There are several types of charges that incur to your MT4 trading account of GBE brokers.
Normally you will not get charged any for using the MT4 trading account itself though, in case you haven’t placed an order or had a open position for a month, GBE brokers will charge you 20 EUR or equivalent amount in other currencies.
As long as you keep trading with GBE brokers often, you will not get charged of this.
In case you don’t have any account balance in your account, you will not get charged either.
In terms of fees for tradings, there are two types of charges.
Spread is one thing you will need to pay for every brokers. It is one important thing you may want to consider when choosing your broker.
In case of GBE brokers, the broker offers Raw Spread account where you can get the tightest spread possible from its liquidity providers.
This means that there is no markups from GBE brokers, but the spread you will see in the trading accounts are the spread which is provided directly from its liquidity providers(market makers).
2. Extra trading commissions
In case of you choosing the “Raw Spread Account”, you will be charged $9 per 1 lot standard round turn lot.
The charge is not included in the spread and it will be charged according to the trading volume of your orders.
So if you trade 0.01 standard lot, you will be charged $0.09 when you close the position.
If you have opened a MT4 trading account with Hercules, you are entitled to receive cash back directly to your MT4 trading account.
Trading commissions for CFDs
For CFD financial instruments, you will not be charged extra trading commissions($9 per 1 standard lot).
All charges are included in the spread, so the spread you are seeing in your MT4 trading account are the all costs incurred while trading CFDs.
There will be certainly charges in the process of a deposit.
The charges are different for each payment method though, GBE brokers charges as follows:
- Bank Wire Transfer – No charges
- Credit/Debit card – 2.5%
- Neteller – 3.6%
- Skrill – 2.9%
These above charges are incurred from GBE brokers, and you may be charged by the payment providers also.
In case you withdraw funds via bank wire transfer, you will be charged 0.15% with the minimum of 15 EUR, 20 USD or 20CHF.
For Neteller and Skrill withdrawal, you will be charged 1% with the minimum of 15 EUR, 20 USD or 20CHF.
In case the payment providers are charging you for receiving the funds, you may not be able to receive the full; withdrawal amount at the end.
Normally international wire transfer costs more than 20 dollars which is charged after the transfer from GBE brokers side.