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What does CMC Markets charge on converting foreign currency profit or loss into my home currency?
If you are trading foreign exchanges products on our CFD platform there is a charge of 30 basis points (0.3%) to convert foreign currencies into your home currency.
Where do you derive your FX prices from?
Prices streamed from our liquidity providers (November 2015 – Deutsche Bank, JP Morgan, Barclays, Goldman, UBS, Citibank and HSBC) are consumed by our automated pricing engine where the ‘best’ and most representative price is used to create our quotes on which clients trade.
Is one unit the same as $1 per point when trading foreign exchange?
One forex CFD unit is equivalent to one unit of the first name currency within the forex pair. If you require assistance with calculating your desired trade size, please contact our Client Management team.
Can I convert currencies using a CMC Markets account?
No, we do not offer currency exchange facilities.
How is the holding cost on FX calculated?
Holding rates for FX are based on the tom-next rate in the underlying market for the currency pair and are expressed as an annual percentage, with an additional CMC Markets charge of 1% added. To view the holding rates for individual FX pairs, please refer to the 'Product Overview' for the relevant pair.