| Opening an account | Free |
| Close Account If you decide to end your trading journey with us, Phronimos Group will not charge you for this. | Free |
| Demo Account Use virtual funds to test your strategy in a simulated trading environment. | Free |
| Idle expenses If your account is idle for more than 1 year, Phronimos Group may charge you a monthly idle fee. | 10 USD or equivalent currency (if any) |
| Deposit fee You do not have to pay any fees for the deposit to the account. | Free |
| Minimum Intake Amount The minimum amount you deposit into your account to start trading. | 20 USD/EUR/GBP or 100 PLN Applicable to all payment methods, except wire transfers, which have a minimum amount of € 50 (or the equivalent in the currency of your trading account) |
| Fee Phronimos Group will never charge you for transferring funds out of your Phronimos Group account. | Free |
| Minimum Out Amount The minimum amount you can withdraw to a bank card or bank account. | 20 USD/GBP/EUR(Bank Card Payment) * The minimum amount depends on the selected payment method (view. Here. For details). If your account balance falls below the minimum withdrawal amount, you can only withdraw the entire balance. |
| Point difference Our fee for executing a trade is the spread-the difference between the bid price and the ask price. | Stake is dynamic and changes according to the relevant market environment. Press here. View specific spreads for different trading instruments. |
| Trading Commission Phronimos Group do not charge any commission for your transactions. | Free |
| Overnight charges The interest adjustment that applies when you hold an overnight position. | Depending on whether you are doing well or doing well, you may pay or be charged an overnight fee. Press here. Understand the cost of each trade instrument. |
| Currency conversion When you trade in a market that is denominated in a different currency than your account, Phronimos Group will charge a small fee when converting to the base currency of your account. | Our currency exchange fee is 0.7% of the in stock foreign exchange rate (0.5% for professional clients) and is charged as part of the exchange rate when a foreign currency cash transaction occurs on your account. For example, when you: |
| Guaranteed corrosion stop * Guaranteed stop erosion (GSL) will close the position at the price level you specify, with no risk of short jump or slippage. Your loss will never exceed the estimated level, but if your GSL is triggered, you will pay a small fee for it. | GSL fees vary depending on the market, opening price and quantity you are trading. Before you start trading, you can view the related fees in the trade slip. Press here. Understand how GSL fees are calculated. * Please note that GSL does not apply to 1X accounts. |
The bid-ask spread is the difference between the bid price and the ask price of a security. The sell price is always higher than the buy price, so the price needs to cross the spread before the open position takes a profit. Buy-sell spreads can be seen as a measure of the supply and demand for a certain asset in the market, so the liquidity of the market is an important factor in the narrowing of spreads.
Each time you hold an overnight trade, an interest fee will be charged on your position. How the fee is calculated and whether you pay or charge it depends on a range of factors. You can see how it is calculated in the following example.
Related interest rate benchmark(E. G. Sterling-denominated indicator SONIA)+/- our Daily Fees(0.01096%)
Underlying market adjustments (futures-based)+/- our Daily Fees(0.01096%)
Underlying market adjustment (TomNext)+/- our Daily Fees(0.00411%)
Related interest rate benchmark(E. G. Sterling-denominated indicator SONIA)+/- our Management Fee(0.01096%)
Long position: 0.06164% of position amount
Short position: 0.0137% of position amount
You are required to pay an overnight lending fee to cover the transaction costs associated with the overnight position.
Guaranteed stop (GSL) fees are only charged * when guaranteed stop is triggered *. GSL closes positions exactly at the price level you specify, with no risk of jumping or slipping. Because Phronimos Group assume this risk for you, Phronimos Group (and other providers) charge a fee for using GSL. After selecting GSL, you can see the GSL fee on the transaction slip before placing the order.
The guaranteed stop-erosion cost is calculated by multiplying three numbers: the guaranteed stop-erosion premium (percentage), the opening price and the quantity. The calculation formula is as follows:
GSL Fee = GSL Premium * Opening Price * Number of Open Positions.
You can view the GSL fee in the trade order when opening a position and adding a GSL.
Of course, our fees are not the only factor affecting your trading profitability. You should also consider the following factors.
The direction and magnitude of market movements can significantly affect the value of your trades.
The amount required to open and maintain the transaction. You should consider whether you can afford the deposit and whether the amount of the deposit needs to be adjusted accordingly when entering the market and when the market changes.
You should choose the lever that matches your abilities. Your exposure may be several times the amount invested in opening a position, and you may face a quick, large profit or loss.