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 on both the open and close, 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.
Our commission rate on equities is 0.2% and £20 minimum commission per trade (or equivalent local currency). For commission rates and charges related to other instruments please contact Galvan for further information.
Financing
When you trade CFDs 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. On equity positions, long positions will be debited a financing charge of LIBOR + 2.5%, while short positions will be credited finance of LIBOR - 2.5%.
For example, if a client was holding a long CFD position in a share, they would pay financing at 2.5% over LIBOR. 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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