Skilling charges a Currency Conversion Fee for all trades on instruments denominated in a currency different from the currency of your account.
Example:
| Account Currency | Traded Symbol | Conversion Fees | Reasoning |
| USD | EURGBP | Yes | EURGBP is quoted in GBP while the account's base currency is in USD |
| USD | EURUSD | No | EURUSD is quoted in USD which is the same as the account's base currency |
| EUR | EURUSD | Yes | EURUSD is quoted in USD while the account's base currency is in EUR |
Fee Details:
- The fee is 2% of the trade's realized profit and loss.
- It is reflected once your position is closed.
Calculation Example:
Assume your account is denominated in EUR.
- You open a Buy position of 1 unit on Dow Jones 30 at a price of 34,000 and close the trade at 34,050.
- Dow Jones is denominated in USD, resulting in a profit of $50.
- Since your account is in EUR, the profit must be converted to EUR.
Conversion Calculation:
- EUR/USD ask rate at the time: 1.1730
- Profit without markup: $50 / 1.1730 = €42.62
- Profit with markup: $50 / [1.1730 + (1.1730 * 2%)] = $50 / 1.196446 = €41.79
- Conversion fee: €42.62 - €41.79 = €0.83
Based on this example, the conversion fee results in a charge of €0.83.
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