Contracts for Difference (CFDs)

Size: px
Start display at page:

Download "Contracts for Difference (CFDs)"

Transcription

1 Interactive Brokers presents Contracts for Difference (CFDs) Andrew Wilkinson, Interactive Brokers Chief Market Analyst Webinar 12:00 pm EST Member SIPC 1

2 Disclaimer CFD trading of UK FTSE listed stocks is available through Interactive Brokers (U.K.) Limited. Trading of other products such as stocks, options, Australian CFDs and futures is available through our U.S. affiliate, Interactive Brokers LLC, a U.S. registered company regulated by SEC and CFTC. A CFD is a leveraged product which carries a high degree of risk and your loss may exceed your initial investment. Therefore, CFD trading may not be suitable to all investors. You must ensure that you understand the risks involved when trading this product and seek independent advice if necessary. Certain financial products are not suitable for all investors and customers should read the relevant risk warnings before investing. Your capital is at risk and your losses may exceed the value of your original investment. Certain products (like CFDs) are covered by the UK FSCS compensation scheme whilst others may be covered under SIPC. 3 [3] For additional information visit or ibkr.co.uk/sipc and refer to your client agreement. Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA register entry number Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (http://www.sipc.org/) compensation scheme. 2

3 What is a Contract for Difference or a CFD? A CFD is an agreement to exchange the difference between the opening and closing value of a share, index or commodity An agreement between client and Interactive Brokers CFDs intended to mirror performance of the underlying, including corporate actions Available for more than 3100 global equities and 13 major share indices 3

4 Who can trade? All margin accounts excluding U.S., Canadian, Australian and Hong Kong residents The U.S. exclusion does not apply to a manager who trades through an off-shore entity 4

5 IB Share CFDs - Offering IB Share CFDs Description # Shares US S&P 500, S&P 400 Mid-Cap, DJ Industrials, Nasdaq 100, Other Liquid MidCap 1,672 UK FTSE Liquid Small Cap 509 Germany Dax, MDax, TecDax + Liquid Small Cap 159 Switzerland STOXX Europe 600 (48 Swiss shares) + Liquid Small Cap 138 France CAC Large Cap, CAC Mid Cap + Liquid Small Cap 139 The Netherlands AEX, AMS Mid Cap + Liquid Small Cap 62 Belgium BEL 20, BEL Mid Cap + Liquid Small Cap 53 Spain IBEX Czech PX 14 Sweden OMX Stockholm 30 + Liquid Small Cap 101 Finland OMX Helsinki 25 + Liquid Small Cap 38 Denmark OMX Copenhagen 20 + Liquid Small Cap 38 Japan Nikkei TOTAL 3,190 5

6 Efficiency Why Choose IB CFDs? Higher leverage Lower commissions Full tax treaty benefits for dividends No Stamp Duty - 10,000 trade incurs 50 tax Flexibility No high multiples like for futures IB Execution-Quality and Transparency IB Strength and Security 6

7 Smart Routing CFD contracts designed to mirror underlying Uses IB SmartRouter Features DMA model Algorithms and other order types available No quote widening* *(except briefly during material news announcements) 7

8 Integrated Software Low Commissions Pricing Leverage Low Interest Costs IB Advantages 8

9 TWS Integrated Software Over 100 Global electronic venues Stocks, options, futures, forex, bonds, funds, spot gold and CFDs Universal Account 9

10 Low European Commissions Trade Value * 0.05% with minimum EUR 3.00 E.g. EUR 10,000 nominal trade value incurs EUR 5.00 fee 10

11 Low US Commissions 11

12 IB Share CFDs - Pricing IB CFDs follow the direct market access model (DMA) similar to institutional swaps Stock CFD prices are equal to the SmartRouted best bid/offer of the underlying When a client submits a CFD order, IB immediately submits an identical hedge order for the underlying shares When the hedge order executes, IB fills the client s CFD at the actual execution price for the hedge The client gets the same fill as if he were trading the underlying share directly A non-marketable CFD order will create a matching non-marketable order for the underlying shares on the exchange. Clients can view "their order" on the level 2 book 12

13 IB Share CFDs Margin Efficiency and Risk Control greater notional amount of an investment Magnifying price movements - works both ways increased leverage also means increased risk CFD margins lower than margins for stocks* IB UK sets risk-based margins on OTC CFDs, rather than the regulatory margins for stocks MARGIN CFD STOCK Margin Type All Standard Portfolio Margin Margin Requirement* 10% 25% - 50% 15% * Minimum margin may be higher for volatile stocks 13

14 Low Interest Costs Trading costs impact investors bottom line Investors employing leverage must borrow from broker IB charges a low spread above a standard benchmark We challenge you to find a better combination of low commissions and low interest rates 14

15 Financing Leveraged Trades This example uses 10:1 leverage 30,000 nominal trade controls 300,000 notional value Example does not consider daily price fluctuations 15

