Trading Guidelines (Precious Metals)
Overnight Interest and Fee
All unsettled orders will be automatically carried over to the following days. Interests for these unsettled orders will incur overnight interest and fee which will be charged into clients’ accounts. The interest rates will be based on the market rates at the time when they are charged. If there are unsettled contracts in clients’ accounts after trading hours for Friday, clients will be charged overnight fees of 3 days for these unsettled contracts. (All interest rates are updated to clients on every Monday.)
Interest Formula of LLG, LLS = (Close price x quantity per contract x number of contracts) x interest rate / 360
A client bought 2 contracts of LLG at the price of 757.3 and settled the order 1day later. The interest of buying LLG was -1.25% and the closing price was 753.5. 753.5 x (-1.25%) x 100 x 2 / 360 = -US$5.23 (Interest to pay by client)