Charges and Income

Interest on 10+ bitcoin account balances

First Global Credit automatically pays interest on all accounts over 10 BTC in size. This is the case even if the bitcoins are being used as account margin. The interest is added to your account dailly.

Stock Trading Service: Fees & Income

We charge no artificial spread around the market price – what we trade in the market is the price you pay. Our commissions are lower than many online brokers.

Commissions – 0.1% on the value of the trade ($1/$1,000 worth of stock)

Finance Charges – Overnight positions carry a finance charge.
Overnight rate of Day 1 - 90 that a position is held: 0.023%
Overnight rate of Day 91 onwards: Fed Funds +2% (annual rate)

Stock dividends – If you hold a long position on the day a stock or stock index yields a dividend that is paid to your account minus the 30% US withholding fee. If you hold a short position on the day of a dividend yield, that is charged to your account.

ETF operating costs are covered by First Global Credit.

There is never a fee to deposit or withdraw bitcoins from your account.

Currency Switch Service: Fees

Commissions – 0.1% per trade for price makers (if you put a price into the market) and 0.2% per trade for price takers (if you take a bid or offer already displayed in the market.)

Financing – If you are net short any currency or net short of bitcoins you will be charged 0.027% per day financing charge (10% annualised). This presents a significant saving compared to the 30% or more charged on many other platforms.

Futures Trading

Commissions – Opening or closing a contract carries a commission charge of $5.00 per unit per leg.

Commission discounts – Positions opened and closed on the same day (day trading) will have a charge of $5.00 per contract to open the trade and a charge of $2.50 per contract for the closing leg of the trade. Positions where an older contract month is closed and a position established in the later month (rolling a contract) will be charged $2.50 for the closing leg of the trade and $5.00 for the second leg of the trade. These discounts will be applied as rebates to the daily trade statement.

Financing – Since you retain your bitcoins (and the growth benefit) we arrange a loan to cover the margin needed to place the trade. The overnight rate will be charged if a position is held between 23:59 and 0:00.

The overnight rate from day 1 – to day 90 is 0.023%.

The overnight rate from day 91 onwards = Fed Funds plus 2% (annual rate)

There is never a fee to deposit or withdraw bitcoins from your account.

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