16 IB Share CFDs Product (cont) 33 Order types are available for CFDs, including IB Algos and on-open/on-close order types IB CFDs are shortable if the shares are shortable. In fact, the IB CFD offering is often better than for the shares. IB CFDs incur the same short charges as for the shares Daily P&L (variation margin) Regular trading hours only, plus opening and closing auctions Market data subscription required for underlying Global CFD trading permission needed 16

17 IB Index CFDs Product cont. Executions are guaranteed at the quoted prices up to the bid/ask sizes (50 CFDs for IBDE30, the equivalent of 2 futures) Same margin as for the related future, adjusted for size (subject to a 5% minimum) Daily P&L variation margin Ordinary dividends are paid for the constituents of each index Corporate actions are reflected in the index level, no direct adjustments for CFD Index CFDs are shortable, like the related future European and US IB Index CFDs trade 09:00-22:00 CET. Asian IB Index CFDs trade Regular Exchange Hours Index CFD market data is free Index CFD permissions are included in the global CFD trading permission 17

18 Conclusion IB CFDs are complemented by IB s leverage, low commissions and low interest costs IB Single Universal Account offers access to multi-asset class trading at more than 100 electronic venues globally See IB MobileTrader offering for busy investors Gold Winner for Trade2Win Best CFD Broker To start trading UK CFDs, configure Trading Permissions and sign up for Market Data for the relevant underlying exchange in Account Management 18

19 Disclosures Certain financial products are not suitable for all investors and customers should read the relevant risk warnings before investing. Your capital is at risk and your losses may exceed the value of your original investment. Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (www.sipc.org) compensation scheme; products are only covered by the UK FSCS in limited circumstances. Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations. Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by calling (312) Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, please read the Security Futures Risk Disclosure Statement. A copy is available here. Exchange and Industry Sponsored Webinars are presented by unaffiliated third parties. Interactive Brokers LLC is not responsible for the content of these presentations. You should review the contents of each presentation and make your own judgment as to whether the content is appropriate for you. Interactive Brokers LLC does not provide recommendations or advice. There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets. Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Services Authority. FCA register entry number Our office in UK: 1 Carey Lane, Fifth Floor, London EC2 V8AE. Please click here. 19

Contracts for Difference. Andrew Wilkinson

Contracts for Difference. Andrew Wilkinson Contracts for Difference Andrew Wilkinson Disclaimer CFD trading of UK FTSE listed stocks is available through Interactive Brokers (U.K.) Limited. Trading of other products such as stocks, options, Australian

More information

Interactive Brokers presents

Interactive Brokers presents Interactive Brokers presents Why Become an Independent Advisor on IB s Platform? Mary MacNamara, Interactive Brokers mmacnamara@interactivebrokers.com Webinar begins @ 4:30 EDT webinars@interactivebrokers.com

More information

Mechanics of an Overseas Trade

Mechanics of an Overseas Trade Interactive Brokers presents Mechanics of an Overseas Trade Andrew Wilkinson, Interactive Brokers Webinar begins @ 12:00 pm EST webinars@interactivebrokers.com www.ibkr.com/webinars Member SIPC www.sipc.org

More information

OPTIMTRADER COMMISSIONS

OPTIMTRADER COMMISSIONS OPTIMTRADER COMMISSIONS OptimTrader offers three different accounts of commissions. and commissionable accounts shall be determined on the basis of the initial deposit, while the Premium account is determined

More information

INTERNATIONAL SECURITIES TRADING NOW YOU CAN INVEST ACROSS THE WORLD

INTERNATIONAL SECURITIES TRADING NOW YOU CAN INVEST ACROSS THE WORLD INTERNATIONAL SECURITIES TRADING NOW YOU CAN INVEST ACROSS THE WORLD YOU ARE WHAT YOU DO INTERNATIONAL SECURITIES TRADING III CONTENTS CONTENTS Welcome Welcome 1 2 Trade international securities with

More information

International Securities Trading now you can invest across the world

International Securities Trading now you can invest across the world International Securities Trading now you can invest across the world INTERNATIONAL SECURITIES TRADING iii CONTENTS Welcome 2 Trade international securities with CommSec and Pershing 2 International trading

More information

CFDs YOUR STARTER KIT

CFDs YOUR STARTER KIT CFDs YOUR STARTER KIT Risk Warning: Forex and CFDs are leveraged products and you may lose your initial deposit as well as substantial amounts of your investment. Trading leveraged products carries a high

More information

SAXO CAPITAL MARKETS UK LTD - EQUITY ACTIVE TRADER Rates and Conditions, valid from 1 July 2015

SAXO CAPITAL MARKETS UK LTD - EQUITY ACTIVE TRADER Rates and Conditions, valid from 1 July 2015 STOCKS & ETFs FLAT FEE THRESHOLD COMMISSION ABOVE MAIN MARKETS FLAT FEE (TRADE SIZE) THRESHOLD NASDAQ, NYSE & NYSE ARCA 1) Stocks 6,000 shares 0.7 cps/share London Stock Exchange 1) Stocks 5 GBP 30,000

