FX and CFD retail broker Admirals has released an update to its MetaTrader 5 (MT5) platform aimed at increasing transparency for users by making currency conversion fees more visible. The update introduces a new 'Commission' column, allowing traders to easily track and understand the costs associated with currency conversion when trading equities, ETFs and CFDs.

Admirals clarified that this update does not introduce any new fees. Instead, it increases the visibility of the existing 0.3% currency conversion fee that has been in place for some time. This fee, with a minimum fee of 0.01 units of the account's base currency, applies to transactions involving assets listed in currencies other than the trader's account's base currency. The commission applies to a variety of transactions including profit and loss settlements, distributions and service charges.

Prior to this update, commission was not displayed as a separate item in the MT5 trading interface. Due to this lack of visibility, traders sometimes found it difficult to accurately track total trading costs. With the new update, traders can now see these fees, giving them a clearer and more detailed overview of their transaction costs.

Admirals' actions to make these fees more transparent are part of its ongoing efforts to improve the trading experience by providing more transparent and accessible information. By making these fees more apparent, Admirals aims to help traders make more informed decisions and manage their trading costs more effectively.

This update is in line with a broader industry trend toward greater transparency and customer-centric practices. As traders become more sophisticated and demand more detailed information, brokers like Admirals are responding by enhancing their platforms to meet these expectations.

For traders using the MT5 platform, the improved visibility of currency conversion fees represents a positive step towards greater clarity on trading costs. Admirals believes that this change will contribute to a smoother and more transparent trading experience, reinforcing its commitment to meeting the needs of its clients.