CFD pricing

A borrowing cost may be applied to short Single Stock CFD positions held overnight. This borrowing cost is dependent on the liquidity of the underlying Stocks and may be zero (0) for high liquidity Stocks. The specific borrowing rate for a Stock can be seen as the 'Borrowing Rate' under 'Account' > 'Trading Conditions' > 'CFD Stock/Index Instrument List' in the trading platforms.

When selling a CFD, the borrowing cost for holding the position overnight is shown in the CFD Trade module in the 'Estimated borrowing cost per day' field. The borrowing rate will be fixed when the position is opened and will be charged on a monthly basis. Please be aware, that for certain corporate action events, the borrowing rate on the short position may be reset to the current rate in the market, upon the execution of the corporate action.

If you open and close a CFD position within the same trading day, you are not subject to borrowing costs.

Positions held overnight in CFD Futures will be subject to a carrying cost.

The carrying cost is calculated on the basis of the daily margin requirement and applied when a position is held overnight. It is charged at the end of each month.

The funding rate used for calculating the carrying cost is based on the relevant Interbank-rate + markup at: 2.5% (classic accounts), 1.5% (platinum accounts), or 0% (VIP accounts).

Carrying Cost = Margin requirement * Days held * (Relevant Interbank rate + Markup) / (365 or 360 days)

Please note that relevant benchmark rates are floored at 0%.

The Bid/Ask spread will be equal to the minimum target spread in approx. 99% of the quote updates, during the opening hours of the underlying cash market.

This gives clients an improved trading experience and a high degree of certainty with regards to trading costs associated with entering and closing CFD Index Tracker positions.

Please note that Fixed spreads are available for selected CFD indices only under normal market conditions up to the trade amounts listed in the table below.

North America

	US 30 Wall Street	US30.I	15
	US 500	US500.I	100
	US Tech 100 NAS	USNAS100.I	25

Europe

	EU Stocks	EU50.I	100
	France 40	FRA40.I	10
	Germany 30	GER30.I	10
	Italy 40	ITALY40.I	10
	Netherlands 25	NETH25.I	10
	Spain 35	SPAIN35.I	20
	Sweden 30	SWE30.I	100
	Switzerland 20	SWISS20.I	10
	UK 100	UK100.I	20

Asia / Pacific

	Australia 200	AUS200.I	10
	Japan 225	JPY225.I	1,000
	Hong Kong	HK50.I	25

* Based on the Bid/Ask spread of all CFD index trackers (with fixed spreads enabled) during trading hours. Measured on 01/09/2016. Please note that fixed spreads only apply under normal market conditions and up to a certain trade size.

When you hold an Index or Single Stock (Single Stock and ETFs/ETCs) CFD position overnight your position will be subject to the following credit or debit:

• Long positions incur a financing markup of +3% (classic/platinum accounts) or +2% (VIP accounts).
• Short positions incur a financing markdown of -3% (classic/platinum accounts) or -2% (VIP accounts).

Find more information about our general charges here.