Kaupankäyntiehdot

Termien selitys: *taulukon otsikoista

  • Instrumentti – Valuuttapari tai CFD-kaupan varsinainen kohde.
  • Maa – Maa, jossa osake tai arvopaperi sijaitsee.
  • Eräkoko – Jokaisen kaupankäyntialustan eräkoko (Huom: AvaTraderin eräkoko merkitsee minimieräkokoa. MT4:n eräkoko merkitsee standardieräkokoa).
  • Standardi palkkio-osuus –TARJOA ja PYYDÄ -hintojen ero jokaisen instrumentin kohdalla normaaleissa markkinaolosuhteissa.
  • Vipu – Marginaalin käyttö kaupan käymiseksi suuremmalla pääomalla. Vipu voi merkittävästi nostaa niin tappioita kuin voittojakin.
  • Erän marginaali – Jokaisen instrumentin yhden erän avaamiseen tarvittava marginaali (Huom.: Se on ilmoitettu viitteellisenä).
  • Arvonmuutos – Jokaisen instrumentin hinnan minimiliike.
  • Yliyönkorko Myy/Osta – Jokaisen instrumentin yliyönkorko, joka on veloitettu/hyvitetty vuosittaisilla prosenttiehdoilla.
  • Kauppa-aika – Aika, jolloin tietyn instrumentin kauppa on mahdollinen.
  • Kuukausimäärä – Futuurisopimuksien kuukaudet, jotka ovat kaupankäynnin kohteen AvaTraden kaupankäyntialustoilla.
  • Pörssi – Sijoituskohteen pörssi.
  • Yksiköt – Jokaisen eräkoon yksikkö.

Riskivaroitus:

CFD-kauppa marginaaleilla sisältää korkean riskitason, joten se ei ehkä sovellu kaikille sijoittajille.

KAUPANKÄYNTIKULUT:

Kaikki tällä sivustolla ja kaupankäyntialustoilla suoritetut kaupat ovat seuraavien mahdollisten kulujen alaisia:
  • PALKKIO-OSUUDET
  • YLIYÖNKORKO
  • ERÄÄNTYNEEN KAUPAN ROLLOVER
  • LIIKETOIMET
  • KÄYTTÄMÄTTÖMYYSMAKSU
Katso alta yksityiskohtaisia laskelmia jokaisen instrumenttityypin kuluista:

Palkkio-osuudet (spreadit):

  • Spreads:

    1. Kaikki palkkio-osuudet ovat markkinahinnan yllä.
    2. Valuutan standardit palkkio-osuudet ovat voimassa  Normaaleissa markkinaolosuhteissa.
    3. Kullan ja hopean palkkio-osuudet voivat olla ilmoitettua korkeampia noin 22.00–02.00 GMT välisenä aikana.
    4. Raakaöljyn ja Brent-öljyn palkkio-osuudet voivat olla ilmoitettua korkeampia noin 22.00–05.00 GMT välisenä aikana.
    5. Raakaöljyn ja luonnonkaasun palkkio-osuudet voivat olla korkeampia viikkoinventaarioiden aikoina.
    6. 1 PISTEEN VALUUTTAPARIT = 0,0001; 1 PISTEEN JPY-valuuttaparit = 0,01.
    7. Valuutan vaihtelevat palkkio-osuudet: tyypilliset palkkio-osuudet ovat vain viitteellisiä ja voivat nousta markkinavaihtelujen vuoksi.
    8. Valuutan vaihtelevat palkkio-osuudet: tyypilliset palkkio-osuudet johdetaan edellisen kvartaalin samojen palkkio-osuuksien keskiarvosta kauppatuntien aikana (07.00–18.00 GMT).
    9. Valuuttaoptioiden palkkio-osuudet näyttävät tyypilliset tarjous-palkkio-osuudet yhden kuukauden at-the-money-optioille normaalien markkinaolosuhteiden aikoina.
    10. Valuuttaoptioilla voi käydä kauppaa verkossa aina viimeiseen 24 tuntiin asti ennen niiden erääntymistä.
    11. Valuuttaoptiot erääntyvät kaupankäyntialustalla merkittynä aikana, joka on kello 10.00 New Yorkin aikaa.
    12. Kaikki valuuttaoptiot ovat eurooppalaistyyliset vanilla-optiot. Kaikki erääntyneet in-the-money-optiot suljetaan automaattisesti niiden itseisarvolla.
    13. FX Options trading is not currently available for EU customers.
  • Yliyönkorot

