In the T&Cs for the CFD account it says “Currency conversion charge: 0.5%” Excuse my ignorance, but to what does this refer? If my base currency is GBP and I buy or sell a CFD on a US company stock or a forex like USD/GBP, at what points does a currency conversion charge occur?
I was coming here to ask the same question only to find I was not the first and it’s still unanswered.
Can anyone clarify when and over what value is the currency conversion charge applied?
I suppose it’s included in the FX rate when the “result” is calculated in real time (i.e. it applies to the amount earned/lost). Is that it?
The question has been answered in some post elsewhere. What you guess is correct. The 0.5% fee is applied to the absolute value of the gain or loss.