FX CFD Margin and charges

1. Spread

Currency pair	Minimum spread
EUR/NOK	36.8
EUR/SEK	18.5
USD/DKK	12.7
USD/NOK	22.1
USD/SEK	8.9
CHF/JPY	2.2
EUR/CAD	3.4
GBP/CHF	3.2
GBP/JPY	2
USD/HKD	4.9
USD/SGD	4.3
USD/ZAR	58.8
AUD/USD	0.5
EUR/CHF	2.1
EUR/GBP	1.1
EUR/JPY	1.1
EUR/USD	0.5
GBP/USD	1.1
USD/CAD	1.5
USD/CHF	1.5
USD/JPY	0.7
USD/CZK	192.01
USD/HUF	8.1
USD/ILS	40.1
USD/MXN	118.1
USD/PLN	14.1
USD/TRY	290.9
USD/CNH	19.3
AUD/CAD	3.2
AUD/JPY	1.2
AUD/NZD	1.6
EUR/AUD	2.8
GBP/AUD	2.8
NZD/CAD	3.9
NZD/USD	1.1

 

2. Overnight fee

It is a fee whereby you are required to pay to keep your CFD FX position open beyond 10 p.m. UK time, while this may vary for local and global. uSMART will adjust your account's interest rate to reflect the cost of funding your position.

 

How do we calculate overnight fee?

We take tom-next rate from the underlying market + 0.5%.

**Tom-next rate is a short-term forex transaction that enables traders to simultaneously buy and sell a currency over two business days. It is to prevent traders from having to take physical delivery of currency, while keeping their forex positions open overnight.

 

3. Currency conversion charge

CFD FX account base currency is default as USD. When trading in a currency other than the base currency, uSMART will convert the foreign-currency profit/loss, commission or any other charges incurred to the base currency automatically. Our currency conversion charge is 0.5%.

 

4. FX CFD margin requirement

You may refer to the margin requirement reflected on our mobile application for each currency pair. 

 

5. Read CFD risks.

CFD trading may not be suitable for investors with low risk tolerance level due to low industry regulations, potential lack of liquidity and the need to always maintain an adequate margin from leveraged losses.

Losing more than your deposits and making further payments may be a possibility. If the position moves against you by a certain percentage, you may lose more than your deposit.

The type of position, and the duration of you holding the positions, you may incur holding costs.

Due to the fact you need to maintain certain margin requirements, you need to always have sufficient funds in your account. Failure to do so may led to your position in being closed. You need to take account of market volatility and price sensitive news which may affect your account balance.

Please note that you will need to acknowledge the Client Agreement and the Risk Fact Sheet for CFD before you are allowed to trade in CFDs.