CFD FX

Symbol

GFT Spread

IM Factor (Margin Req)

GFT Trading Hours

Basis of Price Used for Finance Adjustments

Minimum Size

† Tick Factor

Example Price

Lot Size of Underlying Market

Guaranteed Stops (charge / min. distance)

Last Update

AUD/CAD

10

1%

24-hour

UK 22:00

10000

.0001

0.7077

AUD100,000

 

10/11/2007 2:27:50 AM

AUD/CHF

8

1%

24-hour

UK 22:00

10000

.0001

0.9516

AUD100,000

 

7/11/2007 2:10:19 AM

AUD/HKD

25

1%

24-hour

UK 22:00

10000

.0001

0.8751

AUD100,000

 

7/11/2007 2:10:25 AM

AUD/JPY

5

1%

24-hour

UK 22:00

10000

.01

0.08

AUD100,000

4 / 50

7/11/2007 2:10:31 AM

AUD/NZD

15

1%

24-hour

UK 22:00

10000

.0001

1.201

AUD100,000

6 / 50

7/11/2007 2:10:37 AM

AUD/SGD

10

1%

24-hour

UK 22:00

10000

.0001

1.2122

AUD100,000

 

7/11/2007 2:10:43 AM

AUD/USD

4

1%

24-hour

UK 22:00

10000

.0001

0.7572

AUD100,000

3 / 40

7/11/2007 2:10:50 AM

CAD/CHF

6 to 8 from 8am to 4pm EST. 8 All other times

1%

24-hour

UK 22:00

10000

.0001

1.1091

CAD100,000

 

7/11/2007 2:11:18 AM

CAD/JPY

7

1%

24-hour

UK 22:00

10000

.01

100.95

CAD100,000

5 / 50

7/11/2007 2:11:24 AM

CHF/JPY

5

1%

24-hour

UK 22:00

10000

.01

91.02

CHF100,000

3 / 40

7/11/2007 2:11:30 AM

CHF/NOK

50

1%

24-hour

UK 22:00

10000

.0001

4.9935

CHF100,000

 

7/11/2007 2:11:36 AM

CHF/SEK

50

1%

24-hour

UK 22:00

10000

.0001

5.9724

CHF100,000

 

7/11/2007 2:11:42 AM

EUR/AUD

10

1%

24-hour

UK 22:00

10000

.0001

5.0288

EUR100,000

8 / 75

7/11/2007 2:11:55 AM

EUR/CAD

6 to 8 from 8am to 4pm EST. 8 All other times

1%

24-hour

UK 22:00

10000

.0001

1.4042

EUR100,000

8 / 50

7/11/2007 2:12:01 AM

EUR/CHF

4

1%

24-hour

UK 22:00

10000

.0001

1.5708

EUR100,000

3 / 65

7/11/2007 2:12:07 AM

EUR/CZK

50

1%

24-hour

UK 22:00

10000

.001

28.031

EUR100,000

 

7/11/2007 2:12:13 AM

EUR/GBP

3

1%

24-hour

UK 22:00

10000

.0001

0.6844

EUR100,000

3 / 30

7/11/2007 2:12:19 AM

EUR/HKD

25

1%

24-hour

UK 22:00

10000

.0001

9.9256

EUR100,000

 

7/11/2007 2:12:26 AM

EUR/HUF

100 from 12pm to 3am EST. All other times 40.

1%

24-hour

UK 22:00

10000

.01

260.7

EUR100,000

 

7/11/2007 2:12:32 AM

EUR/JPY

4

1%

24-hour

UK 22:00

10000

.01

144.46

EUR100,000

3 / 75

7/11/2007 2:12:38 AM

EUR/NOK

50 from 12pm to 3am EST. All other times 40.

1%

24-hour

UK 22:00

10000

.0001

7.7987

EUR100,000

 

7/11/2007 2:12:45 AM

EUR/NZD

12

1%

24-hour

UK 22:00

10000

.0001

1.8939

EUR100,000

12 / 75

7/11/2007 2:12:51 AM

EUR/PLN

100 to 200 from 12pm to 3am EST. All other times 30 to 35.

1%

24-hour

UK 22:00

10000

.0001

3.8456

EUR100,000

 

10/11/2007 2:31:07 AM

EUR/SEK

50 to 100 from 12pm to 3am EST. All other times 50.

