Losses can exceed deposits

CFD product details

Contracts for difference let you trade forex based on prices derived from the underlying market. Trade CFDs on over 90 currency pairs – including major, exotic and emerging markets – with spreads starting from just 0.6 pips. 

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Spreads vary depending on the volatility of the underlying market. We quote our minimum spread whenever possible, when the market is narrow. At other times you’ll generally find our average spread applies.

Major pairs

Currency pair [1] Value pe r point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX AUD/USD $10 $1 0.6 0.75 0.8 0.5%
Spot FX EUR/CHF CHF10 CHF1 2 2.30 n/a 1.5%
Spot FX EUR/GBP £10 £1 0.9 1.17 2 1%
Spot FX EUR/JPY Y1000 Y100 1.5 1.96 1.5 0.5%
Spot FX EUR/USD $10 $1 0.6 0.75 1.2 0.5%
Spot FX GBP/EUR €10 €1 2 2.60 1.5 1%
Spot FX GBP/JPY Y1000 Y100 2.5 3.04 2 1%
Spot FX GBP/USD $10 $1 0.9 1.34 2 1%
Spot FX USD/CAD C$10 C$1 1.7 2.50 1 0.5%
Spot FX USD/CHF CHF10 CHF1 1.5 2.04 2 1.5%
Spot FX USD/JPY Y1000 Y100 0.7 0.86 1.5 0.5%

Minor pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX CAD/CHF CHF10 CHF1 2.5 3.16 2 1.5%
Spot FX CAD/JPY Y1000 Y100 2.5 3.61 1.5 0.5%
Spot FX CHF/JPY Y1000 Y100 2 2.76 3 1.5%
Spot FX EUR/CAD C$10 C$1 3 4.25 6 0.5%
Spot FX EUR/SGD SGD10 SGD1 5 6.19 8 0.75%
Spot FX EUR/ZAR ZAR10 ZAR1 150 198.98 100 2.5%
Spot FX GBP/CAD C$10 C$1 3.5 4.74 7 1%
Spot FX GBP/CHF CHF10 CHF1 3 3.98 4 1.5%
Spot FX GBP/SGD SGD10 SGD1 8 10.42 8 1%
Spot FX GBP/ZAR ZAR10 ZAR1 200 256.98 150 2.5%
Spot FX SGD/JPY Y1000 Y100 4 5.22 3 0.75%
Spot FX USD/SGD SGD10 SGD1 3 3.55 2 0.75%
Spot FX USD/ZAR ZAR10 ZAR1 90 128.75 200 2.5%

 

Australasian pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX AUD/CAD C$10 C$1 2 2.78 2 0.5%
Spot FX AUD/CHF CHF10 CHF1 2.5 2.95 2 1.5%
Spot FX AUD/EUR EUR10 EUR1 1.5 2.83 3 0.5%
Spot FX AUD/GBP £10 £1 1.5 2.94 2 1%
Spot FX AUD/JPY Y1000 Y100 1.3 1.91 1.5 0.5%
Spot FX AUD/NZD NZD10 NZD1 3 3.18 5 0.75%
Spot FX AUD/SGD SGD10 SGD1 5 6.84 4 0.75%
Spot FX EUR/AUD AUD10 AUD1 1.8 2.61 4 0.5%
Spot FX EUR/NZD NZD10 NZD1 3 4.02 7 0.75%
Spot FX GBP/AUD AUD10 AUD1 1.9 4.64 5 1%
Spot FX GBP/NZD NZD10 NZD1 5 6.87 20 1%
Spot FX NZD/CHF CHF10 CHF1 4 5.60 3 1.5%
Spot FX NZD/EUR EUR10 EUR1 1.5 1.99 3 0.75%
Spot FX NZD/GBP £10 £1 2 3.01 2 1%
Spot FX NZD/JPY Y1000 Y100 2.5 3.21 3 0.75%
Spot FX NZD/USD $10 $1 2 2.13 2 0.75%
Spot FX NZD/CAD C$10 C$1 3.5 5.10 2 0.75%

Scandanavian pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX CAD/NOK NOK10 NOK1 50 65.94 80 0.75%
Spot FX CHF/NOK NOK10 NOK1 40 55.77 60 1.5%
Spot FX EUR/DKK DKK10 DKK1 10 14.40 200 5%
Spot FX EUR/NOK NOK10 NOK1 25 34.27 40 0.75%
Spot FX EUR/SEK SEK10 SEK1 30 37.76 40 0.75%
Spot FX GBP/DKK DKK10 DKK1 30 45.36 45 5%
Spot FX GBP/NOK NOK10 NOK1 50 76.70 60 1%
Spot FX GBP/SEK SEK10 SEK1 50 78.55 100 1%
Spot FX NOK/SEK SEK10 SEK1 10 12.07 12 0.75%
Spot FX USD/DKK DKK10 DKK1 15 19.80 20 5%
Spot FX USD/NOK NOK10 NOK1 25 35.20 40 0.75%
Spot FX USD/SEK SEK10 SEK1 25 32.73 60 0.75%

