Forex CFDs | Online Forex Trading

Contract Details: Forex

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• Forex
• • About Forex 
  • Example: 'Buying' 
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Contract Details

FX

Stock Indices

Stock Indices: Forwards

Stock Indices: Sectors

Shares

Energies

Metals

Commodities

Binaries

Options

Rates & Bonds

There is no commission to pay on our forex contracts; the only charge is our dealing spread.

When forex spreads in the underlying market are narrow, we pass this on to you with our tightest possible spreads. If forex spreads in the underlying market become unusually wide (more than 1.5 times our typical spread), our spreads will match this move, but only up to a maximum spread – our cap. In this way we protect you against the widest market spreads.

Forex spreads for major pairs

Spreads for minor pairs

Notes to table

Our spreads are derived from the spreads in the underlying market available to us from the banks with which we trade. We constantly monitor spreads in the underlying market, offering our minimum spread when the market spread is unusually tight.

In most other conditions, our typical spread applies.

If spreads in the underlying market move beyond 1.5 times our own spread, we match this movement pip for pip – but only up to three times our typical spread. This cap protects you against higher market spreads, giving you peace of mind in volatile market conditions.

Mini-forex on all pairs

For every pair we offer both a full contract (one contract = 100,000 of the first-named currency) and a mini-forex contract (one contract = 10,000 of the first-named currency).

And all our mini-forex contracts are offered at the same tight spreads as our main contracts.

Foreign Exchange Information Table

Note: For all other mini-forex contracts offered, the size of one contract equals 10,000 of the first-named currency. For all other standard contracts offered, the size of one contract equals 100,000 of the first-named currency.

Notes to table

Our Foreign Exchange transactions are a special form of CFD and give you exposure to changes in exchange rates but they are cash settled and cannot result in the delivery of the underlying currencies.

1. Spreads are subject to variation, especially in volatile market conditions. The spreads on Scandinavian cross currencies and some exotic cross currencies can widen during certain periods in particular between the trading hours of 21.00-07.00 (London time).
2. For Limited Risk transactions, a Limited Risk premium is charged on the opening.
3. The minimum transaction size is one contract. Subject to this minimum size, transactions may be in fractions of a contract.
4. Normal dealing hours are from 21.00 (London time) on Sunday until 22.00 (London time) on Friday. If you are using a Trader Account, the margin requirement for the following markets is 1% of the overall position value: EUR/USD, GBP/USD, USD/JPY, USD/CHF, EUR/GBP, AUD/USD and EUR/YEN. All other forex pairs typically require margin of 2%.
   
   For Select Account users, the typical margin requirement is 2% of the position value for all forex pairs.
5. For Foreign Exchange transactions, adjustments to reflect the relative interest rates of the currencies concerned are calculated and posted to the client's account daily. Interest adjustments are calculated as follows:
   
   A = V x R
   
   Where:
   
   V = Number of contracts x Contract size
   
   R = the current Tom-Next rate .(the difference in pips between the interest rate paid to borrow the currency that is being notionally sold overnight, and that received from holding the currency being notionally bought).
   
   A = the funding cost
   
   If the Tom/Next rate is less than zero, you will be debited for running a short position and credited for running a long position.
   
   If the Tom/Next rate is greater than zero, you will be credited for running a short position and debited for running a long position.
   
   The funding charge is calculated for any position opened before 22.00 that is still open after 22.00 (London time).
   
   Note: For any position opened before 22.00 Wednesday that is still open after 22.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period.
6. We will not charge any additional commission unless we notify you in writing.
7. Spreads on some currencies widen during certain periods.
8. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.