounded

*The -$0.03 is a US Dollar amount as the USD is the Primary Currency in the pair (USD/JPY: USD = Primary, JPY = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a 1,000 GBP/CAD Trade, with a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(1,000 x -0.01 x 1)/360 = -10/360 = -0.02778 = -£0.03* rounded

*The -£0.03 is a Great British Pound amount as the GBP is the Primary Currency in the pair (GBP/CAD: GBP = Primary, CAD = Secondary). If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy & Sell Rates for FX Floating (MT4 only) Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

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 1

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*

*The $0.40 is a US Dollar amount as Pips for Commodities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1 bushel Soybean Trade, with a Spread of 6 pips ($1.50), the calculation is as follows:

1.50 X 1 = $1.50*

*The $1.50 is a US Dollar amount as Pips for Commodities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1 oz. Gold Trade, with a Spread of 60 pips ($0.60), the calculation is as follows:

0.60 X 1 = $0.60*

*The $0.60 is a US Dollar amount as Pips for Commodities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads & Currency Denominations for Commodities Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 1

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 $9.80 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1 bushel Soybean Trade, with a Market Price of $1450 and a Margin Requirement of 3.00%, the calculation is as follows:

Percentage Margin Requirement: 1 x 1450 x 0.03 = $43.50*

*The $43.50 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 1 oz. Gold Trade, with a Market Price of $1650 and a Margin Requirement of 0.50%, the calculation is as follows:

Percentage Margin Requirement: 1 x 1650 x 0.005 = $8.25*

*The $8.25 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for Commodities Instruments can be found on the AVATRADE Trading Conditions Table above.

The Commodities Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium Sell" columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Formula to calculating your Daily Premium charge using the published Premiums:

Amount x Current Price x Premium Buy or Sell Rate x Number of days = Premium Charged/Paid * 360 Days

*Premium Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example 1

For a 10 barrel Crude Oil Trade, with a Market Price of $98.00 and a Premium Buy (or Sell) rate of -0.20%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 98.00 x -0.002 x 1)/360 = -1.96/360 = -0.005444 = -$0.01* rounded.

*The -$0.01 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a 1 bushel Soybean Trade, with a Market Price of $1450 and a Premium Buy (or Sell) rate of -0.25%, and subject to a charge for 1 day, the calculation is as follows:

(1 x 1450 x -0.0025 x 1)/360 = -3.625/360 = -0.010069 = -$0.01* rounded.

*The -$0.01 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a 1 oz. Gold Trade, with a Market Price of $1650 and a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(1 x 1650 x -0.01 x 1)/360 = -16.50/360 = -0.04583 = -$0.05* rounded.

*The -$0.05 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy/Sell Rates & Currency Denominations for Commodity Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

AVATRADE quotes futures contracts on many of its non-FX instruments; specified under the "Quoted Months" column of the Trading Conditions for that Instrument.

When a Futures Contract approaches its Expiry Date or First Notice Date AVA will Rollover all Open Positions to the next Tradable Contract at the time specified in the CFD Rollover Dates section of our website.

Clients with Open Positions who do not wish to have their positions Rolled Over into the Next Contract should close their positions before the Scheduled Rollover.

AVATRADE adjusts accounts with Open Positions in Maturing Instruments to ensure Clients do not Gain/Lose due to differences in Price between Old & New contracts. Clients will incur costs in relation to the Spread Cost in closing the Old contract and Opening the New Contract and a Standard O/N Premium charge.

To Calculate the Rollover AVATRADE takes a MID Rate for the Old Contract (Current Traded Contract) and the New Contract (Next Tradable Contract) at exactly the same time before the contract closes for trading. We then calculate the Difference in Price between Contracts, adjust this for our Spread and Overnight Premium Costs, and the resulting amount is either Credited or Debited to the clients account via Premiums.

Note: There are NO other costs incurred by Clients involved in the rolling over of Futures Contracts.

Formula used by AVA for calculating a Rollover Charge:

(Amount x (New Contract Price - Old Contract Price)) + (Spread Costs*) + (Overnight Premium Costs)

*Spread Costs are calculated based on Market Spreads at the time of the Rollover Calculation.