1%

24-hour

UK 22:00

10000

.0001

9.3441

EUR100,000

 

10/11/2007 2:32:55 AM

EUR/USD

2

1%

24-hour

UK 22:00

10000

.0001

1.2246

EUR100,000

3 / 50

7/11/2007 2:13:32 AM

EUR/ZAR

250 to 500 from 12pm to 3am EST. All other times 100.

1%

24-hour

UK 22:00

10000

.0001

7.7197

EUR100,000

 

10/11/2007 2:33:59 AM

GBP/AUD

15

1%

24-hour

UK 22:00

10000

.0001

2.4131

GBP100,000

12 / 100

7/11/2007 2:13:45 AM

GBP/CAD

12 to 15 from 8am to 4pm EST. 15 All other times

1%

24-hour

UK 22:00

10000

.0001

2.0526

GBP100,000

10 / 85

7/11/2007 2:14:01 AM

GBP/CHF

8

1%

24-hour

UK 22:00

10000

.0001

2.2762

GBP100,000

5 / 100

7/11/2007 2:14:06 AM

GBP/HUF

200 from 12pm to 3am EST. All other times 60.

1%

24-hour

UK 22:00

10000

.01

380.94

GBP100,000

 

7/11/2007 2:14:12 AM

GBP/JPY

8

1%

24-hour

UK 22:00

10000

.01

207.11

GBP100,000

5 / 100

7/11/2007 2:14:18 AM

GBP/NOK

200 from 12pm to 3am EST. All other times 80.

1%

24-hour

UK 22:00

10000

.0001

11.2977

GBP100,000

 

10/11/2007 2:35:43 AM

GBP/NZD

25

1%

24-hour

UK 22:00

10000

.0001

2.9641

GBP100,000

20 / 100

7/11/2007 2:14:34 AM

GBP/PLN

200 from 12pm to 3am EST. All other times 80.

1%

24-hour

UK 22:00

10000

.0001

5.6175

GBP100,000

 

7/11/2007 2:14:43 AM

GBP/SEK

200 from 12pm to 3am EST. All other times 100.

1%

24-hour

UK 22:00

10000

.0001

13.4584

GBP100,000

 

7/11/2007 2:14:52 AM

GBP/SGD

20

1%

24-hour

UK 22:00

10000

.0001

2.9224

GBP100,000

 

7/11/2007 2:15:00 AM

GBP/USD

3

1%

24-hour

UK 22:00

10000

.0001

1.8656

GBP100,000

3 / 75

7/11/2007 2:15:07 AM

HKD/JPY

300

1%

24-hour

UK 22:00

10000

.0001

15.0228

HKD100,000

 

7/11/2007 2:15:13 AM

NOK/SEK

10 from 12pm to 3am EST. All other times 40 to 50.

1%

24-hour

UK 22:00

10000

.0001

1.1929

NOK100,000

 

10/11/2007 2:37:18 AM

NZD/CAD

10

1%

24-hour

UK 22:00

10000

.0001

0.7106

NZD100,000

 

7/11/2007 2:15:30 AM

NZD/CHF

10

1%

24-hour

UK 22:00

10000

.0001

0.7672

NZD100,000

 

7/11/2007 2:15:37 AM

NZD/JPY

7

1%

24-hour

UK 22:00

10000

.01

69.86

NZD100,000

 

7/11/2007 2:15:44 AM

NZD/SEK

80 to 100 from 12pm to 3am EST. All other times 50 to 100.

1%

24-hour

UK 22:00

10000

.0001

4.7372

NZD100,000

 

10/11/2007 2:57:00 AM

NZD/SGD

10

1%

24-hour

UK 22:00

10000

.0001

1.0031

NZD100,000

 

7/11/2007 2:16:14 AM

NZD/USD

4

1%

24 hour

UK 22:00

10000

0.0001

0.6098

NZD100,000

3 / 30

10/11/2007 2:55:28 AM

SGD/JPY

10

1%

24-hour

UK 22:00

10000

.01

72.35

NZD100,000

 

7/11/2007 2:16:29 AM

USD/CAD

4 to 5

1%

24-hour

UK 22:00

10000

.0001

1.1003

USD100,000

3 / 40

7/11/2007 2:16:38 AM

USD/CHF

4

1%

24-hour

UK 22:00

10000

.0001

1.2201

USD100,000

3 / 40

7/11/2007 2:16:46 AM

USD/CZK

30

1%

24-hour

UK 22:00

10000

.001

22.13

USD100,000

 

10/26/2007 5:40:59 AM

USD/DKK

30 from 12pm to 3am EST. All other times 15

1%

24-Hour

UK 22:00

10000

0.0001

6.1309

USD100,000

 

7/11/2007 2:17:01 AM

USD/HKD

25

1%

24-hour

UK 22:00

10000

.0001

7.7756

USD100,000

 

7/11/2007 2:17:08 AM

USD/HUF

30 from 12pm to 3am EST. All other times 50.