More information

Standard commissions. Index Tracker CFD spreads. Index-tracking CFD contract details (continuous)

Standard commissions. Index Tracker CFD spreads. Index-tracking CFD contract details (continuous) Standard commissions Index Tracker CFD spreads Indextracking CFD contract details (continuous) Index Tracker Spread 1) Margin required Value of one contract 2) Trading Hours 3) US Tech 100 NAS 1.0 2% USD

More information

Price list. Forex trading rates and conditions. Contract for Difference (CFD) trading rates and conditions. Index CFD trading rates and conditions

Price list. Forex trading rates and conditions. Contract for Difference (CFD) trading rates and conditions. Index CFD trading rates and conditions Price list Forex trading rates and conditions Contract for Difference (CFD) trading rates and conditions Index CFD trading rates and conditions Stock trading rates and conditions Net Free Equity margin

More information

Price list. Forex trading rates and conditions... 2. Contract for Difference (CFD) trading rates and conditions... 3

Price list. Forex trading rates and conditions... 2. Contract for Difference (CFD) trading rates and conditions... 3 Price list Forex trading rates and conditions... 2 Contract for Difference (CFD) trading rates and conditions... 3 Index CFD trading rates and conditions... 5 Stock trading rates and conditions... 7 Net

More information

FOREIGN EXCHANGE PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574

FOREIGN EXCHANGE PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574 FOREIGN EXCHANGE PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574 Date of Issue: 19 February 2014 INDEX 1. GENERAL INTRODUCTION 4 1.1 Important Information 4 1.2 Purpose

More information

RISK DISCLOSURE STATEMENT FOR FOREX TRADING AND IB MULTI- CURRENCY ACCOUNTS

RISK DISCLOSURE STATEMENT FOR FOREX TRADING AND IB MULTI- CURRENCY ACCOUNTS RISK DISCLOSURE STATEMENT FOR FOREX TRADING AND IB MULTI- CURRENCY ACCOUNTS Rules of the U.S. National Futures Association ("NFA") require Interactive Brokers ("IB") to provide you with the following Risk

More information

Our authorisation and permission details can be found on the FCA website at www.fca.gov.uk.

Our authorisation and permission details can be found on the FCA website at www.fca.gov.uk. is authorised and regulated by the Financial Conduct Authority (FCA), FRN: 595450. We are also regulated under the Market in Financial Instruments Directive (MiFID) in regards to other offices within the

More information

How do CFDs work? CFD trading is similar to traditional share dealing, with a few exceptions.

How do CFDs work? CFD trading is similar to traditional share dealing, with a few exceptions. What is a CFD? A CFD is an agreement to exchange the difference between the opening and closing prices of the share, index or commodity between the time at which a contract is opened and the time at which

More information

Risk Disclosure RISK DISCLOSURE

Risk Disclosure RISK DISCLOSURE RISK DISCLOSURE RISK DISCLOSURE IronFX Global UK Limited ("IronFX UK" or the Company ) is authorized and regulated by the Financial Conduct Authority ( FCA formerly the FSA) under Registration No 585561,

More information

Everything You Need to Know About CFDs

Everything You Need to Know About CFDs Everything You Need to Know About CFDs Contracts for Difference, or CFDs, have been used for more than 20 years, but did not become popular with retail traders until after 2000. Essentially, a CFD is a

More information

AMEX MKT Order Imbalances Free Free. AMEX Options Depth of Book USD 10.00 USD 60.00. ArcaBook for Equities USD 10.00 USD 40.00 8

AMEX MKT Order Imbalances Free Free. AMEX Options Depth of Book USD 10.00 USD 60.00. ArcaBook for Equities USD 10.00 USD 40.00 8 United States - Market Data Securities and Futures Value Bundle 1, 2, 3, 4 USD 10.00 Waived for Activity 4 N/A US Securities and Futures Value PLUS Bundle 5 USD 5.00 N/A US Securities Lite Value Bundle

More information

Index CFDs. Index CFDs are traded without order fee on index level with the following spreads:

Index CFDs. Index CFDs are traded without order fee on index level with the following spreads: Index CFDs Index CFDs are "Over-the-Counter" (OTC) products the prices of which are laid down by the issuer. Index CFDs are based upon the price of the basic value in order to thus achieve a "Fair Value"

More information

What is stock? What drives stock prices? To introduce what Stock Index CFD is, we d like to introduce to you what stock. trading is first.

