schedule of prices and conditions

Additional Services

• Choice of account management currencies EUR, USD, CHF or HUF
• Quarterly balance of accounts
• All transactions relating to forex, precious metals, CFDs and FFD transactions
• Statements of account transferred to electronic mailbox
• Receipt of payment in account currency (less any foreign expenses)
• Online overviews and evaluations
  
  

Payments

Only bank transfers to the actual account holder's accounts, are accepted by the bank (client reference account).

Value Date

Foreign currency, precious metals, CFD and FFD transactions are processed at value date plus two bank business days.

Execution of orders to buy or sell foreign currency, precious metals, CFDs and FFDs – no commission!

Please note the following with regard to the formation of prices concerning foreign currency, precious metals, CFD and FFD transactions conducted by the bank:

With the purchase and sale of foreign currency, precious metals, CFD and FFD cash transactions, the bank fixes prices for the client at the opening and closing of a position.

Margin Requirements

Margin requirements for the various forex, precious metals, CFDs and FFDs offered by the bank are defined at equitable discretion (§ 315 BGB (German Civil Code)) and are published on the trading platform. The margin constitutes up to 0,5% of the transaction size (margin ratio). The leverage is up to 1:100. At the weekend, on non-trading days etc. the margin rises to between 4% and 50%. Furthermore, the bank reserves the right, under exceptional circumstances pertaining to a political or economic nature, to adjust the margin requirement. Further details can be found on the trading platform.

Ticket Fee for Small Volume Orders for CFDs and FFDs

For CFD and FFD orders with a volume of less than 50,000 EUR or the equivalent amount in another currency, the following fees apply:

The above fees will be debited immediately from the client’s margin account. If an order with a volume of less than 50,000 EUR, or the equivalent amount in another currency, is executed either fully or partially on the same day (= within the same trading day), the ticket fee is only charged once. In the case of partial order executions which are carried out on separate trading days the ticket fee will also only be charged once per trading day.
 

Correspondence banks

Euro Payments

FXdirekt Bank AG
Konto 92 53 20 00 01
bei der FXdirekt Bank AG
BLZ 300 304 00
IBAN DE72 3003 0400 9253 2000 01
BIC/S.W.IF.T. FXDB DE31

CHF Payments

FXdirekt Bank AG
UBS AG, CH-8098 Zürich
Konto 230-21319.05
IBAN CH08 0023 0230 0213 1905 N
BIC/S.W.IF.T.: UBSWCHZH80A

USD Payments

FXdirekt Bank AG
UBS AG, CH-8098 Zürich
Konto 230-21319.70
IBAN CH30 0023 0230 0213 1970 E
BIC/S.W.IF.T.: UBSWCHZH80A

Payment reference: Your FXdirekt Bank account number

NB: For the first payment into a new account is your reason for payment: your name and the account application reference number.

Other additional services

By special request, account statments by post

• Monthly by mail** 5,00 EUR
• Optional, quarterly by mail** 10,00 EUR
• Additional request for statements of account by mail** 10,00 EUR

** plus postage

Additional Services

• Replacement trading password (PIN) for account 10,00 EUR
• Address enquiry 25,00 EUR
• Domestic bank transfer recall 15,00 EUR
• Telegraphic domestic bank transfer order 15,00 EUR
• Fax advice 15,00 EUR
• Copy of accounting records and account statements on a time and material basis, 25,00 EUR per hour
  
  

Enquiries

• Separate confirmation of balance 20,00 EUR
• Separate debit interest record for the margin account 15,00 EUR
• Separate record of income (20,00 EUR plus 19 % VAT) 23,20 EUR
  
  

Interest Rate for Arrears

• Arrears interest rate for Euro ECB prime refinancing facility + 5%
• Arrears interest rate for USD prime rate of the Fed NY + 5%
• Arrears interest rate for CHF Lombard rate of the SNB + 5%
  
  

Text Message Services

Fees for Text Message Services:	Single Billing per Text Message 49 cents	Package of 100 Text Messages for €39.00	Package of 500 Text Messages for €149.00
Easy Account		No	No
Smart Account			No
Premium Account

Important information

The bank, and not the client, executes the roll-over and conversion during fixing. The bank is exempted from the restrictions of § 181 BGB (German Civil Code), for the purpose of the roll-over, as per Section. 8 of the special conditions for foreign currency and precious metals transactions and the special conditions for CFD and FFD transactions and is, therefore, entitled to deliver the required statement on behalf of the client. The client can, however, subsequently verify that the roll-over was carried out at conditions prevailing in the market at the time (see below).

Fixing

The conversion of foreign currencies, profits and losses (fixing)

The bank converts a client's profits and losses, arising from transactions in a currency other than the account currency, and as far as no other agreement exists, at 13:00 (conversion deadline) every trading day, into the account currency. If a conversion is not possible on the same trading day, the bank converts at the price of the following conversion deadline.

The bank sets the bid and ask prices/rates at the close of the conversion deadline, based on equitable discretion (§ 315 BGB (German Civil Code)), and publishes the prices on the trading platform. The prices published on the trading platform apply only to orders with a standard value on the second trading day, following the trading day (day + 2).

Other prices can be applied to orders with a different value; these prices are also determined by the bank, based on equitable discretion (§ 315 BGB (German Civil Code)).

The profits and losses in foreign currency, designated for the client, are also, within the scope of fixing, converted into the respective account currency on a daily basis.

Roll-over

The roll-over prices are fixed by the bank, based on equitable discretion (§ 315 BGB) and, therefore, do not yet stand at the opening of a position. When exercising equitable discretion, the bank orients itself to prices prevailing in the market. To provide verification of the relation of these rates to the prevailing market prices. the bank maintains a data base with swap rates for the roll-over and spot prices, containing date and time indications. The swap rates and prices charged to the client by the bank can, therefore, be compared with prices traded on the international foreign currency market by, for example, comparison with other banks' prices found on the platform.

Determining swap rates when changes in valuta by one day occur
The swap rates at the close of business of each trading day are fixed by the bank, based on equitable discretion (§ 315 BGB (German Civil Code)).  They are published on the bank's trading platform.

Trading days, business days, posting days and close of business

A trading day begins immediately after close of business of the previous trading day and ends at close of business at 23:00 (CET).

Trading days for forex and precious metals transactions exclude Saturdays, Sundays,  the 25th December and the 1st January. All other days, where the main financial institutions of the jurisdiction, where the respective currencies or precious metals  are traded, are open for general business and during which time the Trans-European Automated Real-time Gross-settlement Express Transfer System (TARGET) is active, are considered trading days.

Trading days for CFDs and FFDs exclude Saturdays, Sundays, the 25th December and the 1st January, regardless of the respective CFD or FFD underlying. All other days, on which German banks are open for general business and  during which time the Trans-European Automated Real-time Gross-settlement Express Transfer System (TARGET) is active, except for days on which banks in North Rhine Westphalia are not open for general business, are considered trading days.

Therefore, trading days for currency pairs (also within a currency pair), precious metals, CFD and FFD underlyings can differ from one another.

All currencies, precious metals, CFD and FFD underlyings which are not affected by the aforementioned public holidays etc. can be traded.

Business days of the bank are days on which German banks are open for general business and on which the Trans-European Automated Real-time Gross-settlement Express Transfer System (TARGET) is active, unless they are days on which banks in North Rhine Westphalia are not open for general business.

The bank will instruct its auditors to verify and confirm in their annual audit report (as stipulated by law), that the prices always remained within the abovementioned scope.

Please note: this schedule of prices and services does not apply to products and services offered in Turkey and Hungary.

Last updated: 30.09.2008