Equities

Instrument– The FX currency pair or underlying asset of the CFD product to be traded.

Country– The country that the equity or bond is based in.

Standard Contract size– The lot size traded on each platform (Note: CMTrading in MT4 represents the standard lot size).

Standard Spread– The difference between the BID & the ASK price quote for each instrument under normal market conditions.

Margin Per Lot– The required margin to open a single lot of each instrument (Note: It is shown in notional terms).

Overnight Interest Sell/Buy– The overnight interest debited/credited in daily % terms for each instrument.

Trading Hours– The time that trading is available for the specified instrument.

Exchange– The exchange of the underlying asset.

Risk Warning:
Trading CFD’s on margin carries a high level of risk, and may not be suitable for all investors.

The Individual Equities Trading Conditions display the ‘Spread Over Market’ for Individual Equity Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up CMTrading adds to the Current Market Spread.

Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.

Example

For a trade of 1 APPLE share, with a Spread of 12 pips (0.12), the calculation is as follows:

CMTrading are compensated through the Bid-Ask spread, except when otherwise stated.

CMTrading do not charge commissions on any trade.

All Instruments are traded on Margin allowing you to Leverage your positions. The Individual Equities Trading Conditions display Margin Amounts as a Percentage (%).

Percentage Margin Formula: Position Size x Current Price x Margin (%) = Margin Required*

*Margin Required is calculated in the Currency the Instrument is Denominated in.

CMTrading may double margin requirements on specific stocks prior to earnings release. This is a preventative measure to avoid clients with large exposures in the said equity, falling into negative equity.

Example

For a trade of 1 APPLE share with a Market Price of $500 and a Margin Requirement of 5.00%, the calculation is as follows:

Percentage Margin Requirement: 1 x 500 x 0.05 = $25.00*

The Individual Equities Trading Conditions display the Over-Night Interest Rates Charged/Paid on a daily basis for holding a position open past the End of Day time. These are displayed in the “Overnight Interest – Buy” and “Overnight Interest – Sell” columns. End of Day is 22:00 GMT except during Daylight Savings when it changes to 21:00 GMT. 

You can use the following formula to calculate your Daily Overnight Interest amount: 

Swap calculation = No Of nights * Swap (buy or sell) *No of Lots 

Example 

For a 1 lot APPLE trade, with a Daily Swap Buy Rate of -20.34 and subject to charge for 1 day the calculation is as follows: 

SWAP = 1x-20.34×1= -20.34 USD 

• Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in. 

Note: 

Positions that are held open over Wednesday night will incur a triple swap charge. This is to account for the settlement of trades over the weekend, where no swap rates are charged since the market is closed. 

You can use the following formula to calculate your Volume:                                 

Number of lots * Contract Size* Open Price                     

E.G. For Amazon                            

2 * 150 * 95.84 = 28,752 USD                   

E.G. For Apple                 

2 * 100 * 134.93= 26,986 USD