Exotic pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX CHF/HUF HUF1000 HUF100 30 39.40 50 1.5%
Spot FX EUR/CZK CZK100 CZK10 25 28.04 50 10%
Spot FX EUR/HUF HUF1000 HUF100 25 42.09 50 1.5%
Spot FX EUR/ILS ILS10 ILS1 50 83.28 80 1.5%
Spot FX EUR/MXN MXN10 MXN1 90 186.97 200 2.5%
Spot FX EUR/PLN PLN10 PLN1 25 45.41 60 1.5%
Spot FX EUR/TRY TRY10 TRY1 15 29.44 15 2.5%
Spot FX GBP/CZK CZK100 CZK10 30 34.49 50 10%
Spot FX GBP/HUF HUF1000 HUF100 30 42.33 50 1.5%
Spot FX GBP/ILS ILS10 ILS1 80 103.49 150 1.5%
Spot FX GBP/MXN MXN10 MXN1 130 211.85 100 2.5%
Spot FX GBP/PLN PLN10 PLN1 30 50.93 40 1.5%
Spot FX GBP/TRY TRY10 TRY1 20 37.70 20 2.5%
Spot FX TRY/JPY JPY1000 JPY100 5 6.91 8 2.5%
Spot FX USD/CZK CZK100 CZK10 25 26.91 50 10%
Spot FX USD/HUF HUF1000 HUF100 25 41.31 50 1.5%
Spot FX USD/ILS ILS10 ILS1 40 76.43 80 1.5%
Spot FX USD/MXN MXN10 MXN1 50 80.50 60 2.5%
Spot FX USD/PLN PLN10 PLN1 25 33.51 40 1.5%
Spot FX USD/TRY TRY10 TRY1 12 23.87 10 2.5%

Emerging pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX AUD/CNH CNH10 CNH1 20 25.17 5% 2.5%
Spot FX CNH/JPY ¥1000 ¥100 0.8 1.74 5% 2.5%
Spot FX EUR/CNH CNH10 CNH1 30 44.50 5% 2.5%
Spot FX EUR/RUB RUB10 RUB1 2000 2663.78 5% 5%
Spot FX USD/CNH CNH10 CNH1 10 15.46 5% 2.5%
Spot FX USD/RUB RUB10 RUB1 1600 2452.15 5% 5%
EMFX GBP/INR £10 £1 35 37.35 5% 5%
EMFX USD/BRL ($10 contract) $10 $1 30 40.98 5% 5%
EMFX USD/INR ($10 contract) $10 $1 20 21.22 5% 5%
EMFX USD/IDR ($10 contract) $10 $1 80 106.64 5% 5%
EMFX USD/KRW ($10 contract) $10 $1 100 175.14 5% 5%
EMFX USD/MYR ($10 contract) $10 $1 100 150.23 5% 5%
EMFX USD/PHP ($10 contract) $10 $1 15 19.37 5% 5%
EMFX USD/TWD ($10 contract) $10 $1 80 147.13 5% 5%
NZD/CNH CNH10 CNH1 15 23.01 N/A 2.5%
Spot FX GBP/CNH CNH10 CNH1 35 39.12 N/A 2.5%
Spot FX CAD/CNH CNH10 CNH1 15 19.88 N/A 2.5%

Virtual pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Limited risk premium Margin required
Standard Mini
Spot FX XBT/USD $100 $10 7.5 7.98 3 7.5%
Spot FX XBT/GBP £100 £10 6 6.85 2 7.5%
Spot FX XBT/EUR €100 €10 7 7.9 2.5 7.5%
Spot FX XBT/JPY ¥10.000 ¥1000 8 8.88 3.5 7.5%
Spot FX XBT/CNH 100 CNH 10 CNH 50 58.77 N/A 7.5%

Notes to tables

Our foreign exchange transactions are a special form of cash-settled CFD that provide exposure to changes in exchange rates, but cannot result in the delivery of the underlying currencies.

1. Normal dealing hours for all pairs are from 21.00 (London time) on Sunday until 22.00 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules. All dealing times listed are London times. Please note that Daylight Savings Time in the UK or the country of origin may cause the times shown to be imprecise.

2. The minimum transaction size is one contract. Transactions above this minimum size, can be in fractions of a contract.

3. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.

4. For limited-risk bets a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and will form part of your margin when you attach the stop.

5. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the Get Info dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.

6. When you trade in a currency other than your default currency, your profit or loss will be realised in that currency. As standard practice, we will then immediately convert this back to your default currency. You can change this at any time via the trading platform.

7. For foreign exchange transactions (excluding bitcoin), adjustments are made to calculate the cost of funding a position, and these are posted to your account daily. The adjustments are calculated as follows: A = V x R Where:

A = the funding cost

V = the number of contracts x contract size

R = the current tom-next rate, including an administrative charge not exceeding 0.3% (0.8% for mini contracts) per annum. 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. This will not always apply to emerging-market pairs. Emerging pairs are priced using one-month pricing, so the funding charge for these will depend on the three-day adjustment that is made in the underlying market. 8. On FX markets where a commission is charged we will not charge additional commission unless we notify you in writing. 9. Bitcoin funding will be 0.0438% daily for short positions and 0.0274% for long positions.

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the twelve weeks ending 24 February 2017.