Due to changes to trading conditions as of 7 June 2021 and in accordance with the Service Agreement and clause 3.16 of The Specifics of Trading Operations Execution in MetaTrader4 Trading Terminal, a conversion fee is now charged.
A conversion fee is a fee charged on a closed position. It is combined with the fee for opening a position.
This fee is charged only if the trading account's currency is different from the currency in which the base asset is priced.
The conversion fee is set at approximately 0.0001% and is reflected and charged after closing a position.
The formulas for calculating the fee vary depending on the instrument and its base currency specified in the settings and the direction in which the position was opened (Buy or Sell). The trading volume in USD affects the size of the fee.
Here is an example of a calculation of a currency conversion fee:
A short position in GBPUSD, 0.1 lot, contract size 100,000, opening price 1.41180, conversion fee 0.0001%.
Conversion fee = 0.1 lot* 100,000 * 1.41180 * 0.0001% = $0.014118 ≈ $0.014, which means that only $0.01 will be charged.
The currency conversion fee is calculated in USD. The fee amount is then rounded to two decimal places according to mathematical rounding rules.