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 spread betting and CFDs on the MT4 platform please see our MT4 Market Info
|Market||Spread*||Margin rate†||Lowest possible margin**||Spread with max.|
|UK 100 (Rolling Daily)||1||0.5%||£20.01||0.9|
|Germany 30 (Rolling Daily)||1||0.5%||£33.35||0.9|
|Wall Street (Rolling Daily)||1.6||0.5%||£58.11||1.44|
|US Tech 100 (Rolling Daily)||1||0.5%||£16.90||0.9|
|EUR/USD (Rolling Daily)||0.6||0.5%||£31.50||0.54|
|EUR/GBP (Rolling Daily)||0.9||0.5%||£23.91||0.81|
|USD/JPY (Rolling Daily)||0.7||0.5%||£29.52||0.63|
|AUD/USD (Rolling Daily)||0.9||0.5%||£21.94||0.81|
|GBP/USD (Rolling Daily)||1.2||0.5%||£36.16||1.08|
|Gold (Rolling Daily)||4||1%||£11.62||3.6|
|Brent Crude (Rolling Daily)||3||1%||£31.81||2.7|
|WTI Crude (Rolling Daily)||3||1%||£27.56||2.7|
|UK 100 shares||0.1%||From 5%||Differs per market||0.9%|
|Major US shares||2.95c||From 5%||Differs per market||2.655c|
*Spreads apply during market hours. For individual shares our spread is added either side of the market spread.
†Margin is calculated as a percentage of your full position value. Your initial margin requirement may be reduced if you have a stop-loss order attached to your position.
**Based on price levels observed on 15 September 2017, the margin required to open a £1/point position with a stop-loss attached at the minimum distance (i.e. 1 point outside the spread).
††The rebate is paid at the end of the month to clients who have traded in sufficient volume. Spreads in this column are reduced by the maximum rebate of 10%.
Rolling contracts automatically ‘roll’ over from one day to the next trading day. (They have a nominal expiry date but this is many years in the future.) Any attached orders remain attached to the rolled position, and an overnight financing charge is applied for each night the contract is held open: this may be credit or a debit to your account, reflects the interest cost of holding your position. When a corporate action or dividend affects the underlying market, we may make a corresponding cash adjustment to your account. Full details can be found in our FAQs.
Futures contracts expire at a given future date. You can either close the contract before expiry or let it close automatically at the expiry date. The price of a futures contract factors in a ‘cost of carry’ to the expiry date (which includes the time to expiry and interest costs) and so no overnight financing charges are necessary in this case.
Your initial margin requirement is the amount of unencumbered trading resources you need to open a position, and is determined by multiplying the margin rate quoted in the table by the overall value of your position. For example, the margin rate for UK 100 (Rolling Daily) is 0.5% so, supposing you wish to trade £5 per point and your opening level is 6000, you will need a minimum of £150 in available funds on your account (as 0.5% x (£5 x 6000) = £150). If you have a stop-loss attached to your position your margin is calculated as 50% of the normal margin requirement, plus your risk per point multiplied by your stop distance (should this total be lower than the normal requirement). So in the above example, if you have a stop 10 points from your opening distance, your margin requirement will be (50% x £150) + (£5 x 10) = £125.
Most of our markets are offered on a ‘fill or kill’ basis, whereby your trade or order is either executed in full or rejected if this is not possible due to insufficient liquidity or excessive price movement. However, certain markets (namely UK shares for spread betting and CFD trading, and European shares for CFD trading) are offered on a ‘partial fill’ basis. This means that, if full execution of your trade or order is not possible due to market conditions, we will fill that part of your trade or order which is possible. For example, you may request to buy £100/point of Vodafone but if this full execution is not possible you might be partially filled with an open position of £75/point.
Sometimes the relevant regulators may place short selling restrictions on some of the equity markets we quote, so you will not be allowed to hold short positions in these markets. We will attempt to keep you informed of such regulatory changes, but please understand that it is your responsibility to know which shares you can and cannot short. If you place a trade in contravention to these restrictions we may, solely at our discretion, close any such position without notice to you. We will close positions at either the current quote or at the entry level plus our spread. You will be liable for any loss you might incur as a result of such an action by us and you may also be liable to action taken by the regulator due to your contravention of the regulation. If you have a query about a specific market please check with the relevant exchange, or contact our team who will be pleased to help.
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.