With today's update we enabled overnight financing costs for holding positions overnight. This is a crucial change for expanding the number of our markets in the near future. We try to keep our rates as low as possible starting at only 0.0077% per day!
Overnight Financing costs are industry standard, and are employed by almost all brokers. The necessity behind these fees comes from the process of hedging your trades in the underlying markets.
You can find all informations about overnight financing on our fees page.
Are positions affected which were opened before 2014-09-20?
No, currently not. We have a transition phase until 2014-10-20 where old positions are not affected by financing costs. After 2014-10-20 all positions are subject to overnight financing.
Is this really necessary or are you just trying to maximize your profits?
It is absolutely necessary! With the current volume and amount of tradable assets we reached the limit to hegde positions in a profitable way. Financing costs allow us to add new markets and handle new traders.