General Rule of Thumb:

New Price < Old Price = Credit for Long Positions / Debit for Short Positions

New Price > Old Price = Debit for Long Positions / Credit for Short Positions

Example 1

For a 10 barrel Crude Oil Trade, with a Market Price of $98.50 and a Difference in Contracts of +50 Pips ($0.50), the calculation is as follows:

Long Position: (10 x -0.50) + (-0.04 x 10) + ((10 x 98.50 x -0.002 x 1)/360)) = -5.00 + (-0.40) + (-0.01) = -$5.41
Short Position: (10 x +0.50) + (-0.04 x 10) + ((10 x 98.50 x -0.002 x 1)/360)) = 5.00 + (-0.40) + (-0.01) = +$4.59

Example 2

For a 1 bushel Soybean Trade, with a Market Price of $1450 and a Difference in Contracts of -6,000 Pips (-$60), the calculation is as follows:

Long Position: (1 x +60.00) + (-1.25 x 1) + ((1 x 1450 x -0.0025 x 1)/360)) = 60.00 + (-1.25) + (-0.01) = +$58.74
Short Position: (1 x -60.00) + (-1.25 x 1) + ((1 x 1450 x -0.0025 x 1)/360)) = -60.00 + (-1.25) + (-0.01) = -$61.26

All Rollover Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All upcoming Rollover Dates for ALL Instruments can be found on the AVATRADE CFD Rollover Dates page: CFD-Rollover-Dates

AVATRADE cannot provide Rollover Adjustment Information before the Adjustment occurs, if clients do not wish to incur a Rollover Adjustment please close Open Positions in Maturing Instruments before the Scheduled Rollover.

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*

*The $0.75 is a US Dollar amount as Pips for Stock Indices are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1 index CAC 40 Trade, with a Spread of 300 pips (€3.00), the calculation is as follows:

3.00 X 1 = €3.00*

*The €3.00 is a Euro amount as Pips for Stock Indices are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 100 index NIKKEI225 Trade, with a Spread of 30 pips (¥30), the calculation is as follows:

30.00 X 100 = ¥3,000*

*The ¥3,000 is a Japanese Yen amount as Pips for Stock Indices are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads & Currency Denominations for Stock Index Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 1

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 $7.00 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a 1 Index CAC 40 Trade, with a Market Price of €3500 and a Margin Requirement of 2.00%, the calculation is as follows:

Percentage Margin Requirement: 1 x 3,500 x 0.02 = €70.00*

*The €70.00 is a Euro amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a 100 Index NIKKEI225 Trade, with a Market Price of ¥10500 and a Margin Requirement of 2.00%, the calculation is as follows:

Percentage Margin Requirement: 100 x 10,500 x 0.02 = ¥21,000*

*The ¥21,000 is a Japanese Yen amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for Stock Index Instruments can be found on the AVATRADE Trading Conditions Table above.

The Stock Indices Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium Sell" columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Formula to calculating your Daily Premium charge using the published Premiums:

Amount x Current Price x Premium Buy or Sell Rate x Number of days = Premium Charged/Paid * 360 Days

*Premium Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example 1

For a 1 Index S&P500 Trade, with a Market Price of $1400 and a Premium Buy (or Sell) rate of -0.50%, and subject to a charge for 1 day, the calculation is as follows:

(1 x 1,400 x -0.005 x 1)/360 = -7.00/360 = -0.01944 = -$0.02* rounded.

*The -$0.02 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a 1 Index CAC 40 Trade, with a Market Price of €3500 and a Premium Buy (or Sell) rate of -0.50%, and subject to a charge for 1 day, the calculation is as follows:

(1 x 3,500 x -0.005 x 1)/360 = -17.50/360 = -0.04861 = -€0.05* rounded.

*The -€0.05 is a Euro amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a 100 Index NIKKEI225 Trade, with a Market Price of ¥10500 and a Premium Buy (or Sell) rate of -1.00%, and subject to a charge for 1 day, the calculation is as follows:

(100 x 10,500 x -0.01 x 1)/360 = -10,500/360 = -29.16667 = -¥29.17* rounded.

