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 $30 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 | $30 |
| GBP/USD | $30 |
| Rest FX | $30 |
| GOLD | $30 |
| SILVER | $60 |
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 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.