What is stock? What drives stock prices? To introduce what Stock Index CFD is, we d like to introduce to you what stock. trading is first. To introduce what Stock Index CFD is, we d like to introduce to you what stock trading is first. What is stock? our private enterprise system. They spur job creation and economic growth while creating

More information

CONTRACTS FOR DIFFERENCE

CONTRACTS FOR DIFFERENCE CONTRACTS FOR DIFFERENCE Cornhill Capital helps private client investors realise significant value in an innovative trading environment. Cornhill Capital Limited is a leading independent investment company

More information

Trading in International Equities For Professional Advisers only - not to be relied upon by retail clients

Trading in International Equities For Professional Advisers only - not to be relied upon by retail clients Trading in International Equities For Professional Advisers only - not to be relied upon by retail clients 2 ALLIANCE TRUST SAVINGS About us We are part of the Alliance Trust group and have the backing

More information

CommSec Supplementary Financial Services Guide. Issue Date: 8 July 2014

CommSec Supplementary Financial Services Guide. Issue Date: 8 July 2014 CommSec Supplementary Financial Services Guide Issue Date: 8 July 2014 ii SUPPLEMENTARY FINANCIAL SERVICES GUIDE Important information: Commonwealth Securities Ltd ABN 60 067 254 399 AFSL 238814 ( CommSec

More information

Beginner s Guide to CFDs

Beginner s Guide to CFDs Beginner s Guide to CFDs Chapters 1.1-1.3 www.trader.ge CFDs Chapter 1.1 / A Basic Description Welcome to this chapter, which will give a brief introduction to the history of CFDs. If you are already familiar

More information

Index & Futures Spread bets

Index & Futures Spread bets Our stock indices DFBs aim to replicate the cash price of the underlying index, and are therefore adjusted for dividends [8]. Notes in [square brackets] are detailed in the section below. Daily funded

More information

offering a comprehensive range of investment products and services.

offering a comprehensive range of investment products and services. Linear Investments is a global investment manager offering comprehensive range of Investments is aaglobal investment manager investment products and services Linear offering a comprehensive range of investment

More information

Tariffs & Charges Schedule for Investment Services

Tariffs & Charges Schedule for Investment Services I. ADVISORY TRADING IN INTERNATIONAL SECURITIES EQUITIES, ETFs (Buy & Sell Orders) next (Belgium, France, Netherlands); Germany (Xetra); Italy (Borsa Italiana) minimum EUR 30.00 United Kingdom (London

More information

Introductory Guide to CFDs

Introductory Guide to CFDs N E W Y O R K C H I C A G O L O N D O N D U B A I * T O K Y O S I N G A P O R E S Y D N E Y A D A Introductory Guide to CFDs Above all, Integrity. +44 (0) 207 170 0770 LONDON MAIN 0800 358 0864 FREE PHONE

More information

Portfolio Analyst. Interactive Brokers presents. Michael Cohen, Interactive Brokers. Webinar begins @ 12:00 pm EST. mcohen@interactivebrokers.

Portfolio Analyst. Interactive Brokers presents. Michael Cohen, Interactive Brokers. Webinar begins @ 12:00 pm EST. mcohen@interactivebrokers. Interactive Brokers presents Portfolio Analyst Michael Cohen, Interactive Brokers mcohen@interactivebrokers.com Webinar begins @ 12:00 pm EST webinars@interactivebrokers.com www.ibkr.com/webinars Member

More information

Shares spread bet details

Shares spread bet details We are pleased to offer thousands of different world shares, including around 1500 individual UK shares. Over 7000 shares, across the world s major indices, are available at margin rates starting from

More information

What is Forex Trading?

What is Forex Trading? What is Forex Trading? Foreign exchange, commonly known as Forex or FX, is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world

More information

Risk Warning AETOS Capital Group (UK) Limited July 2015

Risk Warning AETOS Capital Group (UK) Limited July 2015 Risk Warning AETOS Capital Group (UK) Limited July 2015 V20150710 RISK WARNING IMPORTANT PLEASE READ CAREFULLY AETOS Capital Group (UK) Limited (referred to below as we, us or our ) believe that our customers

More information

SAXO BANK S BEST EXECUTION POLICY

SAXO BANK S BEST EXECUTION POLICY SAXO BANK S BEST EXECUTION POLICY THE SPECIALIST IN TRADING AND INVESTMENT Page 1 of 8 Page 1 of 8 1 INTRODUCTION 1.1 This policy is issued pursuant to, and in compliance with, EU Directive 2004/39/EC

More information

R.J. O'Brien (UK) Limited BEST EXECUTION POLICY

R.J. O'Brien (UK) Limited BEST EXECUTION POLICY Ground Floor - 25 Copthall Avenue - London - England - EC2R 7BP BEST EXECUTION POLICY Overview of Best Execution Requirement MiFID's best execution regime requires to take all reasonable steps to obtain

More information

CFD Trading. You can lose more than your initial investment when trading CFDs

CFD Trading. You can lose more than your initial investment when trading CFDs CFD Trading You can lose more than your initial investment when trading CFDs A ccendo Markets is a market leader in financial trading services*, providing awardwinning on-line and telephone broking services