*The -¥29.17 is a Japanese Yen amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy/Sell Rates & Currency Denominations for Stock Index Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

AVATRADE quotes futures contracts on many of its non-FX instruments; specified under the "Quoted Months" column of the Trading Conditions for that Instrument.

When a Futures Contract approaches its Expiry Date or First Notice Date AVA will Rollover all Open Positions to the next Tradable Contract at the time specified in the CFD Rollover Dates section of our website.

Clients with Open Positions who do not wish to have their positions Rolled Over into the Next Contract should close their positions before the Scheduled Rollover.

AVATRADE adjusts accounts with Open Positions in Maturing Instruments to ensure Clients do not Gain/Lose due to differences in Price between Old & New contracts. Clients will incur costs in relation to the Spread Cost in closing the Old contract and Opening the New Contract and a Standard O/N Premium charge.

To Calculate the Rollover AVA takes a MID Rate for the Old Contract (Current Traded Contract) and the New Contract (Next Tradable Contract) at exactly the same time before the contract closes for trading. We then calculate the Difference in Price between Contracts, adjust this for our Spread and Overnight Premium Costs, and the resulting amount is either Credited or Debited to the clients account via Premiums.

Note: There are NO other costs incurred by Clients involved in the rolling over of Futures Contracts.

Formula used by AVA for calculating a Rollover Charge:

(Amount x (New Contract Price - Old Contract Price)) + (Spread Costs*) + (Overnight Premium Costs)

*Spread Costs are calculated based on Market Spreads at the time of the Rollover Calculation.

General Rule of Thumb:

New Price < Old Price = Credit for Long Positions / Debit for Short Positions

New Price > Old Price = Debit for Long Positions / Credit for Short Positions

Example 1

For a 1 index S&P500 Trade, with a Market Price of $1425 and a Difference in Contracts of +2500 Pips ($25), the calculation is as follows:

Long Position: (1 x -25.00) + (-0.50 x 1) + ((1 x 1425 x -0.005 x 1)/360)) = -25.00 + (-0.50) + (-0.02) = -$25.52
Short Position: (1 x +25.00) + (-0.50 x 1) + ((1 x 1425 x -0.005 x 1)/360)) = 25.00 + (-0.50) + (-0.02) = +$24.48

Example 2

For a 1 Index CAC 40 Trade, with a Market Price of €3500 and a Difference in Contracts of -7,500 Pips (-€75), the calculation is as follows:

Long Position: (1 x -75.00) + (-1.50 x 1) + ((1 x 3500 x -0.005 x 1)/360)) = -75.00 + (-1.50) + (-0.05) = -€76.55
Short Position: (1 x +75.00) + (-1.50 x 1) + ((1 x 3500 x -0.005 x 1)/360)) = +75.00 + (-1.50) + (-0.05) = +€73.45

All Rollover Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All upcoming Rollover Dates for ALL Instruments can be found on the AVATRADE CFD Rollover Dates page: CFD-Rollover-Dates

AVATRADE cannot provide Rollover Adjustment Information before the Adjustment occurs, if clients do not wish to incur a Rollover Adjustment please close Open Positions in Maturing Instruments before the Scheduled Rollover.

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 1

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*

*The $0.12 is a US Dollar amount as Pips for Individual Equities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 ALLIANZ shares, with a Spread of 150 pips (0.150), the calculation is as follows:

0.150 X 10 = €1.50*

*The €1.50 is a Euro amount as Pips for Individual Equities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 100 HSBC shares, with a Spread of 80 pips (0.80), the calculation is as follows:

0.80 X 100 = 80.0 or £0.80*

(UK shares are quoted in pennies so divide by 100: 80/100)

*The £0.80 is a Great British Pounds amount as Pips for Individual Equities are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads & Currency Denominations for Individual Equity Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 $25.00 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 ALLIANZ shares, with a Market Price of €102.50 and a Margin Requirement of 10.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 102.50 x 0.10 = €102.50*

*The €102.50 is a Euro amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 100 HSBC shares, with a Market Price of 650.50 pennies and a Margin Requirement of 10.00%, the calculation is as follows:

Percentage Margin Requirement: 100 x 650.50 x 0.10 = 6,505.00 pennies or £65.05*

(UK shares are quoted in pennies so divide by 100: 6505/100)

*The £65.05 is a Great British Pound amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for Individual Equity Instruments can be found on the AVATRADE Trading Conditions Table above.

