On the CEX.IO Broker, we have two types of commissions - Open and Rollover.
Open fee is the interest paid by a trader, who uses leverage, to open a position. Since leverage implies the use of collateral funds, some interest has to be paid to the provider of these funds.
At CEX.IO Broker the amount is 0.05% from the position size.
Rollover rate is interest paid by a trader for keeping a position open for the next predetermined period of time. In our case, this is the amount of 0.03% from the position size every 4 hours.
Important to know!
Open fees do not affect your working orders. It will be charged only in case your open order will be filled and the position will be open.
Moreover, fees are being deducted from the account balance, not from the position outcome, so even in case if your position is profitable, it still can be closed due to the lack of funds to pay for Rollover Fee.
- Open Fee
Let's say you want to open a position for 1 BTC for 7000 EUR. In order to open it, you need to pay Open Fee, which will be (7000/100%)*0.05%=3.5 EUR. This amount will be deducted from your balance.
2. Rollover Fee
Your position stays open for 4 hours. When the 5th hour starts, the system automatically deducts 0.03% (7000/100%)*0.03%= 2.1 EUR) from the account balance.
However, if the position stays open for less than 4 hours, Rollover Fee will not be charged.
IMPORTANT TO KNOW!
As the fees are being determined in percent, the actual amount of fee may be different for the same quantity of the asset due to the price fluctuation and, as the result, change in its value.