More information

CFD Product Guide. www.myfxchoice.com

CFD Product Guide. www.myfxchoice.com CFD Product Guide www.myfxchoice.com Contents Notice Risk Warning 1. Trading Hours 2. Contract Size \ Contract value 3. Tick size \Tick value\spread value 4. Margin Requirements 5. Overnight Rollover Cash

More information

EXCHANGE TRADED OPTIONS PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574

EXCHANGE TRADED OPTIONS PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574 EXCHANGE TRADED OPTIONS PRODUCT DISCLOSURE STATEMENT INTERACTIVE BROKERS LLC ARBN 091 191 141 AFSL 245 574 Date of Issue: 12 February 2014 INDEX 1. GENERAL INTRODUCTION 4 1.1 Important Information 4 1.2

More information

Risk Disclosure. Introduction. through Stofs.com falls under the CySEC licence.

Risk Disclosure. Introduction. through Stofs.com falls under the CySEC licence. Risk Disclosure Introduction AFX Capital and SuperTradingOnline (STO) are trading names of AFX Capital Markets Ltd. and AFX Markets Ltd. AFX Capital Markets Ltd. is authorised and regulated by the Cyprus

More information

Structured products. Precision tools. A guide for private investors.

Structured products. Precision tools. A guide for private investors. Structured products Precision tools. A guide for private investors. Structured products are listed securities available for trading on London Stock Exchange s regulated Main Market. Structured products

More information

STANDARD TARIFF SCALE STOCK, ADR, ETF

STANDARD TARIFF SCALE STOCK, ADR, ETF ANNEX 1 TO BROKERAGE SERVICE AGREEMENT USA Canada Mexico Austria Belgium France NORTH AMERICA Fee EUROPE Germany SWB FWB (1) Chi-X/NURO/Turqoise DE Xetra ETFs Xetra - Stocks Italy Netherlands Spain Sweden

More information

Appendix D to Tradition SEF Rulebook Equities Product Listing

Appendix D to Tradition SEF Rulebook Equities Product Listing Appendix D to Tradition SEF Rulebook Equities Product Listing Broad-Market Equity Index Swap Product Listing Tradition SEF, Inc. I. Discussion of contracts; not readily susceptible to manipulation Index

More information

CFD & FOREX TRADING RULES

CFD & FOREX TRADING RULES CFD & FOREX TRADING RULES WHS TRADING RULES Version: JAN. 2016 WH SELFINVEST Est. 1998 Luxembourg, France, Belgium, Switzerland, Germany, Netherlands Copyright 2007-2016 all rights attached to this guide

More information

CMC MARKETS UK PLC. Risk Warning Notice for CFDs. February 2014. Registered in England. Company No. 02448409

CMC MARKETS UK PLC. Risk Warning Notice for CFDs. February 2014. Registered in England. Company No. 02448409 CMC MARKETS UK PLC Risk Warning Notice for CFDs February 2014 Registered in England. Company No. 02448409 Authorised and regulated by the Financial Conduct Authority. Registration No. 173730 CMC Markets

More information

Important matters for Securities CFD

Important matters for Securities CFD Provisional Translation for Reference Purpose Only Risk Disclosure for Securities CFD Transaction (This document is given by Interactive Brokers Securities Japan, Inc. in accordance with the regulation

More information

Section 1 Important Information... 2. Section 2 Regulatory Guide 227... 2. Section 3 Features... 3. Section 4 How to Trade... 8

Section 1 Important Information... 2. Section 2 Regulatory Guide 227... 2. Section 3 Features... 3. Section 4 How to Trade... 8 CONTENTS Section 1 Important Information... 2 Section 2 Regulatory Guide 227... 2 Section 3 Features... 3 Section 4 How to Trade... 8 Section 5 Significant Risks... 32 Section 6 Costs, Fees & Charges...

More information

TRADING VERTICAL SPREADS

TRADING VERTICAL SPREADS TRADING VERTICAL SPREADS Today s Topics Quick review of vertical spreads Entering spread orders Presentation Outline Vertical Spread Basics Bull & Bear Spreads Defined Mechanics at Expiration Important

More information

CFD Disclosure Document Marketmaker TM (DD)

CFD Disclosure Document Marketmaker TM (DD) CMC Markets NZ Limited CFD Disclosure Document Marketmaker TM (DD) 9 March 2013 Company Registration Number 1705324 Table of contents Table of contents 01 Important information 5 1.1 About this DD 1.2

More information

First Prudential Markets Pty Ltd trading as FP Markets (ABN 16 112 600 281, AFS Licence No. 286354).

