Please be aware:
As of February 3rd 2019 we’re making a change to our financing fee. From that date all newly opened positions without a Multiplier are no longer being charged a financing fee. This will apply to all products in the BUX app. So even your positions in cryptocurrencies (such as bitcoin, ethereum or ripple) will not be charged a financing fee anymore if these trades have no Multiplier. We believe this is fairer if you want to trade such products for the longer term.
Unfortunately, to make the above possible, if you are trading with a Multiplier, we will be charging you on the full value of the trade; no longer only on the leveraged amount. This will apply for all products that we offer in the BUX app.
It is possible that you are charged a financing fee even though you didn’t have a position with a multiplier. This can be caused by the fact that you are trading in a cryptocurrency.
All cryptocurrencies have a different type of financing fee compared to all other products and for long positions are charged a financing fee based on the full value of the investment, including the invested amount. The reason for this is that it’s quite expensive to hold positions in cryptocurrencies in custody for a longer period of time. Unlike our other products, cryptocurrencies are traded on more expensive platforms and exchanges, and safekeeping these cryptocurrencies is a lot more costly.
The above also means that all short positions (arrow down) in cryptocurrencies are now not charged a financing fee anymore. So even if you open a short position with a multiplier, you won’t be charged a financing fee.
For more information on what the prices for cryptocurrencies are, please refer to the price list on our website. Any questions, feel free to contact us on firstname.lastname@example.org.