Charges and Income

Interest on 10+ bitcoin account balances

We automatically pay interest on bitcoin accounts over 10 BTC not being held in a Xapo wallet. The interest is paid on the entire account whether or not the bitcoins are being used to finance a stock market, futures or currency trade.
(Traders with over 100 BTC on the site can request that some of their capital be held in a multisig Xapo wallet.)

US 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. 

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.

UK and German 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: UK stocks - Libor +2% (annual rate) German stocks - Euribor Funds +2% (annual rate)

Stock dividends – If you hold a long position on the day a stock or stock index yields a dividend that will be paid to your account. If you hold a short position on the day of a dividend yield, that is charged to your account.

Hong Kong 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 (HKD1/HKD1,000 worth of stock)
SFC Transaction Levy - 0.0027% (on each leg of the trade)
Stamp Duty - 0.1% (on each leg of the trade)

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: the HKD HIBOR (overnight rate).+2% (annual rate)

Stock dividends – If you hold a long position on the day a stock or stock index yields a dividend that will be paid to your account. 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.

Deposits and Withdrawals

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 fiat currency vs bitcoins you are charged 0.055% per day financing charge. If you are short bitcoin vs fiat currency you are charged a reduced fee of 0.014% per day financing charge.

XAI Trading: Fees

No commission to buy XAI until November 15, 2017
Commissions to sell XAI follow the regular First Global pricing policy. 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.) 

Futures Trading

Special conditions There is currently a limitation of $25,000 exposure to any one futures contract. Clients breaching these limits will have their positions closed to bring them in line with this limitation.

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)


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