The Individual Equities Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium Sell" columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Formula to calculating your Daily Premium charge using the published Premiums:

Amount x Current Price x Premium Buy or Sell Rate x Number of days = Premium Charged/Paid * 360 Days

*Premium Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example 1

For a trade of 1 APPLE share, with a Market Price of $500 and a Premium Buy (or Sell) rate of -2.55%, and subject to a charge for 1 day, the calculation is as follows:

(1 x 500 x -0.0255 x 1)/360 = -12.75/360 = -0.03542 = -$0.04* rounded.

*The -$0.04 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a trade of 10 ALLIANZ shares, with a Market Price of €102.50 and a Premium Buy (or Sell) rate of -3.45%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 102.50 x -0.0345 x 1)/360 = -35.363/360 = -0.09823 = -€0.10* rounded.

*The -€0.10 is a Euro amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a trade of 100 HSBC shares, with a Market Price of 650.50 pennies and a Premium Buy (or Sell) rate of -1.85%, and subject to a charge for 1 day, the calculation is as follows:

(100 x 650.50 x -0.0185x 1)/360 = -1,203.43/360 = -3.3428/100 = -£0.03* rounded.

(UK shares are quoted in pennies so divide by 100: -3.3428/100)

*The -£0.03 is a Great British Pound amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy/Sell Rates & Currency Denominations for Individual Equity Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

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 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 1

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 0.90 = 1.00 x 0.90 = +$0.90
Short Position: (1 x 1.00) x -1 = 1.00 x -1 = -$1.00

All Dividend Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a trade of 10 ALLIANZ shares, with a GROSS Div. of €0.14, the calculation is as follows:

Long Position: (10 x 0.14) x 0.90 = 1.40 x 0.90 = +€1.26
Short Position: (10 x 0.14) x -1 = 1.40 x -1 = -€1.40

All Dividend Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a trade of 100 HSBC shares, with a GROSS Div. of £0.04, the calculation is as follows:

Long Position: (100 x 0.04) x 0.90 = 4.00 x 0.90 = +£3.60
Short Position: (100 x 0.04) x -1 = 4.00 x -1 = -£4.00

All Dividend Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

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, 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.

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 1

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*

*The $0.50 is a US Dollar amount as Pips for Bonds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 Bonds on the EURO-BUND, with a Spread of 4 pips (0.04), the calculation is as follows:

0.04 X 10 = €0.40*

*The €0.40 is a Euro amount as Pips for Bonds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 100 Bonds on the JAPAN GOVT BOND, with a Spread of 14 pips (0.14), the calculation is as follows:

0.14 X 100 = ¥14.00*

*The ¥14.00 is a Japanese Yen amount as Pips for Bonds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads & Currency Denominations for Bonds Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 1

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 $12.45 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 Bonds on the EURO-BUND, with a Market Price of €142.50 and a Margin Requirement of 1.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 142.50 x 0.01 = €14.25*

*The €14.25 is a Euro amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 100 Bonds on the JAPAN GOVT BOND, with a Market Price of ¥144.50 and a Margin Requirement of 1.00%, the calculation is as follows:

Percentage Margin Requirement: 100 x 144.50 x 0.01 = ¥144.50*

*The ¥144.50 is a Japanese Yen amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements for Bonds Instruments can be found on the AVATRADE Trading Conditions Table above.

The Bonds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium Sell" columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Formula to calculating your Daily Premium charge using the published Premiums:

Amount x Current Price x Premium Buy or Sell Rate x Number of days = Premium Charged/Paid * 360 Days

*Premium Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example 1

For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Market Price of $124.50 and a Premium Buy (or Sell) rate of -0.50%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 124.50 x -0.005 x 1)/360 = -6.225/360 = -0.01729 = -$0.02* rounded.

*The -$0.02 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a trade of 10 Bonds on the EURO-BUND, with a Market Price of €142.50 and a Premium Buy (or Sell) rate of -0.50%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 142.50 x -0.005 x 1)/360 = -7.125/360 = -0.019792 = -€0.02* rounded.

