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Plus500 will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The Currency Conversion Fee will currently be up to 0.7% of the trade’s realised net profit and loss and reflected in real time into the unrealised net profit and loss of an open position.
To learn how the Currency Conversion Fee is calculated, please follow the example below:
Your trading account is denominated in EUR and EUR/USD rate is 1.10101.
You open a 500 USD Meta sell position and make a loss of -$10 (-€9.08).
In this example, we will charge a daily Overnight Funding Fee, for holding your position open after a certain time, and a Currency Conversion Fee.
The daily Overnight Funding Fee will be -$0.1 (-€0.09) i.e. 1 contract x Price of $500 x daily Overnight Funding percentage of -0.02%.
The Currency Conversion Fee will be 0.7% of your position’s net loss i.e. (-$10 - $0.1) * 0.7% =-$0.07 (-€0.064)
Overall Net loss = - $(10+0.1+0.07) = - $10.17 (-€9.24)
The Currency Conversion Fee percentage may be changed from time to time.
Plus500 does not claim to be an official academic institution that has received recognition from any country/government.