Trading Costs & Charges

    Understanding the transaction costs associated with your trading

    Trading Costs With Ultimate Transparency

    Check out our competitive spreads below

    • BX Zero
    • BX Standard
    • BX Cent

    1. Positions that are held open for the next trading day (past 00:00 server time) will incur swap charges. The swap charges are calculated on the basis of interest rates difference of two currencies in the instrument. In the MT5 terminal, “swap” is automatically converted into the deposit currency of the account. Swaps values may be adjusted daily based on market conditions. For the latest swap values, please check the specifications in the MT5 terminal.

    2. Clients are advised that during the time period from 23:55 to 00:05 server time, spreads may increase and liquidity might decrease due to daily bank rollover. In case of inadequate liquidity and wider than normal spreads, slippage may occur. In addition orders may not be executable during these times.

    What are forex spreads?

    As you start trading in the market, you may have noticed that you are provided two prices - an ‘ask’ (or ‘buy’) price and also an ‘bid’ (or ‘sell’) price. The ‘ask’ price is the rate at which you sell the base currency, and the ‘bid’ price is the rate at which you will buy the base currency. The difference between these two prices is referred to as the ‘spread’.

    When you enter the market and open a trade, there are always third parties who facilitate the opening and closing of that trade, such as a banking institutions or liquidity providers. These intermediaries ensure there is an orderly flow of buy & sell orders, this means they are tasked with the responsibility of matching each seller to a buyer, & vice versa.

    The third party is accepting the risk of a potential loss while facilitating the trade, thus the reason why the third party will retain a part of each trade transacted—that retained portion is what we understand as the ‘spread’.

    How do you calculate the spread?

    The spread is measured in ‘pips’, which is the smallest unit of price movement of a currency pair. As you can see, the spread in the below example is 0.2 pips (difference between ask/buy price of 1.12161 and bid/sell price 1.12159).

    How do you calculate your transaction cost?

    You can use the following calculation to figure out the cost of a trade itself (not including swaps or commissions). This is done by taking the spread and pip value, then multiply it by the number of lots that you are trading:

    Trade Cost = Spread x Trade Size x Pip Value

    For instance:
    Let's say you open a trade that has a spread of 1.2 pips spread. For this example, you are trading with mini lots (or 0.10 lot), which is equivalent to 10,000 base units.

    The pip value is at $1.00 for mini lots, thus the transaction cost is $1.20.

    Therefore the total cost is:

    $1.20 (Trade Cost) = 0.00012 pips (Spread) x 10,000 (Trade size) x $1.00 (Pip value)

    As you probably know, the larger the trade, the bigger your transactions costs will be.

    For more information about pip values, please visit our guide here

    Commissions: Raw Spread Commission Rates

    Check out our commission rates below

    The Baxia Markets Bx Zero ECN Account is a raw spread account with the lowest commission. Baxia Markets clients can expect commission charges only on FX pairs on the MT4 & MT5 trading platforms.

    Trading Account Currency Commission
    USD USD 2.5 per side per 100,000 traded
    EUR EUR 2.5 per side per 100,000 traded
    JPY JPY 250 per side per 100,000 traded
    GBP GBP 2 per side per 100,000 traded

    What are Swaps?

    To put simply, Forex Swap/Rollover is an overnight interest earned or paid for holding a position open overnight in FX trading, and it’s calculated based on whether your open positions are long or short. 

    Where to Find Swaps & How are Swap Rates Calculated?

    Check out how to view and calculate swap rates below

    You will be able to view the latest swap rates in your MetaTrader 4 & MetaTrader 5 trading terminal by following the process outlined below. 

    Open MT4/MT5 >> Right Click on any instrument you want to check in the “Market Watch” section >> Left Click on “Specialization” >> A new window will open that shows the long and short swap rate for the pair selected.

    The formula we use for calculating the swap charge for Forex pairs is the following:

    Swap (in base currency) = Swap Rate x Lots (Volume) x Number of Nights

    Important Swap Facts to Know

    • Swaps are applied only when positions are kept open until the next forex trading day.

    • Rollover interest is applied to a trader’s trading account on each trading day at 5 p.m. Eastern Standard Time, which is 00:00 MetaTrader 4/MetaTrader 5 server time. On Wednesday, rollover is charged triple rated due to market close on Saturday and Sunday.

    • Our rollover rates are posted every day and available within the trading platform.

    • Each currency pair has its own swap charge and is measured on a standard size of 1.0 lots (100,000 base units).

    • Rollover rates are updated on a weekly basis the next forex trading day.

    To learn more about swaps, please visit our guide here.

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