Additional bank account & rollover fees

Hello Jason, I hope you are well.

Is it possible to add an additional bank account to my account so I can deposit money into the account with bank 1 and withdraw funds to bank 2?

Also when a trade incurs a rollover fee, it will say something like 1.2 or 1.8 or something. Is his in pips with respect to your trade size?

So if a pip is worth £10 then 0.5 rollover would be £5? Or is it 0.5% of your trade size or what? Thanks.

I’m well, thanks. And you?

Yes, the names on the bank accounts must match the name on your trading account. For example, if a trading account is in the name of John Smith, then the bank accounts used to deposit and withdraw funds from this trading account must also be in the name of John Smith.

The rollover amounts are not in pips. If you have a GBP-denominated trading account, then the rollover amounts are displayed in British pounds. if you have a USD-denominated trading account, then the rollover amounts are displayed in US dollars.

Furthermore, it’s import to note that you can earn or pay rollover interest. You can see the exact amount you can earn or pay per micro lot (1K) in the RollS and RollB columns of the Simple Dealing Rates window on your Trading Station platform.

For example, I have a USD-denominated trading account and RollB for NZD/USD is 0.27 USD (i.e. 27 cents). If I buy 100k NZD/USD and hold my trade open through 5pm New York time today, then I will earn $27.00 in rollover interest (27 cents times 100).

This page has more information on rollover interest: Forex Rollover Calendar

I’m very well thank you.

Cheers for the detailed reply.

It’s my pleasure :slight_smile:

Have a great weekend!