Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.
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Getting started FAQs
What do CMC Markets charge on converting foreign currency profit or loss into my home currency?
If you are trading forex on our CFD platform, there is a 50 basis points (0.5%) charge to convert foreign currencies into your home currency. No conversion charge will apply if you are spread betting, as all products are priced in your home currency.
How are holding costs on forex calculated?
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 |
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 |
How do I calculate margin requirement?
To open a position you first need to deposit an amount of money known as a 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 selecting the three dots to the left of 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 displayed within the order ticket. Note that the 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.
Learn more about how we calculate our CFD trading margins.
Where do you derive your FX prices from?
Prices streamed from our liquidity providers are consumed by our automated pricing engine, where the best and most representative price is used to create our quotes.
Can I convert currencies using a CMC Markets account?
No, we do not offer currency exchange facilities.
Is one unit the same as £1 per point when trading foreign exchange?
One unit is essentially one of the first-name currency (i.e. USD in USD/JPY). If you require assistance with calculating your desired trade size, please contact our Client Management team.
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