INTERTRADER BLACK MARKET PRICING
With an Intertrader Black account you can trade DMA equities and equity options, indices, FX and commodities. Please contact us at cs.black@intertrader.com or +44 203 617 5560 for further information.
Please note that all margin rates are indicative only. All times are UK time unless otherwise stated.
DMA equities
| Region | Commission: daily contract | Margin rate |
|---|---|---|
| UK (FTSE 100) | from 0.10% | from 10% |
| UK (other) | from 0.10% | from 25% |
| UK (market maker) | from 0.25% | from 25% |
| US (major) | from 1 cent per share | from 10% |
| US (other) | from 2 cents per share | from 15% |
| Europe (major) | from 0.10% | from 10% |
| Europe (other) | from 0.25% | from 10% |
| Canada (major) | from 3 cents per share | from 20% |
| Canada (other) | from 3 cents per share | from 50% |
Indices: daily
| Market | Spread | Trading hours | Margin rate |
|---|---|---|---|
| UK 100 | 2 1 2 4 3 | 07.00-08.00 08.00-16.30 16.30-21.00 21.00-01.00 01.00-07.00 | 1% |
| Wall Street | 2.4 1.6 9.8 9.8 3.8 | 08.00-14.30 14.30-21.00 21.15-21.30 22.00-23.00 other times | 1% |
| US 500 | 0.4 0.6 1.5 1.5 | 14.30-21.00 21.00-14.30 21.15-21.30 22.00-23.00 | 1% |
| US Tech 100 | 1 2 5 5 | 14.30-21.00 21.00-14.30 21.15-21.30 22.00-23.00 | 1% |
| US Russell 2000 | 0.8 0.8 0.3 | 21.15-21.30 22.00-23.00 other times | 1% |
| EU Stocks 50 | 1.5 3 2 | 07.00-21.00 21.00-00.15 00.15-07.00 | 1% |
| France 40 | 3 2 1 2 4 | 00.15-07.00 07.00-08.00 08.00-16.30 16.30-21.00 21.00-00.15 | 1% |
| Germany 30 | 4 2 1 2 5 | 00.15-07.00 07.00-08.00 08.00-16.30 16.30-21.00 21.00-00.15 | 1% |
| Italy 40 | 8 8* 38 | 08.00-16.50 16.50-19.30 19.30-08.00 | 1% |
| Spain 35 | 5* 5 5* 12 | 07.00-08.00 08.00-16.30 16.30-19.00 19.00-07.00 | 1.5% |
| Switzerland Blue-Chip | 2* 6 | 07.01-20.59 20.59-07.01 | 1% |
Note: all spreads are fixed unless otherwise indicated by an asterisk (in which case variable spreads are added to the underlying market spread).
FX: spot
Please contact us at cs.black@intertrader.com or +44 203 617 5560 if the FX instrument you wish to trade does not appear below.
| Market | Spread from (in pips) | Trading hours | Unit risk | Margin rate |
|---|---|---|---|---|
| CAD/CHF | 2.5 | 24 hrs | 0.0001 | 5% |
| CAD/JPY | 2 | 24 hrs | 0.01 | 2% |
| CHF/JPY | 2 | 24 hrs | 0.01 | 5% |
| EUR/CAD | 2.5 | 24 hrs | 0.0001 | 2% |
| EUR/CHF | 2 | 24 hrs | 0.0001 | 5% |
| EUR/GBP | 0.9 | 24 hrs | 0.0001 | 2% |
| EUR/JPY | 1.5 | 24 hrs | 0.01 | 2% |
| EUR/USD | 0.6 | 24 hrs | 0.0001 | 2% |
| GBP/CAD | 3 | 24 hrs | 0.0001 | 2% |
| GBP/CHF | 3 | 24 hrs | 0.0001 | 5% |
| GBP/JPY | 2.5 | 24 hrs | 0.01 | 2% |
| GBP/USD | 0.9 | 24 hrs | 0.0001 | 5% |
| USD/CAD | 1.3 | 24 hrs | 0.0001 | 2% |
| USD/CHF | 1.5 | 24 hrs | 0.0001 | 5% |
| USD/JPY | 0.7 | 24 hrs | 0.01 | 2% |
| AUD/CAD | 1.5 | 24 hrs | 0.0001 | 2% |
| AUD/CHF | 2 | 24 hrs | 0.01 | 5% |
| AUD/JPY | 1.3 | 24 hrs | 0.01 | 2% |
| AUD/NZD | 2.5 | 24 hrs | 0.0001 | 2% |
| AUD/USD | 0.6 | 24 hrs | 0.0001 | 5% |
| EUR/AUD | 1.8 | 24 hrs | 0.0001 | 2% |
| EUR/NZD | 3 | 24 hrs | 0.0001 | 2% |
| GBP/AUD | 1.9 | 24 hrs | 0.0001 | 2% |
| GBP/NZD | 5 | 24 hrs | 0.0001 | 2% |
| NZD/CHF | 4 | 24 hrs | 0.0001 | 5% |
| NZD/JPY | 2 | 24 hrs | 0.01 | 5% |
| EUR/SGD | 4 | 24 hrs | 0.0001 | 2% |
| EUR/ZAR | 150 | 24 hrs | 0.0001 | 2.5% |
| GBP/SGD | 5 | 24 hrs | 0.01 | 2% |
| GBP/ZAR | 200 | 24 hrs | 0.01 | 2.5% |
| USD/SGD | 3 | 24 hrs | 0.01 | 2% |
| EUR/DKK | 10 | 24 hrs | 0.0001 | 5% |
| EUR/NOK | 25 | 24 hrs | 0.0001 | 2% |
| EUR/SEK | 30 | 24 hrs | 0.0001 | 2% |
