We are clear about our charges, so you always know what fees you will incur when trading CFDs.
Spreads and Commission
For share CFDs, we charge a small commission when you open and close a position. Our commission starts from 0.10%, with a minimum charge of £10 for online dealing and £15 when you place a trade via our phone dealing desk.
For all other markets, we offer a buy and a sell price either side of the underlying market price. The difference between these two prices is the spread. Our forex spreads, for example, start from 0.8 pips on major pairs like EUR/USD.
Daily funding on standard CFDs and cash index trades is charged at the one-month interbank rate for the currency you're trading in, +/- 2.5%. For non-standard GBP-denominated index CFDs, or indices mini contracts, the funding rate is +/-3% rather than +/-2.5%. If you are trading in pound sterling, the interbank rate is LIBOR.
Interest is debited for long CFD trades and credited for short CFD trades, unless LIBOR is less than the funding rate, in which case short positions will incur a debit. The total interest you pay or receive depends on the size of your trade and the length of time for which you have held the position.
For forex positions held overnight, clients pay or receive funding based on the current tom-next rate. Tom-next shows, in pips, the difference between the interest paid to borrow the currency that is being notionally sold overnight, and the interest received from holding the currency that is being notionally bought overnight.
An administrative charge of no more than 0.3% per annum applies on either side of the current tom-next spread on standard contracts. For mini contracts, a charge of no more than 0.8% per annum is applied.
We have four currency conversion settings. Our default setting for all clients is instant conversion. When your position is closed, any foreign-currency profit and loss will be converted to your base currency before being applied to your account. This includes any charges such as funding, commission or dividends.
We also offer a daily, weekly or monthly conversion setting. Conversions are made at a rate no greater than 0.3% from the mid-price.
We do not charge margin call fees, tax statement fees, audit fees for disputes or platform fees. You will also not be charged for withdrawing funds or phone trading.
However, we do charge a monthly inactivity fee of £12 on the first of the month if no trading activity has occurred for two years or more, provided you have a positive balance on your account. ‘Trading activity’ is defined as opening or closing a position, or updating an open position.
If your account is not held in GBP, please see help and support for more information.
We will charge a 1.5% administration fee for credit and non-UK
debit card payments.
- Same-day payments are charged at £15.
- We pass on a monthly fee if you view live exchange data. This fee is refunded if you make a minimum number of trades in that month. Log in, visit 'My Account' and click 'Data Feeds' for details.
If we incur a borrowing charge for opening a hedging position against your short share CFD position, this charge will be passed on to you (with a 0.5% admin fee).
To determine whether a borrowing charge applies, call our dealers in advance of trading. The borrowing charge (if applicable) will be accounted for in the daily interest adjustment that is applied to your trade. The borrowing charge, and the ability to go short, can be changed at short notice.
We charge a small premium for a limited risk transaction with a guaranteed stop; this may vary due to market conditions and volatility. The premium is only charged on the opening trade.
For more information on the limited risk premium, see our contract details.
CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.