Does Plus500 charge a Currency Conversion Fee?

Plus500 will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account.

The Currency Conversion Fee will be up to 0.5% of the trade’s realised profit and loss and reflected in real time into the unrealised profit and loss of an open position.

To learn how the Currency Conversion Fee is calculated, please follow the example below:

Your trading account is denominated in EUR and EUR/USD rate is 1.10101.
You open a 500 USD Facebook sell position and make a loss of -$10 (-€9.08).
In this example, we will charge a daily Overnight Funding Fee, for holding your position open after a certain time, and a Currency Conversion Fee.
The daily Overnight Funding Fee will be -$0.1 (-€0.09) i.e. 1 contract x Price of $500 x daily Overnight Funding percentage of -0.02%.
The Currency Conversion Fee will be 0.5% of your position’s net loss i.e. (-$10 - $0.1) * 0.5% =-$0.05 (-€0.045)
Overall Net loss = - $(10+0.1+0.05) = - $10.15 (-€9.22)

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.