| USD/DKK | 15 | 24 hrs | 0.0001 | 5% |
| USD/NOK | 25 | 24 hrs | 0.0001 | 2% |
| USD/SEK | 25 | 24 hrs | 0.0001 | 2% |
| EUR/CZK | 25 | 24 hrs | 0.01 | 5% |
| EUR/HUF | 20 | 24 hrs | 0.01 | 2% |
| EUR/MXN | 100 | 24 hrs | 0.0001 | 2.5% |
| EUR/PLN | 25 | 24 hrs | 0.0001 | 2% |
| GBP/CZK | 30 | 24 hrs | 0.01 | 5% |
| USD/CZK | 25 | 24 hrs | 0.01 | 5% |
| USD/MXN | 50 | 24 hrs | 0.0001 | 2.5% |
FX: forward
Available on request. Please contact us at cs.black@intertrader.com or +44 203 617 5560 for further details.
Commodities: spot
| Market | Spread | Trading hours (electronic trading) | Trading hours (phone broking) | Trade size = one contract | Margin rate |
|---|---|---|---|---|---|
| Gold | 0.3 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $100 | 3% |
| High-Grade Copper | 20 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $2.50 | 3% |
| Palladium | 1.2 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $100 | 5% |
| Platinum | 1.8 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $50 | 3% |
| Silver | 2 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $50 | 3% |
| Crude Oil (Brent) | 2.8 | 01.00-23.00 | 07.30-22.00 | $10 | Exchange |
| Crude Oil (US) | 2.8 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $10 | Exchange |
| Heating Oil | 20 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $4.20 | Exchange |
| London Gas Oil | 0.6 | 01.00-23.00 | 07.30-22.00 | $100 | Exchange |
| Natural Gas | 3 | 24 hrs (except 22.00-23.00) | 07.30-22.00 | $10 | Exchange |
| Cocoa (London) | 3 | 09.30-16.50 | 09.30-16.50 | £10 | Exchange |
| Cocoa (New York) | 4 | 09.45-18.30 | 09.45-18.30 | $10 | Exchange |
| Coffee Arabica (New York) | 20 | 09.15-18.30 | 09.15-18.30 | $3.75 | Exchange |
| Coffee Robusta (London) | 3 | 09.00-17.30 | 09.00-17.30 | $10 | Exchange |
| Corn | 0.6 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $50 | Exchange |
| Cotton (New York) | 15 | 02.00-19.20 | 07.30-19.20 | $5 | Exchange |
| Feeder Cattle | 14 | 14.30-19.05 | 14.30-19.05 | $5 | Exchange |
| Lean Hogs | 10 | 14.30-19.05 | 14.30-19.05 | $4 | Exchange |
| Orange Juice | 24 | 13.00-19.00 | 13.00-19.00 | $1.50 | Exchange |
| Live Cattle | 12 | 14.30-19.05 | 14.30-19.05 | $4 | Exchange |
| Lumber | 60 | 15.00-22.00 | 15.00-22.00 | $1.10 | Exchange |
| Oats | 0.6 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $50 | Exchange |
| Rough Rice | 20 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $2 | Exchange |
| Soyabean Meal | 40 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $1 | Exchange |
| Soyabean Oil | 6 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $6 | Exchange |
| Soyabeans | 1.2 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $50 | Exchange |
| Sugar (London No. 5) | 0.6 | 08.45-17.55 | 08.45-17.55 | $50 | Exchange |
| Sugar (New York No. 11) | 3 | 08.30-18.00 | 08.30-18.00 | $11.20 | Exchange |
| Wheat (Chicago) | 0.6 | 01.00-13.45 14.30-19.20 | 07.30-13.45 14.30-19.20 | $50 | Exchange |
| Wheat (London) | 0.4 | 09.30-17.28 | 09.30-17.28 | £100 | Exchange |
| US Dollar Basket (Undated) | 5 | 01.00-22.00 | 07.30-22.00 | $10 | Exchange |
| US Dollar Basket | 8 | 01.00-22.00 | 07.30-22.00 | $10 | Exchange |
Commodities: futures
| Market | Spread | Trading hours | Min. trade size | Trade size = one contract | Margin rate |
|---|---|---|---|---|---|
| Aluminium* | 8 | 01.00-18.00 | £2 | $25 | 4.05% |
| Copper* | 10 | 01.00-18.00 | £2 | $25 | 3.6% |
| Gold | 0.6 | 24 hours (except 22.00-23.00) | £5 | $100 | 0.45% |
