CFD Costs
CFD commissions and pricing
CFD trading is very similar to normal share dealing in two respects. You deal at the cash price of the share, and pay a commission which is calculated as a percentage of the value of the transaction.
There are no hidden costs such as administration or management fees and we do not widen the spread of the share.
Galvan is committed to offering a competitive commission rate which includes all the advice and monitoring you require as well as full access to our research centre.
Our commission rates range from 0.2% to 0.5% per trade depending on account size.
Financing
When you trade you may incur financing charges on positions held overnight.
If you are long, you'll have to pay interest; if you are short, you may receive interest.
Clients pay interest on the contract value of a long CFD. Interest is charged at a percentage over LIBOR (LIBOR is the London Interbank Offered Rate and is linked to base interest rates).
Clients holding short CFD contracts may receive interest on the cash that the sale of the underlying stock would have generated. This is similarly paid at an agreed rate under LIBID (London Interbank Bid Rate).
For example, if a client was paying a long CFD funding charge of perhaps 2.5% over LIBOR and if LIBOR was 1.5%, the client would be paying a funding rate of 4% per annum. If the total contract value was £10,000 the funding charge would be around £1.10 for every day the contract was maintained (£400 per annum divided by 365 days).
This amount would be debited daily from your CFD account. The funding charge is only incurred if the position is held overnight. These amounts will be credited or debited on the next trading day.
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