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 |
The fee will be 0.7% of the trade's realized profit and loss and will be reflected once your position is closed.
Calculation example:
Assuming you have an account denominated in EUR.
You open a Buy position of 1 unit on Dow Jones 30 at the price of 34,000 and close your trade at 34,050.
Dow Jones is denominated in USD, and therefore the above position would result in a profit of $50.
Since your account is in EUR a conversion must be made to reflect the gain of $50 in your account's currency.
To convert your profit of $50 into EUR, our system will automatically use the EUR/USD exchange rate at that time plus/minus the conversion fee of 0.7%.
- Let’s assume that EUR/USD ask rate at that time is 1.1730
- Profit converted to EUR without the markup = $50 / 1.1730 = €42.62
- Profit converted to EUR with the markup = $50 / {1.1730+(1.1730*0.7%)} = €42.32
Based on the above example, the conversion fee would result in €0.30
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