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Alpari lowers interest on forex trading accounts

Alpari, an international forex broker with registered offices in Belize and Saint Vincent and the Grenadines, yesterday announced that it has cut the interest rates on forex account to 8%. What's more, the offshore broker now requires minimum deposit of $10 000 and over 5 million monthly trading volume in order to pay any interest. 

 

Below is the official statement:

 

We would like to raise your attention to the fact that, from 1st December, 2015, account balance requirements for earning interest, in addition to some interest rate sizes on offer will undergo some changes.

 

"Changes to Interest Rate Sizes for Interest on Deposits from 1st December"

Attention:

  - These terms apply to standard.mt4, pro.mt4, pro.ecn.mt4 and ecn.mt4 accounts, and also to standard.mt4 and ecn.mt4 accounts with the Swap-free and Weekend Fee options.


  - The funds are transferred to the account before the 5th of the month following settlement.


  - Interest is calculated daily on the equity, deposit currency and trading volume from the beginning of each month1. The interest is calculated, if there has been at least one position opened or closed that day.

 

  - The percent accrued for one day is calculated using the following formula: (Free Mаrgin – Credit) × (IR / 100 / 360), where IR is the interest rate based on the Equity in the trading account and monthly trading volume, Credit means any credit transferred by the company to the client's account during some special offer, and Free Margin represents free funds on the account on 23:59:59 (EET) on the current day.

 

- Alpari has a right to terminate the special trading terms.


Please Note:

↑Equity means the actual state of a trading account taking into consideration the profit and loss of open positions. Equity is calculated as follows: Equity = Balance + Floating Profit – Floating Loss.Source: alpari.com, "Earn Interest on Your Deposit"

 

Alpari now requires larger deposits and higher trading volumes in order to pay interest on forex accounts.

 

TAGS: alpari  forex interest  forex account interest 

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