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CFDs

CFDs

WHAT IS A CFD?

A CFD (Contract for Difference) is a derivative of a financial product and is used for trading. The CFD price behaves exactly like the underlying asset price.

There is no actual ownership of the underlying asset of reference. Since the product is not exchange traded, it is said to be traded over-the-counter (OTC). CFDs are traded on margin and can be sold short, making it possible to profit in falling markets.

WHAT TYPES OF CFDS CAN YOU TRADE THROUGH ArgusFX?

ArgusFX currently offers 14 Stock Index CFDs. These allow traders to track the performance of a Stock Index, achieving a cost efficient market exposure because it does not require the buying and selling of individual shares.
You can see a full list of all available Stock Index CFDs in the Summary Table further down.

CFD FINANCING

CFDs are margined products, you finance the traded value through an overnight credit/debit charge. If you open and close a CFD position during the same trading day, you are not subject to overnight financing.
When you hold a CFD position overnight, you will consequently be subject to the following credit or debit values:

  • Holding Long CFD positions after 17:00 EST (New York time) will incur a financing charge as follows: Index Value * Number of CFDs * (relevant Inter-Bank Offered Rate + 2.5%) * (Actual Number of Days/360 or Actual Number of Days/365)
  • Holding Short CFD positions after 17:00 EST (New York time) will incur a financing charge as follows: Index Value * Number of CFDs * (relevant Inter-Bank Bid Rate – 2.5%) * (Actual Number of Days/360 or Actual Number of Days/365)

DIVIDENDS

Dividend payments will be applied as debit (short positions)/credit (long positions) along with the overnight financing cost to open positions. Adjustments will apply on the eve of the ex-dividend date of the constituent members of the relevant Index.

When a stock goes ex-dividend, the price of that stock theoretically decreases by the dividend amount. The amount of points a Stock Index CFD drops by is dependent on the weighting of the underlying equity within the index.

Where an index is a Total Return Index, dividend payments will not be credit/debit as part of the overnight financing. The DAX 30 (D30EUR) is currently the only Total Return Index on offer by ArgusFX.

EXAMPLE OF CFD FINANCING COST

    Short positionsLong Positions
Symbol NameIndex NameP/L CcyEOD RateCarryDividendRollCarryDividendRoll
North American Equities
U30USD Dow Jones 30 USD 1 1.000 13,993.00 1 USD Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30  
SPXUSD S&P 500 USD 10 5,000 1,520.40 10 USD  Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30  
NASUSD NASDAQ 100 USD 1 1,000 2,764.00 1 USD Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30  
European Equities
100GBP FTSE 100 GBP 1 1,000 6,340.00 1 GBP Daily 07.00 – 20.00 None  
E50EUR Euro Stoxx 50 EUR 1 1,000 2,636.00 1 EUR  Daily 06.00 – 20.00 None  
F40EUR CAC 40 EUR 1 1,000 3,705.00 1 EUR  Daily 06.00 – 20.00 None  
D30EUR DAX 30 EUR 1 100 7,693.00 1 EUR  Daily 06.00 – 20.00 None  
E35EUR IBEX 35 EUR 1 1000 8,135.00 1 EUR  Daily 07.00 – 15.30 None  
I40EUR Italia 40 EUR 1 1000 16,523.00 1 EUR  Daily 07.00 – 15.40 None  
Z30CHF Swiss 30 CHF 1 1000 7,538.00 1 CHF  Daily 06.50 – 16.25 None  
Asian Equities
225JPY Nikkei 225 JPY 100 1000 11,367.00 100 JPY Sun 23.00 – Fri 20.15 Daily 20.15 – 23.00  
H33HKD Hang Seng 33 HKD 10 3000 23,169.00 10 HKD Daily 01.15 – 08.15 Daily 04.00 – 05.00  
200AUD Australia 200 AUD 1 200 5,082.00 1 AUD  Daily 23.50 – 20.00 Daily 06.30 – 07.10  

table

CFD SUMMARY TABLE
Up to date as at: 19 August 2013

Symbol NameIndex NameP/L CcyMin Trade sizeMax trade size per quotePrice ExamplePip value per LotTrading Hours (GMT)Break Time (GMT)
North American Equities
U30USD Dow Jones 30 USD 1 1.000 13,993.00 1 USD Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30
SPXUSD S&P 500 USD 10 5,000 1,520.40 10 USD  Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30
NASUSD NASDAQ 100 USD 1 1,000 2,764.00 1 USD Sun 22.00 – Fri 20.15 Daily 20.15 – 20.30
European Equities
100GBP FTSE 100 GBP 1 1,000 6,340.00 1 GBP Daily 07.00 – 20.00 None
E50EUR Euro Stoxx 50 EUR 1 1,000 2,636.00 1 EUR  Daily 06.00 – 20.00 None
F40EUR CAC 40 EUR 1 1,000 3,705.00 1 EUR  Daily 06.00 – 20.00 None
D30EUR DAX 30 EUR 1 100 7,693.00 1 EUR  Daily 06.00 – 20.00 None
E35EUR IBEX 35 EUR 1 1000 8,135.00 1 EUR  Daily 07.00 – 15.30 None
I40EUR Italia 40 EUR 1 1000 16,523.00 1 EUR  Daily 07.00 – 15.40 None
Z30CHF Swiss 30 CHF 1 1000 7,538.00 1 CHF  Daily 06.50 – 16.25 None
Asian Equities
225JPY Nikkei 225 JPY 100 1000 11,367.00 100 JPY Sun 23.00 – Fri 20.15 Daily 20.15 – 23.00
H33HKD Hang Seng 33 HKD 10 3000 23,169.00 10 HKD Daily 01.15 – 08.15 Daily 04.00 – 05.00
200AUD Australia 200 AUD 1 200 5,082.00 1 AUD  Daily 23.50 – 20.00 Daily 06.30 – 07.10
  • Please be advised that all margin rates will be continuously reviewed on an ongoing basis.
  • Attention: Special margin requirements (leverages) remain in place disregards of clients requests for maximum leverage increase
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Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.

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Aenaon Markets is STP multi-product & multi-terminal trading platform solution powered by ArgusFX which is a registered trading name of Argus Stockbrokers Ltd. Aenaon Markets is a registered trademark of Aenaon Markets Ltd, Athens, Greece.

Aenaon Markets is a MIB partner of Argus Stockbrokers Ltd which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF License Number 010/03.

Risk Warning: Forex and CFDs are leveraged products and involve a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary.

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