Online Trading

COMMISSION CHARGES MARGIN SCHEDULE

MINIMUM ACCOUNT SIZE

EUR 1,000 (or Equivalent) for a HMS Trader online Trading account

INTEREST ON FUNDS DEPOSITED ON A HMS TRADER ONLINE ACCOUNT INTEREST ON MAIN AND SUB-ACCOUNTS

Interest on your main account is calculated on the Net Free Equity and interest on your sub-accounts is calculated on the Account Value.

However since the Net Free Equity is calculated on open trade positions on all your accounts it is important to make sure that sufficient cash is available on your main account. Otherwise you risk being subject to a debit interest on your main account exceeding the credit interest payable on your sub-account(s).

NET FREE EQUITY

Net Free Equity is defined as:

The cash balance on the main trading account Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs and futures on the main trading account Minus the value of the funds used for margin requirements

ACCOUNT VALUE

Account Value is defined as:

The cash balance on the individual sub-account Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs and futures on the sub-account

INTEREST RATES

The following interest rates apply to funds deposited on a HMS Trader online Trading account:

interest will be paid at LIBID minus 1% on the net free equity
interest will be charged at LIBOR plus 1% on the net free equity

CALCULATION AND SETTLEMENT

Interest will be calculated daily and settled monthly - within 7 business days after the end of each calendar month.

POSITIONS HELD UNTIL THEIR VALUE DATE

Open Spot Forex positions held at the end of the business day, (17:00 New York time) before their value date, will be rolled over to a new value date on a Tom/Next basis.
As part of the Tom/ Next roll over operation, positions are subject to a swap charge or credit (swap points), which reflects the interst rate differential of the traded currency pair.
The swap points are based on a Tom/Next swap feed from a tier one bank with an added mark up of +/- 0.25% based on the overnight interest rates (Reuters Contribution feed), plus an interest component of +/- 0.75% for any unrealised P/L on the position based on the same interest rates.

PRODUCT TRADING RATEs, CONDITIONS AND FREQUENTLY ASKED QUESTIONS

See our Forex trading ratesSee our Forex conditionsSee our Forex Frequently asked questionsSee our CFD trading ratesSee our CFD conditionsSee our CFD Frequently asked questionsSee our Stock trading ratesSee our Stock conditionsSee our Stock Frequently asked questionsSee our Futures trading ratesSee our Futures conditionsSee our Futures Frequently asked questions

CFD INTEREST AND ACCRUAL RATES

If you hold a CFD after the stock market closes, you are subject to a financing fee or accrual:

When you buy a CFD, you are subject to a financing charge at the Inter-Bank Offer Rate for the currency in which the share is traded (e.g. LIBOR plus 3.25%)
When you short sell a CFD, you receive an interest accrual at the Inter-Bank Bid Rate for the currency in which the share is traded (e.g. LIBID minus 2.75%)

If you open and close a CFD position within one trading day, you are not subject to these charges or accruals.

CURRENCY CONVERSIONS

Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 1700h New York Time, plus/minus 0.5%.

CASH TRANSFER

Cash Transfers out of the HMS Trader online Trading account will be subject to a charge of EUR 25.00 (or equivalent)

US RESIDENTS

Please note that HMS Markets does not accept US Citizens or Residents for the time being.