*The -€0.02 is a Euro amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a trade of 100 Bonds on the JAPAN GOVT BOND, with a Market Price of ¥144.50 and a Premium Buy (or Sell) rate of -0.50%, and subject to a charge for 1 day, the calculation is as follows:

(100 x 144.50 x -0.005 x 1)/360 = -72.25/360 = -0.20069 = -¥0.20* rounded.

*The -¥0.20 is a Japanese Yen amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy/Sell Rates & Currency Denominations for Bonds Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

AVATRADE quotes futures contracts on many of its non–FX instruments; specified under the "Quoted Months" column of the Trading Conditions for that Instrument.

When a Futures Contract approaches its Expiry Date or First Notice Date AVA will Rollover all Open Positions to the next Tradable Contract at the time specified in the CFD Rollover Dates section of our website.

Clients with Open Positions who do not wish to have their positions Rolled Over into the Next Contract should close their positions before the Scheduled Rollover.

AVATRADE adjusts accounts with Open Positions in Maturing Instruments to ensure Clients do not Gain/Lose due to differences in Price between Old & New contracts. Clients will incur costs in relation to the Spread Cost in closing the Old contract and Opening the New Contract and a Standard O/N Premium charge.

To Calculate the Rollover AVA takes a MID Rate for the Old Contract (Current Traded Contract) and the New Contract (Next Tradable Contract) at exactly the same time before the contract closes for trading. We then calculate the Difference in Price between Contracts, adjust this for our Spread and Overnight Premium Costs, and the resulting amount is either Credited or Debited to the clients account via Premiums.

Note: There are NO other costs incurred by Clients involved in the rolling over of Futures Contracts.

Formula used by AVA for calculating a Rollover Charge:

(Amount x (New Contract Price – Old Contract Price)) + (Spread Costs*) + (Overnight Premium Costs)

*Spread Costs are calculated based on Market Spreads at the time of the Rollover Calculation.

General Rule of Thumb:

New Price < Old Price = Credit for Long Positions / Debit for Short Positions

New Price > Old Price = Debit for Long Positions / Credit for Short Positions

Example 1

For a trade of 10 Bonds on the 5 Year US T-NOTE, with a Market Price of $124.68 and a Difference in Contracts of +18 Pips ($0.18), the calculation is as follows:

Long Position: (10 x -0.18) + (-0.05 x 10) + ((1 x 124.68 x -0.005 x 1)/360)) = -1.80 + (-0.50) + (-0.02) = -$2.32
Short Position: (10 x +0.18) + (-0.05 x 10) + ((1 x 124.68 x -0.005 x 1)/360)) = 1.80 + (-0.50) + (-0.02) = +$1.28

Example 2

For a trade of 10 Bonds on the EURO-BUND, with a Market Price of €142.50 and a Difference in Contracts of -22 Pips (-€0.22), the calculation is as follows:

Long Position: (10 x +0.22) + (-0.04 x 10) + ((1 x 142.50 x -0.005 x 1)/360)) = 2.20 + (-0.40) + (-0.02) = +€1.78
Short Position: (10 x -0.22) + (-0.04 x 10) + ((1 x 142.50 x -0.005 x 1)/360)) = -2.20 + (-0.40) + (-0.02) = -€2.62

All Rollover Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All upcoming Rollover Dates for ALL Instruments can be found on the AVATRADE CFD Rollover Dates page: CFD-Rollover-Dates

AVATRADE cannot provide Rollover Adjustment Information before the Adjustment occurs, if clients do not wish to incur a Rollover Adjustment please close Open Positions in Maturing Instruments before the Scheduled Rollover.

