This Product Schedule issued by AxiTrader Limited (“Axi”, “we”, “our” or “us”) should be read in its entirety. It sets out the Margin Requirements, fees and charges you will incur when dealing in our Products, the interest that you may pay or receive in respect of your Account balances, and other costs you will incur. This Product Schedule describes the various Contract specifications for the Margin FX Contracts (FX) and Contracts-for-Difference (CFDs) that we offer.
We may place a liquidation order for your open Position(s) when your Total Equity balance falls below the Liquidation Level or zero, whichever is the greater.
The Liquidation Level is 20% unless varied by us in writing.
Our commission on Premium and Elite Accounts pays for our clearing and aggregation costs, together with our cost of providing the service to you.
Commissions are charged in the Account Currency and are based on the number of standard Contracts bought or sold in each transaction. Where a fraction of a standard Contract is dealt the charge is made on a pro-rata basis.
The table below sets out the commissions payable on FX and Bullion transactions on Premium Accounts when you open a Position.
AUD
$7.00
JPY
¥850
CAD
$9.00
NZD
$11.00
EUR
€6.50
SGD
$10.00
Commissions payable on Elite Accounts may be lower than the above table.
Our transaction fees are incorporated into the bid-offer spread for each Product (our spread). Because we deal as principal, the prices we offer you may not be the same as those in the Underlying Market and may be wider or narrower.
The price offered to you may depend upon several factors including transaction size, term of the Product, our business relationship with you, the prevailing Underlying Market rates and in the case of swaps and rollovers on the differing interest rates applicable to the currency pair involved in a FX transaction.
We may remunerate a third party for introducing you to us in the form of wider spreads, commissions, or other charges payable by you.
Fees and charges apply to Contracts as follows:
Financing Charge/Benefit
Margin FX Contract, Bullion Spot CFDs, Commodity Cash CFDs, Index Cash CFDs, Cryptocurrency CFDs, Share CFDs
Rollover Charge/Benefit
Commodity Futures CFD, Index Futures CFDs
Dividend Adjustments
Index Cash CFDs, Share CFDs
The Financing fee is an adjustment reflecting the relative difference in interest rates or yield on the Underlying Instruments.
A Client Account will either be credited or debited with financing fees based on open Positions as at the close of each Business Day. Financing fees accrue in each position’s “Swap” field in MT4 and MT5 whilst a Position remains open and are credited or debited to Client Accounts when the trade is closed.
Financing fees are calculated in relation to the counter currency and are converted to and applied in the Account Currency.
Financing fees are subject to change and are available within the Trading Platform.
If you are long a Contract where the platform’s swap rate for long Positions is a positive value, you will accrue a Financing Benefit. If you are long on a Contract where the swap rate for long Positions is a negative value, you will accrue a Financing Charge.
If you are short a Contract where the platform’s swap rate for short Positions is a positive value, you will accrue a Financing Benefit. If you are short on a Contract where the swap rate for short Positions is a negative value, you will accrue a Financing Charge.
In certain interest rate market conditions, the swap rate may be negative for both long and short Positions.
We apply Financing fees daily and usually in the 30 seconds before 5pm New York close. Currency pairs will have triple daily swaps applied on either Wednesday or Thursday in order to reflect the Underlying Market Settlement Date rolling over the weekend. The Product Schedule displays, for each pair, which day triple swaps are applied.
We may not incorporate short currency holidays into the swap rate calculation but may for extended currency holiday periods, for example, Lunar New Year and Golden Week.
Swap free Accounts are not subject to Financing Charges or Benefits on FX Margin Contracts, Bullion Spot CFDs, and Cash CFDs. We reserve the right to revoke the swap-free status of any live account considered to be misused, trading in a suspicious manner, or operating outside the realms of good faith.
The principle of the Futures CFD rollover process is that traders will neither profit nor lose from the CFD rolling from the current underlying futures price to the next.
A rollover will arise in a Futures CFD when the underlying front-month futures contract is approaching the Expiry Date of the Underlying Instrument and we change our CFD pricing from the front month to the Next Serial Futures Contract.
When the new price feed takes effect, this will immediately create a gain or loss upon your open Position. This profit or loss will depend upon your Position size and direction, the price differential of the expiring and the new Underlying Instrument upon which the price will now be based.
If you keep an Index Cash CFD Position open overnight (after 5pm New York time) we will post a finance adjustment to your open trades in the form of a Financing Charge or Financing Benefit, to reflect the cost of funding your Position.
Index CFDs are made up of a group of shares that may pay dividends throughout the year. When a dividend is paid on a share, the value of the share will drop and therefore so does the value of the Index. Dividend adjustments are applied on these Products to negate the impact of the drop in Index price.
Finance rates for Commodity Cash CFDs reflect the carry cost of our liquidity sources plus our margin and will have the potential to change daily.
Finance rates for Cryptocurrency CFDs reflect the carry cost of our liquidity sources plus our margin and will have the potential to change daily.
Finance rates for Share CFDs reflect the carry cost of our liquidity sources plus our margin and will have the potential to change daily.
When a dividend is paid on a share, the value of the share price will drop. Dividend adjustments are applied on these Products to negate the impact of the drop in price.
Short Positions will be positively impacted by the drop in price, so you will be debited the dividend adjustment value. Long Positions are negatively impacted, so you are credited the dividend adjustment.
