You can trade CFDs in a wide range of currencies and currency
markets.
| Market |
CFD Base Currency |
Value per point |
City Index Hours |
Minimum trade size |
Spread (points) |
Margin Requirement (%) |
| |
|
|
|
|
|
|
| EUR/USD |
US $ |
US $ 1 |
06.30 - 21.15 |
US $ 5 |
4 |
2 |
| |
|
|
|
|
|
|
| USD/JPY |
YEN |
YEN 1 |
06.30 - 21.15 |
YEN 500 |
4 |
2 |
| |
|
|
|
|
|
|
| USD/CHF |
SF |
SF 1 |
06.30 - 21.15 |
SF 5 |
4 |
2 |
| |
|
|
|
|
|
|
| GBP/USD |
US $ |
US $ 1 |
06.30 - 21.15 |
US $ 5 |
4 |
2 |
| |
|
|
|
|
|
|
| AUD/USD |
US $ |
US $ 1 |
06.30 - 21.15 |
US $ 5 |
4 |
2 |
| |
|
|
|
|
|
|
| USD/CAD |
C $ |
C $ 1 |
06.30 - 21.15 |
C $ 5 |
4 |
2 |
| |
|
|
|
|
|
|
| EUR/CHF |
SF |
SF 1 |
06.30 - 21.15 |
SF5 |
4 |
2 |
| |
|
|
|
|
|
|
| EUR/GBP |
GBP |
GBP 1 |
06.30 - 21.15 |
GBP 3 |
4 |
2 |
| |
|
|
|
|
|
|
| EUR/JPY |
YEN |
YEN 1 |
06.30 - 21.15 |
YEN 500 |
4 |
2 |
| |
|
|
|
|
|
|
Important Information
City Index trading hours are from 06.30 to 21.15 on currencies,
however the markets are open outside these hours. If you place a
stop loss on your trade and the markets move against you whilst
City Index is closed, the stop loss may trigger at a worse price
than your order.
City Index can ensure that your stop loss is triggered outside
trading hours, however you would need to use our broker. For more
information, please call our Dealing Desk on 020 7550 8515.
Pricing Policy
There is no publicly accessible central exchange or marketplace
for FX.
We price our currency CFDs by taking in a minimum of three
electronic price feeds from the professional market, select an
accurate mid price and wrap a spread around it. This gives our
clients a bid to offer spread of circa three to 10 basis points
depending on the currency pair.
The prices we offer on currency CFDs are highly competitive and
are consistently applied even in times of market volatility such as
pre and post economic statistics releases. Our spreads may be wider
in situations of extreme volatility.
City Index may adjust the CFD spread to take account of supply
and demand.
Financing
For currency CFDs, the daily financing is calculated by using
the one day interest rate differential for the two currencies
concerned.
Effectively, you receive the interest on the currency you have
bought and pay interest on the currency you have sold, although the
financing posting/adjustment will be made in one currency.
The rates used to apply financing, known as Tom-Next points, are
widely available and are used to calculate FX financing industry
wide.
Example
If you had bought the EUR/USD CFD, then the daily financing
charge is the EUR one day deposit rate vs the USD one day borrowing
rate (e.g. 2.25% - 4.08% = -1.83%)
EUR/USD rate = 11720
Financing = 11720 x -1.83% / 360 days = - 0.6 ticks
If you had been long 10 CFDs of EUR/USD then the financing would
have been – 0.6 x $10 = $6 debited from your account.