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 1

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*

*The $0.60 is a US Dollar amount as Pips for Exchange Traded Funds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 Dow Jones U.S. Home Construction Index Fund shares, with a Spread of 7 pips (0.07), the calculation is as follows:

0.07 X 10 = $0.70*

*The $0.70 is a US Dollar amount as Pips for Exchange Traded Funds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 10 MSCI Australia Index Fund shares, with a Spread of 14 pips (0.14), the calculation is as follows:

0.14 X 10 = $1.40*

*The $1.40 is a US Dollar amount as Pips for Exchange Traded Funds are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Spreads & Currency Denominations for Exchange Traded Fund Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE is a market maker and is therefore 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 1

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 $9.25 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 2

For a trade of 10 Dow Jones U.S. Home Construction Index Fund shares, with a Market Price of $24.90 and a Margin Requirement of 5.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 24.90 x 0.05 = $12.45*

*The $12.45 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

Example 3

For a trade of 10 MSCI Australia Index Fund shares, with a Market Price of $26.10 and a Margin Requirement of 5.00%, the calculation is as follows:

Percentage Margin Requirement: 10 x 26.10 x 0.05 = $13.05*

*The $13.05 is a US Dollar amount as Margin Required is calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Current Market Rate.

All Margin Requirements & Currency Denominations for Exchange Traded Fund Instruments can be found on the AVATRADE Trading Conditions Table above.

The Exchange Traded Funds Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a position open past the End of Day time. These are displayed in the "Premium Buy" and "Premium Sell" columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT.

Formula to calculating your Daily Premium charge using the published Premiums:

Amount x Current Price x Premium Buy or Sell Rate x Number of days = Premium Charged/Paid * 360 Days

*Premium Charged/Paid is calculated in the Currency the Instrument is Denominated in.

Example 1

For a trade of 10 Financial Select Sector SPDR shares, with a Market Price of $18.50 and a Premium Buy (or Sell) rate of -2.855%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 18.50 x -0.02855 x 1)/360 = -5.2818/360 = -0.01467 = -$0.01* rounded.

*The -$0.01 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a trade of 10 Dow Jones U.S. Home Construction Index Fund shares, with a Market Price of $24.90 and a Premium Buy (or Sell) rate of -2.855%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 24.90 x -0.02855 x 1)/360 = -7.1090/360 = -0.01975 = -$0.02* rounded.

*The -$0.02 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 3

For a trade of 10 MSCI Australia Index Fund shares, with a Market Price of $26.10 and a Premium Buy (or Sell) rate of -2.855%, and subject to a charge for 1 day, the calculation is as follows:

(10 x 26.10 x -0.02855 x 1)/360 = -7.4516/360 = -0.02070 = -$0.02* rounded.

*The -$0.02 is a US Dollar amount as Premiums are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

All Premium Buy/Sell Rates & Currency Denominations for Exchange Traded Funds Instruments can be found on the AVATRADE Trading Conditions Table above.

AVATRADE includes a standard mark-up of -30 basis points on the Bid & +30 basis points on the Ask of the O/N Market Lending Rates used in calculating its Buy/Sell Premiums; these rates are updated on a regular basis. Please note that some Premium calculations include a higher mark-up.

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 1

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

All Dividend Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

Example 2

For a trade of 10 Dow Jones U.S. Home Construction Index Fund shares, with a GROSS Div. of €0.14, the calculation is as follows:

Long Position: (10 x 0.14) x 0.90 = 1.40 x 0.90 = +€1.26
Short Position: (10 x 0.14) x -1 = 1.40 x -1 = -€1.40

All Dividend Adjustments are calculated in the Currency the Instrument is denominated in. If your account is denominated in a different currency the system will automatically convert this to the Currency of your Account using the Market Rate at that time.

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.

AVAOPTIONS 的交易条件显示出金融商品(如现货价差)以及商品选择权(如期权价差)等一般的买卖价差(Pips)。标准价差就如同一般市场条件底下所载。期权价差是以一个月期平价期权为基础。

价差成本计算公式:价差 x 交易规模 = 以标价货币*计算的价差费用

*标价货币为外汇货币对中后方的货币(CUR1/CUR2:USD/JPY、EUR/USD等)。

范例

10,000 EUR/USD的现货交易,点差2.1pips(0.00021),其计算如下:

