The overnight holding rate used when calculating the applicable holding costs on FX comes from the tom-next rate, which is the difference between the two currencies’ interest rates, with an additional 0.0027% CMC Markets charge added. Learn more about CFD holding costs.
You’ll be charged holding costs for three days on a Wednesday or Thursday, which factors in Saturday and Sunday, as shown in the table below.
USD/CAD, USD/TRY, TRY/CAD, CAD/TRY | All other FX pairs, FX indices, Gold, Silver, Precious Metals Index | |
Monday 5pm (EST) | X1 holding Cost rate | X1 holding cost rate |
Tuesday 5pm (EST) | X1 holding cost rate | X1 holding cost rate |
Wednesday 5pm (EST) | X1 holding cost rate | X3 holding cost rate |
Thursday 5pm (EST) | X3 holding cost rate | X1 holding cost rate |
Friday 5pm (EST) | X1 holding cost rate | X1 holding cost rate |
In order to open a position you will be required to deposit an amount of money known as margin. The margin required reflects a percentage of the full value of the position. The first step is to establish the margin rate for the instrument you are trading. Margin rates can be found within the trading platform by selecting 'Library' (which displays the full list of products) from the top navigation toolbar, then select the arrow icon next to the specific product which will show a sub-menu. Choose 'Product Overview' from the sub-menu to view the margin rate details. The margin rates are tiered depending on the size of your position. To see the tiered rates select the arrow icon to the right of the margin rate section.
To calculate your margin requirement, take your margin rate and multiply this by the total value of the trade. Your estimated margin is also conveniently displayed within the order ticket. Note, margin is independent of the direction of your position and will increase or decrease in line with the level 1 mid-price point of the product. If the price increases, your margin requirement will be higher; if the price decreases, your margin requirement will become lower.
Prices streamed from our liquidity providers (May 2023 – 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.
No, we do not offer currency exchange facilities.
One unit is essentially one of the first name currency. If you require assistance with calculating your desired trade size, please contact our Client Management team.