    1. Kaikki yliyönkorot ovat viitteellisiä ja voivat muuttua.
    2. MT4:n valuutta-, kulta- ja hopeapositiot: lauantain ja sunnuntain väliset yliyönkorot veloitetaan/hyvitetään edeltävänä keskiviikkona.
    3. MT4:n valuutat poissulkevat (kultaa ja hopeaa lukuun ottamatta) positiot: lauantain ja sunnuntain väliset yliyönkorot veloitetaan/hyvitetään edeltävänä perjantaina.
  • Marginaali:

    1. Marginaalivaatimukset voivat nousta position koon mukaan.
  • Kaupankäyntiajat:

    1. Kaupankäyntialustat voivat avautua tai sulkeutua muutama minuutti merkittyjen aikojen jälkeen tai niitä ennen. Tämä riippuu yksittäisistä pörsseistä, joilla sopimuskauppa käydään.
    2. Kaupankäyntiajat voivat muuttua kesä- tai talviaikaan siirtymisen myötä.
  • Maksimikaupat/Käskyt:

    1. MetaTrader-tilit rajoittavat avoimien ja keskeneräisten yhtäaikaisten kauppojen määrän yhteensä 500:aan.
    2. MetaTraderin minimi nimelliskauppakoko = 0,01.
  • Bitcoin / Litecoin:

    1. Viikoittaiset *Bitcoin ja *Litecoin erääntyvät viikoittain. Joka viikko kaikki AVOIMET positiot SULJETAAN markkinahinnalla perjantaisin kello 21.00 GMT.
    2. **Bitcoin Mini ja **Litecoin Mini – ei kauppaa viikonloppuisin; ei erääntymistä

Pääsysi sivustolle ja/tai kaupankäyntialustalle ja näiden käyttö vaatii näiden käyttöehtojen ja muiden lainmukaisten säännösten ja tiedotteiden hyväksymistä. AvaTrade voi muuttaa käyttöehtonsa koska tahansa ilman ennakkoilmoitusta. Sivustomme ja kaupankäyntialustamme jatkuva käyttö vaatii myös käyttöehtojen muutosten hyväksymistä.

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 

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*

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 

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 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 "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 Amount x Overnight Interest x Number of days = Overnight Interest Charged/Paid*

                                          360 Days

*Overnight Interest 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 

For a 1,000 EUR/USD Trade, with a an Overnight Interest 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 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 

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*


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 

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 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 "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 Amount x Overnight Interest x Number of days Overnight Interest Charged/Paid*
                                           360 Days

*Overnight Interest 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

For a 1,000 EUR/USD Trade, with an Overnight Interest 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 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 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 

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 360 day 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 Current Market Price x Overnight Interest x Number of days

                                           360 Days

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 a Market Price of $98.00 and an Overnight Interest 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.


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 Overnight Interest 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 Interest Costs, and the resulting amount is either Credited or Debited to the clients account via Overnight Interest.

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 Interest 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 

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


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*


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 

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 360 day 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 Current Market Price x Overnight Interest x Number of days

                                           360 Days

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 a Market Price of $1400 and an Overnight Interest 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.

 

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 Overnight Interest  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 Interest Costs, and the resulting amount is either Credited or Debited to the clients account via Overnight Interest.

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 Interest 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 

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


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 

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 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 

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 360 day 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 Current Market Price x Overnight Interest x Number of days

                                           360 Days

Overnight Interest Charged/Paid*

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

Example 

For a trade of 1 APPLE share, with a Market Price of $500 and an Overnight Interest 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.

 

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 

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


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 

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 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 

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 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 "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 Current Market Price x Overnight Interest x Number of days

                                           360 Days

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 a Market Price of $1400 and an Overnight Interest 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.

 

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 Overnight Interest 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 Interest Costs, and the resulting amount is either Credited or Debited to the clients account via Overnight Interest.

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 Interest 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 

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


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 

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 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 

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 360 day 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 Current Market Price x Overnight Interest x Number of days

                                           360 Days

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 a Market Price of $18.50 and an Overnight Interest 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.

 

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.

The AVAOPTIONS Trading Conditions display the Typical Bid-Ask Spreads (Pips) for Instruments (Spot Spread) as well as for Options on the Instruments (Option Spread). Standard Spreads are as stated under Normal Market Conditions. Option spreads are based on 1-month at-the-money options.

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

For a 10,000 EUR/USD Spot Trade, with a Spread of 2.1 pips (0.00021), the calculation is as follows:

0.00021 X 10,000 = $2.10*

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

The AVAOPTIONS Trading Platform allows traders to buy and sell options on Instruments, typically FX pairs, as shown in the Trading Conditions.

When purchasing an option, the cost of the option (also called the Option Premium) is deducted from the account cash balance, using free available cash. Free available cash is the cash balance that is in excess of the Required Margin.

When selling an option, the cash proceeds of the sale are immediately credited to the account cash balance. If writing an option (selling an option short), any required margin must be met from free available cash.