First Prudential Markets Pty Ltd trading as FP Markets (ABN 16 112 600 281, AFS Licence No. 286354). DISCLAIMER This education material does not constitute financial product advice and has been prepared without taking into account your personal objectives, financial situation or needs. You should consider

More information

TRADING LEVERAGE ON EXCHANGE DAILY LEVERAGE PRODUCTS

TRADING LEVERAGE ON EXCHANGE DAILY LEVERAGE PRODUCTS London 28/09/2012 TRADING LEVERAGE ON EXCHANGE DAILY LEVERAGE PRODUCTS Trading the markets conference RISK WARNING The following products are suitable for sophisticated retail and professional investors

More information

February 22, 2015 MEMORANDUM

February 22, 2015 MEMORANDUM February 22, 2015 MEMORANDUM Re: Due Diligence Information for Advisors, Brokers, Hedge Funds and Other Financial Institutions and Intermediaries Using or Considering Interactive Brokers LLC as Prime Broker/Custodian

More information

RISK DISCLOSURE STATEMENT

RISK DISCLOSURE STATEMENT RISK DISCLOSURE STATEMENT In consideration of UBFS invest powered by Moneychoice Brokers Ltd (hereafter the Company ) agreeing to enter into over-the-counter ( OTC ) contracts for differences ( CFDs )

More information

Client agreement. NEXSUS FINANCIAL MARKETS 26 York street London, W1U 6PZ

Client agreement. NEXSUS FINANCIAL MARKETS 26 York street London, W1U 6PZ Client agreement NEXSUS FINANCIAL MARKETS 26 York street London, W1U 6PZ Individual Application Form (For joint applications each applicant should complete a separate form and the required additional documentation)

More information

CONTRACTS FOR DIFFERENCE

CONTRACTS FOR DIFFERENCE CLIENT SERVICE AGREEMENT Halifax New Zealand Limited Client Service Agreement Product Disclosure Statement for CONTRACTS FOR DIFFERENCE Halifax New Zealand Limited Financial Services Provider No. 146605

More information

Exchange Traded Funds Tactical Asset Allocation Tools

Exchange Traded Funds Tactical Asset Allocation Tools Exchange Traded Funds Tactical Asset Allocation Tools Eleanor De Freitas, Catherine Barker 1 Barclays Global Investors Exchange traded funds (ETFs), combine the advantages of both index funds and stocks.

More information

Trade and Order Execution Policy for Retail and Professional Clients

Trade and Order Execution Policy for Retail and Professional Clients Trade and Order Execution Policy for Retail and Professional Clients Spread Betting and CFDs are high risk investments. Your capital is at risk. Spread Betting and CFDs are not suitable for all investors

More information

ASX CFDS PRODUCT DISCLOSURE STATEMENT

ASX CFDS PRODUCT DISCLOSURE STATEMENT ASX CFDS PRODUCT DISCLOSURE STATEMENT YOU ARE WHAT YOU DO Important notes and disclaimers Issued by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ( CommSec ) Locked Bag 34 Australia Square

More information

General Risk Disclosure

General Risk Disclosure General Risk Disclosure Colmex Pro Ltd (hereinafter called the Company ) is an Investment Firm regulated by the Cyprus Securities and Exchange Commission (license number 123/10). This notice is provided

More information

Non-Complex Products. Complex Products. General risks of trading

Non-Complex Products. Complex Products. General risks of trading We offer a wide range of investments, each with their own risks and rewards. The following information provides you with a general description of the nature and risks of the investments that you can trade

More information

CFD Trading Guide Instrument Information Section 2 May 2010

CFD Trading Guide Instrument Information Section 2 May 2010 CFD Trading Guide Instrument Information Section 2 May 2010 Contents 1 Financing and Margin...1 2 Shares...2 2.1 Trading Hours... 2 2.1.1 Normal Trading Hours...2 2.1.2 Extended Trading Hours...2 2.2 Placing

More information

C Evolution General Brochure 1114:C Gen Evolution Broch 0314 24/11/2014 12:22 Page 1 Evolution Strategy

C Evolution General Brochure 1114:C Gen Evolution Broch 0314 24/11/2014 12:22 Page 1 Evolution Strategy Evolution Strategy Introduction to Chryson Chryson is a boutique stockbroking firm, operating from Glasgow. We are regulated by the Financial Conduct Authority, reference 491208, and have been trading

More information

SPREAD BETTING OPTIONS (cash)

SPREAD BETTING OPTIONS (cash) SPREAD BETTING OPTIONS (cash) Market Symbol Dealing Spread Tradefair IM Factor Trading (Margin Req) Hours Min margin per stake (applicable to all short positions) Contract Months Last Dealing Day Basis

More information

Plus500CY Ltd. Order Execution Policy

Plus500CY Ltd. Order Execution Policy Plus500CY Ltd. Order Execution Policy Order Execution Policy This Order Execution Policy forms part of the Client Agreements as defined in the User Agreement. 1. CONDUCTING BUSINESS 1.1. We have a general

More information

Registered country information Vanguard Investment Series plc and Vanguard Funds plc

Registered country information Vanguard Investment Series plc and Vanguard Funds plc Registered country information Vanguard Investment Series plc and Vanguard Funds plc The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

More information

GBE brokers Ltd. (ex. GBE Safepay Transactions Ltd.) CONTRACT SPECIFICATIONS (release 2.0) 1

