Since the additional funds required to facilitate leveraged trades are taken from Magnr's private trading reserves, there is a fee charged against using this borrowing service.
The Daily Funding Fee is applied to all positions, and is required to maintain an open Trade Position -
- after a 24 hour open duration
- at each 24 hour rolling period
Daily Funding Fee charged at -
- Rate: 0.30 % (of a Position Size)
- Funding Fee is taken from the user Account Balance*
* IMPORTANT - please ensure Account Balances are sufficient to cover the Daily Funding Fee in order to keep Trade Positions open beyond the first, and for each following 24 Hours.
Where there are insufficient funds on your Account Balance to cover the Daily Interest Fee, open Trade Positions will be Automatically Liquidated after a 24 Hours period. Also see bottom of the article for conditions of auto-liquidation.
The Daily Funding Fee amount can be identified on the Trade Interface -
- Before a position is opened -
- After a position is opened; in the Trade Summary box alongside each trade position. These are listed on the Open Positions table at the bottom of the page.
Conditions of Automatic Liquidation Apply
Trade in Profit (P/L: Positive)
- Profit return to User Account Balance.
- Trade Deposit returned to User Account Balance.
Trade at Loss (P/L: Negative)
- Trade Losses are deducted out of the initial Trade Deposit (Collateral) amount.
- any remaining funds are returned your Account Balance.