If the account does not have sufficient free available cash to meet the required margin, the trade will not be executed.

Option Premium is quoted in Price of the Second Currency.

Option Premium Formula: Price x Trade Size = Cost in Secondary Currency*

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

Example

For a 10,000 EUR/USD CALL OPTION offered at 0.00560, the calculation is as follows:

0.00560 X 10,000 = USD 56.00

If the Account Currency is not the same as the Second Currency, the Option Premium will be immediately converted into the Account Currency at the prevailing spot rate, which can be found in the Open Positions window.

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

The AvaOptions platform calculates required margin according to the riskiness of the portfolio, applying standardized stresses to each currency pair using a system known as SPAN, for Standardized Portfolio Analysis.
We divide customer portfolios by currency pair, and evaluate portfolio values for each currency pair under 16 scenarios:
 Underlying PriceVolatility% of Risk
1Down Margin%Up100%
2Down Margin%Down100%
3Down 2/3 Margin%Up100%
4Down 2/3 Margin%Down100%
5Down 1/3 Margin%Up100%
6Down 1/3 Margin%Down100%
7UnchangedUp100%
8UnchangedDown100%
9Up 1/3 Margin%Up100%
10Up 1/3 Margin%Down100%
11Up 2/3 Margin%Up100%
12Up 2/3 Margin%Down100%
13Up Margin%Up100%
14Up Margin%Down100%
15Up 2 * Margin%Unchanged35%
16Down 2 * Margin%Unchanged35%
Scenarios 1-14 evaluate the portfolio with volatilities higher and lower at seven spot levels. For a currency pair with a spot margin requirement of 1%, the spot levels are -1%, -.67%, -.33%, Unchanged, +.33%, +67%, and +1%.
Scenarios 15 and 16 move spot up and down by double the margin requirement (e.g. 2%), and take 35% of the observed portfolio change as risk. These scenarios are designed to capture risk of options that are further out of the money, without impacting margin for spot positions.
The greatest portfolio loss observed in these 16 scenarios is taken as margin for that currency pair. The sum of margin for each currency pair is the total Required Margin.
One may note that for a portfolio of spot positions, the margin under SPAN is equal to the Margin% times the total spot position, identical to most spot trading platforms, and neither implied volatilities nor scenarios 15 and 16 have any impact.
Each option’s implied volatility is moved up and down according to the following formula:
Vol Shift = Volatility Factor X Max( Implied Vol, Minimum Vol)

Implied Vol = the current mid-market implied volatility of the option

Minimum Vol = 10%

Table of Volatility Factors:
Days to ExpirationG10EM
731%41%
1422%29%
3015%20%
909%12%
For example, a 2 week G10 option implied volatility is shifted +/- 22%, with a minimum move of 2.2 vol. For a 6 month option, vol is bumped +/- 9%, with minimum move of 0.9 vol.
The Volatility Factor normalizes volatility of volatility, as a 1 week option's implied volatility can move more drastically than can that of a 1 year option. Its math is as follows:
Volatility Factor = SQRT( 30/ADTE ) * Reserve ADTE = Days to Expiration, with minimum of 7 and maximum of 90. Reserve = 15% for G10 currency pairs, and 20% for pairs including one or more emerging market currencies.

The AVAOPTIONS Trading Conditions display the Over-Night (O/N) Interest Rates Charged/Paid on a 360 day basis for holding a spot position or other instrument open past our End of Day time. These rates 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.

Overnight Interest is not charged for any options positions.

You can use the following formula to calculate your Overnight Interest amount using the published rates:

Trade amount x overnight interest rate x number of days = Interest Charged/Paid*

                                           360 Days

*Interest 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

For a 10,000 EUR/USD Trade, with a an Overnight Interest Buy (or Sell) rate of -1.00% and subject to a charge for 1 day, the calculation is as follows:

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

Customer acknowledges that the Customer's trading account may be subject to an inactivity fees unless prohibited by law. After 3 consecutive months of non-use ("Inactivity Period"), and every successive Inactivity Period, an inactivity fee will be deducted from the value of the Customer’s trading account. This fee is outlined below and subject to client relevant currency based account:

Inactivity Fee:

  • USD Account: $25

  • EUR Account: €25

  • GBP Account: £25

Applicable fees subject to change periodically.

Customer acknowledges that the Customer's trading account may be subject to an annual administration fee unless prohibited by law. After 12 consecutive months of non-use ("Annual Inactivity Period"), an administration fee will be deducted from the value of the Customer’s trading account. This fee is outlined below and subject to client relevant currency based account: This is to offset the cost incurred in making the service available, even though it may not be used.

Administration Fee:

  • USD Account: $100

  • EUR Account: €100

  • GBP Account: £100

Applicable fees subject to change periodically.