| High-Grade Copper | 40 | 24 hours (except 22.00-23.00) | £0.50 | $2.50 | 1.8% |
| Lead* | 8 | 01.00-18.00 | £2 | $25 | 4.5% |
| Nickel* | 40 | 01.00-18.00 | £0.50 | $6 | 4.95% |
| Palladium | 2 | 24 hours (except 22.00-23.00) | £10 | $100 | 2.7% |
| Platinum | 2 | 24 hours (except 22.00-23.00) | £5 | $50 | 1.8% |
| Silver | 3 | 24 hours (except 22.00-23.00) | £3 | $50 | 1.8% |
| Zinc* | 8 | 01.00-18.00 | £2 | $25 | 4.05% |
| Brent Crude | 6 | 01.00-23.00 | £1 | $10 | 1.35% |
| Carbon Emissions | 6 | 07.00-17.00 | £4 | €10 | 9% |
| Heating Oil | 30 | 24 hours (except 22.00-23.00) | £1 | $4.20 | 1.35% |
| London Gas Oil | 1 | 01.00-23.00 | £30 | $100 | 2.25% |
| Natural Gas | 20 | 24 hours (except 22.00-23.00) | £1 | $10 | 3.15% |
| No Lead Gasoline | 30 | 24 hours (except 22.00-23.00) | £1 | $4.20 | 1.35% |
| Cocoa (London) | 4 | 09.30-16.50 | £2 | £10 | 2.7% |
| Cocoa (New York) | 8 | 09.45-18.30 | £2 | $10 | 4.05% |
| Coffee Arabica (New York) | 40 | 09.15-18.30 | £1 | $3.75 | 3.15% |
| Coffee Robusta (London) | 4 | 09.00-17.30 | £2 | $10 | 2.7% |
| Corn | 1 | 01.00-13.45 14.30-19.20 | £15 | $50 | 2.25% |
| Cotton (New York) | 25 | 02.00-19.20 | £1 | $5 | 1.8% |
| Feeder Cattle | 20 | 14.30-19.05 | £1 | $5 | 2.25% |
| Lean Hogs | 15 | 14.30-19.05 | £1 | $4 | 3.15% |
| Orange Juice | 40 | 13.00-19.00 | £0.50 | $1.50 | 2.25% |
| Live Cattle | 20 | 14.30-19.05 | £1 | $4 | 1.8% |
| Lumber | 100 | 15.00-22.00 | £0.50 | $1.10 | 2.7% |
| Oats | 1 | 01.00-13.45 14.30-19.20 | £15 | $50 | 2.7% |
| Rough Rice | 40 | 01.00-13.45 14.30-19.20 | £0.50 | $2 | 2.25% |
| Soyabean Meal | 80 | 01.00-13.45 14.30-19.20 | £0.25 | $1 | 2.7% |
| Soyabean Oil | 10 | 01.00-13.45 14.30-19.20 | £2 | $6 | 1.8% |
| Soyabeans | 2 | 01.00-13.45 14.30-19.20 | £15 | $50 | 1.35% |
| Sugar (London No. 5) | 0.8 | 08.45-17.55 | £15 | $50 | 2.7% |
| Sugar (New York No. 11) | 5 | 08.30-18.00 | £3 | $11.20 | 1.8% |
| Wheat (Chicago) | 1 | 01.00-13.45 14.30-19.20 | £15 | $50 | 1.35% |
| Wheat (London) | 0.5 | 09.30-17.28 | £50 | £100 | 1.8% |
Note: markets indicated by an asterisk are daily contracts based on three-month forward prices for the underlying instrument.
Options: indices
| Options market | Spread range | Trading hours (electronic trading) | Trading hours (phone broking) | Trade size = one contract |
|---|---|---|---|---|
| UK 100 daily | 3-6 | 24 hrs with gaps | 07.30-22.00 | £10 |
| Wall Street daily | 4-7 | 24 hrs with gaps | 07.30-22.00 | $10 |
| US 500 daily | 0.3-1.0 | 24 hrs with gaps | 07.30-22.00 | $100 |
| France 40 daily | 3-6 | 08.00-16.30 | 08.00-16.30 | €10 |
| Germany 30 daily | 3-6 | 24 hrs | 07.30-22.00 | €5 |
| Italy 40 daily | 12-16 | 08.00-16.30 | 08.00-16.30 | €5 |
| Spain 35 daily | 5-12 | 08.00-16.30 | 08.00-16.30 | €10 |
Notes
- Spreads are subject to variation, especially in volatile market conditions. If the underlying market spread increases significantly, our spread may likewise increase.
- All daily or cash contracts are subject to funding adjustments, if your position is kept open overnight (after 10pm UK time). Please contact us for more details of how these adjustments are calculated. For all futures and forwards, funding charges are built into the dealing spread.
- We operate a tiered margin structure, which means that you may be subject to higher deposit requirements for larger position sizes. Please contact us for more information on our tiered margins.
- These margin rates only apply to professional clients. The Intertrader Black account is only available to clients who successfully apply for professional classification.