0.00021 X 10,000 = $2.10*

除非另有说明,AVATRADE身为做市商将通过买卖价差获取报酬。AVATRADE不就任何交易收取佣金。

AVAOPTIONS 的交易平台让交易人可以就商品的期权进行买卖,最典型的就是交易条件中所显示的外汇货币对。

当购买期权时,期权的成本(也称为期权费)会自账户中的自由现金扣除。自由现金即保证金以外额外的现金余额。

当卖出期权时,交易的现金会立即记入账户现金结余中。若是做空期权(卖空),任何保证金都必须与自由现金相等才行。

若账户中没有足够的自由现金作为保证金,交易不得进行。

期权费以标价货币来计算。

期权费的计算公式:价格 x 交易规模 = 以标价货币*计算的价差费用

*标价货币为外汇货币对中后方的货币(CUR1/CUR2:USD/JPY、EUR/USD等)。

范例

10,000 EUR/USD的买入期权,价格为0.00560,其计算如下:

0.00560 X 10,000 = USD 56.00

若账户的货币与标价货币不同,期权费将立即以现行当期汇率转换成账户货币,该汇率可以在未平仓合约的视窗中找到。

除非另有说明,AVATRADE身为做市商将通过买卖价差获取报酬。AVATRADE不就任何交易收取佣金。

AVAOPTIONS 的交易平台让交易人能就外汇和其他商品的现货或期权进行保证金买卖,以进行杠杆交易。AVAOPTIONS交易条件显示出保证金和杠杆的部分;保证金以百分比表示,杠杆的部分则以比例表示。

期权是种杠杆性商品,不能以保证金购买。购买期权的成本必须符合对自由现金的要求,即账户中的现金余额超出保证金的部分。同样的,期权卖出(卖空)的保证金也必须符合对自由现金的要求。

就各种商品来说(如货币对),保证金是用来应付多种情境中最恶劣的结果。特别是标的金融商品是就其保证金比例(如0.50%)而上下震动。期权和现货头寸的价值会重新计算,根据的就是这些点数和隐含波动率两个端点的中间五点:增加30%和0%。投资组合最糟的结果就作为该金融商品的保证金。

其他金融商品也是一样的。每一项商品所必要的保证金总金额即为总保证金,在AVAOPTIONS平台上,这总金额是随时显示在账户中和所有报告中。在进行任何交易的订单视窗重也可以见到保证金的金额。

AVAOPTIONS 的交易条件显示出所持仓位或在我们盘后时间所开的其他商品,所收取/支付之360天为基础的的隔夜(O/N)利率。这些利率显示在“隔夜利息– 买”和“隔夜利息–卖”的栏位中。盘后时间为22:00 GMT(格林尼治标准时间),日光节约时间期间则改为21:00 GMT。

期权的仓位不收取隔夜利息。

您可使用下列公式,以公布的利率来计算您的隔夜利息:

交易量 x 隔夜利率x 天数= 所收取/支付*的利息

                                           360 天

*所收取/支付的利息是以原货币计算;原货币即为外汇货币对中在前的货币(CUR1/CUR2:USD/JPY、EUR/USD等)。

范例

在10,000 EUR/USD的交易中,买(或卖)的隔夜利率为-1.00%,且需支付一天的金额,其计算如下:

(10,000 x -0.0100 x 1)/360 = -100/360 = -0.2778 = -€0.28*(进位后)

AVATRADE在隔夜市场放款利率上有一标准的加价,用来计算其买卖的隔夜利率,在买入上含有-30基准点的加价,而在卖出上含有+30基准点的加价;这些利率经常更新。请注意,有些隔夜利息的计算含有较高的加价。

客户需要知道客户的交易账户可能会被收取一笔闲置费,除非法律禁止。连续3个月没有使用(闲置期),并且在每一个连续的不使用期间,闲置费将会从客户的交易账户中扣除。此费用概述如下:

闲置费:

  • 美金账户:$25

  • 欧元账户:€25

  • 英镑账户:£25

此费用会定期更改。

客户需要知道客户的交易账户可能会被收取一年的管理费,除非法律禁止。连续12个月连续没有使用(年度闲置期),一笔管理费将会从客户的交易账户中扣除。此费用概述如下:这是为了抵消服务时所产生的费用,即使它可能没有被使用。

管理费:

  • 美金账户:$100

  • 欧元账户:€100

  • 英镑账户:£100

此费用会定期更改。

2/19/2017 11:43:30 AM