|INSTRUMENT||Country||Currency||Exchange||Expiration||Typical Spread (Pips)||Margin||Standard Contract Size||Trading Hours GMT|
|S&P 500||US||USD||CME||Mar,Jun,Sep,Dec||23||2.00%||50||23:01-21:15 & 21:30-21:59|
|NASDAQ 100||US||USD||CME||Mar,Jun,Sep,Dec||25||2.00%||20||23:01-21:15 & 21:30-21:59|
|Dow||US||USD||CBOT||Mar,Jun,Sep,Dec||35||2.00%||5||23:01-21:15 & 21:30-21:59|
|FTSE 100||UK||GBP||ICE EUR||Mar,Jun,Sep,Dec||35||2.00%||10||01:01-20:59|
|RUSSELL2000||US||USD||ICE US||Mar,Jun,Sep,Dec||52||2.00%||100||MON 01:01-22:00 TUE-FRI 22:00-22:59 & 01:01-22:00|
|HANG||Hong Kong||HKD||HKFE||Monthly||60||2.00%||50||01:16-04:00 & 05:00-08:30 & 09:15-16:59|
|TOPIX||Japan||JPY||TSE||Mar,Jun,Sep,Dec||50||2.00%||1000||00:46-07:10 & 08:30-21:24|
|NK||Tokyo||USD||SGX||Mar,Jun,Sep,Dec||80||2.00%||5||23:01-21:15 & 21:30-21:59|
* Overnight Interest both buy and sell are -0.0028%
Explanation of Terms from Table headings
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: CM Trading 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.
Trading CFD’s on margin carries a high level of risk, and may not be suitable for all investors.
Stock Indices Spread Calculation
The Stock Indices Trading Conditions display the ‘Spread Over Market’ for Stock Index Instruments unless otherwise stated. The ‘Spread Over Market’ is the Mark-up CM TRADING adds to the Current Market Spread.
Spread Cost Formula: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in.
For a 1 index S&P500 Trade, with a Spread of 75 Pips ($0.75), the calculation is as follows:
0.75 X 1 = $0.75*
CM TRADING is compensated through the Bid-Ask spread, except when otherwise stated.
CM TRADING does not charge commissions on any trade.
Stock Indices Margin Calculation
All Instruments are traded on Margin allowing you to Leverage your positions. The Stock Indices 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.
For a 1 Index S&P500 Trade, with a Market Price of $1400 and a Margin Requirement of 0.50%, the calculation is as follows:
Percentage Margin Requirement: 1 x 1, 400 x 0.005 = $7.00*During Indices Roll Over week if a new position on the new contract is opened whilst holding an old contract, margin will be equal to holding 2 positions
Stock Indices Buy Sell Overnight Interest Calculation
The Stock Indices Trading Conditions display the Over-Night (O/N) 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 Overnight Interest amount:
Trade Size x End of Day Market Price x Daily Overnight Interest = Daily Overnight Interest Charged/Paid*
*Overnight Interest Charged/Paid is calculated in the Currency the Instrument is Denominated in.
For a 1 Index S&P500 Trade, with an End of Day Market Price of $2000 and a Daily Overnight Interest Buy (or Sell) rate of -0.0028%, and subject to a charge for 1 day, the calculation is as follows:
1 x 2,000 x -0.000028 = -0.056 = -$0.06* rounded.
Note: CM TRADING platforms display overnight interest (swaps) in annualised terms.
CM Trading is the Brand name of
Global Capital Markets Trading and BLACKSTONE Marketing SA(PTY)LTD (GCMT SA)
The website is operated by CMT Processing Limited.
HIGH RISK WARNING:
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.
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