There are diversity of fees in financial field. Brokers are no exclusion here, they can impose additional costs on almost every move of customer.
That is why the soft policy of fees and especially low level of their sums is the advantage of Olymp Trade, among others, which traders appreciated. Here, we will inform you about the platform’s fees presented on Olymp Trade trading system.
Deposit And Withdrawal Fee
A very few brockerige companies that does not charge this kind of fee from users for deposits or withdrawals. The Olymp Trade is the one of these rare companies.
Traders get acquainted with this type of payment first of all. For example, some companies can charge about $ 50 for replenishing a brokerage account by bank transfer. Such strict conditions make it absolutely unprofitable to trade with a deposit of less than a few thousand US dollars.
But you should remember about many payment and banking systems charge a fee for any funds moving. Therefore, we advise that you ask question about both deposit and withdraw fee to your bank or payment system support.
Trades Fee
The fee for making a transaction in Forex relates on follow things:
– Transaction amount
– Multiplier
– Market condition
– Specific conditions
The top two arguments determine the position capacity. For instance, when you plan to trade a $ 100 at x500 multiples, the total size will be $ 50,000, and the fee will be estimated based on this sum.
The current trade fee sum is shown where the trade button is placed. Despite this, the final payment may vary a little due to the variability of the context.
The fee limit is determined in the asset spec, which is specific technical paper that you may find on the webpage of Olymp Trade.
Closing Fee
This type of payment is now practically not found anywhere, but if your broker still works according to the rules from the 80s, come to Olymp Trade. You will definitely not meet such kind of fee with us.
Commission for Transferring a Position In a Day – Overnight Fee
This fee is imposed on those transactions where leverage or multiplier is used. In the classic trading, this swap was calculated based on the difference in bank interest rates of the countries whose currencies formed a pair.
At Olymp Trade, this payment is standardized and estimated without considering to compound interest. A fixed fee from the spec is taken as a basis, and its size is limited to 15% of the investment in the transaction.
Account Service Fee
Annual maintenance charge are standard thing for banking cards holders. Brokeredge companies as well use this fee or its derivatives: for example, payment of a depository, maintenance of a personal account, registration of securities on a broker’s balance sheet, etc.
All this is not applying at Olymp Trade. The only fee that is used on the platform is the subscription fee for inactivity.
This fee applies in case the user made not any real account transaction, as well as either deposits nor withdrawals within 6 months Then the platform charge $ 10 from the account every month.
In the absence of real funds and the presence of bonuses, all bonus money will be canceled. However, if there is 0 on the client’s balance, then nothing will be charged.
As we can see, there are few fees charged at Olymp Trade. Their formation is understandable and strictly regulated by technical conditions, so many traders never have questions on this topic. And if you still have them, please contact our technical support service and get the answers. Successful trading!