expand/collapse risk warning

CFDs come with a high risk of losing money rapidly due to leverage. 71% of accounts lose money when trading CFDs with this provider. You should understand how CFDs work and consider if you can take the risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

76% of retail investor accounts lose money when trading CFDs with this provider.

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  1. Skilling
  2. Commissions and swap charges

Trading Fees and Charges

Skilling clients can expect commission charges only on FX pairs and Spot Metals on the Premium account type. All clients pay "trading fees" (commission) on crypto trades.

Our FX and Spot Metal charges start from $35 per million USD traded. Taker fees (commission) on crypto start from 0.1% of the value of the position. If the base currency of the account is other than USD, the charge is converted to the respective currency.

Financial Instrument Commission per million
EUR/USD $35
GBP/USD $40
Rest FX $50
GOLD $60
SILVER $120

Commission calculation formula

Commission = Trade size in base currency * (USD conversion rate * $x per USD million traded) * Account currency exchange rate

Example 1

You are trading 100,000 GBP/USD - Account currency EUR

Step 1 Conversion of trade size from base currency to USD
100,000 GBP * 1.2846 (GBP/USD rate) = 128,460 USD
Step 2 Calculate commission charges in USD ($50 per USD million traded)
128,460 USD * 0.000050 = 6.42 USD
Step 3 Convert commission charges from USD to EUR (account currency)
6.42 USD / 1.1025 (EUR/USD rate) = 5.82 EUR

Example 2

You are trading 100,000 EUR/USD - Account currency USD

Step 1 Conversion of trade size from base currency to USD
100,000 EUR * 1.1025 (EUR/USD rate) = 110,250 USD
Step 2 Calculate commission charges in USD ($35 per USD million traded)
110,250 USD * 0.000035 = 3.85 USD
Step 3 No further conversions are needed since the base account currency is in USD

* Please note that tax commissions apply to Premium account types only when opening and closing the position

Swap Charges

At the end of each trading day (22:00 GMT), positions held in your account may be subject to a charge called “swap or rollover”. The cost can be positive or negative, depending on the direction of your trade and the applicable rate. You are also able to see the expected charge or credit on your Trade Ticket. The swap is charged automatically and is converted into the currency that the account is denominated in. The swap is calculated and charged once every weekday for 1 day rollover, with the exception of Wednesday, when it is calculated and charged 3 times to the account for the weekend.

Swap charges on Forex / Spot Metals

For Forex pairs, the cost or income is calculated as the interest rate differential between Tomorrow Next Deposit Rates (TNDR) of the 2 currencies in question, plus the markup charged by the Company on which the position is held and depending on the type of position (Long / Short). Clients may either gain or lose on swap, thereby having either positive or negative rollover, respectively. It is possible that some instruments may have negative rollover values on both sides as a result of commission being added on top of the overnight interest rate differential of the two currencies.

Forex Swaps are calculated using unified equations as below:

Swap = (Pip Value * Swap Rate * Number of Nights) / 10

Where:
Pip Value: 10 for all Forex pairs with the exception of JPY, HUF and THB pairs which where the pip value is 1000 and RUB & CZK pairs where pip value is 100
Number of nights: the total amount of nights the position is kept open.

The result is divided by 10 because the swap charges are quoted in cents.

Swap Charges on Indices

Swap rates for index CFDs are based on the underlying interbank rate of the index plus company’s markup and are calculated using unified equations as below:

Swap Long = (Units * Price) * (Markup + Libor) / 365
Swap Short = (Units * Price) * (Markup - Libor) / 365

Where:
Units: the total number of units bought / sold in the trade
Price: price of index
Libor: the 1-month Libor rate of the quoted currency
Markup: 3.5% on the Buy and 3% on the Sell

*Markup for Premium accounts is 2.5%

Swap Charges on Shares

Swap rates for shares CFD’s are based on the underlying interbank rate for the currency of the relevant share plus company’s markup and are calculated using unified equations as below:

Swap Long = (Units * Price) * (Markup + Libor) / 365
Swap Short = (Units * Price) * (Markup - Libor) / 365

Where:
Units: the total number of units bought / sold in the trade
Price: price of the share
Libor: the 1-month Libor rate of the quoted currency
Markup: 4% on the Buy and 3% on the Sel

*Markup for Premium accounts is 3.5% (Buy) and 2.5% (Sell)

Currency Conversion Fees

Skilling will charge a Currency Conversion Fee for trades on instruments denominated in a currency different to the currency of your account.The Currency Conversion Fee will be reflected into your realized Profit and Loss. You can read more about this here.