How does TD Ameritrade calculate the margin interest per day for cryptocurrency trades?
Stewart SkovbjergJan 12, 2022 · 3 years ago3 answers
Can you explain how TD Ameritrade calculates the margin interest for cryptocurrency trades on a daily basis?
3 answers
- Jan 12, 2022 · 3 years agoSure! TD Ameritrade calculates the margin interest for cryptocurrency trades by taking into account the borrowed amount, the interest rate, and the number of days the trade is held. The formula used is: Margin Interest = (Borrowed Amount * Interest Rate) / 365
- Jan 12, 2022 · 3 years agoTD Ameritrade calculates the margin interest per day for cryptocurrency trades based on the daily average borrowed amount and the applicable interest rate. The interest is calculated on a daily basis and added to the account balance at the end of each day.
- Jan 12, 2022 · 3 years agoWhen it comes to calculating the margin interest per day for cryptocurrency trades, TD Ameritrade follows a simple formula: Borrowed Amount * Daily Interest Rate. This calculation is done on a daily basis and the interest is added to the account balance at the end of each day. It's important to note that the interest rate may vary depending on the specific cryptocurrency being traded.
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