Cryptocurrencies are extremely volatile and can move or jump in price with no apparent reason due to lack of liquidity. There is little or no fundamental reasoning behind its pricing and as such trading Cryptocurrency CFDs pose a significant risk to you.
If a Cryptocurrency splits into two, new coins are created, this is known as a “Hard Fork.” We will generally follow the coin that has the majority consensus of Cryptocurrency users and will therefore use this as the basis for our prices.
A “Soft Fork” event reflects a Cryptocurrency change which influences the price but typically exhibits smaller price changes than a Hard Fork event. These events are simply passed through as an updated price of the symbol.
To deposit funds, please login to your Client Portal to view your payment options. All funds must be remitted from a bank account, card, or other account in your name.
In the event we suspect third-party funding has occurred, we reserve the right to return the funds to the remitter and retain the balance in your Account, pending verification of proof of identity and the source of funds before processing. In the absence of verification, we reserve the right to retain the balance in your Account, and you will not be permitted to withdraw the balance in your Account.
If funding exceeds monthly limits (set out in the table below) we may charge fees. For example, charges are applied for card payments and other payment methods where deposits exceed a monthly limit of US$50,000. Payments below this monthly limit and all bank transfers remain free.
Bank transfers
No limit
No fees
Card payments
More than US$50,000
3.0%
Other methods
More than US$50,000
3.0%
Note: Please be advised that your credit card provider may view payments made to us as a cash advance and that they may charge you accordingly.
To withdraw funds, please login to your Client Portal and submit a withdrawal request.
All withdrawals from your Account are subject to available funds. When processing a withdrawal request, we may require additional information to prove that the beneficiary account is under your name, as third-party remittances are not permitted.
All withdrawal requests are processed Monday to Friday during normal business hours. All requests received outside of these hours will be processed on the next Business Day.
Withdrawals are free if they are above US$50 or for the full balance of your Account. Otherwise, an administration fee of US$25 may apply.
For all international bank transfers, we require proof of identity and source of funds before processing. The corresponding bank account must be in the same name as your Account.
We cannot guarantee same-day value for receipt of funds. Processing times are subject to your bank’s processes. International bank transfers may take between 2 – 5 Business Days to be received.
Your bank may charge you a receiving fee for any international bank transfer. We are not liable for this fee, and this will be incurred by you.
If you have deposited by debit or credit card, withdrawals may be made back to the card originally used to deposit funds. Refunds usually take between 3 - 5 Business Days to appear on your card statement.
We may only be able to return up to the original deposited amount of funds back to the same credit card. We may refund excess amounts by an alternative method, which may require verification prior to payment.
We may apply administration charges for duplicate statements, telephone transcripts, audit certificates, or for other requests. Fees will be advised upon request.
We may apply charges relating to debt collection communications, agency fees and legal costs. Fees will be advised when applicable.
Inactivity Fee
We reserve the right to charge an inactivity fee where there are funds in your Account but there has been no trading activity and no open positions on your Account for a continuous period of 12 months. After 12 months of inactivity, the fee will be charged within 30 business days and deducted monthly thereafter.
The fee charged is based on your Account currency as follows:
Bank transfers
No limit
AUD
10
CAD
10
CHF
10
EUR
10
GBP
10
HKD
80
JPY
1000
NZD
10
PLN
40
SGD
10
USD
10
We reserve the right to close your Account without further notification to you, in the event your Account reaches a zero balance and there has been no trading activity on your Account for a period of 12 months.
Inactive Accounts and Server Performance
We further reserve the right to close your Account without further notice to you if your Account has a zero balance and has been inactive (no trades) for a period of 24 months or more.
We will regularly archive data on our trading platform servers (including MT4 and/or MT5 servers) to maintain server performance so your historical trade data may only be accessible for a period of 12 months. You may contact us to retrieve archived data.
Leverage
Margin requirements change dependent on leverage. The higher the leverage, the lower the margin requirement, and vice versa.
For FX and Bullion Spot contracts, the contract specification tables display the Maximum Product Leverage which is the leverage you may receive after both the symbol margin rate and Account leverage settings are considered.
The Margin Requirements for Other CFDs are not influenced by your Account leverage but may be influenced by dynamic margin tiers.
Dynamic Margin
Our dynamic margin structure reduces leverage and increases margin requirements as your open position size increases in accordance with tiers set for each Product group.
Variations
We shall always endeavour to provide notice of variations to Margin Requirements but please be aware that in some circumstances, such as unanticipated market events, advance notice may not be possible.
We may reduce your leverage when large exposure limits are offered or used by you.
The tables below show the Contract specifications which are correct as at the published date but are subject to change in accordance with the Client Agreement.
Pricing
The price of a CFD is based upon the value of the Underlying Instrument. We deal as principal therefore the prices we offer you may not be the same as those in the Underlying Market. We derive our price by applying our spread to the prevailing bid and offer price in the Underlying Instrument.
Market Hours
Trading Platform server time is based on GMT+3 when New York is observing Daylight Savings Time and GMT+2 when New York is observing Eastern Standard Time.
For non-US time zones their local and New York daylight savings changes will affect the sessions times relative to Trading Platform server time.
Min and Max Trade Size (Lots)
The minimum and maximum trade sizes quoted in the contract specification tables are indicative of our typical default. We may at times elect to change the maximum sizes for some symbols. We reserve the right to increase or reduce these at our discretion where we feel market conditions or other factors warrant it.