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.
Our commission rate on equities ranges from 0.2% to 0.5% depending on account size. For commission rates and charges related to other instruments please contact Galvan for further information.
Trading can be conducted over the telephone or through the online trading platform. You will not be charged any additional cost for trading over the telephone.
Galvan does not charge any hidden costs such as administration, compliance or management fees and we do not widen the spread of shares.
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 say 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).
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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