GBE brokers Ltd. (ex. GBE Safepay Transactions Ltd.) CONTRACT SPECIFICATIONS (release 2.0) 1 GBE brokers Ltd. Office 21 Loucaides Building Corner of Ayiou Andreou and Arch. Kyprianou Street 3036 Limassol, Cyprus Phone: +357 250 201 09 Fax: +357 250 288 79 Email: info@gbebrokers.com Notice This

More information

TD Direct Investing A Guide to CFDs

TD Direct Investing A Guide to CFDs TD Direct Investing A Guide to CFDs Introduction This Contracts For Difference (CFD) eguide will help you to understand more about CFDs and how they can be traded by experienced share traders who already

More information

An international exchange

An international exchange 1 # Why 1 in Seafood Why Oslo? should this be your choice An international exchange International rules and regulations based on EU standards. Same trading platform as the London Stock Exchange. Many international

More information

Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users

Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users Colmex Pro high-speed execution and advanced trading environment puts all the right tools at your disposal enabling you to take advantage

More information

CFDs An Introduction

CFDs An Introduction CFDs An Introduction Seminar Overview Who is Shorcan Index Introduction of CFDs (Contracts for Difference) Description and Benefits Examples Questions Who is Shorcan Index? Shorcan Index, is part of the

More information

GCM Prime Ltd. Risk Warning

GCM Prime Ltd. Risk Warning GCM Prime Ltd Risk Warning IMPORTANT PLEASE READ CAREFULLY You should consider the following risks before using our services. This notice cannot disclose all of the risks and you should not use our services

More information

The foreign exchange market is global, and it is conducted over-the-counter (OTC)

The foreign exchange market is global, and it is conducted over-the-counter (OTC) FOREIGN EXCHANGE BASICS TERMS USED IN FOREX TRADING: The foreign exchange market is global, and it is conducted over-the-counter (OTC) through the use of electronic trading platforms, or by telephone through

More information

RISK WARNING. Retail transactions conducted with NatureForex are not insured by any deposit insurance of any kind.

RISK WARNING. Retail transactions conducted with NatureForex are not insured by any deposit insurance of any kind. RISK WARNING High Risk Investment Margined retail foreign exchange or currency ( forex ), commodities and financial derivatives transactions are extremely risky. Trading with Nature Forex Ltd. ( NatureForex

More information

Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA)

Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA) Risk Disclosure Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA) RISK DISCLOSURE AFX Markets Ltd. ( AFX, we, us, our ) trading as SuperTradingOnline (STO) is authorised and regulated by the Financial

More information

ORDER EXECUTION POLICY

ORDER EXECUTION POLICY ORDER EXECUTION POLICY Saxo Capital Markets UK Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422. Registered address: 26th Floor, 40 Bank Street, Canary

More information

AIFMD investor information document Temple Bar Investment Trust PLC

AIFMD investor information document Temple Bar Investment Trust PLC AIFMD investor information document Temple Bar Investment Trust PLC Temple Bar Investment Trust PLC (the Company ) was incorporated in 1926 with the registered number 214601. The Company carries on business

More information

When trading Index-Tracking CFDs with G&T TRADER, you do not pay a separate commission. The only cost you will incur is the bid/ask spread.

When trading Index-Tracking CFDs with G&T TRADER, you do not pay a separate commission. The only cost you will incur is the bid/ask spread. Stock Inde Tracker CFDs Competitive Bid/Ask spreads When trading Inde-Tracking CFDs with G&T TRADER, you do not pay a separate commission. The only cost you will incur is the bid/ask spread. See minimum

More information

Schroders Investment Trust ISA

Schroders Investment Trust ISA April 2016 Key Features of the Schroders Investment Trust ISA The Financial Conduct Authority is the independent financial services regulator. It requires us, Schroders, to give you this important information

More information

FxPro Education. Introduction to FX markets

FxPro Education. Introduction to FX markets FxPro Education Within any economy, consumers and businesses use currency as a medium of exchange. In the UK, pound sterling is the national currency, while in the United States it is the US dollar. Modern

More information

SG TURBOS GEARED EXPOSURE TO AN UNDERLYING WITH A KNOCK-OUT FEATURE

SG TURBOS GEARED EXPOSURE TO AN UNDERLYING WITH A KNOCK-OUT FEATURE SG TURBOS GEARED EXPOSURE TO AN UNDERLYING WITH A KNOCK-OUT FEATURE Turbos are products suitable for UK sophisticated retail and professional investors who have a good understanding of the underlying market

More information

KEY INFORMATION DOCUMENT

KEY INFORMATION DOCUMENT KEY INFORMATION DOCUMENT PSG WEALTH CURRENCY FUTURES TRADING ACCOUNT TRADING ACCOUNT PAGE 0 This document is a summary of key information about the PSG Wealth currency futures trading account. It will

