Since the additional funds required to facilitate leveraged trades are taken from Magnr's private trading reserves, there is a fee charged for using this borrowing service.
The Daily Funding Fee is required to maintain live open positions after a 24 hour open duration, and at each 24 hour rolling period.
The Daily Funding Fee is charged at -
- Rate: 0.30 % (of a Position Size)
- Funding Fee is taken from the 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.
Balance (Account Balance): Trade Deposits and Daily Funding Fees are deducted from the Balance figure. This is the balance that is available for you to place trades with. It should be noted that Profit/Losses on live open trades do not affect this sum.
Net Value is the total value of your holdings, taking into account your live profit/loss on any open positions. When trades are liquidated, Trade deposits +profits/-losses are reconciled back to your initial Balance.
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.