FXOpen Reduces SWAP on Crypto Accounts down to 10%
FXOpen is glad to announce, that we have reduced SWAP for Crypto accounts from 18% down to 10% per annum.
Crypto-accounts from FXOpen offer traders the opportunity to trade the most popular cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Dash (DSH), Ripple (XRP), Monero (XMR), IOTA, EOS, NEO, OMNI in the form of CFDs without having to hold any cryptocurrency directly.
Other benefits of Crypto-accounts include:
- True ECN environment without the conflict of interest between the trader and the broker;
- Low spreads and commissions;
- No limits on hedging, scalping and all kinds of Expert Advisors to automate your strategy;
- Deposits and withdrawals in major FIAT and cryptocurrencies with low commission.
How to calculate SWAP? SWAP is the fee that the broker charges when a position remains open overnight. On the night from Wednesday to Thursday triple SWAP is charged. Unlike FIAT accounts, in Crypto accounts SWAP is calculated in percent per annum. Since swaps need to be calculated every day at the end of the trading session, the amount of the annual interest rate is divided by 360.
SWAP=Order volume in lots * average price of the instrument at the time of calculation * SWAP in % per annum /100/360
For example, your trading account is in USD, you open a position BUY BTCUSD, 2 lots at 8050.00 USD per 1 BTC.
SWAP will be calculated as follows: 2*8050.00*10/100/360 = 4.47 USD
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