More information

CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES

CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES THE APERIO DIFFERENCE. Authors Michael Branch, CFA Ran Leshem CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES U.S. investors can capture international equity exposure

More information

INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group

INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group David M. Battan Executive Vice President and General Counsel INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group 1725 EYE STREET, N.W. SUITE 300 WASHINGTON, DC 20006 TEL (202) 530-3205 July

More information

Presentation for University of São Paulo. March 2011

Presentation for University of São Paulo. March 2011 Presentation for University of São Paulo March 2011 Disclaimer The following information contains certain forward-looking statements that reflect the Company's current views with respect to certain current

More information

1. HOW DOES FOREIGN EXCHANGE TRADING WORK?

1. HOW DOES FOREIGN EXCHANGE TRADING WORK? XV. Important additional information on forex transactions / risks associated with foreign exchange transactions (also in the context of forward exchange transactions) The following information is given

More information

Index Solutions A Matter of Weight

Index Solutions A Matter of Weight Index Solutions A Matter of Weight Newsletter No. 11 Our current newsletter is about weight, or more precisely the weighting of equities in an index. Non-market capitalization weighted indices are at present

More information

Exchange Traded Funds. An Introductory Guide. For professional clients only

Exchange Traded Funds. An Introductory Guide. For professional clients only Exchange Traded Funds An Introductory Guide For professional clients only Exchange-Traded Funds (ETFs) started to be used in Europe in the early 2000s but over the past few years they have grown their

More information

Central Securities Depository Regulation

Central Securities Depository Regulation Central Securities Depository Regulation Alignment of T+2 Settlement Period Central Securities Depository Regulation Alignment of T+2 Settlement Period The European Commission has proposed new legislation

More information

db x-trackers MSCI World High Dividend Yield Index UCITS ETF (DR) Supplement to the Prospectus

db x-trackers MSCI World High Dividend Yield Index UCITS ETF (DR) Supplement to the Prospectus db x-trackers MSCI World High Dividend Yield Index UCITS ETF (DR) Supplement to the Prospectus This Supplement contains information in relation to db x-trackers MSCI World High Dividend Yield Index UCITS

More information

Getting Started With Forex Trading: A Forex Primer. Member NASD, NYSE, SIPC, and NFA

Getting Started With Forex Trading: A Forex Primer. Member NASD, NYSE, SIPC, and NFA Getting Started With Forex Trading: A Forex Primer Member NASD, NYSE, SIPC, and NFA 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders.

More information

XIV. Additional risk information on forward transactions in CFDs

XIV. Additional risk information on forward transactions in CFDs XIV. Additional risk information on forward transactions in CFDs The following information is given in addition to the general risks associated with forward transactions. Please read the following information

More information

Contracts for Difference (CFDs)

Contracts for Difference (CFDs) Contract for Difference (CFDs) and FCA Disclosure Requirements What are Contract for Difference (CFDs) CFDs (also known as Synthetic Equity Swaps (SES)) are Over the Counter (OTC) transactions which allow

More information

NEW TO FOREX? FOREIGN EXCHANGE RATE SYSTEMS There are basically two types of exchange rate systems:

NEW TO FOREX? FOREIGN EXCHANGE RATE SYSTEMS There are basically two types of exchange rate systems: NEW TO FOREX? WHAT IS FOREIGN EXCHANGE Foreign Exchange (FX or Forex) is one of the largest and most liquid financial markets in the world. According to the authoritative Triennial Central Bank Survey

More information

Algorithmic and advanced orders in SaxoTrader

Algorithmic and advanced orders in SaxoTrader Algorithmic and advanced orders in SaxoTrader Summary This document describes the algorithmic and advanced orders types functionality in the new Trade Ticket in SaxoTrader. This functionality allows the

More information

Capital Market Linkages: How to facilitate cross border trading?

Capital Market Linkages: How to facilitate cross border trading? Capital Market Linkages: How to facilitate cross border trading? OIC Member States Stock Exchanges Forum Dr. Jochen Biedermann Istanbul, 02 October 2010 Agenda 1. About Deutsche Börse 2. Capital Market

More information

Transact Guide to Investment Risks

Transact Guide to Investment Risks Integrated Financial Arrangements plc Transact Guide to Investment Risks Integrated Financial Arrangements plc A firm authorised and regulated by the Financial Conduct Authority INTRODUCTION Transact operates

More information

GBE brokers Ltd. (ex. GBE Safepay Transactions Ltd.) CONTRACT SPECIFICATIONS (release 1.9) 1

GBE brokers Ltd. (ex. GBE Safepay Transactions Ltd.) CONTRACT SPECIFICATIONS (release 1.9) 1 GBE brokers Ltd. Office 21 Loucaides Building Corner of Ayiou Andreou and Arch. Kyprianou Street 3036 Limassol, Cyprus Phone: +357 250 201 09 Fax: +357 250 288 79 Email: info@gbebrokers.com GBE brokers

More information