1%

24-hour

UK 22:00

10000

.01

215.45

USD100,000

 

7/11/2007 2:17:16 AM

USD/JPY

3

1%

24-hour

UK 22:00

10000

.01

118.86

USD100,000

3 / 50

7/11/2007 2:17:44 AM

USD/MXN

60 to 150 from 12pm to 8am EST. All other times 250.

1%

24-hour

UK 22:00

10000

.0001

11.0139

USD10,000

 

7/9/2007 3:33:44 AM

USD/NOK

50

1%

24-hour

UK 22:00

10000

.0001

6.1448

USD10,000

 

7/9/2007 3:33:51 AM

USD/PLN

100 to 200 from 12pm to 3am EST. All other times 30/35

1%

24-Hour

UK 22:00

10000

0.0001

2.8244

USD100,000

 

7/11/2007 2:21:14 AM

USD/SEK

50

1%

24-hour

UK 22:00

10000

.0001

7.3339

USD100,000

 

7/11/2007 2:18:03 AM

USD/SGD

7

1%

24-hour

UK 22:00

10000

.0001

1.5688

USD100,000

 

7/11/2007 2:18:13 AM

USD/ZAR

250 to 500 from 12pm to 3am EST. All other times 100.

1%

24-Hour

UK 22:00

10000

0.0001

7.052

USD100,000

 

10/11/2007 2:59:53 AM

ZAR/JPY

600

1%

24-hour

UK 22:00

10000

.0001

15.7619

ZAR100,000

 

7/11/2007 2:18:29 AM

 

Our FX CFDs are a special form of CFD which give you exposure to underlying exchange rates BUT they are cash-settled, so they cannot result in delivery of the underlying currency.

† Tick Factor = the price increment representing 1 whole trading unit, by which P&L and both initial and variation margin is calculated. For non-FX CFDs, the Notional Value of your underlying transaction is Price * Number of CFDs/Tick Factor.

All of GFC’s FX markets are based on the spot FX markets. For more details on how these markets work, please see Examples.

Our currency markets are traded 24 hours. Any trades not closed out by approximately 22:00 UK time will be subject to a finance adjustment (credit or debit).

Finance adjustments are made to trades held overnight (i.e. after 22:00 UK time) on rolling markets. For trades on currencies, this is calculated as follows:

f = (s x p x r) / d

where

f = daily financing charge

s = the number of CFDs you hold in the 2nd currency

p = roll-over price (the GFC  mid-price at 22:00 UK time that day)

r = differential of relevant overnight LIBOR rate of 1st named currency and that of 2nd named currency.

d = number of days, i.e.360

If the first currency has a higher interest rate, then you are credited interest for running a long position and debited interest for running a short position.

If the first currency has a lower interest rate, then you are debited interest for running a long position and credited interest for running a short position.

 

A quick way to work out potential profit is to think of the value of one “pip”, i.e. for GBP/USD, for 100,000 CFDs each pip has a value of $10)

Minimum / Maximum Trade Sizes

Maximum trading sizes vary according to underlying liquidity, market conditions and whether the underlying market is classed as being quoted by GFC  as “out of hours”, i.e. outside of regular trading hours.

The market information sheets indicate the usual minimum and maximum trading sizes in GBP; currency equivalents apply for non-GBP accounts, or when trading on markets denominated in a currency other than GBP.

Restrictions may be applied to maximum trade sizes whether opening or closing.

The minimum number of CFDs (or “trade size”) for markets with GFC is 100 for individual equities, and 1 CFD for all other markets. The lot size of the corresponding underlying market is provided for your information, as a guide to minimum market trading size.

When you trade CFDs you are always trading the in “base” currency of the underlying market. E.g. if you trade a US share, you are trading in US dollars per one cent movement.

Trading Hours

Times shown are GFC  usual times for trading a market; these may vary e.g. on market holidays and where daylight saving applies.

Unless indicated otherwise, times shown are London time.

Our normal dealing hours are from 22:00 Sunday to 22:00 on Friday.

Spreads

The spreads shown may vary according to underlying market liquidity, or in “fast markets”.