InterTrader offers spread betting and CFD trading on stock
indices, shares, forex, commodities, interest rates and bonds. Please note that settlement rules differ between product
types: we offer Futures (which expire at a given future date and time) and Rolling Daily contracts (which automatically
roll over from day to day).
For each position you open with InterTrader you need to put down a margin deposit. This is automatically calculated when you place your trade, based on the full value of your position and the leverage rate quoted in the tables above.
For example, if you are opening a £1/point spread bet on UK 100 at 7000 and our leverage rate for UK 100 is 200:1, your initial margin requirement will be £1 x 7000 (position value) / 200 (leverage rate) = £35.
Or if you buy 5 CFDs of GBP/USD (lot size = £100,000) and our leverage rate for GBP/USD is 100:1, your initial margin requirement will be 5 x £100,000 (position value) / 100 (leverage rate) = £5000.
Note that, when you’re trading on the MT4 platform, your margin requirement is not affected by the attachment of a stop-loss order to your position.
Also please note that, while the margin rate on the web-based platform is given as a percentage of our position value and the margin rate on the MT4 platform is given as a ratio, these are simply two different ways of expressing the proportion of your position value that is required as margin. The essential mechanism is the same.
It is solely your responsibility to monitor your positions and ensure your account is funded to support them. If your equity (your account balance plus/minus your running profit/loss) falls to 50% of your total margin commitment, InterTrader may at its discretion close all of your positions to prevent you from going into negative equity. This percentage is shown as your ‘margin level’ on the MT4 platform. To avoid automatic closure you can either close some of your positions or add more funds to your account. Please read the Customer Agreement in full.
A financing adjustment is applied on forex and indices to reflect the daily interest cost of holding your position overnight. For forex the rate is calculated as the central bank interest rate of the second-named currency minus the central bank interest rate of the first-named currency, plus 1% for long positions or minus 1% for short positions. For indices the rate is calculated as LIBOR +/– 2.5%. In each case the annual interest cost is converted into a daily basis. For more details on overnight financing please see our FAQs.
For forex CFDs the contract size is 100,000 of the first-named currency, e.g. 1 CFD of USD/JPY is $100,000. For index CFDs the contract size is 1 unit of the quoted currency per point, e.g. 1 CFD of Germany 30 is €1 per point.
Our trading hours given in GMT. The underlying market hours are driven by local time in the country of origin, and as such there may be seasonal adjustments such as daylight saving hours. A change to trading hours will be posted on our website not on this page.
When the underlying market is open we will operate our tightest spreads. When the market is closed and goes ‘grey’ we will operate wider spreads which may vary by time. Our spreads may also vary according to underlying liquidity or in fast-moving market conditions.
If you have an open position on an index and a stock within that index goes ex-dividend, we will make cash adjustments on the ex-dividend date to reflect the ex-dividend change in value of the index. Clients with long positions on an index will be credited this adjustment and clients with short positions will be debited. For more details on dividend adjustments please see our FAQs.
Expiry is based on the CBOE official settlement price and date which can be reviewed here. The index will be closed for trading at 13:00 on the expiration date. The new contract will be available for trading on Monday prior to the expiration date.
We offer future Oil markets that expire when underlying market expires. We also offer rolling daily contracts for oil markets on MT4 (monthly libor +/-2,5 % annualized financing charge). For more information please contact us
All details are correct at time of compilation. However, these tables are to be used as a guide only as their content may change. InterTrader reserves the right to alter the contract specifications at any time.
Last document review date: 19/09/2016
Spread betting and CFD trading are leveraged products and as such carry a high level of risk to your capital which can result in losses greater than your initial deposit. These products may not be suitable for all investors. CFDs are not suitable for pension building and income. Ensure you fully understand all risks involved and seek independent advice if necessary.
InterTrader is a trading name of InterTrader Limited which is owned and controlled by GVC Holdings PLC. InterTrader Limited is authorised and regulated by the Gibraltar Financial Services Commission and registered with the Financial Conduct Authority in the UK, ref 597312. Registered address: Suite 6, Atlantic Suites, Europort Avenue, Gibraltar.